The Russian State Duma recently approved a bill that legalizes Bitcoin mining and allows the use of cryptocurrency for international trade. The passing of this bill marks a significant shift in Russia’s approach to digital assets and currencies, aiming to enhance trade relations and challenge global regulatory norms. The new legislation establishes a regulatory framework
Regulation
In a unanimous decision, the United States House of Representatives passed the Financial Technology Protection Act, signaling a significant step in the fight against illicit activities and terrorism financing through digital means. This bill, introduced by Representative Zach Nunn, aims to establish a governmental working group to address these issues effectively. The proposed working group
In a recent letter to Vice President Kamala Harris, the Digital Chamber emphasized the urgent need for a forward-looking approach to digital assets and blockchain technology. The Chamber highlighted the transformative benefits of these technologies, stressing their potential for driving innovation, fostering economic growth, and promoting financial inclusion. The letter expressed concerns about the cautious
Brian Korshain, the CEO and founder of DAIM, recently expressed strong optimism about the potential impact of former President Donald Trump’s support for Bitcoin. He mentioned that Trump’s rumored plan to make Bitcoin a strategic reserve asset for the US government could have a significant effect on the cryptocurrency market. However, he also acknowledged that
President Joe Biden’s withdrawal from the 2024 presidential race has sparked discussions about the potential outcomes of the upcoming election. According to 10x Research, this move could pave the way for former President Donald Trump to secure a “decisive victory” in November. The firm argues that no credible candidate can seriously challenge Trump, suggesting that
The Basel Committee on Banking Supervision has recently released its finalized disclosure framework for banks’ crypto exposures. This framework, known as DIS55, requires banks to provide detailed information on their crypto activities through standardized tables and templates. The purpose of this framework is to enhance transparency and ensure a consistent regulatory approach in the rapidly
Recently, crypto exchange OKX made the decision to select Malta as its Market in Crypto-Assets (MiCA) hub to cater to the 450 million residents of the European Union. By establishing itself in Malta, OKX aims to provide services that are fully compliant with local regulations, while also ensuring seamless deposit and withdrawal connectivity to local
Hong Kong’s financial regulators have recently completed a consultation period regarding the licensing program for fiat-referenced stablecoin (FRS) providers. This initiative has garnered significant attention from various stakeholders in the financial industry. The Monetary Authority (HKMA) and the Financial Services and Treasury Bureau (FSTB) received 108 submissions during the consultation period. The majority of respondents
In recent years, there has been a significant surge in lobbying expenditures within the crypto industry. A new study by Social Capital Markets has revealed a staggering 1,386% increase in lobbying spend by crypto companies, rising from $2.72 million in 2017 to $40.42 million in 2023. This increase highlights a significant acceleration in lobbying efforts,
Coinbase, Ripple, and Andreessen Horowitz (a16z) have decided to send representatives to both the Republican National Convention (RNC) and the Democratic National Convention (DNC). Their goal is to advocate for policies that are beneficial to the crypto industry by presenting their case to key members of the GOP. This move by the three firms highlights