South Korean financial authorities are considering imposing sanctions on several crypto exchanges that have failed to comply with local regulations. According to a report from local media Korea Economic Daily, the crypto exchanges include BitMEX, KuCoin, CoinW, Bitunix, and KCEX. S. Korea to Sanction Crypto Exchanges The Financial Intelligence Unit (FIU) of South Korea’s Financial...Read More
The U.S. Securities and Exchange Commission (SEC) is reportedly considering classifying XRP as a commodity rather than a security. This discussion is said to have emerged amid ongoing settlement negotiations between the agency and Ripple Labs, potentially signaling a shift in its regulatory stance. SEC Weighs XRP’s Commodity Status According to insiders cited by senior...Read More
The U.S. House of Representatives has passed H.J. Res 25, effectively rejecting the Internal Revenue Service’s (IRS) controversial broker rule. The resolution, which gained overwhelming bipartisan support, aims to protect decentralized finance (DeFi) innovation and prevent regulatory overreach. Taxing Requirement According to the DeFi Education Fund, 292 lawmakers voted in favor of the resolution while...Read More
The White House is preparing for its first crypto summit on Friday, March 7, and invites have been issued to industry leaders and experts. The event will be hosted by Trump’s AI and crypto czar, David Sacks, and industry leaders are hoping for regulatory clarity that could help the US retain blockchain talent and foster...Read More
A number of recent economic reports revealed cracks in the US economy’s resilience last week, with the lowest service-sector PMI reading in over two years. This week will see key GDP and PCE inflation data released which could rattle markets even further. “PCE inflation will be the final piece to the puzzle as both PPI...Read More
The financial regulator also appears to be easing up or pausing its rafts of ongoing litigation against crypto companies. However, those with imminent deadlines may still be on the table. “I’m told by multiple legal sources that the SEC has been prioritizing cases with imminent court deadlines, which is one explanation for why we haven’t...Read More
The U.S. Securities and Exchange Commission (SEC) has willingly withdrawn its appeal of a ruling that blocked its attempt to expand securities laws to cover decentralized finance (DeFi). This development means the DeFi space might no longer be subjected to securities laws. A Complete Victory for DeFi In a February 19 motion filed with the...Read More
Since Donald Trump won the U.S. presidential election in November last year, Bitcoin has broken its all-time high (ATH) price several times, and the head of state is crediting his strong support for digital assets as the driving force. He has also declared an end to the previous administration’s apparent hostility towards the crypto industry,...Read More
Cloris Chen – CEO of Singularity Finance – participated in a roundtable to discuss the future of cryptocurrency regulation, taxation on digital assets, and AI-driven financial innovation. US Senators Cynthia Lummis, Tim Scott, Bernie Moreno, Bill Hagerty, and Marsha Blackburn also attended the meeting. The Event’s Goal According to a document shared with CryptoPotato, Senator...Read More
Investor and podcast host Jason Calacanis has reignited debate over XRP’s classification, calling the token a “centrally controlled security” in a recent post on X. Calacanis questioned whether XRP should be considered decentralized, stating that if the Securities and Exchange Commission (SEC) allows it to trade like Bitcoin, then securities law will be worthless. Calacanis...Read More
The Financial Services Agency (FSA) of Japan is planning to recognize crypto assets as financial products equivalent to securities. As such, the agency has reportedly initiated discussions within a closed study group comprising experts to assess the current regulatory framework governing crypto assets. FSA’s Crypto Reform According to a report by ‘The Nikkei’ on February...Read More
The Seychelles-based cryptocurrency exchange KuCoin has released a performance review report detailing its activities and growth in 2024. According to a copy shared with CryptoPotato, the platform recorded growth across several areas, including the global user base, spot trades, futures market, compliance, and listings. KuCoin Releases 2024 Performance Report One aspect that stood out was...Read More
BitMEX co-founder Arthur Hayes has dismissed the idea of a U.S. Bitcoin reserve, calling it a politically driven and impractical concept. In his February 5 essay called “The Genie,” Hayes argued that government stockpiling of the cryptocurrency would serve political interests rather than financial stability. Bitcoin Reserve Would Be a Political Tool “What can be...Read More
Empower Oversight has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) to obtain the final report on the agency’s decision-making regarding crypto-related issues. The SEC Office of Inspector General (SEC OIG) completed the report over a year ago, but the agency has not yet disclosed it or provided the related documents despite...Read More
Lawmakers in the U.S. Senate have introduced a bipartisan bill they hope will create a clear regulatory framework for stablecoins. The legislation seeks to establish straightforward licensing standards, ensure consumer protection, and support financial innovation in crypto. Establishing a Regulatory Framework Known as the GENIUS Act, short for the Guiding and Establishing National Innovation for...Read More
The SEC is scaling back its special unit of more than 50 lawyers and staff members that were responsible for bringing crypto enforcement actions, according to a Feb. 4 New York Times report citing people with knowledge of the matter. Some of the lawyers in the crypto enforcement unit are being assigned to other departments...Read More
“I do think it would be helpful if there were a greater regulatory apparatus around crypto,” the US central bank chair said at the Federal Open Market Committee press conference on Jan. 29. He added that it is something Congress and the Fed have been “working on quite a lot.” “We’ve actually spent a lot of...Read More
After four years of steering crypto regulations and financial market oversight, former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is returning to the Massachusetts Institute of Technology (MIT). According to a January 27 statement from the research university, his focus will now shift to artificial intelligence (AI), fintech, finance, and public policy. Gensler’s...Read More
Chris Dixon, founding partner at a16z Crypto, claims that misguided regulations fueled the meme coin explosion witnessed in 2024. The venture capitalist criticized the Biden administration’s approach to digital assets, arguing that its restrictive policies stifled real innovation and left the market with mostly speculative tokens. A Distorted Crypto Sector Speaking to prominent crypto journalist...Read More
David Sacks has introduced a new perspective on non-fungible tokens (NFTs) and meme coins, describing them as a distinct class of digital assets. In an interview with Fox Business, the AI and crypto czar spoke on the growing complexity of classifying digital assets, categorizing the two as collectibles. Digital Asset Classification “When you talk about...Read More
Donald Trump’s executive order on crypto, titled “Strengthening American Leadership in Digital Financial Technologies,” has been signed. Here’s exactly what’s inside the order – which utterly revokes that of the more crypto-hostile Biden administration from two years ago. Broadly, the order establishes the “President‘s Working Group on Digital Asset Markets.” It will be chaired by...Read More
U.S. President Donald Trump signed an executive order on Thursday to review the creation of a “National Digital Asset Stockpile,” according to Fox News. As reported by FOX Business White House correspondent Edward Lawrence and shared by partner Eleanor Terret, the executive order established a “Presidential Working Group” on digital assets. This group is tasked...Read More
Blockchain developer Michael Lewellen has filed a lawsuit against the U.S. Department of Justice (DOJ), accusing the Biden administration of undermining cryptocurrency innovation by broadly interpreting money transmission laws. Lewellen, a fellow at the nonprofit advocacy group Coin Center, argues that the administration’s actions have discouraged developers from building blockchain tools and forced talent to...Read More
The U.S. Securities and Exchange Commission (SEC) has formally appealed against a 2023 ruling that found sales of Ripple’s XRP token on crypto exchanges did not break securities laws. According to the regulator, District Court Judge Analisa Torres was “factually and legally” wrong when she concluded that offers and sales of XRP to the public...Read More
Congressman Tom Emmer, a well-known advocate for the cryptocurrency industry, has been named Vice Chair of the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. Committee Chairman French Hill made the announcement on January 14 as part of the House Financial Services Committee’s subcommittee assignments for the 119th Congress. Appointment Details Emmer expressed...Read More
The U.S. Supreme Court has rejected a petition from Binance and its founder, Changpeng Zhao. The two parties sought a review of a ruling that applies U.S. securities laws to the exchange despite its lack of a physical headquarters. The Supreme Court’s Ruling The January 13 ruling follows a lawsuit by investors who accused the...Read More
On Jan. 12, ranking member of the Senate Committee on Banking, Housing, and Urban Affairs, Elizabeth Warren, penned a 31-page letter to Treasury Secretary-designate Scott Bessent suggesting harsh measures for crypto regulation. The letter was shared by the vice president of government affairs at Paradigm, Alexander Grieve, who pointed out that she was instantly on...Read More
The U.S. Court of Appeal for the Third Circuit has ruled that the Securities and Exchange Commission (SEC) must provide a detailed explanation of why it denied a petition by Coinbase for crypto-specific regulations. This decision follows years of tension between the regulator and the crypto sector over the lack of clear guidelines. Judicial Rebuke...Read More
Indian cryptocurrency exchange Mudrex has announced that it has temporarily halted crypto withdrawals. It says this pause is part of efforts to upgrade its compliance suite, which aims to maintain its security standards and prevent misuse by bad actors. Backlash and Clarification In a January 12 announcement, the exchange stated, “To enhance the security of...Read More
The U.S. Senate Banking Committee, led by Chairman Tim Scott, is reportedly planning to establish its first subcommittee dedicated to cryptocurrency. This initiative marks an important milestone in the Senate’s approach to regulating the digital assets industry. Cynthia Lummis Selected as Chair Fox Business reporter Eleanor Terret shared the development in a January 10 post...Read More
