Louisiana Governor Jeff Landry recently signed a bill, HB 488, aimed at regulating the use of central bank digital currencies (CBDCs) and protecting the practice of crypto mining within the state. The bill prohibits governing authorities from accepting or mandating payments in CBDCs, as well as from participating in CBDC trials conducted by the Federal
Regulation
Recently, MarketWatch reported that Coinbase, a prominent cryptocurrency exchange platform, could potentially face regulatory challenges due to its compliance with new Financial Accounting Standards Board (FASB) rules. These rules, which were agreed upon in 2023 and are set to take effect in 2025, shift the accounting and disclosure practices for cryptocurrencies to a fair-value model.
Ripple is once again facing legal issues as a US judge in California has approved a lawsuit against the crypto company. The lawsuit revolves around alleged misleading statements made by Ripple’s CEO, Brad Garlinghouse. The case is set to go to trial, where a jury will determine whether investors were misled by Garlinghouse’s comments during
Recently, the US Commodity Futures Trading Commission (CFTC) has launched an investigation into Jump Crypto for reasons that have not been disclosed to the public. According to Forbes, sources familiar with the matter have reported that the federal agency is looking into the firm’s trading and investment activities in the crypto sector. It is important
The recent closure of the SEC investigation into Ethereum 2.0 has brought relief to Ethereum developers and industry participants. This decision by the SEC confirms that sales of ETH are not considered securities transactions. Following this announcement, Ethereum experienced a surge of over 4% in value overnight, influencing other projects in the crypto market positively.
The U.S. Securities and Exchange Commission (SEC) has once again raised concerns regarding the status of Circle’s stablecoin, USDC, as the company moves forward with plans for a multi-billion dollar initial public offering (IPO). According to Barron’s, the SEC has expressed worries about the potential classification of USDC and other stablecoins as securities under U.S.
Recently, the Financial Supervisory Service (FSS) in South Korea has come forward to clarify its role in the removal of digital assets from local cryptocurrency exchanges. There were reports circulating on June 17th that the FSS had instructed registered exchanges such as Upbit, Bithumb, and Gopax to evaluate several tokens listed on their platforms. This
Recently, David Hirsch, the chief of crypto asset enforcement at the SEC, announced his departure from the agency on June 17. Having served at the agency for nearly nine years, Hirsch expressed pride in the work accomplished by the Crypto Assets and Cyber Unit team under his leadership. Hirsch took the lead of the SEC’s
Currency has played a vital role in organizing societies and shaping human experiences throughout history. From bartering to standardized coins and paper money, the evolution of currencies has been instrumental in advancing civilizations. However, the transition to fiat currency post-World War II has raised concerns about financial instability and the erosion of public trust. In
Asset tokenization, particularly the tokenization of securities, has been recognized by SEC commissioner Mark Uyeda as having significant potential benefits. Uyeda highlighted the advantages of representing asset rights with digital tokens on a blockchain, such as increased security, transparency, and immutability. Furthermore, he emphasized that tokenization eliminates the need for intermediaries, thus simplifying transactions and
