In a controversial move, North Carolina’s lawmakers have successfully overturned Governor Roy Cooper’s veto on a bill that aimed to prevent the state from implementing a central bank digital currency (CBDC). The Republican-controlled Senate voted 27-17 in favor of House Bill 690, surpassing the required 60% threshold to override the governor’s rejection. This decision effectively
Regulation
Coinbase CFO Alesia Haas recently disclosed that Vice President Kamala Harris’s campaign has embraced the use of Coinbase Commerce to accept cryptocurrency donations. This revelation was made during a discussion with Citigroup’s director of payments, Peter Christiansen, at the lender’s 2024 Global TMT Conference in New York. The move signifies a shift towards modernizing the
Recently, the Federal Reserve issued a cease and desist order to United Texas Bank (UTB) on Aug. 29, directing it to stop offering crypto services. This action came after an examination conducted by the Federal Reserve Bank of Dallas and the Texas Department of Banking in May 2023. The examination identified alleged deficiencies in UTB’s
Robinhood’s crypto division recently agreed to pay a $3.9 million fine as part of a settlement with the California Attorney General’s office. This comes after an investigation found that Robinhood Crypto prevented users from withdrawing their digital assets between 2018 and 2022. Additionally, the company failed to fully disclose details about its trading and order-handling
The recent case involving hedge fund Galois Capital Management LLC and the US Securities and Exchange Commission (SEC) sheds light on the importance of adhering to client asset safeguarding requirements, especially in the crypto sector. The SEC charged Galois Capital with failing to comply with the Custody Rule provisions, putting investors at risk of losing
In a recent speech at the Korea Blockchain Week 2024 event, US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda raised a critical issue regarding the lack of specialized S-1 registration forms for digital asset securities. Uyeda emphasized the necessity of updating the SEC’s regulatory tools to better accommodate the unique features of digital
Congressman Wiley Nickel has taken a bold stance against the US Securities and Exchange Commission (SEC), accusing the agency of eroding trust in the regulatory system with its “regulation by enforcement” strategy. He believes that this approach is a blatant abuse of power that could potentially stifle digital innovation in the United States. Nickel has
The US Securities and Exchange Commission (SEC) has recently raised concerns regarding the proposed repayment strategy in the ongoing FTX bankruptcy case. The plan, which involves repaying creditors through stablecoins or other digital assets, has led the SEC to reserve the right to challenge these transactions under federal securities laws. This move has sparked criticism
The Qatar Financial Centre (QFC) in Doha has recently introduced a groundbreaking regulatory framework for digital assets. This framework, known as the QFC Digital Assets Framework 2024, aims to establish a secure and transparent ecosystem for digital assets within the QFC. One of the key aspects of this framework is the invitation to both local
The US Securities and Exchange Commission (SEC) has recently emphasized the importance of providing retail investors with more timely access to fund portfolio data. This data is vital for investors to make informed decisions, especially during times of market uncertainty such as the COVID-19 pandemic and geopolitical events. However, the current regulatory framework requires registered