As Gary Gensler prepares to exit his role as Chair of the Securities and Exchange Commission (SEC), his tenure has been marred by palpable tension with the cryptocurrency industry. Crypto stakeholders have voiced mounting criticism toward Gensler, highlighting a pervasive sense of dissatisfaction regarding his stringent regulatory stance. In a recent interview with Bloomberg, Gensler
Regulation
South Korea is on the brink of a revolutionary change in its approach to cryptocurrency regulations, particularly for institutional investors. Recent reports indicate that the Financial Services Commission (FSC) is preparing to relax existing restrictions, potentially unveiling a new framework that would allow institutional players greater access to the digital asset market. Up until now,
Rostin Behnam, the Chair of the US Commodity Futures Trading Commission (CFTC), has officially announced his resignation effective January 20. This date is significant as it aligns with the inauguration of President-elect Donald Trump, providing an opportunity for the new administration to appoint an interim successor. The transition represents a crucial juncture for the CFTC,
Banco de Investimentos Globais (BiG), a significant player in Portugal’s banking landscape, has recently made waves by blocking fiat transfers to cryptocurrency platforms. This development has raised eyebrows within both the financial and crypto communities. The announcement, delivered through a notification by José Maria Macedo, co-founder of Delphi Labs, highlights BiG’s compliance with multiple regulatory
In recent years, the cryptocurrency sector has been heralded as a ground-breaking financial frontier, attracting a myriad of hedge funds eager to delve into digital assets. However, a troubling trend has emerged: a significant number of these funds have struggled to secure conventional banking services. According to a report from The Wall Street Journal on
As the European Union prepares to implement the Markets in Crypto-Assets (MiCA) regulations, stablecoin issuers are facing unprecedented pressures to adhere to stricter guidelines. This regulation aims to create a robust framework for the stablecoin market, ensuring that all issuers maintain verifiable reserves and operate under standardized governance. In light of these changes, Tether, the
The European Union is on the brink of implementing its highly anticipated regulations regarding cryptocurrencies, notably under the Markets in Cryptoassets (MiCA) framework. As the compliance deadline of December 30 looms, exchanges across the region are bracing for an array of operational changes. The mandate to delist Tether’s USDT, which is the most utilized stablecoin
In an ambitious move that solidifies its presence in the cryptocurrency market, Tether has recently expanded its Bitcoin holdings with the acquisition of 7,629 BTC, valued at an impressive $705 million. This strategic purchase brings Tether’s total Bitcoin reserves to a substantial 82,983 BTC, equivalent to approximately $7.68 billion at current market prices. Such a
The Internal Revenue Service (IRS) recently announced a temporary reprieve concerning the rules associated with cost basis reporting for cryptocurrencies. This decision is particularly significant for investors navigating the complex landscape of digital asset taxation. By postponing the stringent requirements that would obligate centralized crypto exchanges to adopt the First In, First Out (FIFO) accounting
Recent developments indicate a significant shift within the financial industry as major players like Morgan Stanley’s subsidiary, E-Trade, prepare to enter the cryptocurrency trading space. Reports have emerged suggesting that E-Trade is strategically positioning itself to launch crypto trading services, largely driven by the expectation of a more favorable regulatory environment under the impending administration
