In a significant development, the District Judge Analisa Torres of the District Court of the Southern District of New York has imposed a hefty $125 million fine on Ripple. This decision comes after a four-year-long legal battle with the US Securities and Exchange Commission (SEC). The court ruling partially rejected the SEC’s demand for over
Regulation
A recent bill presented in the Senate aims to enhance the investigative authority of the US Secret Service in tackling crimes related to cryptocurrencies. Led by Senator Catherine Cortez Masto and Senator Chuck Grassley, the bipartisan effort seeks to address transnational cybercriminal activities that involve digital assets. The proposed legislation intends to broaden the Secret
In an exclusive interview, Joey Garcia, the Director and Head of Regulatory Affairs at Xapo Bank, shared his extensive experience and insights into the evolution of cryptocurrency regulation. Garcia’s journey began in 2014 when he was approached by Wences Casares to establish a regulatory framework for cryptocurrencies in Gibraltar. Despite initial challenges and resistance, Garcia
The Bahamas Securities Commission recently announced the passage of the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024) in an effort to provide regulatory clarity for the country’s digital assets industry. This move comes nearly two years after the collapse of FTX, a major exchange headquartered in the Bahamas. The collapse of FTX in
Jonathan Mann and Brian L. Frye have taken legal action against the US Securities and Exchange Commission (SEC) concerning the classification of NFTs representing digital art as securities under US law. Mann, known for creating a song daily for over sixteen years, expressed his protest by writing the lyrics “This song is a security.” This
Goldman Sachs CEO David Solomon recently expressed his views on Bitcoin, stating that he believes it could “very well” serve as a store of value similar to gold. While Solomon has never been a critic of Bitcoin, he still sees it primarily as a speculative investment without a clear use case. Despite this, he acknowledged
Amid former President Donald Trump’s recent proclamation of support for digital assets and his vision of the US becoming a global crypto leader, Tron founder Justin Sun has urged China to reevaluate its stance on Bitcoin. Trump, during the Bitcoin2024 conference, expressed his commitment to ensuring that the US government does not sell the Bitcoin
Senator Cynthia Lummis has introduced a groundbreaking new legislation that proposes the creation of a Bitcoin strategic reserve for the United States. This reserve aims to accumulate at least 1 million BTC, which represents 5% of the total Bitcoin supply. The announcement of this bill came during the Bitcoin2024 conference, following a keynote speech by
Recently, a group of Democrat politicians penned a letter to the Democratic National Committee (DNC) calling for a change in the party’s anti-crypto policies. The letter emphasized the potential of digital assets and blockchain technology for American innovation and economic growth. However, the Democratic party has been largely perceived as anti-crypto due to the Securities
President Donald J. Trump has made bold statements regarding his vision for Bitcoin in the United States. He aims to position the US as a “Bitcoin superpower” and maintain its dominance in the cryptocurrency space against competitors such as China. Trump has expressed his commitment to ensuring that the US government holds onto its Bitcoin