Government policy, laws and regulation shaping digital assets and the future of money.
On September 30, Ohio made a significant move towards integrating digital currencies into its financial operations with the introduction of a bill that would permit the acceptance of Bitcoin and other cryptocurrencies for state taxes and administrative fees. This initiative, introduced by state senator Niraj Antani, aims to modernize the state’s financial transactions and adapt … Read more
In a significant call for change, Zhu Guangyao, a former senior finance official in China, has urged the government to reconsider its strict ban on cryptocurrencies. Speaking at a recent forum in Beijing, Zhu emphasized the critical role that digital assets could play in bolstering China’s digital economy, especially as the United States adopts more favorable … Read more
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has announced that it will close all customer accounts in Canada effective December 31, 2024. This decision was communicated to Canadian users via email on September 30, giving them a 90-day window to withdraw their assets from the platform. A Strategic Shift In its email, Gemini … Read more
The Financial Services Agency (FSA) in Japan has embarked on a thorough assessment of its cryptocurrency regulations, aiming to determine the ongoing viability of the Payments Act in governing digital assets. This review could herald significant changes in Japan’s crypto landscape, potentially paving the way for the introduction of cryptocurrency exchange-traded funds (ETFs) and revamped … Read more
The Securities and Exchange Commission (SEC) has until October 7 to decide whether to appeal a pivotal ruling by Judge Analisa Torres regarding XRP in the ongoing Ripple case. As legal experts assess the situation, the consensus suggests that the chances of an appeals court overturning Judge Torres’s decision are low. This assessment is based … Read more
California Governor Gavin Newsom has officially vetoed the much-debated SB 1047, known as the Safe and Secure Innovation for Frontier Artificial Intelligence Models Act, arguing that the bill could hinder technological innovation while failing to adequately protect the public from the genuine risks associated with AI. The veto, issued on September 30, comes after significant … Read more
With the U.S. presidential elections approaching, Senator Cynthia Lummis of Wyoming has taken a strong stance against the Securities and Exchange Commission (SEC) and its regulatory methods concerning cryptocurrencies. In a recent interview on CNBC’s Squawk Box, Lummis criticized SEC Chair Gary Gensler for prioritizing enforcement actions over establishing clear regulations for the crypto industry. … Read more
Kazakhstan’s Astana Financial Service Authority (AFSA) has officially granted crypto exchange Bybit a full license to operate in the country, positioning it as a significant player in the region’s burgeoning cryptocurrency landscape. This development comes just weeks after AFSA initially provided “consent to full authorization” on September 6, paving the way for Bybit to become … Read more
The stablecoin market is rapidly evolving, currently valued at over $155 billion with major players like Tether’s USDT and Circle’s USDC leading the charge. Recent reports suggest that Robinhood, a popular crypto-friendly stock trading platform, is exploring the launch of its own stablecoin as part of its broader cryptocurrency offerings. While no immediate plans have … Read more
The Canadian Securities Administrators (CSA) have once again extended the deadline for crypto trading platforms (CTPs) to comply with regulations concerning stablecoins, marking the second such extension. Initially introduced in February 2023, these regulations prohibit value-referenced crypto assets (VRCAs) that are not backed by a single fiat currency, such as algorithmic stablecoins, effective by the … Read more