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
Regulation
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
Hong Kong’s financial regulators recently announced the conclusion of a consultation period regarding the licensing program initiative for fiat-referenced stablecoin (FRS) providers. This development marks a significant step towards creating a regulatory framework for stablecoin issuers in Hong Kong. Stakeholder Feedback During the consultation period, the Monetary Authority (HKMA) and the Financial Services and Treasury
The crypto industry has seen a massive surge in lobbying expenditures over the past seven years, according to a recent study by Social Capital Markets. The research indicates a staggering 1,386% rise in lobbying spend by crypto companies, skyrocketing from $2.72 million in 2017 to $40.42 million in 2023. This significant increase highlights a notable
The decision by Coinbase, Ripple, and Andreessen Horowitz (a16z) to send representatives to both the Republican National Convention (RNC) and the Democratic National Convention (DNC) highlights a strategic move by these companies to influence policy outcomes favorable to the crypto industry. By targeting GOP power brokers first, the firms are positioning themselves to advocate for
The recent proposal by South Korean lawmakers to delay the implementation of the crypto gain tax until 2028 has sparked debates and discussions within the crypto industry. The ruling political party put forward the bill on July 12, citing the negative sentiments surrounding virtual assets as the primary reason for the extension. They expressed concerns
