The Financial Innovation and Technology for the 21st Century (FIT21) Act has been a subject of significant debate and controversy within the cryptocurrency industry. Despite being hailed for providing regulatory clarity, the Chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, has expressed strong opposition to the bill, citing concerns about its potential
Regulation
Uniswap Labs has recently issued a bold response to the SEC’s Wells notice, pushing back against the agency’s attempts to regulate decentralized finance (DeFi). In a blog post dated May 20, the company expressed confidence in its position and readiness to defend itself if faced with litigation. Uniswap Labs firmly believes that the SEC’s focus
Recent developments in the world of Spot Ethereum ETFs have sparked optimism among applicants. The Securities and Exchange Commission (SEC) has requested spot Ethereum ETF applicants to update their 19-b4 filings. This move has led to speculations that there might be a shift in the SEC’s stance on approving the pending applications. ETF analysts like
The likelihood of the SEC approving spot Ethereum ETFs by the end of the month is a topic of much debate within the cryptocurrency community. Various analysts have differing opinions on the matter, with some expressing optimism while others remain skeptical. In a recent report, Coinbase Institutional Research Analyst David Han provided insights into the
Oklahoma has made history by becoming the first state in the United States to legally protect the right to self-custody Bitcoin through the passing of a new bill. This legislation, known as the ‘Bitcoin Rights’ bill or HB3594, was signed into law by Republican Governor Kevin Stitt. The bill explicitly states that residents of Oklahoma
The US Treasury Department is gearing up to take on the risks associated with cryptocurrencies and emerging technologies. In its 2024 National Strategy for Combating Terrorist and Other Illicit Financing report, the Treasury has highlighted digital assets as a significant area of concern. The report outlines a comprehensive approach to combat illicit use of these
Oklahoma has taken a significant step towards protecting the rights of cryptocurrency users with the recent approval of HB 3594 by Governor Kevin Stitt. This groundbreaking legislation, set to take effect on November 1, prohibits the state government from limiting the use of crypto in purchases or self-custody. Additionally, state and local authorities are barred
Deutsche Bank has recently made headlines by showing a keen interest in digital assets and tokenization through its involvement in the Monetary Authority of Singapore’s Project Guardian. This initiative, which aims to test asset tokenization applications in a regulated environment, is focused on assessing the viability and potential integration of such technologies within the financial
Recently, Senators Cynthia Lummis and Ron Wyden voiced their opposition to the Department of Justice’s proposed expansion of the definition of a money-transmitting business. In a letter addressed to US Attorney General Merrick Garland, the lawmakers expressed concerns that the broad interpretation could potentially criminalize non-custodial crypto asset software services. They argued that the DOJ’s
The International Monetary Fund (IMF) has recommended that Nigeria embrace the regulated use of digital assets by licensing international crypto exchanges. This recommendation comes at a time when Nigeria is facing a regulatory crackdown on crypto activities, including a legal dispute with Binance and a proposed ban on peer-to-peer (P2P) trading. The IMF believes that
