A bill that promises regulatory clarity for digital assets has moved a step closer to a vote in the U.S. House. The House Committee on Rules said Friday (May 10) that it will consider the Financial Innovation and Technology for the 21st Century (FIT21) Act (H.R. 4763), which means the bill could go to a floor vote later in
U.S. regulators said an appeals court shouldn’t heed Coinbase’s request to review how – or if – conventional securities rules apply to cryptocurrencies. Coinbase, the largest U.S. crypto exchange, filed for permission to ask the Second Circuit Court of Appeals if the Howey Test, a longstanding Supreme Court assessment for securities, should apply to digital
There might be as many opinions about crypto as there are cryptocurrency tokens. And with tens of thousands of digital assets populating the crypto market, that’s certainly a lot of opinions. That sheer scale of noise is in part why it can be so challenging to get a clear view of the Web3 landscape —
Much of the crypto sector has been apprehensive about the ribbon cutting on Prometheum’s custody and trading operations, which the firm said will fully comply with U.S. Securities and Exchange Commission (SEC) demands. The doors have so far stayed shut well past the target date, but the company explained it’s still finishing a process for
Crypto goes up, and crypto goes down. Then, often, crypto goes back up. It can be a dizzying and volatile cycle. Just collapsed cryptocurrency exchange FTX’s customers, who, having once feared they’d lost their collective billions, can now take solace from the news Tuesday (May 7) that FTX’s bankruptcy team is ready to repay them
Three former executives with bankrupt crypto lender Cred were indicted Thursday on charges of conspiracy to commit wire fraud, wire fraud and engaging in financial transactions for illicit purposes. Daniel Schatt, a Cred co-founder and former CEO, Joseph Podulka, former CFO, and James Alexander, the former chief capital officer, were indicted by the U.S. Attorney’s
Crypto.com said it’s postponing a planned launch in South Korea after local news outlet Segye Ilbo reported on Monday that the exchange platform was facing an “urgent on-site inspection” over money laundering concerns. The report said that South Korea’s Financial Intelligence Unit (FIU) under the Financial Services Commission had discovered “problems related to anti-money laundering
The Consumer Financial Protection Bureau (CFPB) has issued an order against coding bootcamp BloomTech, also known as the Bloom Institute of Technology, and its CEO, Austen Allred, alleging that they deceived students about the real cost of loans and made false claims about the hiring rates of the bootcamp’s graduates. The order permanently bans BloomTech from all consumer-lending activities; bans Allred
The British government is reportedly readying legislation for stablecoins and crypto staking, exchange and custody. “We are now working at pace to deliver the legislation to put our final proposals for our regime in place,” said Economic Secretary Bim Afolami, whose comments Monday (April 15) at the Innovate Finance Global Summit were reported by CoinDesk. “Once it goes
Regulators in Singapore have given a license to cryptocurrency market maker GSR Markets. As Bloomberg News noted in a report late Wednesday (April 3), the move is a rare one for the digital asset space, where liquidity providers such as GSR still — in most cases — function without regulatory permits. Xin Song, CEO of GSR Singapore, said