In a bold move, Senator Cynthia Lummis proposed a groundbreaking bill at the Bitcoin2024 conference, where she outlined a plan to establish a Bitcoin strategic reserve for the United States. The legislation aims to accumulate at least 1 million BTC, which would account for 5% of the total Bitcoin supply. This initiative comes on the
Regulation
Two prominent crypto companies, Coinbase and Revolut, experienced starkly different outcomes at the hands of UK authorities in recent developments. The Financial Conduct Authority (FCA) in the UK levied a hefty fine of £3.5 million on CB Payments Limited (CBPL), a subsidiary of Coinbase Group, for breaching Anti-Money Laundering regulations. The FCA highlighted that CBPL
The crypto industry has been facing significant challenges under the current administration, as discussed by Ben Horowitz and Marc Andreessen of Andreessen Horowitz (a16z). They openly criticized the Biden-Harris Administration for its handling of the crypto industry, pointing out regulatory ambiguities that are stifling innovation and growth in the sector. One of the key issues
The recent bill passed by the Russian State Duma legalizing Bitcoin mining and allowing the use of crypto for international trade marks a significant shift in the country’s approach to digital assets. This move is aimed at addressing the challenges faced by Russian banks due to regulatory constraints and international sanctions. The legislation not only
The United States House of Representatives recently passed the Financial Technology Protection Act with unanimous support. The bill, introduced by Representative Zach Nunn on April 27, 2023, was approved on July 22, 2024. The main objective of this legislation is to combat illicit activities and terrorism financing facilitated through digital platforms. One of the key
In a recent letter addressed to Vice President Kamala Harris, the Digital Chamber emphasized the significant potential of digital assets and blockchain technology in driving innovation, economic growth, and financial inclusion. The Chamber raised concerns about the cautious approach of the Biden/Harris Administration towards digital assets, which has led to a public perception that the
Brian Korshain, CEO and founder of DAIM, has expressed optimism regarding the potential impact of former President Donald Trump’s support for Bitcoin. He highlighted Trump’s rumored plan to make Bitcoin a strategic reserve asset for the US government, noting that while it is possible, it could be a challenging task to accomplish. Korshain pointed out
10x Research recently made a bold prediction regarding President Joe Biden’s withdrawal from the 2024 presidential race. The firm suggested that if Biden were to step back, it would pave the way for former President Donald Trump to secure a “decisive victory” in the upcoming November election. According to 10x, no credible candidate would be
The Basel Committee on Banking Supervision has recently unveiled its final disclosure framework for banks’ crypto exposures, along with targeted amendments to its cryptoasset standards. These changes aim to tighten the criteria for certain stablecoins to receive preferential regulatory treatment. Scheduled to take effect on January 1, 2026, the Committee has been diligently working on
OKX, a prominent crypto exchange, has made a strategic decision to select Malta as its Market in Crypto-Assets (MiCA) hub. This move aims to cater to the 450 million residents of the European Union by offering compliant services that align with local regulations. By establishing a presence in Malta, OKX seeks to enhance the deposit
