The Commodity Futures Trading Commission (CFTC) Chair, Rostin Behnam, recently expressed the agency’s willingness to take on a more significant role in regulating cryptocurrencies during a Senate Agriculture Committee hearing. The discussion, which took place on July 10, focused on the CFTC’s push for expanded regulatory powers. Senator Roger Marshall raised the question of whether
Regulation
Katherine Dowling, the Chief Compliance Officer of Bitwise, indicated that spot Ethereum ETFs are nearing approval by the Securities and Exchange Commission (SEC). In a recent interview with Bloomberg on July 9, Dowling mentioned that the SEC has been receptive to discussions regarding new financial products in the cryptocurrency space. She expressed optimism about the
The Republican Party has taken a significant step in embracing digital assets and blockchain technology by including them in their official platform for the 2024 election. This move reflects a broader shift within the party towards supporting cryptocurrencies, in line with former President Trump’s recent statements. RNC’s Stance on Digital Assets The Republican National Committee’s
Messari, a prominent US-based cryptocurrency market intelligence platform, recently made headlines by announcing its independence from the Securities and Exchange Commission (SEC). The CEO of Messari, Ryan Selkis, boldly stated, “I’ve declared independence from the SEC and its corrupt Chair Gary Gensler. In the months ahead, Messari will be operationalizing a war against this illegitimate
Former Solicitor General Donald B. Verrilli has recently accused US regulators of intentionally stifling the growth of the crypto industry through debanking practices. Verrilli, who now works as a senior legal strategist for Grayscale Investments, expressed his concerns in a joint amicus brief with Paul Clement, another former Solicitor General. This criticism highlights a growing
The European Banking Authority (EBA) recently announced an update to its Travel Rule guidelines, extending the requirements to crypto service providers and intermediaries. This move aims to enhance the traceability of asset transfers and combat money laundering and terrorist financing in the European Union. Starting from December 30, 2024, crypto exchanges operating in the EU
The launching of spot Ethereum ETFs has been a hot topic in the financial market, with various experts providing their predictions. Bloomberg ETF analyst James Seyffart shared his prediction on social media, indicating a potential launch around July 15. However, he admitted to having low confidence in this prediction due to the unpredictable nature of
The Financial Supervisory Service (FSS) of South Korea has recently announced its plans to tighten oversight of cryptocurrency trading platforms under its jurisdiction. The aim behind this move is to eliminate fraudulent transactions within the crypto market. In a notice released on July 4, the regulator emphasized the need for local exchanges to establish a
The Securities and Exchange Commission (SEC) of Nigeria recently released the “SEC Regulatory Incubation Guidelines,” introducing stringent requirements for Virtual Asset Service Providers (VASPs) operating in the country. These new guidelines are aimed at enhancing regulatory oversight, supporting local market development, and addressing the challenges faced by Nigeria in maintaining the value of its fiat
Recently, crypto exchange KuCoin announced that it would start collecting a 7.5% value-added tax on trading fees from its Nigerian users. This decision, set to take effect on July 8, has raised eyebrows in the industry. The introduction of this VAT could have significant implications for Nigerian users of KuCoin. The 7.5% tax on trading
