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
Regulation
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
The aftermath of the $4.5 billion SEC settlement involving Terraform Labs has left Terra in a state of transition. Terraform Labs CEO Chris Amani announced that Terra will now become a community project as the company prepares to wind down its operations. Amani emphasized the importance of the community taking over ownership of the chain,
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
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