South Korea’s Financial Supervisory Service (FSS) has been in the spotlight following rumors of the removal of various digital assets from local crypto exchanges. Reports suggested that the FSS instructed registered exchanges like Upbit, Bithumb, and Gopax to conduct evaluations of several tokens on their platforms. This move is in line with the Virtual Asset
Regulation
The recent announcement of David Hirsch’s departure from the SEC on June 17 has brought attention to his nearly nine-year tenure at the agency. During his time at the SEC, Hirsch led the Crypto Assets and Cyber Unit in the Division of Enforcement, overseeing a significant number of crypto cases. Hirsch expressed pride in the
Currency has played a crucial role in shaping human societies throughout history. From bartering systems to the establishment of coins and paper money, the evolution of currency has been closely tied to the advancement of civilizations. However, recent decades have seen a shift towards financial chaos in many parts of the world, raising questions about
Asset tokenization, particularly the tokenization of securities, has been recognized by SEC commissioner Mark Uyeda as having significant potential benefits. Uyeda highlighted the advantages of representing asset rights with digital tokens on a blockchain, such as enhanced security, transparency, and immutability. Moreover, he emphasized that tokenization eliminates the need for intermediaries, thus simplifying transactions and
In the ever-evolving landscape of the crypto-asset market, regulatory bodies like the European Banking Authority (EBA) play a crucial role in setting guidelines to ensure the stability and reliability of digital tokens. The recent unveiling of comprehensive guidelines by the EBA addresses recovery plans for issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs) under
Coinbase recently expressed its objection to the Securities and Exchange Commission’s (SEC) $2.6 billion budget request for the 2025 fiscal year. The cryptocurrency exchange criticized the SEC for prioritizing enforcement over creating clear and workable regulations for the crypto industry. The SEC’s budget request includes a significant portion of $812.4 million allocated to enforcement, reflecting
The Commodity Futures Trading Commission (CFTC) is currently exploring the possibility of expanding its authority to include oversight of crypto commodities and non-traditional assets. During a hearing before the Senate Committee on Appropriations, CFTC chair Rostin Behnam expressed confidence in the agency’s ability to take on additional responsibilities in the crypto space. This article will
In the wake of a $4.5 billion settlement with the SEC, Terraform Labs CEO Chris Amani has declared that Terra will transition into a community-driven project. Amani emphasized the importance of the community taking ownership of the chain as the company prepares to wind down its operations. He stated that certain teams and developers have
In a recent comprehensive report released by the EU Innovation Hub for Internal Security, the impact of cryptocurrencies on law enforcement efforts was highlighted. The report, a result of collaboration between various EU agencies including Europol and Eurojust, sheds light on the challenges faced by law enforcement in tracking and recovering illicit digital assets moved
Tokenization is not merely a trend but a transformative evolution in the financial industry. Nadine Chakar, DTCC Digital Assets global head, emphasized the game-changing potential of tokenizing real-world assets during her testimony before the House Financial Services Subcommittee on Digital Assets. This innovative approach has the power to simplify complex financial processes and enhance market
