The European Securities and Markets Authority (ESMA) has recently announced a review of the rules governing crypto asset investments by UCITS (Undertakings for Collective Investment in Transferable Securities) in response to a request from the European Commission (EC). This review is part of a broader examination of the EU’s financial regulatory framework to keep pace
Regulation
The Blockchain Integrity Act, a new bill proposed by US lawmakers, has sparked a significant debate within the crypto community. This bill aims to impose a temporary ban on financial institutions from engaging in transactions involving funds that have been through crypto mixers. Congressman Sean Casten introduced the bill on May 7, with support from
Coinbase chief legal officer Paul Grewal recently took to social media to criticize US SEC Chair Gary Gensler for what he perceives as misleading statements about the legal status of cryptocurrencies. Grewal disputed Gensler’s claim that many digital assets should be classified as securities, pointing out that the SEC’s own lawyers have previously acknowledged that
Recently, Robinhood’s cryptocurrency division found itself in hot water after receiving a Wells Notice from the US Securities and Exchange Commission (SEC) on May 4. The SEC had been conducting an investigation into Robinhood’s cryptocurrency listings, custody practices, and platform operations, ultimately recommending an enforcement action against the popular trading app. This news came as
Rep. Maxine Waters, a prominent member of the US House Committee on Financial Services, recently proposed the nomination of Ms. Kristin Johnson for the position of Assistant Secretary for Financial Institutions at the US Department of Treasury. Waters highlighted Johnson’s extensive experience in financial regulation and her dedication to maintaining the integrity of financial markets
The recent scrutiny faced by fintech giant Block, involving its main business units Square and Cash App, has brought to light serious compliance failures. Federal prosecutors from the Southern District of New York launched an investigation following allegations of significant lapses in the company’s transaction monitoring systems. These allegations have raised concerns about the company’s
House Financial Services Committee Chairman Patrick McHenry has recently accused SEC Chair Gary Gensler of providing misleading information to Congress regarding the classification of Ethereum during his testimony in April 2023. This accusation has ignited tensions over the regulatory approach to digital assets, prompting some industry participants to file lawsuits against the SEC for exceeding
The recent actions by the SEC against Uniswap have put DeFi in the spotlight, raising concerns about compliance and regulatory oversight. The SEC’s allegations against Uniswap for acting as an unregistered securities broker and exchange highlight the ongoing battle between decentralized platforms and regulatory authorities. While Uniswap has defended itself by stating that it is
US Senators Elizabeth Warren and Bill Cassidy have come together to voice their concerns regarding the use of cryptocurrency in the illegal trade of child sexual abuse material. They have highlighted the anonymity provided by cryptocurrencies as a key factor that enables the flow of payments for such heinous activities in the digital realm. The
The recent approval of new Anti-Money Laundering Regulations (AMLR) by the European Parliament has significant implications for Crypto Asset Service Providers (CASP) in Europe. These regulations will require CASPs to implement stringent Know Your Customer (KYC) procedures in order to combat money laundering effectively. The new laws mandate enhanced due diligence measures and checks on
