Recently, the US Commodity Futures Trading Commission (CFTC) has launched an investigation into Jump Crypto, a prominent player in the cryptocurrency sector. While the exact reasons for the probe have not been disclosed, sources familiar with the matter have indicated that the federal agency is examining Jump’s trading and investment activities in the crypto industry.
Regulation
The recent news of the SEC closing its investigation into Ethereum 2.0 has sent ripples through the crypto market. This decision comes after Consensys sought clarity from the SEC following the approval of ETH ETFs, which classified ETH as a commodity. The closure of the investigation signifies a victory for Ethereum developers and industry participants,
The US SEC has once again raised concerns about Circle’s stablecoin, USDC, as the company attempts to go public through an IPO. The regulatory documents reveal that the SEC is worried about the classification of USDC and other stablecoins as securities under US law. This is not a new issue, as similar concerns were expressed
Recently, South Korea’s Financial Supervisory Service (FSS) made headlines regarding the rumored removal of multiple digital assets from local crypto exchanges. The FSS clarified its role in this matter, stating that it had instructed registered exchanges like Upbit, Bithumb, and Gopax to assess various tokens on their platforms. This directive is in alignment with the
On June 17, David Hirsch, the chief of crypto asset enforcement at the SEC, announced his departure from the agency. After serving for almost nine years, Hirsch expressed his pride in the work accomplished by the Crypto Assets and Cyber Unit team under his leadership. During his time at the agency, the team handled at
In recent decades, the world has experienced financial chaos as governments have printed money at will, leading to inflation, economic instability, and a decline in public trust in financial systems. The transition to fiat currency post-World War II fundamentally altered the financial landscape, providing flexibility but also paving the way for these issues. The introduction
Asset tokenization, particularly the tokenization of securities, has been recognized by SEC commissioner Mark Uyeda as having significant potential benefits. Uyeda emphasized that representing asset rights through digital tokens on a blockchain can bring about enhanced security, transparency, and immutability. In addition, tokenization can eliminate the need for intermediaries, thereby simplifying transactions and reducing associated
Coinbase recently voiced its objection to the SEC’s $2.6 billion budget request for the 2025 fiscal year. According to a statement provided to CryptoSlate on June 13, a Coinbase representative criticized the allocation of funds, stating that the SEC’s budget would primarily be used for enforcement purposes rather than for creating clear regulations in the
The European Banking Authority (EBA) recently introduced comprehensive guidelines focused on recovery plans for issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs) under the Markets in Crypto-Assets (MiCA) regulation. These guidelines are crucial in maintaining compliance with regulatory requirements and ensuring the stability and reliability of the crypto industry in the EU. The guidelines
In a recent hearing before the Senate Committee on Appropriations, CFTC chair Rostin Behnam expressed the agency’s readiness to take on additional responsibilities in the crypto space. Despite concerns about the agency “biting off more than it can chew,” Behnam emphasized that regulating crypto commodities falls within the CFTC’s purview. He highlighted a regulatory gap
