US lawmakers are urging the Justice Department to investigate Binance and Tether for their alleged involvement in facilitating illicit financing for terrorist groups, including Hamas. In a letter to Attorney General Merrick Garland, Senator Cynthia M. Lummis and Representative French Hill called for decisive action if the firms are found complicit. The lawmakers highlighted Binance’s […]
The United States Securities and Exchange Commission (SEC) chief, Gary Gensler, recently delivered a speech at the 2023 Securities Enforcement Forum, where he discussed the regulatory body’s enforcement actions. Gensler highlighted that these actions resulted in $5 billion in judgments and orders. However, it was his comments about the cryptocurrency market that caught the attention […]
Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), has expressed his strong stance on cryptocurrencies, emphasizing that most digital assets should be classified as securities. This indicates that the SEC will be increasing its scrutiny and regulation of the crypto industry. Gensler’s remarks highlight the growing concerns surrounding the lack of […]
Prominent attorney John Deaton has shared his views on the ongoing case between Ripple and the US Securities and Exchange Commission (SEC). Deaton predicts a prolonged timeline before a final judgment is reached and believes that a settlement between the two parties is unlikely. He emphasizes that the penalty phase of the case will require […]
In an effort to protect consumers, the UK Financial Conduct Authority (FCA) has issued a warning regarding common issues observed in promotions for crypto assets. The FCA has implemented a new marketing regime, asserting its authority over crypto promotions in the UK. The FCA has identified specific areas of concern since the new marketing rules […]
Crypto-promoting firms in the United Kingdom have been found to be in breach of the country’s new crypto marketing rules on multiple occasions. According to the Financial Conduct Authority (FCA), these firms have violated the rules at least 221 times since they came into effect in early October. The FCA has identified three common issues […]
Asset manager Hashdex recently met with the U.S. Securities and Exchange Commission (SEC) to address concerns about its application for a Bitcoin Futures exchange-traded fund (ETF). The meeting, which took place on October 13, included representatives from Hashdex, NYSE Arca, Tidal Financial Group, and law firm K&L Gates. Hashdex presented its mechanism for trading and […]
The UK’s Financial Conduct Authority (FCA) has revealed that many cryptocurrency firms are failing to comply with its new promotional rules. These rules, which came into effect on October 8, require companies to warn users about the potential risks of investing in certain crypto products and prohibit them from offering referral bonuses. The FCA has […]
Tom Emmer, a vocal advocate for cryptocurrencies, has been nominated by Republican members as their nominee for the position of Speaker in the U.S. House of Representatives. This nomination reflects the growing interest in cryptocurrency-related issues within the Republican party. The Speaker’s seat has been vacant since October 3, leading to the removal of Representative […]
Coinbase, a major player in the cryptocurrency exchange industry, is challenging the authority of the U.S. Securities and Exchange Commission (SEC) in a legal dispute. The crux of the matter revolves around the definition of an investment contract. The SEC argues that if someone invests money with the expectation of future profits, it qualifies as […]
