Recently, the United States House of Representatives passed the Financial Technology Protection Act to address the increasing concerns over the use of digital platforms for illicit activities and terrorism financing. This bill, introduced by Representative Zach Nunn in April 2023, was unanimously approved by the House on July 22, 2024. The main focus of the
Regulation
As the digital landscape continues to evolve, the Digital Chamber has urged Vice President Kamala Harris to adopt a forward-looking approach to digital assets and blockchain technology. These technologies hold immense potential for innovation, economic growth, and financial inclusion, making them essential components for the future of the economy. Despite the cautious approach of the
With the recent speculation surrounding former President Donald Trump’s support for Bitcoin, DAIM CEO and founder Brian Korshain has voiced strong optimism about the potential impact it could have on the cryptocurrency. Korshain believes that Trump’s rumored plan to make Bitcoin a strategic reserve asset for the US government is not only possible but could
A recent analysis by 10x Research has raised concerns about the potential consequences of President Joe Biden’s withdrawal from the 2024 presidential race. According to the firm, former President Donald Trump could secure a “decisive victory” in the November election if no credible candidate emerges to challenge him. This prediction has significant implications for both
The Basel Committee on Banking Supervision has recently finalized its disclosure framework for banks’ crypto exposures and has made targeted amendments to its standards regarding cryptoassets. These changes are set to take effect on January 1, 2026, and aim to tighten the criteria for certain stablecoins to receive preferential regulatory treatment. This move comes after
In recent news, Hong Kong’s financial regulators have completed a consultation period regarding a licensing program initiative for fiat-referenced stablecoin (FRS) providers. This initiative has garnered significant attention from various stakeholders, including market participants, industry associations, and professional organizations. The Monetary Authority (HKMA) and the Financial Services and Treasury Bureau (FSTB) jointly announced this significant
Over the past seven years, there has been a significant uptick in lobbying expenditures in the crypto industry, as highlighted by a recent study from Social Capital Markets. The study reveals a staggering 1,386% increase in lobbying spend by crypto companies, skyrocketing from $2.72 million in 2017 to $40.42 million in 2023. This exponential growth
Recently, it was reported that Coinbase, Ripple, and Andreessen Horowitz (a16z) have intentions to send representatives to both the Republican National Convention (RNC) and the Democratic National Convention (DNC). The firms are seeking to advocate for policies that benefit the cryptocurrency industry, leveraging the support of GOP power brokers to advance their cause. The decision
South Korean lawmakers have caused quite a stir by proposing a bill to postpone the implementation of the crypto gain tax until 2028. This decision has sparked a debate among experts and enthusiasts in the cryptocurrency industry. On one hand, the ruling political party argues that the negative sentiments surrounding the crypto market necessitate the
Elon Musk, the CTO and chairman of X, recently made bold claims on social media regarding an alleged offer made by the European Commission. He stated that the EC offered the social media platform an “illegal secret deal” to censor speech in order to avoid being fined in the EU. Musk’s comments came in response
