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
Regulation
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
Following a $4.5 billion settlement with the SEC, Terraform Labs CEO Chris Amani has announced that Terra will transition into a community project. Amani emphasized the importance of the community taking ownership of the chain as the company winds down its operations. He mentioned that specific teams and developers are interested in taking over the
The EU Innovation Hub for Internal Security has recently published a detailed report on encryption, with a significant focus on issues related to cryptocurrencies. The report, developed in collaboration with Europol, Eurojust, and other EU agencies, examines the impact of cryptocurrencies on law enforcement operations. According to the report, the use of cryptocurrencies poses unique
Nadine Chakar, the global head and managing director of DTCC Digital Assets, presented a compelling argument for the benefits of tokenization during her testimony before the House Financial Services Subcommittee on Digital Assets. Her testimony focused on the potential of tokenizing real-world assets and how it could impact the US financial markets positively. Chakar emphasized
