In the ever-evolving landscape of cryptocurrency, the political climate in the United States can have profound effects on the industry’s fortunes. Recently, Alex Thorn, head of research at Galaxy Digital, analyzed the positions of the current presidential candidates regarding their approach to cryptocurrencies. This assessment is particularly timely given the potential pivot in policies that
Regulation
The world of cryptocurrency operates in a complex legal landscape, characterized by rapid innovation and often ambiguous regulations. These dynamics were sharply illustrated when the U.S. Securities and Exchange Commission (SEC) charged Cumberland DRW, a prominent Chicago-based crypto market maker, with allegedly acting as an unregistered securities dealer on October 10, 2023. This legal action
The evolving digital asset landscape has given rise to a significant regulatory challenge, particularly in relation to stablecoins. In a strategic move to clarify the regulatory environment surrounding these innovative financial instruments, Senator Bill Hagerty of Tennessee recently presented a discussion draft of legislation aimed at establishing a robust framework for stablecoin issuers. The implications
The legal struggle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) is entering a new chapter that has significant implications for the cryptocurrency landscape. On October 10, 2023, Ripple Labs took a proactive step by filing a cross-appeal with the U.S. Court of Appeals for the Second Circuit, a strategic move in
The United Arab Emirates (UAE) has taken a significant step in the realm of digital finance by abolishing the 5% value-added tax (VAT) on cryptocurrency transactions. This decision is a part of an adjustment to the Executive Regulation of the Federal Decree Law on VAT. As stated in an official document released on October 4,
In a world where innovation often outpaces regulation, the cryptocurrency industry finds itself facing a turbulent environment marked by ambiguity. Recent statements from SEC Commissioner Mark Uyeda have shed light on the dire state of crypto regulation in the United States. His comments, made during an Oct. 9 appearance on Fox Business, pinpoint a critical
On October 10, 2023, a significant development unfolded in South Korea’s approach to cryptocurrency regulation with the announcement by the Financial Services Commission (FSC) regarding the establishment of a Virtual Asset Committee. This committee aims to tackle essential issues surrounding the approval process for spot cryptocurrency exchange-traded funds (ETFs) in the nation. The decision underscores
Taiwan’s Financial Supervisory Commission (FSC) is making significant strides in the realm of digital assets, as it gears up to launch a pilot program aimed at fostering secure custody services for cryptocurrencies and other virtual assets. This initiative, announced on October 8, marks Taiwan’s proactive approach in the rapidly evolving financial landscape, paving the way
On October 8, Crypto.com, one of the prominent players in the cryptocurrency exchange sector, announced it has initiated a legal battle against the U.S. Securities and Exchange Commission (SEC). This lawsuit arises from a perceived overreach by the SEC in regulating the burgeoning and evolving cryptocurrency ecosystem. Crypto.com is not merely reacting to a Wells
In recent years, the European crypto landscape has seen a mix of acceptance and hesitation as various countries navigate the complexities of integrating digital currencies into traditional financial systems. This inconsistency has become a pressing concern, as emphasized by 21Shares, a prominent crypto investment firm. Their call to the European Securities and Markets Authority (ESMA)
