Ripple (XRP) CEO Brad Garlinghouse, accompanied by other top executives from the company, recently met with members of the U.S. Congress to address the crucial issue of regulatory clarity in the cryptocurrency industry. Garlinghouse shared this information on social media platform X (formerly Twitter), highlighting the importance of engaging with elected officials who propose bills
Regulation
The Securities and Exchange Commission (SEC) has expressed concerns about the lack of regulation in the cryptocurrency industry. The agency considers many cryptocurrencies as securities and thus subject to federal securities laws. This strict stance by the SEC has resulted in increased scrutiny and enforcement actions against companies involved in initial coin offerings (ICOs) that
The New York State Department of Financial Services (NYDFS) has announced new requirements for virtual currency business entities operating within the state. These rules, outlined on September 18, primarily focus on cryptocurrency delistings and aim to protect consumers and ensure the safety and soundness of the industry. The NYDFS’s latest guidelines build upon the original
Japan-based cryptocurrency exchange JPEX recently announced a pause on one of its key features, Earn Trading, starting from September 18. This feature allowed users to deposit assets and provide liquidity in exchange for rewards. However, JPEX decided to delist all Earn Trading transactions due to undisclosed reasons. While existing orders will continue to generate rewards
As the cryptocurrency industry continues to grow and evolve, concerns over money laundering and illicit activities have spurred lawmakers into action. Senator Elizabeth Warren’s bipartisan cryptocurrency anti-money laundering bill has gained backing from an additional nine senators, including influential committee chairs. This article will explore the importance of this bill and the support it has
The recent dismissal of BlackRock’s spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC) should not be seen as a roadblock to its overall success, according to statements made by Nasdaq executive Giang Bui. BlackRock filed an application for the ETF on June 15, with Nasdaq responsible for filing the necessary rule changes
The European Parliament has made a significant decision by approving DAC8, a measure that mandates tax reporting requirements for cryptocurrency transactions throughout the European Union (EU). This new rule marks an important step in regulating the crypto market and ensuring that crypto-asset service providers comply with tax obligations. With a vote of 535 in favor,
Franklin Templeton, one of the largest investment firms in the world, recently applied for a spot Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This move comes as no surprise, considering the firm’s previous interest in cryptocurrencies and Bitcoin. While the SEC has historically rejected such applications, industry experts believe there
Digital Currency Group’s subsidiary, Luna, has recently announced that it will be pausing certain services in the U.K. This decision comes as a response to new regulations set by the country’s Financial Conduct Authority (FCA), which will impose severe restrictions on how cryptocurrency companies can advertise their services. In this article, we will analyze the
G20 leaders have taken significant steps toward the establishment of a Crypto Asset Reporting Framework (CARF), as reported by The Times of India on September 9. Under this framework, member countries of the G20 would collaborate in collecting and sharing information regarding the use of cryptocurrencies and digital assets, with the aim of preventing tax
