The ongoing legal tussle between Coinbase and the US Securities and Exchange Commission (SEC) has significant ramifications for the cryptocurrency landscape. Coinbase, a prominent cryptocurrency exchange, has initiated a motion for partial summary judgment to gain access to internal SEC documents that would potentially clarify the agency’s enforcement strategies towards the burgeoning crypto sector. This
Regulation
The cryptocurrency sector is at a pivotal moment, influenced significantly by the political landscape in the United States. With the upcoming presidential election, candidates’ positions on cryptocurrency could dictate the future trajectory of this burgeoning industry. Alex Thorn, head of research at Galaxy Digital, has synthesized the candidates’ stances into a comprehensive “policy scorecard” that
In the complex landscape of cryptocurrency regulation, the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has become a focal point for industry stakeholders. As of October 10, 2023, Ripple has officially submitted a cross-appeal to the Second Circuit Court of Appeals, a strategic move in response to the SEC’s
On October 10, the Securities and Exchange Commission (SEC) unveiled a significant action against Cumberland DRW, a Chicago-based crypto market maker, alleging it operated as an unregistered securities dealer. This marked a critical moment in the ongoing legal and regulatory turmoil surrounding the cryptocurrency landscape. According to the SEC’s complaint, Cumberland has executed trades exceeding
The burgeoning field of stablecoins—a digital asset class designed to maintain a stable value—has gained considerable attention from policymakers, particularly in the United States. Recent initiatives from members of Congress highlight the potential of stablecoins to revolutionize payment systems while concurrently addressing the nation’s pressing economic concerns. Senator Bill Hagerty of Tennessee is at the
On October 10, 2023, South Korea’s Financial Services Commission (FSC) made a significant announcement regarding the establishment of a Virtual Asset Committee. This initiative is part of a broader effort to regulate the digital currency landscape in South Korea, focusing particularly on the controversial issue of spot crypto exchange-traded funds (ETFs). The committee will serve
The evolving landscape of cryptocurrency regulation in the United States has become increasingly contentious. Recent remarks from SEC Commissioner Mark Uyeda highlighted deep concerns about the Securities and Exchange Commission’s (SEC) current enforcement strategies regarding digital assets. On Fox Business’s “Mornings with Maria,” Uyeda characterized the SEC’s approach as a “disaster for the whole industry,”
In a significant stride towards modernizing its financial sector, Taiwan’s Financial Supervisory Commission (FSC) has announced plans for a pilot program aimed at institutions eager to explore digital asset custody services. As reported on October 8, this initiative aligns with Taiwan’s broader agenda to enrich financial innovation, with an ambitious target to roll out comprehensive
In recent years, stablecoins—cryptocurrencies pegged to traditional assets, mainly the US dollar—have begun to carve out their own space in the financial ecosystem, particularly in the realm of international trade. On October 8, 2023, South Korean authorities announced plans to enforce foreign exchange regulations on cross-border stablecoin transactions, aiming to curb potential risks associated with
In a significant move aimed at enhancing its digital economy, the United Arab Emirates (UAE) has announced an exemption of cryptocurrency transactions from the country’s 5% value-added tax (VAT). This exemption forms part of an amendment to the existing Executive Regulation under the Federal Decree Law on VAT, which officially takes effect on November 15,
