Rostin Behnam, the Chair of the U.S. Commodity Futures Trading Commission (CFTC), is set to vacate his position on January 20, coinciding with the inauguration of President-elect Donald Trump. This transition raises significant questions about the regulatory landscape for cryptocurrencies in the United States. Behnam’s resignation is more than just a personnel change; it signals
Regulation
In a significant move that has raised eyebrows within the cryptocurrency community, Banco de Investimentos Globais (BiG), a major Portuguese bank, has decided to block fiat transfers to cryptocurrency platforms. This decision was publicized by José Maria Macedo, the co-founder of Delphi Labs, who shared a notification indicating that this policy change is in accordance
In an intriguing twist of events, a recent survey conducted by the Alternative Investment Management Association (AIMA) highlights significant banking challenges faced by hedge funds operating within the crypto sector. According to a report from The Wall Street Journal dated December 20, around 120 out of 160 surveyed hedge funds, constituting approximately 75%, reported facing
The impending implementation of the Markets in Cryptoassets (MiCA) regulation in the European Union has triggered a wave of anxiety among market participants. Scheduled to fully take effect on December 30, the new framework introduces stringent requirements aimed at improving transparency and curbing illicit financial activities in the crypto market. Specifically, MiCA mandates that stablecoin
In a notable pivot to align itself with evolving regulatory frameworks, Tether has made significant strides by investing in StablR, a European stablecoin issuer. This investment emerges against the backdrop of impending implementation of the European Union’s Markets in Crypto-Assets Regulation (MiCA), which enforces rigorous compliance requirements for stablecoin issuers operating across Europe. Tether’s strategic
Tether, the issuer of the USDT stablecoin, has made waves in the cryptocurrency market by significantly increasing its Bitcoin holdings. Recent data from Arkham Intelligence revealed that Tether acquired a staggering 7,629 BTC, valued at around $705 million. This strategic purchase boosts Tether’s total Bitcoin assets to 82,983 BTC, collectively worth approximately $7.68 billion. As
In light of the complexities surrounding cryptocurrency taxation, the Internal Revenue Service (IRS) has recently implemented a temporary relief measure concerning the cost-basis reporting rules for digital asset transactions. This initiative serves as a crucial acknowledgment by the agency of the myriad challenges that investors face in a rapidly evolving market. The most significant change
In a decisive move to mitigate potential financial risks, China has unveiled stringent regulations focusing on foreign exchange activities, particularly those associated with cryptocurrencies. The South China Morning Post reports that these measures, spearheaded by the State Administration of Foreign Exchange, mandate financial institutions to closely monitor transactions that could indicate illicit activities like cross-border
Recent developments signal a pivotal shift in the financial landscape as traditional financial institutions begin to embrace cryptocurrency trading. Reports have surfaced that Morgan Stanley’s subsidiary, E-Trade, is gearing up to launch its own crypto trading platform. The driving force behind this strategic decision appears to be the anticipated regulatory changes under the incoming Trump
The implementation of the Markets in Crypto Assets Regulation (MiCA) in the European Union signifies a pivotal moment in the landscape of digital asset governance. As the EU steps forward with this comprehensive framework, stakeholders in the cryptocurrency and digital asset sectors are tasked with navigating a new regulatory terrain that promises both challenges and