CFTC Chair Rostin Behnam has expressed his belief that the majority of cryptocurrencies should be classified as commodities under current laws. In a recent statement, Behnam emphasized the importance of legitimizing the crypto industry through legislation and called on Congress to take action.Behnam’s remarks highlight the growing recognition of cryptocurrencies as a permanent fixture in […]
The ongoing bankruptcy case of FTX, a defunct crypto exchange, has taken a complex turn with the Internal Revenue Service (IRS) seeking around $24 billion from the exchange. This amount has been reduced from the initial claim of $44 billion filed by the IRS in April. FTX lawyers are disputing the method used by the […]
The US authorities have proposed a bipartisan Digital Asset Anti-Money Laundering Act in response to the growing threat posed by the crypto industry to financial stability. The Act has gained support from a coalition of senators, including Elizabeth Warren, who expressed excitement about the new senators joining the fight against the illicit use of crypto. […]
Senator Elizabeth Warren’s proposed crypto Anti-Money Laundering bill has sparked controversy within the crypto industry. However, critics have pointed out that Warren’s bills have a history of not gaining traction.According to data from GovTrack, Warren has introduced 330 bills during her time as a senator, but only one has been enacted as is. Most bills […]
Senator Elizabeth Warren’s proposed bill to regulate cryptocurrencies has gained support from five additional senators, including members of the Senate Banking, Housing and Urban Affairs Committee. The Digital Asset Anti-Money Laundering Act aims to address the risks of illicit finance associated with digital assets by expanding the definition of “financial institutions” to include cryptocurrency miners, […]
Google is set to update its advertising policy in January 2024 to allow the promotion of Cryptocurrency Coin Trusts on its platform. This change will come into effect on January 29, 2024, and will apply globally. Cryptocurrency Coin Trusts are financial products that enable investors to trade shares in trusts holding digital currency pools.Google’s policy […]
The Swiss major bank has acquired several advisory teams from Wall Street competitors in the US this year. Now, it is bringing in a veteran from the largest US bank. The US market is one of the most important growth markets for the Swiss bank UBS, as recently stated by CEO Sergio Ermotti. The financial […]
A prominent crypto lawyer, John Deaton, has made serious allegations against Senator Elizabeth Warren regarding her oversight responsibilities of the Securities and Exchange Commission (SEC). Deaton claims that Warren has overstepped her role by conspiring with SEC Chairman Gary Gensler, providing him with pre-arranged questions and suggested answers ahead of Congressional hearings. Deaton argues that […]
The U.S. Securities and Exchange Commission (SEC) has requested the court to consider newly unsealed documents in its lawsuit against cryptocurrency exchange Binance and its former CEO Changpeng Zhao (CZ). The SEC argues that the plea agreements made by Binance and CZ with other agencies support its case and should be taken into account. The […]
The United States government has removed two provisions from the National Defense Authorization Act (NDAA) that were aimed at addressing concerns regarding anti-money laundering (AML) in the cryptocurrency industry. The NDAA is a legislation that determines how federal funding can be used by the country’s defense department.The first provision required the US Secretary of the […]
