In a recent development, the Zimbabwean government has taken a proactive step in understanding and regulating the virtual asset industry in the country. A committee has been set up to collect data from crypto companies operating within Zimbabwe. This initiative aims to provide a detailed insight into the size and scope of the crypto industry
Regulation
The EU Innovation Hub for Internal Security has recently published a comprehensive report on encryption, with a strong focus on issues related to cryptocurrencies. This report, developed in collaboration with Europol, Eurojust, and other EU agencies, explores how the use of cryptocurrencies is affecting the efforts of law enforcement agencies. In particular, it sheds light
The anticipation surrounding the launch of spot Ethereum ETFs has been met with delays as applicants navigate the regulatory process. SEC chair Gary Gensler emphasized that the timeline for these launches is contingent on how promptly applicants address the regulator’s queries and provide justifications for approvals. Companies are driven to respond to SEC comments in
Tokenization is a concept that has been gaining traction in the financial industry, with its potential to revolutionize the way traditional assets are processed and managed. Nadine Chakar, the global head and managing director of DTCC Digital Assets, recently testified before the House Financial Services Subcommittee on Digital Assets about the transformative power of tokenization.
In a recent memo, Bitwise CIO Matt Hougan highlighted the shifting political landscape in the United States regarding cryptocurrencies. He noted that the market is currently underestimating the significance of Washington’s evolving attitude toward crypto. According to Hougan, if the impact of these changes had been priced in, the market would have already hit a
The US Securities and Exchange Commission’s (SEC) controversial Staff Accounting Bulletin 121 (SAB 121) is facing potential obstacles due to an upcoming House Appropriation budget. According to FOX Business reporter Eleanor Terrett, the budget includes a policy rider that prohibits the SEC from using appropriated funds to implement or enforce SAB 121. This could significantly
The crypto industry has been facing a lack of regulatory clarity for years, hindering its growth and development. In a recent blog post titled “How to get regulatory clarity for crypto,” Coinbase CEO Brian Armstrong called for a united effort to secure regulatory clarity by electing pro-crypto candidates and voting out anti-crypto incumbents. The Importance
US President Joe Biden recently vetoed H.J. Res. 109, a resolution aimed at overturning the SEC’s SAB 121 rule. Biden stated that the rule represents the considered technical views of SEC staff and plays a crucial role in protecting the public. He emphasized that the resolution would limit the SEC’s authority over accounting practices, hindering
There has been speculation surrounding the launch of US spot Ethereum ETFs, with Bloomberg ETF analyst Eric Balchunas suggesting that they could potentially launch in June. Balchunas mentioned that while a mid-June launch may be a long shot, there is a legitimate possibility that these ETFs could be available by the end of June. However,
The idea of a shared digital securities sandbox between the US and the UK has been proposed by SEC commissioner Hester Peirce on May 29. This proposal aims to extend the joint digital securities sandbox (DSS) of the Bank of England and FCA to include US firms as well. The concept behind this shared sandbox