In a significant turn of events, the U.S. Securities and Exchange Commission (SEC) has chosen not to appeal a recent court ruling that deemed its rejection of Grayscale Investments’ proposed Bitcoin exchange-traded fund (ETF) as unjust. The decision by the District of Columbia Court of Appeals in Washington, which took place in August, overturned the
Regulation
U.S. Senators Elizabeth Warren and Angus S. King, Jr. are pushing for urgent action on the implementation of recently proposed tax reporting rules for cryptocurrency brokers by the U.S. Department of the Treasury and the Internal Revenue Service (IRS). The senators have raised concerns over the two-year delay in enforcing the rules, which is estimated
The Federal Open Market Committee (FOMC) recently convened to discuss the current economic landscape, and while they affirmed their commitment to higher interest rates, the meeting shed light on multiple concerns facing the economy. This article delves deeper into the key points discussed during the meeting and analyzes the potential implications for monetary policy moving
The Financial Conduct Authority (FCA) in the United Kingdom has taken action against Binance’s local partner, Rebuildingsociety.com, by restricting its ability to approve financial promotion content from unauthorized individuals or entities. This move highlights the ongoing regulatory challenges faced by Binance in the UK market. According to information posted on the FCA’s website, Rebuildingsociety.com must
Elon Musk, the renowned entrepreneur and CEO of Tesla and SpaceX, finds himself facing a challenging scenario as he attempts to contest the U.S. Securities and Exchange Commission (SEC). The SEC recently announced legal action against Musk, seeking to force him to comply with a subpoena and provide testimony regarding his acquisition of Twitter (now
Cryptocurrency platforms have been plagued by recent significant hacks, causing concern over consumer protections. The US Consumer Financial Protection Bureau (CFPB) is now evaluating the application of the Electronic Fund Transfer Act (EFTA) to address these vulnerabilities. The agency aims to delve deeper into the operational dynamics of influential tech entities, including their handling of
Binance, one of the world’s leading cryptocurrency exchanges, recently announced the launch of a new subpage dedicated to serving its customers in the United Kingdom. This move comes as a response to the updated Financial Promotion Regime in the UK, which necessitated compliance with local regulations. In this article, we will analyze the implications of
Elon Musk, the renowned owner and CTO of X (formerly Twitter), recently voiced his concerns over the current state of the United States’ main securities regulator and other relevant agencies. On October 5th, Musk took to Twitter and called for a comprehensive overhaul of these regulatory bodies, emphasizing the importance of holding accountable those individuals
The world of crypto assets and decentralized finance (DeFi) has gained significant traction in recent years. Recognizing the need to delve deeper into this rapidly growing industry, the Bank for International Settlements (BIS) has taken a significant step forward. In partnership with central banks within the Eurosystem, the BIS has announced the launch of Project
The Worldcoin controversy has sent shockwaves through Kenya’s digital landscape, uncovering potential acts of espionage and posing a significant threat to the nation’s statehood. Operating in various locations across Nairobi, including malls and learning institutions, Worldcoin allegedly mined data from Kenyan citizens by scanning their irises in exchange for cryptocurrency tokens. As the investigations unfold,