Iowa’s Judiciary Committee recently approved a digital asset bill titled “An act relating to commercial transactions, including control and transmission of electronic records and digital assets.” This progressive legislation aims to integrate digital assets and electronic records into commercial transactions, addressing the complexities and opportunities presented by digital assets within the legal framework of commerce.
Regulation
In a recent testimony to Congress, Brian Nelson, the Undersecretary for Terrorism and Financial Intelligence at the US Department of the Treasury, debunked widely held beliefs about the extent of cryptocurrency’s role in funding terrorist activities. Nelson’s insights, shared during the House Financial Services Committee hearing, challenged the narratives perpetuated by previous reports, specifically regarding
Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), has recently responded to lawmakers regarding a breach of the SEC’s X account. In his letter to the lawmakers, Gensler acknowledged the seriousness of the breach and assured them that the SEC takes its cybersecurity obligations seriously. Several House members, including Patrick McHenry,
In a recent court filing, it has been revealed that Elon Musk will be testifying in an inquiry conducted by the US Securities and Exchange Commission (SEC) regarding his acquisition of the social media platform Twitter, now known as X. Judge Laurel Beeler has upheld the SEC’s authority in this matter, stating that the subpoena
The New York Attorney General’s Office (NYAG) has recently expanded its fraud claims against Digital Currency Group (DCG) and its affiliates. The lawsuit, originally alleging over $1 billion in losses, has now been revised to include an additional $2 billion, bringing the total to a staggering $3 billion. This significant increase in losses is said
Treasury Secretary Janet Yellen has called on Congress to enact stricter regulatory measures for cryptocurrencies and to maintain vigilance on deploying artificial intelligence (AI) in financial services. Her recent testimony before the Senate Banking, Housing, and Urban Affairs Committee highlighted the increasing complexity and potential risks within the digital asset sector, as well as the
The Bank for International Settlements (BIS) has raised concerns about the potential fragmentation and the risk of dominance by private firms in the emerging metaverse. In a recent report, the BIS emphasizes the need for strategic oversight and public policies to ensure equitable access, data privacy, and consumer protections in this digital ecosystem. The report
In a recent development, Ark Invest and 21Shares have made amendments to their joint application for a spot Ethereum exchange-traded fund (ETF). This move aims to address certain concerns raised by the U.S. Securities and Exchange Commission (SEC) and pave the way for the potential approval of a spot Ethereum ETF. One of the key
Grayscale CEO Michael Sonnenshein recently made a public statement urging regulators to approve spot Bitcoin exchange-traded fund (ETF) options. In his statement, he emphasized the importance of developing a robust listed options market for spot Bitcoin ETFs. Sonnenshein argued for equal treatment of similar products, including bitcoin futures ETFs and spot bitcoin ETFs, and highlighted
The South Korean Financial Services Commission (FSC) is taking significant steps to tighten regulations in the virtual asset sector. The recent announcement of legislative amendments focuses on enhancing the accountability and duties of crypto executives. The aim is to create a more stable and trustworthy environment for businesses and consumers in this rapidly evolving industry.