A recent proposal by South Korean lawmakers suggests delaying the implementation of crypto gain tax until 2028. The ruling political party put forward this bill on July 12, pointing to the prevailing negative sentiments surrounding the crypto industry as the primary rationale behind the extension. The lawmakers emphasized that the current investment sentiment towards virtual
Regulation
CTO and chairman Elon Musk recently made headlines by accusing the European Commission (EC) of offering an “illegal secret deal” to social media platform X. Musk claimed that this deal involved the censorship of speech in exchange for avoiding fines in the EU. These allegations were made in response to the EC publishing preliminary findings
The recent closure of the SEC investigation into Hiro and the Stacks blockchain without recommending any enforcement action has significant implications for the future of the Bitcoin Layer-2 network. The investigation, which started over three years ago, has been closely followed by the crypto community. This investigation stemmed from the SEC-qualified offering by Stacks in
Recently, the Securities and Exchange Commission (SEC) concluded its investigation into Hiro Systems and the Stacks blockchain without recommending any enforcement action. This investigation, which spanned over three years, has been a crucial chapter in the history of the Bitcoin Layer-2 network. The SEC probe started following the first-ever SEC-qualified offering by Stacks in 2019.
The UK Law Commission recently released a scoping paper discussing the potential legal classification of Decentralized Autonomous Organizations (DAOs) within the country. DAOs, which are blockchain-based communities formed around a common purpose, have been hailed as the future of corporate governance. However, the Commission emphasized the difficulties in defining and categorizing DAOs due to the
The US Securities and Exchange Commission (SEC) has made headlines recently with its decision to accept a proposal that provides exceptions for certain institutions affected by the controversial Staff Accounting Bulletin No. 121 (SAB 121). This move has significant implications for financial institutions and crypto holders alike as it alters the way crypto holdings are
The recent attempt by the US House of Representatives to overturn President Joe Biden’s veto and rescind SEC Staff Accounting Bulletin (SAB) 121 has ended in a failure. The numbers were close, with 228 House members voting in favor of HJ Res. 109 to end SAB 121, 184 against, and 21 abstaining. Although this represents
Recently, the US Securities and Exchange Commission (SEC) concluded its investigation into stablecoin issuer Paxos. Paxos announced on July 11 that it received a termination notice from the SEC on July 9. The notice confirmed that the regulator would not take any enforcement action against Paxos Trust Company regarding the Binance USD (BUSD) stablecoin. Over
In a recent Senate Agriculture Committee hearing, CFTC chair Rostin Behnam expressed the agency’s willingness to take on the role of primary regulator for crypto assets. This statement signifies a potential shift in the regulatory landscape for digital commodities, as Behnam indicated that the CFTC has the necessary expertise and capacity to oversee this emerging
The Chief Compliance Officer of Bitwise, Katherine Dowling, recently expressed optimism regarding the approval of spot Ethereum ETFs. According to Dowling, discussions with the SEC have been promising, with the regulatory body showing a welcoming attitude towards such products. She highlighted that the SEC and ETF issuers have been making progress by addressing fewer issues