The US Commodity Futures Trading Commission (CFTC) has launched an investigation into Jump Crypto for reasons that have not been disclosed. This move comes amidst a broader crackdown by US regulators on the crypto industry, with one-third of the CFTC’s enforcement cases in 2023 targeting crypto firms. The CFTC is reportedly looking into Jump Crypto’s
Regulation
The recent decision by the SEC to close its investigation into Ethereum 2.0 is a significant win for the Ethereum community. This determination that sales of ETH are not securities transactions comes after a letter from Consensys seeking clarity on the matter. Following the approval of ETH ETFs based on ETH being classified as a
The US Securities and Exchange Commission (SEC) has recently expressed concerns regarding Circle’s stablecoin, USDC, as the company moves forward with plans to go public through a multi-billion dollar initial public offering (IPO). Regulatory documents obtained by Barron’s on June 18 revealed that the SEC has raised issues related to the potential classification of USDC
Recently, the Financial Supervisory Service (FSS) of South Korea clarified its role in the removal of digital assets from local cryptocurrency exchanges. Reports surfaced on June 17 alleging that the FSS had directed registered exchanges such as Upbit, Bithumb, and Gopax to assess various tokens on their platforms. This directive was in line with the
David Hirsch, the SEC crypto asset enforcement chief, recently announced his departure from the agency after serving for almost nine years. During his time at the agency, Hirsch led the Crypto Assets and Cyber Unit team and oversaw numerous cases related to cryptocurrencies. Hirsch started leading the SEC’s Crypto Asset and Cyber Unit in the
Throughout history, the evolution of currency has played a significant role in shaping societies. From primitive bartering systems to the establishment of standardized coins and paper money, the concept of currency has been essential for organizing and advancing civilizations. However, in recent decades, many parts of the world have experienced financial turmoil, leading to questions
The SEC commissioner Mark Uyeda recently expressed his acknowledgment of the potential benefits associated with asset tokenization, including the tokenization of securities. According to Uyeda, representing asset rights with a digital token on a blockchain can offer enhanced security, transparency, and immutability. Moreover, he highlighted that tokenization eliminates the need for intermediaries, streamlining transactions and
In an effort to regulate the rapidly expanding crypto industry, the European Banking Authority (EBA) has introduced comprehensive guidelines concerning recovery plans for asset-referenced tokens (ARTs) and e-money tokens (EMTs) under the Markets in Crypto-Assets (MiCA) regulation. The guidelines aim to ensure the stability and reliability of these digital tokens by setting out strict requirements
Coinbase recently raised concerns over the SEC’s proposed $2.6 billion budget for the 2025 fiscal year. A representative from Coinbase highlighted the lack of focus on real crypto rulemaking and regulatory clarity, criticizing the emphasis on enforcement rather than creating workable regulations. This critique stems from the SEC’s history of using a significant portion of
The Commodity Futures Trading Commission (CFTC) Chair, Rostin Behnam, recently expressed confidence in the agency’s ability to take on more responsibilities related to cryptocurrency markets. During a hearing before the Senate Committee on Appropriations, Behnam dismissed concerns that the CFTC might be overextending itself by expanding its authority to cover crypto commodities. He emphasized that