The cryptocurrency industry has experienced significant growth in recent years, presenting numerous advantages and opportunities. However, the lack of regulatory oversight has also exposed the industry to various risks and threats. In a recent report titled “Blockchain in Finance,” the U.S. Accountability Office (GAO) highlights the pressing need for a government-wide approach to address the
Regulation
The recent introduction of the Crypto-Asset National Security Enhancement and Enforcement Act (CANSEE) has sparked controversy within the cryptocurrency community. This bill aims to impose stringent regulations on individuals involved in decentralized finance (DeFi) and has drawn criticism from various crypto advocacy groups. In this article, we will delve into the concerns raised by these
The world of cryptocurrency has been a topic of debate and discussion for some time now, with varying opinions on its nature and regulation. Recently, the Parliament Treasury Select Committee recommended that cryptocurrency trading be regulated as gambling, citing its similarities and associated risks. However, Andrew Griffith, the Economic Secretary to the Treasury in the
Officials have recently confirmed that the Nevada courts have taken decisive action in response to the financial difficulties faced by Prime Trust, a prominent crypto custodian. The Nevada Financial Institutions Division (NFID) has successfully petitioned for the placement of Prime Trust into temporary receivership. In a bid to protect the interests of Prime Trust’s clients,
The world of cryptocurrencies has long been plagued by a lack of regulatory clarity, leaving both industry insiders and investors in a state of confusion. However, Republican Congressman Glenn Thompson from Pennsylvania believes that recent developments in the Ripple case could be the turning point. Thompson is set to introduce a new cryptocurrency bill in
The UK government has expressed ambitions of becoming a global leader in artificial intelligence (AI), but experts argue that effective regulation is crucial for this vision to become a reality. A recent analysis conducted by the Ada Lovelace Institute highlights the strengths and weaknesses of the UK’s proposed AI governance model. In this article, we
In a letter addressed to Securities and Exchange Commission (SEC) Chair Gary Gensler, U.S. lawmaker Ritchie Torres has called for a reconsideration of the regulatory approach towards the cryptocurrency industry. The plea from Torres comes in light of Judge Analisa Torres’s significant ruling on June 13, bringing some much-needed legal clarity to the crypto world.
The Financial Stability Board (FSB) has recently unveiled its finalized global regulatory framework for crypto-asset activities. This framework comes as a response to the inherent volatility and structural vulnerabilities observed in the crypto industry, as well as the risks posed by the deepening connection between cryptocurrencies and traditional finance. The FSB’s main objective is to
Republican Presidential candidate Ron DeSantis has made a bold pledge to put an immediate stop to the implementation of a central bank digital currency (CBDC) if he assumes office. In an interview with Blaze Media, DeSantis expressed his deep concern about the potential threat a CBDC poses to American liberty. He vows that on his
In a recent development, a representative known as Eeon has made an extraordinary attempt to become involved in an ongoing securities case involving Binance. Eeon, alongside a group of affected customers, filed a document arguing that they should be recognized as relevant parties in the matter at hand. They claim that a court order issued
