Binance, a major cryptocurrency exchange, is facing a lawsuit from the United States Securities and Exchange Commission (SEC) for allegedly selling unregistered securities and operating as an unlicensed exchange in the country. In response, Binance has filed a motion to dismiss the lawsuit, arguing that the SEC’s interpretation of securities laws is flawed and that […]
Rep. Tom Emmer (R-MN) delivered a scathing speech on the House floor, criticizing Securities and Exchange Commission (SEC) Chair Gary Gensler for his handling of digital asset regulation. Emmer accused Gensler of being ineffective and incompetent, pointing out that the SEC has pursued enforcement actions against the digital asset industry without finalizing any rules or […]
The United States Federal Reserve has recently increased its scrutiny of stablecoins, citing concerns that private entities are creating private money that could pose risks to the financial system. Michael Barr, the vice chair of the Federal Reserve for Supervision, has called for a robust federal framework to regulate stablecoins, particularly those linked to fiat […]
OPNX, the cryptocurrency exchange founded by Kyle Davies and Su Zhu, has obtained a virtual asset service provider (VASP) license from Lithuania. This license allows OPNX to offer spot crypto exchange services throughout the European Union. The exchange has emphasized its commitment to high standards of compliance and security, implementing a robust Know Your Customer […]
The European Banking Authority (EBA) has proposed new guidelines for stablecoin issuers in the European Union (EU). The aim of these guidelines is to ensure that stablecoins can be quickly redeemed, even in turbulent market conditions, to prevent bank runs and contagion during a crisis. Under the proposed rules, stablecoin issuers must offer fully redeemable […]
The Commodity Futures Trading Commission (CFTC) has released its enforcement outcomes for Fiscal Year 2023, revealing a significant increase in digital asset cases. The CFTC’s Division of Enforcement initiated 96 enforcement proceedings, resulting in penalties, restitution, and disgorgement totaling over $4.3 billion. Approximately 50% of the cases involved cryptocurrencies, with the CFTC filing 47 actions […]
The Central Bank of the United Arab Emirates (CBUAE) and other regulators in the country have released new guidelines for virtual asset service providers (VASPs) operating in the UAE. These guidelines include penalties for VASPs that operate without the proper licenses. The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations […]
The U.S. Commodity Futures Trading Commission (CFTC) has released its enforcement results for the 2023 fiscal year, revealing that nearly half of its enforcement cases involved digital assets. Out of the 96 enforcement actions taken, 47 were related to cryptocurrencies. Some notable cases include charges against individuals and companies like Sam Bankman-Fried, FTX, Alameda Research, […]
Ripple CEO Brad Garlinghouse has generated excitement among the XRP community by teasing significant announcements and discussions at the upcoming Ripple Swell event. Taking place on November 8th and 9th in Dubai, the event is expected to bring together industry professionals to share ideas and perspectives on finance and blockchain. Garlinghouse likened the event to […]
The acting chief of the U.S. Office of the Comptroller of the Currency (OCC), Michael Hsu, expressed optimism about the potential of tokenization while remaining cautious about cryptocurrencies due to their high levels of risk. Speaking at the DC Fintech Week, Hsu emphasized the benefits of tokenization in streamlining the settlement of funds and securities. […]
