Silvergate Capital recently settled with the SEC for $50 million, following allegations that the company misled investors about the strength of its BSA/AML compliance program and the monitoring of crypto customers, including the exchange FTX. The SEC claimed that Silvergate Capital, its subsidiary Silvergate Bank, and two executives engaged in fraudulent activities between November 2022
Regulation
The Bahamas is taking steps to make its central bank digital currency (CBDC) more accessible to the public. Central Bank Governor John Rolle announced plans to work with commercial banks to ensure that the “Sand Dollar” is readily available to clients. This move is part of an effort to boost adoption rates and encourage the
The head of Digital Assets Research at VanEck, Matthew Sigel, has confirmed that the company’s Solana spot ETF proposal is betting on Donald Trump winning the US presidency. This speculation has raised concerns about the potential approval of the ETF, especially in the event of a Democrat victory. According to analysts, the approval odds for
The recent announcement made by Circle on July 1 regarding its reception of an e-money license from France has significant implications for the global stablecoin market. This move positions Circle as the first stablecoin issuer to adhere to the EU’s Markets in Crypto-Assets (MiCA) regulations. The license granted by France’s financial regulator, the Autorité de
Vitalik Buterin, the co-founder of Ethereum, has once again expressed his apprehensions about the current state of cryptocurrency regulation, specifically within the United States. In a discussion on Warpcast, a decentralized social media platform, Buterin pointed out a regulatory paradox that, in his opinion, is hindering the industry’s progress and credibility. He noted that the
In the rapidly evolving landscape of digital finance, the emergence of crypto assets has introduced unprecedented challenges and opportunities for regulators around the globe. The European Union has taken proactive steps through the Markets in Crypto-Assets regulation (MiCAR) to provide a harmonized prudential and business conduct framework for crypto asset services. However, a critical gap
The recent decision by the US Supreme Court to overturn the Chevron doctrine has sparked discussions about the implications it may have on various regulatory bodies, particularly the SEC’s oversight of cryptocurrencies. Originating from the 1984 case of Chevron v. Natural Resources Defense Council, the doctrine established a framework for when federal courts should defer
Recently, Keisha Lance Bottoms, who is set to become Joe Biden’s senior campaign adviser, made a statement to the media emphasizing that cryptocurrency is a nonpartisan issue. She highlighted that crypto has garnered bipartisan support and has attracted voters from all across the United States. Bottoms also mentioned that crypto and blockchain technology are reshaping
ESMA’s proposed regulations under the Markets in Crypto Assets Regulation (MiCA) have been met with criticism from Paradigm, a leading firm in the crypto industry. One of the main concerns raised by Paradigm is the misinterpretation of Maximum Extractable Value (MEV) by ESMA. MEV plays a crucial role in the operation of DeFi ecosystems, allowing
Recently, the crypto trading platform Abra and its CEO, William “Bill” Barhydt, reached a settlement with 25 US state regulators. The regulators accused Abra of offering crypto trading services without proper licenses, resulting in a violation of state regulations. This settlement marks a significant development in the crypto space, highlighting the increasing scrutiny and regulation