Representatives for Circle and Coinbase blamed traditional financial institutions — ‘TradFi’ — for instability in the digital asset sector. “What happened over the last several days...
Tag: U.S. Policymaking
The Block: Circle USDC operations will resume when U.S. banks open Monday: CEO Allaire
Circle USDC reserves are “safe and secure” and liquidity operations will resume when U.S. banks open Monday, CEO Jeremy Allaire said on Twitter. “We were heartened to see the U...
State regulator takes control of Signature Bank, federal regulators guarantee deposits
Policy • March 12, 2023, 7:29PM EDT The New York Department of Financial Services seized crypto-friendly Signature Bank in order “to protect depositors,” the state banking regulator said i...
New York sues KuCoin, claims ether is an unregistered security
New York Attorney General Letitia James has sued digital asset exchange KuCoin for violating New York laws governing the trading of securities and commodities, and named ether, among other tokens, as ...
CFTC head says stablecoins are in agency’s jurisdiction without ‘clear direction from Congress’
The head of the Commodity Futures Trading Commission views most stablecoins as commodities, barring new law that could change their classification. “Not withstanding that, they are a commo...
Grayscale products buoyed following oral arguments in case against the SEC
Grayscale had its day in court, and now the asset manager — and investors in its Grayscale Bitcoin Trust — must await the ruling, which could take three to six months. The asset manager brought...
Crypto prices flat, Silvergate declines ahead of Powell testimony
Crypto markets traded relatively flat as the market prepares for Federal Reserve Chair Jerome Powell’s Congressional testimony on Tuesday and the release of U.S. jobs data on Friday. Bitco...
U.S. Treasury convening regular Biden administration discussions on CBDC
Policy • March 1, 2023, 2:38PM EST The U.S. Treasury, Federal Reserve and White House officials “will begin to meet regularly” to talk about a possible central bank digital currency, said Nellie Liang...
Euro-backed stablecoin, Euro Coin set to trade on Coinbase
Support for Euro Coin (EUROC), a euro-backed stablecoin, will go live on Coinbase in regions where trading is supported, the exchange said on Twitter. Trading is slated to begin on or after 9 a....
The Block: SEC planting its regulatory flag as Congress still to pick a regulator: SEC’s Peirce
Policy • February 20, 2023, 5:00AM EST The Securities and Exchange Commission is attempting to “plant its regulatory flag,” while Congress is still mulling which agency will be police crypto, sa...
Merit Peak, firm at heart of Reuters report, operated on Binance.US, exchange admits
Binance.US, the U.S. affiliate of the world’s largest crypto exchange, acknowledged that a market making firm called Merit Peak, which is alleged to have secretly received $400 million from the exchan...
Gensler opens new regulatory front for crypto firms: custody
SEC Chair Gary Gensler signaled an escalation to his post-FTX crackdown on the crypto industry on Wednesday, saying that digital asset firms are in broad violation of current custodial rules meant to ...
Senate Republican drafting proof-of-reserve legislation
Policy • February 15, 2023, 10:46AM EST Published 16 hours and 30 minutes earlier on Sen. Thom Tillis, R-N.C., is drafting legislation to require digital asset exchanges and custodians operating in th...
684 million BUSD burned for redemptions amid US regulatory scrutiny
Just over a day after it categorically denied regulator claims Binance USD (BUSD) is a security, Paxos has burned some 684 million of the stablecoin for U.S. dollar redemptions, on-chain data show. &#...
Sinbad crypto mixing service may be Blender in disguise: Elliptic
A shuttered crypto transaction mixer once sanctioned by U.S. regulators may have returned under a new name, according to an analysis by crypto firm Elliptic. Elliptic said that on-chain data sho...
CFTC, SEC cases against Bankman-Fried to be pushed back until criminal case ends
Civil cases brought by U.S. regulators against former FTX CEO Sam Bankman-Fried can be pushed back until after a criminal case concludes, a judge decided Monday. Damian Williams, U.S. Attorney ...
SEC action against Paxos paints regulatory target on stablecoins
Stablecoins look to be the next part of the crypto ecosystem facing a regulatory crackdown. The U.S. Securities and Exchange Commission has issued notice to crypto infrastructure provider Paxos...
SEC’s targeting of Kraken staking program sends shockwaves through industry
The Securities and Exchange Commission’s move to charge crypto exchange Kraken with failing to register the offer and sale of its “crypto asset staking-as-a-service program” signals an aggressive new ...
CFTC can take steps now to protect crypto customers: Johnson
The Commodity Futures Trading Commission’s Kristin Johnson said the agency should consider steps it can take under its current regulatory authority to protect customers following the failure of FTX. ...
Bitcoin, ether retrench after rising with traditional markets on Fed Chair comments
Cryptocurrencies rose alongside traditional markets in response to comments delivered by Federal Reserve Chair Jerome Powell at The Economic Club in Washington before turning lower. Bitcoin rose...
CFTC ‘well-positioned’ to fill regulatory gap in crypto: Behnam
Turmoil in the cryptocurrency markets shows action is needed and the Commodity Futures Trading Commission is “well-positioned” to fill a regulatory gap in cryptocurrency markets if Congress chooses, t...
A CFTC commissioner’s enthusiasm for crypto draws attention
The courtship between the crypto industry and Washington, D.C. captivated the financial policy world over the past year. As that saga has played out, Caroline Pham emerged as something of a cele...
‘Crypto Voldemort’ Charlie Munger calls for U.S. ban, again
Charlie Munger, vice chairman of Berkshire Hathaway and longtime crypto critic, used an op-ed in the Wall Street Journal published late Tuesday to call for a ban on cryptocurrencies in the U.S. Munger...
SEC bats down ARK’s and 21Shares’ second bitcoin ETF proposal
The Securities and Exchange Commission has rejected a spot bitcoin exchange-traded fund proposed by ARK Investment Management and 21Shares. The decision marks the second time ARK and 21Shares ...
Elizabeth Warren rallies crypto critics to defend the SEC’s record post-FTX
Sen. Elizabeth Warren, D-Mass., pushed for tighter regulation on the crypto industry on Wednesday in an event hosted by the American Economic Liberties Project called “Confronting the Crypto Cha...
Securities and Exchange Commission’s ‘regulation by enforcement’ is stalling crypto, Grayscale CEO says in WSJ
Grayscale Investments CEO Michael Sonnenshein bashed the Securities and Exchange Commission’s “one-dimensional approach of regulation by enforcement” in a letter to the Wall Street Journal. “Th...
Looking to run a blockchain app in a US-regulated state? Maybe consider New Hampshire
New Hampshire is ramping up to play a leading role in blockchain technology following the release of a final report with recommendations to devote resources to establish legal regimes to attract innov...
Markets trade down after Fed chair’s comments, Grayscale recovers amid hearing
Crypto markets whipsawed throughout the day after U.S. Federal Reserve Chair Jerome Powell’s delivered testimony to Congress. Bitcoin was trading around $22,070 by 4:55 p.m. EST, down abou...