The looming departure of Gary Gensler as the Chair of the Securities and Exchange Commission (SEC) has reignited discussions about the regulatory environment surrounding cryptocurrencies. Gensler’s skepticism and aggressive enforcement actions against the crypto sector have drawn sharp criticism from various stakeholders within the industry. In a recent interview, he reiterated his stance, declaring the
Regulation
Recent reports indicate that South Korea is on the verge of easing its restrictions on cryptocurrency trading for institutional investors. This change, driven by a desire to modernize regulations and align with global standards, is a key indicator of the country’s evolving attitude towards digital assets. Local news agency Yonhap disclosed that the Financial Services
Rostin Behnam, who has served as the Chair of the Commodity Futures Trading Commission (CFTC), has announced that he will resign effective January 20, coinciding with the inauguration of President-elect Donald Trump. This timing is critical; it allows the new administration to select an interim leader while Congress works on confirming a permanent successor. Behnam’s
Banco of Investimentos Globais (BiG) stands as one of the leading financial institutions in Portugal, boasting an impressive asset management portfolio valued at nearly €7 billion in 2023, which is approximately $7.2 billion. Recently, BiG made headlines by instituting a restriction on fiat transfers to cryptocurrency platforms. This move sparked considerable discussion within the financial
Recent findings from a survey conducted by the Alternative Investment Management Association (AIMA) reveal a troubling trend for hedge funds in the cryptocurrency space. Approximately 120 out of 160 funds surveyed reported significant challenges in securing banking services, which translates to a staggering 75% encountering issues. This data starkly contrasts with alternative investment firms in
As the European Union prepares to implement its new crypto regulations under the Markets in Cryptoassets (MiCA) framework, the atmosphere within the cryptocurrency market is charged with uncertainty. These rules, which become effective on December 30, have sparked significant debate regarding their potential consequences on market liquidity and operational efficiency for exchanges across the continent.
As the implementation of Europe’s Markets in Crypto-assets (MiCA) regulations looms, the stablecoin market is poised for significant transformation. This framework aims to standardize the issuance and governance of stablecoins across the European Union, mandating that issuers maintain significant reserves and adhere to rigorous transparency standards. In the face of these developments, Tether, a longstanding
In a significant move to strengthen its position in the cryptocurrency market, Tether, the issuer of the USDT stablecoin, has expanded its Bitcoin (BTC) portfolio by acquiring 7,629 BTC for approximately $705 million. This transaction, confirmed through on-chain data from Arkham Intelligence, elevates Tether’s total Bitcoin holdings to a substantial 82,983 BTC, valued at around
The Internal Revenue Service (IRS) has recently announced a temporary exemption regarding its crypto cost-basis reporting rules, a move that has garnered significant attention within the digital asset investment community. This decision marks the IRS’s acknowledgment of the intricate nature of crypto taxation and the urgent need for flexible regulatory frameworks amid a rapidly evolving
China has recently implemented a set of stringent regulations aimed at monitoring and controlling high-risk foreign exchange dealings, particularly those involving cryptocurrencies. The South China Morning Post highlights that the State Administration of Foreign Exchange (SAFE) has mandated banks to actively observe and report any suspicious transactions linked to cross-border gambling operations, underground financial systems,