In a significant turn of events, the U.S. Securities and Exchange Commission (SEC) has made the decision not to appeal a recent court ruling that deemed the rejection of Grayscale Investments’ application for a spot bitcoin exchange-traded fund (ETF) unjust. This move by the SEC could potentially expedite the review process for Grayscale’s application, which
Regulation
U.S. Senators Elizabeth Warren and Angus S. King, Jr. are pushing for the expedited implementation of new tax reporting rules for cryptocurrency brokers. The senators have expressed concerns over the significant delay in enforcing these rules, which has resulted in the loss of billions in tax revenue for the federal government. It is imperative to
The Federal Open Market Committee (FOMC) recently held a meeting in September, where it reaffirmed its commitment to raising interest rates. This decision comes in light of the current economic environment, marked by rising inflation, slowing job gains, and strong GDP growth. However, despite previous rate hikes, the committee expressed dissatisfaction with the inflation levels,
The United Kingdom’s Financial Conduct Authority (FCA) has taken a firm stance against Binance’s operations by imposing restrictions on its local partner, Rebuildingsociety.com. According to the FCA’s website, the regulator has prohibited Rebuildingsociety.com from approving financial promotion content from unauthorized individuals or entities. This restriction implies that Binance’s UK affiliate must revoke any prior approvals
Elon Musk, the renowned entrepreneur and CEO of Tesla and SpaceX, finds himself in a challenging scenario as he contests the U.S. Securities and Exchange Commission (SEC). On October 5th, the SEC announced legal action against Musk, aiming to force him to comply with a subpoena and provide testimony regarding his acquisition of Twitter (now
The US Consumer Financial Protection Bureau (CFPB) is actively evaluating the application of the Electronic Fund Transfer Act (EFTA) to cryptocurrency platforms. This move comes in response to the recent significant hacks on platforms like Axie Infinity, Crypto.com, and FTX, highlighting the urgent need for bolstering consumer protections in the crypto market. The EFTA regulations
The world of cryptocurrency is constantly evolving, and Binance, one of the largest and most popular cryptocurrency exchanges, is no stranger to this reality. In response to changing U.K. regulations, Binance has recently announced the launch of a new subpage dedicated to serving its U.K. customers. With the aim of complying with the U.K.’s updated
The United States regulatory agencies have come under scrutiny in recent times, with criticisms from various quarters. Elon Musk, the owner and CTO of X (formerly Twitter), has been vocal about the need for a comprehensive overhaul of these agencies. In a tweet, he called for punitive action against individuals who have abused their regulatory
The Bank for International Settlements (BIS) and central banks within the Eurosystem have recently unveiled Project Atlas, a groundbreaking proof of concept aimed at investigating the economic implications of crypto assets and decentralized finance. This innovative initiative, developed in partnership with the BIS Innovation Hub Eurosystem Centre, De Nederlandsche Bank, and the Deutsche Bundesbank, is
Kenya’s Ad hoc committee investigating the Worldcoin matter has made shocking allegations against the company, stating that its actions “constituted acts of espionage and a threat to statehood.” These allegations have raised concerns over the company’s operations and its purported mining of data from Kenyans through iris scanning in exchange for cryptocurrency tokens. The committee,