Louisiana Governor Jeff Landry recently signed a groundbreaking bill, HB 488, aimed at protecting the rights of individuals and businesses involved in cryptocurrency transactions. The bill specifically prohibits central bank digital currencies (CBDCs) and ensures the safeguarding of crypto mining activities. One of the key provisions of the bill is the guarantee that individuals and
Regulation
Coinbase, a prominent player in the cryptocurrency market, is facing potential regulatory challenges due to its adoption of new FASB accounting rules. These rules, which were established in 2023 and are set to become mandatory in 2025, shift the accounting and disclosure practices for digital assets to a fair-value model from a cost-less-impairment model. According
Ripple is facing legal challenges as a US judge in California has given the green light to a lawsuit against the company. The lawsuit alleges that the CEO of Ripple, Brad Garlinghouse, made misleading statements that may have led investors to invest in the digital asset XRP. The case is set to go to trial,
The US Commodity Futures Trading Commission (CFTC) recently launched an investigation into Jump Crypto, a significant player in the DeFi space, for reasons that have not yet been disclosed. According to Forbes, the federal agency is looking into the firm’s trading and investment activities in the crypto sector. Despite this scrutiny, there have been no
The recent announcement by the SEC regarding Ethereum 2.0 has brought about a significant shift in the cryptocurrency market. The SEC has closed its investigation into Ethereum 2.0 and has determined that sales of ETH are not securities transactions. This decision follows a letter from Consensys seeking clarity on the classification of ETH, which was
The US Securities and Exchange Commission (SEC) has expressed apprehensions over the status of Circle’s stablecoin, USDC, as the company moves forward with plans to go public in a multi-billion dollar initial public offering (IPO). This information was reported by Barron’s on June 18, citing regulatory documents that shed light on the SEC’s concerns regarding
Recently, there have been reports circulating about the Financial Supervisory Service (FSS) of South Korea instructing registered crypto exchanges to evaluate the tokens listed on their platforms. This directive is in line with the Virtual Asset User Protection Act, which requires exchanges to adhere to strict compliance measures and regularly assess the tokens they list.
On June 17, David Hirsch, the enforcement chief in charge of crypto assets at the SEC, announced his departure from the agency after almost nine years of service. He expressed pride in the work accomplished by the Crypto Assets and Cyber Unit team under his leadership. Hirsch took on the role of leading the SEC’s
Throughout history, the evolution of currency has played a crucial role in shaping human societies. From the simplicity of bartering to the establishment of standardized coins and paper money, currency has been a fundamental aspect of organizing and advancing communities. However, the post-World War II transition to fiat currency marked a significant shift in the
Asset tokenization, including the tokenization of securities, has been gaining attention for the potential benefits it offers. SEC commissioner Mark Uyeda highlighted the advantages, pointing out that representing asset rights with a digital token on a blockchain can enhance security, transparency, and immutability. He also mentioned that tokenization eliminates the need for intermediaries, making transactions