The founders of Andreessen Horowitz (a16z), Ben Horowitz and Marc Andreessen, shed light on the challenges plaguing the cryptocurrency industry under the current administration. They are critical of the Biden-Harris Administration’s approach to regulating the sector, citing a lack of clear guidance from the Securities and Exchange Commission (SEC) on which cryptocurrencies are classified as
Regulation
Recently, the Russian State Duma made a significant decision to legalize Bitcoin mining and allow the use of cryptocurrencies for international trade. This bill, which has been in the works for a few years, is set to come into effect on September 1 pending final approval. The legislation aims to address the challenges faced by
The Financial Technology Protection Act is a crucial piece of legislation that recently passed through the United States House of Representatives. The bill, introduced by Representative Zach Nunn, has garnered unanimous support from lawmakers and aims to address the growing concern of digital platforms being used for illicit activities and terrorism financing. One of the
In a recent letter addressed to Vice President Kamala Harris, the Digital Chamber made a compelling case for the adoption of a forward-looking approach to digital assets and blockchain technology. The Chamber stressed the transformative potential of these technologies in driving innovation, fostering economic growth, and promoting financial inclusion. Despite the growing support for digital
The CEO and founder of DAIM, Brian Korshain, expressed optimism about the potential impact of former President Donald Trump’s support for Bitcoin. He mentioned Trump’s rumored plan to make Bitcoin a strategic reserve asset for the US government, calling it “possible” but also cautioning that it could be “very difficult to get it done.” Korshain
The recent announcement by President Joe Biden of his withdrawal from the 2024 presidential race has sent shockwaves through the political landscape. According to 10x Research, this decision could pave the way for former President Donald Trump to secure a “decisive victory” in the November election. The firm has boldly stated that no credible candidate
The recent release of the final disclosure framework by the Basel Committee on Banking Supervision signifies a significant step towards enhancing transparency and regulatory standards in the field of digital assets. This framework, known as DIS55, requires banks to provide detailed information on their crypto activities through standardized tables and templates. By mandating banks to
Recently, Hong Kong’s financial regulators announced the conclusion of a consultation period over a licensing program initiative for fiat-referenced stablecoin (FRS) providers. The consultation, which ended in February, received 108 submissions from various stakeholders, including market participants, industry associations, and professional organizations. The Monetary Authority (HKMA) and the Financial Services and Treasury Bureau (FSTB) revealed
In recent years, the cryptocurrency industry has been witnessing a significant surge in lobbying expenditures, as revealed by a new study conducted by Social Capital Markets. The study highlights a remarkable 1,386% increase in lobbying spend by crypto companies over the past seven years, signaling a growing trend of major players in the financial sector
Coinbase, Ripple, and Andreessen Horowitz (a16z) are planning to send representatives to both the Republican National Convention (RNC) and the Democratic National Convention (DNC). This move signifies their intention to engage with GOP power brokers and make a case for policies that are favorable to the crypto industry. The companies’ participation in both political conventions
