The Property (Digital Assets, etc.) Bill was recently introduced by the Law Commission of the UK Parliament to legally recognize digital holdings. This groundbreaking legislation aims to classify cryptocurrencies, non-fungible tokens (NFTs), and carbon credits as personal property under British law. This move represents a significant shift in the legal landscape, as it is the
Regulation
The Digital Chamber (TDC) has made a compelling case to Congress to pass legislation that would designate specific non-fungible tokens (NFTs) as consumer goods and exempt them from federal securities regulations. This call to action comes in response to mounting apprehensions surrounding the recent enforcement measures taken by the Securities and Exchange Commission (SEC), including
The US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has recently voiced her ongoing concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). This came after a speech by SEC Chief Accountant Paul Munter, where he reaffirmed that the Commission’s position on SAB 121 remains unchanged. Despite the growing attention around the
In 2024, the US Securities and Exchange Commission (SEC) imposed a record-breaking $4.68 billion in fines against cryptocurrency companies, marking it as the most aggressive regulatory year in the agency’s history. This drastic increase brings the total fines levied by the regulator since 2013 to a staggering $7.42 billion, with 2024 alone representing 63% of
Robinhood’s cryptocurrency division has recently agreed to pay a $3.9 million fine to settle a California investigation into its past practices. California Attorney General Rob Bonta announced that the settlement was reached after it was discovered that Robinhood Crypto prevented users from withdrawing their digital assets from 2018 to 2022. The company also failed to
Galois Capital Management LLC, a hedge fund that primarily invested in crypto, has recently settled with the US Securities and Exchange Commission (SEC) over charges related to client asset safeguarding requirements. The SEC accused Galois Capital of failing to comply with these requirements, particularly with crypto assets that were considered securities. As a result, the
US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda has recently highlighted the need for specialized S-1 registration forms tailored specifically for digital asset securities. During a speech at the Korea Blockchain Week 2024 event on Sept. 3, Uyeda stressed the importance of updating the SEC’s regulatory tools to accommodate the unique features of
The recent filing by the US Securities and Exchange Commission (SEC) regarding FTX’s proposed repayment strategy in the ongoing bankruptcy case has raised concerns and criticism within the industry. The plan to repay creditors through stablecoins or other digital assets has prompted the SEC to reserve the right to challenge these transactions under federal securities
Telegram CEO Pavel Durov has recently been released from prison in France, but is now under judicial supervision with strict conditions. These conditions include a €5 million bond that Durov is required to deposit. Additionally, he is not allowed to leave French territory and must report to the police station twice a week as part
Congressman Wiley Nickel has recently criticized the US Securities and Exchange Commission (SEC) for its “regulation by enforcement” approach. He believes that this method undermines trust in the regulatory system and risks stifling digital innovation across the US. Nickel has been a strong advocate for regulatory frameworks in the crypto industry to ensure customer protection.
