A group of Senate Republicans, led by Senator Ted Cruz of Texas, is taking legislative steps to restrict the Fed’s capacity to introduce a central bank digital currency (CBDC). This move spotlights the issue as a potential focal point in the 2024 presidential campaign discussions. The proposed bill, named the Central Bank Digital Currency Anti-Surveillance
Regulation
The Energy Information Administration (EIA) recently halted a controversial survey of crypto mining companies after facing a lawsuit from Riot Platforms and the Texas Blockchain Council. These organizations filed a lawsuit against the EIA, the Department of Energy, the Office of Management and Budget (OMB), and the heads of those agencies. As a result, the
South Africa recently unveiled plans to integrate digital payments and cryptocurrency into its financial ecosystem as part of a strategy to drive economic growth and inclusion, particularly for marginalized communities. The government’s 2024 budget emphasizes the importance of collaboration between the public and private sectors to foster financial innovation and build a digital economy. The
Recent developments have brought to light the concerning issue of government agencies beginning to collect data on Bitcoin mining firms. House Majority Whip Tom Emmer was quick to address this issue, warning that the Office of Management and Budget (OMB) had approved a request from the Energy Information Administration (EIA) to impose a new and
Ladan Stewart, a key member of the US Securities and Exchange Commission’s legal team, recently made the decision to step down from her position at the agency. Stewart, who had been serving as the Regional Trial Counsel in the SEC’s Crypto Assets and Cyber Unit since September 2022, has now joined White & Case as
The recent accusations made by Bayo Onanuga, a special adviser to Nigerian President Bola Tinubu, have sparked a heated debate regarding the role of Binance in the Nigerian economy. Onanuga accused Binance of manipulating the exchange rate for Nigeria, essentially taking over the role of the Central Bank of Nigeria (CBN). He called for action
The Hong Kong Monetary Authority (HKMA) recently introduced new regulatory standards for the sale and distribution of tokenized financial products by authorized institutions. These guidelines aim to promote innovation while maintaining strong consumer protection in the growing field of tokenization. With the use of distributed ledger technology, real-world assets (RWA) are represented digitally, leading to
In a strategic move ahead of the upcoming general elections, the People Power Party (PPP) in South Korea has announced plans to push for a further two-year delay in the implementation of crypto taxation. The decision to explore the delay as a key campaign promise aligns with the government and legislative consensus to prioritize regulatory
As the Bitcoin industry eagerly anticipates the arrival of a Bitcoin ETF, there is a growing concern that the custody of these assets may fall into the hands of traditional financial institutions like Goldman Sachs and JPMorgan. This shift towards institutional custodianship represents a departure from the original ethos of Bitcoin, which aimed to eliminate
The US Security and Exchange Commission’s (SEC) Office of Inspector General (OIG) is currently conducting an investigation into cryptocurrency-related financial conflicts of interest. This investigation was initiated after Empower Oversight raised concerns regarding failures in the SEC’s Ethics Office, specifically involving a former official named William Hinman. Hinman is accused of engaging in matters where