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
Regulation
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
South Korean lawmakers have recently put forward a bill that suggests postponing the implementation of the crypto gain tax until 2028. This proposal comes at a time when there is a noticeable decline in positive sentiments surrounding the cryptocurrency industry. The lawmakers argue that the taxation of virtual assets may not be ideal at this
In a surprising revelation, X CTO and chairman Elon Musk accused the European Commission (EC) of proposing an “illegal secret deal” to censor speech on the social media platform in order to avoid facing fines within the EU. Musk took to social media on July 12 to voice his concerns after the EC published its
After more than three years of scrutiny, the Securities and Exchange Commission (SEC) has finally closed its investigation into Hiro and the Stacks blockchain. This marks a significant milestone for the Bitcoin Layer-2 network, which has been under the regulatory microscope since the first-ever SEC-qualified offering by Stacks in 2019. The news of the investigation
The recent announcement from the SEC stating the closure of its investigation into Hiro Systems and the Stacks blockchain without recommending any enforcement action marks a significant milestone in the history of the Bitcoin Layer-2 network. After more than three years of scrutiny, the news has brought relief to the team behind Hiro Systems and
The UK Law Commission recently released a scoping paper addressing the potential legal characterization of Decentralized Autonomous Organizations (DAOs) in the country. DAOs are blockchain-based communities created for a shared goal, such as investing in start-ups or purchasing historical documents. This paper raises an essential issue by pointing out the lack of consensus on what
