In a groundbreaking announcement, Taiwan’s Financial Supervisory Commission (FSC) is set to reshape the country’s financial landscape by permitting banks to issue stablecoins as part of an emerging regulatory framework targeting virtual asset service providers (VASPs). The forthcoming draft bill, anticipated to drop in June, aims to solidify stablecoins as essential instruments bridging traditional currency—specifically
Regulation
A significant evolution in the regulatory landscape of cryptocurrency has emerged with the introduction of Staff Accounting Bulletin (SAB) 122 by the US Securities and Exchange Commission (SEC). This groundbreaking change marks a departure from the previous SAB 121, which garnered widespread criticism for its stringent requirement that forced firms offering crypto custody services to
On January 23, a significant shift occurred within the realm of financial regulation as Senator Cynthia Lummis of Wyoming was appointed as the inaugural chair of the newly formed Senate Banking Subcommittee on Digital Assets. This strategic appointment marks a pivotal moment in the U.S. government’s approach to blockchain technology and cryptocurrency regulation. With Senator
The prosecution of Roman Storm, co-founder of the privacy protocol Tornado Cash, has emerged as a focal point in the ongoing debate over digital privacy, software development, and regulatory overreach. On January 22, 2024, Storm voiced his concerns on social media, suggesting that the charges against him represent a broader trend: the criminalization of privacy
Since the inception of cryptocurrencies, the regulatory landscape has been fraught with ambiguity and apprehension. However, on January 21, a significant step toward enhancing regulatory clarity emerged with the announcement from the U.S. Securities and Exchange Commission (SEC) regarding the establishment of a dedicated crypto task force. Led by the well-respected Commissioner Hester Peirce, who
In a significant development for U.S. financial regulation, President Donald Trump officially appointed SEC Commissioner Mark Uyeda as the acting chair of the Securities and Exchange Commission. This announcement followed the resignation of Gary Gensler, whose tenure stirred a great deal of debate, particularly concerning regulations around digital assets. Uyeda’s leadership is anticipated to usher
On January 20, 2023, news surfaced that Caroline Pham, a junior commissioner at the Commodity Futures Trading Commission (CFTC), has been appointed as the agency’s acting chair. This decision was reported by Bloomberg News, which cited sources familiar with internal discussions. Pham’s confirmation by the CFTC’s five-member commission signals a pivotal moment for the agency
The cryptocurrency industry in Europe is poised at a critical juncture, with the introduction of the Markets in Crypto-Assets Regulation (MiCA) set to reshape the landscape drastically. This groundbreaking regulatory framework, unveiled by the European Union, aims to standardize governance across the crypto market, addressing key issues such as transparency, anti-money laundering (AML) measures, and
On January 16, Nasdaq made headlines by filing a 19b-4 Form to permit the listing of a spot Litecoin (LTC) exchange-traded fund (ETF), following a registration by Canary Capital. This could mark a significant milestone as Bloomberg’s senior ETF analyst, Eric Balchunas, noted that this development might lead to the first approval of an altcoin-related
In a significant move, the United States Securities and Exchange Commission (SEC) has initiated an appeal against a court ruling that provided a favorable outcome for Ripple Labs regarding the classification of its cryptocurrency, XRP. The SEC’s recent filing on January 15 contends that the court misjudged the nature of Ripple’s XRP transactions, claiming that
