Government policy, laws and regulation shaping digital assets and the future of money.
Despite the prolonged duration of this process, even the most vocal critics of the cryptocurrency market have begun to participate, especially during the ‘crypto winter’. However, 2024 has emerged as the year of institutional adoption of cryptocurrencies. This trend has been particularly pronounced and widespread in the case of Bitcoin (BTC), especially following the approval … Read more
Uniswap has responded to the SEC’s Wells notice with a 43-page submission, arguing against potential enforcement actions. The company asserts that it doesn’t fit the mold of a traditional exchange and points out that the SEC lacks jurisdiction over assets like bitcoin, ether, and stablecoins, which are the primary assets traded on its platform. According … Read more
The cryptocurrency industry is eagerly awaiting May 23, when the US Securities and Exchange Commission (SEC) is scheduled to announce its decision on VanEck’s spot ETH exchange-traded fund (ETF) application, followed by ARK 21Shares’ decision on May 24. Apart from VanEck, six other companies, including Ark Investment, Grayscale, Franklin Templeton, Invesco Galaxy, and BlackRock, have … Read more
The ongoing legal dispute between Ripple Labs and the US Securities and Exchange Commission (SEC) has escalated with the SEC’s most recent court filing. This filing represents the last submission before Judge Analisa Torres of the Southern District of New York begins deliberating on the remedies phase of this significant case. Ripple vs. SEC: The … Read more
In October 2023, the New York Attorney General (NYAG) filed a lawsuit against Genesis, Gemini, and Digital Currency Group (DCG), alleging they fraudulently took more than $1 billion from over 230,000 investors, including 29,000 New Yorkers. The NYAG accused Gemini of being aware that Genesis’ loans were undersecured and heavily tied to Alameda Research but … Read more
The U.S. Securities and Exchange Commission (SEC) is facing a critical juncture this week as it deliberates on approving or denying spot Ethereum exchange-traded funds (ETFs), a decision that has attracted considerable attention from major investment firms. VanEck’s application deadline for SEC approval is set for May 23, with proposals from Cathie Wood’s ARK Invest … Read more
Binance, the world’s largest cryptocurrency exchange, is currently entangled in a multifaceted legal dispute with Nigerian authorities, who have leveled accusations of money laundering, tax evasion, and currency speculation against the exchange. At the heart of the controversy are two senior Binance executives: Tigran Gambaryan, who serves as the head of financial crime compliance, and … Read more
Kraken, a prominent cryptocurrency exchange, is considering removing Tether’s USDT stablecoin from its European platform due to forthcoming regulations from the European Union. Marcus Hughes, Kraken’s global head of regulatory strategy, confirmed this possibility in a recent interview with Bloomberg. The European Union is set to introduce a new regulatory framework for digital assets, known … Read more
Ripple’s Q1 2024 XRP Markets Report, published on May 17, 2024, highlights substantial progress within the XRP markets and the wider cryptocurrency landscape. In Q12024, Ripple Trading Volumes Rise Despite Regulatory Inspection The research highlights a notable 40% rise in Ripple trading volumes to $865 million in Q1 2024 compared to Q4 2023, highlighting a … Read more
A bankruptcy court has granted approval for Genesis Global, a bankrupt cryptocurrency lender, to distribute approximately $3 billion in cash and cryptocurrency to its creditors. However, this decision leaves its parent company, Digital Currency Group (DCG), without any recovery from the bankruptcy. Judge Sean Lane sanctioned Genesis’s Chapter 11 repayment plan on Friday, May 17. … Read more