Regulation in the digital finance space has become a critical topic of discussion, particularly with the emergence of crypto assets. The European Union has taken a proactive approach through the Markets in Crypto-Assets regulation (MiCAR), aiming to provide a comprehensive framework for crypto asset services. However, there is a looming challenge posed by non-custodial crypto
Regulation
The recent decision by the US Supreme Court to overturn the Chevron doctrine has significant implications for the regulation of cryptocurrency, according to economist Timothy Peterson. The Chevron doctrine, established in 1984, had allowed federal courts to defer to agency interpretations of laws and statutes. With this decision, the SEC’s authority to regulate crypto as
Keisha Lance Bottoms, the soon-to-be senior campaign adviser for Joe Biden, recently made headlines by stating that crypto is a nonpartisan issue. According to Bottoms, crypto is a nonpolitical and unifying topic that has garnered bipartisan support across the United States. She emphasized that crypto and blockchain technologies are transforming the financial system and empowering
Paradigm has raised concerns over the European Securities and Markets Authority’s (ESMA) proposed regulations under the Markets in Crypto Assets Regulation (MiCA), particularly regarding the misinterpretation of Maximum Extractable Value (MEV). ESMA recently stated that MEV will be considered a form of market abuse under the upcoming MiCA framework. However, Paradigm argues that ESMA’s current
Abra, along with its CEO William “Bill” Barhydt, recently reached a settlement with 25 US state regulators for providing crypto trading services without the necessary licenses. The settlement, as announced by the Conference of State Bank Supervisors (CSBS) on June 26, involved the agreement to forego monetary penalties in exchange for $82 million in customer
Cryptocurrency exchanges and digital asset traders in Nigeria are facing increased scrutiny from the country’s Securities and Exchange Commission (SEC). The SEC has issued a 30-day ultimatum for these businesses to re-register, with enforcement actions threatened for non-compliance. This move comes as part of the Accelerated Regulatory Incubation Program (ARIP) for Virtual Assets Service Providers
Louisiana Governor Jeff Landry recently made headlines by signing a bill that takes a strong stance against central bank digital currencies (CBDCs) and supports the protection of crypto mining. The bill, known as HB 488, not only prohibits governing authorities from accepting or requiring payments in CBDCs but also prevents them from participating in CBDC
Coinbase, a leading cryptocurrency exchange, may face regulatory challenges due to its compliance with the new Financial Accounting Standards Board (FASB) rules. These rules, which shift the accounting and disclosure for cryptocurrencies to a fair-value model from a cost-less-impairment model, were agreed upon by the FASB in 2023 and will officially take effect in 2025.
The recent announcement of Kanav Kariya’s resignation as the President of Jump Crypto has sent shockwaves through the digital assets industry. Kariya cited personal reasons for his departure, leaving behind a successful tenure at Jump and expressing excitement for future endeavors. However, the timing of his resignation, coming just four days after reports of a
Ripple, a prominent crypto company, is facing legal challenges after a US judge in California gave the green light for a lawsuit questioning the honesty of its CEO, Brad Garlinghouse. The lawsuit revolves around allegations that Garlinghouse made misleading statements that led investors to put their money into the digital asset XRP. During a televised