The landscape for cryptocurrency custody services in the United States has taken a substantial turn following the introduction of the SEC’s Staff Accounting Bulletin (SAB) 122. This new policy replaces the contentious SAB 121, initially implemented during the tenure of former SEC Chair Gary Gensler. By reassessing and modifying how financial institutions handle crypto custody
Regulation
In a decisive move to bolster its regulatory capacity in the rapidly evolving world of digital assets, the U.S. Commodity Futures Trading Commission (CFTC) has appointed Harry Jung as the head of its initiatives focused on cryptocurrency, decentralized finance (DeFi), and other digital assets. Jung also assumes the role of Acting Chief of Staff under
In a significant move for the cryptocurrency sector, Senator Cynthia Lummis (R-Wyo.) has been appointed as the inaugural chair of the Senate Banking Subcommittee on Digital Assets. This announcement, made on January 23, marks a pivotal point in the U.S. government’s approach to blockchain technology and cryptocurrencies. Under the leadership of Senate Banking Committee Chair
The crypto world is rife with innovation, pushing the boundaries of what is possible within digital finance. However, this rapid evolution is not without its challenges—both legal and ethical. Roman Storm, the co-founder of Tornado Cash, recently articulated his experience with the U.S. legal system, claiming that his prosecution represents a significant threat to privacy
The landscape of cryptocurrency regulation in the United States has historically been shadowed by uncertainty and reactive enforcement. However, a significant shift appears to be on the horizon with the recent announcement by the Securities and Exchange Commission (SEC). On January 21, 2023, the SEC unveiled the establishment of a specialized crypto task force, set
In a recent dialogue at the Reuters Global Markets Forum, Circle’s CEO Jeremy Allaire shared a hopeful perspective regarding the potential influence of President Donald Trump’s administration on the cryptocurrency landscape. Allaire argued that Trump’s policies could eliminate existing roadblocks in the digital assets arena. Notably, he referred to the SEC’s Staff Accounting Bulletin (SAB)
The recent changes within the United States Securities and Exchange Commission (SEC) reflect a decisive transformation in leadership that could significantly impact the regulatory landscape for digital assets. On January 20, 2024, President Donald Trump appointed Mark Uyeda as the acting chair, following the official resignation of Gary Gensler. This transition marks a pivotal moment,
With the recent appointment of Caroline Pham as the acting chair of the Commodity Futures Trading Commission (CFTC), a significant shift in regulatory oversight within the cryptocurrency and digital asset markets is on the horizon. This appointment, reported on January 20 by Bloomberg News, reflects not only the CFTC’s alignment with the incoming administration but
As we enter a pivotal phase in the evolution of the cryptocurrency industry, the European Union’s Markets in Crypto-Assets Regulation (MiCA) emerges as a transformative force poised to reshape the market. This comprehensive framework not only aims to instill robust standards for transparency, consumer protection, and anti-money laundering practices, but it also heralds a new
In a significant move to enhance the regulatory environment surrounding digital assets, the New York Department of Financial Services (NYDFS) has forged a pivotal partnership with the Bank of England (BOE). Announced on January 13, this collaboration focuses on launching the Transatlantic Regulatory Exchange (TRE). The initiative aims to create a unified regulatory approach to
