In response to reports suggesting that state actors were using Tether’s USDT tokens to bypass US sanctions, the stablecoin issuer has announced its decision to freeze any addresses linked to sanctioned entities. A spokesperson for Tether stated that the company fully respects the Office of Foreign Assets Control (OFAC) SDN list and is dedicated to
Regulation
In a bold move, the Blockchain Association and the Crypto Freedom Alliance of Texas have decided to take legal action against the US Securities and Exchange Commission (SEC). Their argument revolves around the recent sanctioning of a rule by the SEC that redefines the parameters for what constitutes a “dealer” of securities. According to the
Following controversies surrounding the SEC’s legal case against crypto firm DEBT Box, two lead SEC attorneys, Michael Welsh and Joseph Watkins, have resigned in April. The resignations came after the regulator reportedly planned to terminate both lawyers if they did not resign. Bloomberg reported on these resignations, noting that neither Welsh nor Watkins responded to
The rapid growth and complexity of the digital assets sector have prompted the Hong Kong Securities and Futures Professionals Association (HKSFPA) to advocate for the establishment of independent self-regulatory organizations (SROs). This initiative aims to enhance the regulatory landscape to support innovation, security, and ethical practices within the industry. The HKSFPA Proposal In response to
The MiCA regulation, set to reshape the crypto industry, is an essential step by the European Union towards regulating the crypto-asset market. As the crypto landscape evolves, companies in this sector need to prioritize compliance with MiCA to ensure a smooth transition. MiCA brings a wave of changes that companies operating in the crypto space
The recent amended complaint filed by the US Securities and Exchange Commission (SEC) in its case against Justin Sun and other defendants raises important questions about jurisdiction and legal actions related to the unregistered offers and sales of cryptocurrencies. The SEC’s argument revolves around Sun’s alleged extensive visits to the US, claiming that these trips
The recent legislative bill introduced by US Senators Cynthia Lummis and Kirsten Gillibrand regarding a proposed ban on algorithmic stablecoins has sparked controversy within the crypto industry. Industry experts, including former Blockchain Association member Jake Chervinsky, have criticized the Lummis-Gillibrand Payment Stablecoin Act as “deeply flawed.” Chervinsky expressed concerns that the bill would only allow
The provincial government of Buenos Aires has formally accused Worldcoin of violating consumer laws through “abusive clauses” in its user agreement. According to the notice, Worldcoin’s unfair agreement allegedly allows it to interrupt services without offering repair or reimbursement. The government also claims that Worldcoin requires users to surrender their rights to collective complaints and
Recent discussions between House leaders and Senate Majority Leader Chuck Schumer suggest that stablecoin legislation may see action during this summer’s session or in the year-end lame-duck session. This is in response to the need for regulatory clarity in the financial technology sector, particularly in the area of stablecoins. House Financial Services Chair Patrick McHenry
In the world of blockchain technology, a significant dilemma arises when considering the balance between data ownership and transparency. On one hand, the decentralized nature of blockchain allows for greater transparency and immutability, challenging the control of data by centralized powers. However, individuals also have a rightful desire for personal ownership and autonomy over their