U.S. Securities and Exchange Commission (SEC) chair Gary Gensler recently introduced new rules aimed at reducing risk in the U.S. Treasury market. These regulations require a greater number of trades to go through clearing houses and introduce collateral requirements for central clearing agencies, among other things. While these rules are intended to address concerns in
Regulation
Commodities Futures Trading Commission (CFTC) Chairman Rostin Behnam believes that most cryptocurrencies should be classified as commodities under existing laws. In an interview on CNBC’s Squawk Box, Behnam argued that the current regulatory frameworks need to be updated to account for the technological advancements brought about by cryptocurrencies. This view highlights the growing need for
The Korean Financial Services Commission (FSC) recently unveiled a comprehensive set of regulations aimed at protecting virtual asset investors and enhancing regulation in the local crypto industry. With devastating scandals like the Terra LUNA collapse in recent years, it is crucial to establish measures to ensure the security and stability of the virtual asset market.
Cryptocurrencies have gained increasing popularity in recent years, but with that popularity comes concerns over illicit activities. In response to these concerns, Senator Elizabeth Warren has announced an expanded coalition of Senate support for the Digital Asset Anti-Money Laundering Act. This bipartisan bill aims to mitigate the risks of illicit finance posed by cryptocurrencies through
The European Union (EU) has taken a significant step forward in regulating artificial intelligence (AI), with the announcement of a groundbreaking agreement between the European Council and the European Parliament. This agreement is set to become the world’s first comprehensive regulation of AI, and it has been hailed as a historical achievement by Carme Artigas,
In a surprising turn of events, the U.S. Securities and Exchange Commission (SEC) recently revealed that it held a secret meeting with Fidelity regarding the firm’s spot Bitcoin ETF application. This news has sparked excitement among cryptocurrency enthusiasts and investors alike, as it indicates that progress is being made towards the approval of a Bitcoin
The recent withdrawal of Binance’s application for certain operations in Abu Dhabi has raised eyebrows in the cryptocurrency community. This move, as mentioned in a recently updated filing, came as a surprise to many as Binance seemed to be focused on establishing a strong presence in the Middle East and North Africa (MENA) region. In
At the “Annual Oversight of Wall Street Firms” hearing before the Senate Committee on Banking, Housing, and Urban Affairs, Senator Elizabeth Warren took the opportunity to question bank CEOs about illicit financial activities involving cryptocurrencies. In her argument for regulatory legislation, Senator Warren highlighted the use of cryptocurrencies for funding criminal organizations and rogue regimes,
Terraform Labs, the company facing a securities lawsuit from the U.S. Securities and Exchange Commission (SEC), has recently filed a request for a summary judgment in an attempt to conclude the case. The defense team of Terraform Labs pointed out that the SEC had misrepresented facts in a separate case involving DEBT Box, highlighting that
Two prominent asset managers, Bitwise and BlackRock, have recently submitted updated filings to securities regulators in their pursuit of launching a spot Bitcoin exchange-traded fund (ETF). This development marks a significant step forward in the race to introduce a Bitcoin ETF to the market. As of now, there are at least ten asset managers that