Republican lawmakers on the US House Financial Services Committee have called on the Securities and Exchange Commission (SEC) to withdraw its proposed rulemaking regarding crypto exchanges. The lawmakers have expressed concerns over the proposed amendment that would expand the definition of “exchange” under Rule 3b-16 of the Securities Exchange Act of 1934. They have argued
Regulation
XRP reached a 10-week high after documents related to former Securities Exchange Commission (SEC) Director William Hinman were made public. The SEC filed against Ripple in December 2020, alleging that the company and two senior executives had raised $1.3 billion through the sale of XRP tokens, which the agency deems unregistered securities. A major part
According to a recent Bloomberg report, Binance.US and the U.S. Securities Exchange Commission (SEC) might reach a compromise agreement. The agreement, if reached, could avoid a complete asset freeze. The SEC had first filed charges against Binance.US and some related companies on June 5. In response, the SEC requested a restraining order and asset freeze
The cryptocurrency industry is currently facing regulatory challenges and lawmakers in the United States and the United Kingdom are set to bring the discussion into the public sphere. On June 13, both nations will host high-profile hearings, marking a pivotal moment in the ongoing debate over digital asset regulation. The UK Debate The U.K. Parliament
Two United States lawmakers, Warren Davidson and Tom Emmer, introduced a new bill on June 12, named “the SEC Stabilization Act,” with the aim of restructuring the United States Securities and Exchange Commission and removing its current chairman, Gary Gensler. The lawmakers stated that the bill would change the current structure of the financial regulator,
Jeremy Allaire, the CEO of Circle, has published a blog post on June 12th detailing his prepared remarks for his upcoming testimony before Congress regarding draft stablecoin regulation. Allaire believes that the stablecoin bill is a crucial piece of legislation that should be the first step in creating a regulatory framework that builds the conditions
Brian Armstrong, the CEO of Coinbase, has called for regulatory clarity in the US crypto industry. Speaking to The Wall Street Journal, Armstrong stated that there is an ongoing power struggle between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and Coinbase has been “caught in the middle” of this
eToro, a trading platform that provides access to both stock and cryptocurrency markets, has announced that it will restrict access to certain cryptocurrency positions for US users. The decision comes as a result of regulatory concerns in a rapidly evolving landscape. Details of the Restriction According to an email shared with CryptoSlate on June 12,
Robinhood, the US-based digital trading app, has announced that it will no longer support three major cryptocurrencies on its platform. The company has advised its users to sell or transfer their holdings before the deadline of June 27, after which the tokens will be automatically sold and converted to buying power on the app. Reason
Jay Clayton, former chair of the US Securities and Exchange Commission (SEC), has given his thoughts on the agency’s current approach to cryptocurrency regulation. Speaking at Bloomberg Invest on June 8, Clayton commented on recent charges filed by the SEC against Binance and Coinbase, which began on June 5. When asked if he would have