The Bahamas is taking steps to boost the adoption of its central bank digital currency (CBDC) known as the “Sand Dollar” by working with commercial banks. This move aims to increase the utilization of CBDC and mobile payments within the country. Governor of the Central Bank of The Bahamas, John Rolle, mentioned that the country
Regulation
VanEck’s Head of Digital Assets Research, Matthew Sigel, recently confirmed that the company’s Solana spot ETF proposal is betting on Donald Trump winning the US presidency. The proposal’s deadline is set for March 2025, well after the November US Presidential elections. Sigel’s confirmation of this speculation raises interesting questions about the company’s strategy and the
Silvergate Capital found itself in hot water as it settled with the SEC for a hefty $50 million. This settlement was accompanied by demands from Federal Reserve governors and California financial regulators for an additional $63 million in fines, totaling a significant sum. The SEC accused Silvergate Capital, along with its subsidiary Silvergate Bank and
Circle’s recent announcement of receiving an e-money license from France marks a significant milestone in the world of digital currencies. This achievement positions Circle as the first global stablecoin issuer to adhere to the EU’s Markets in Crypto-Assets (MiCA) regulations, signifying a step towards regulatory compliance in the cryptocurrency market. With the endorsement from France’s
Vitalik Buterin, the co-founder of Ethereum, has recently expressed his concerns about the state of cryptocurrency regulation, particularly in the United States. He highlighted a regulatory paradox where projects with vague promises and ambiguous potential returns operate freely, while projects that offer clear information and define investor rights are categorized as securities and subjected to
In today’s rapidly evolving digital finance landscape, the emergence of crypto assets has presented both unprecedented challenges and opportunities for regulators worldwide. The European Union, as the largest government body in the region, has introduced the Markets in Crypto-Assets regulation (MiCAR) to establish proactive frameworks for dealing with these new assets and services. However, the
Economist Timothy Peterson recently commented on the US Supreme Court’s decision to overturn the Chevron doctrine and its potential impact on the SEC’s regulation of cryptocurrencies. The Chevron doctrine, established in a 1984 case, determined when federal courts should defer to agency interpretations of laws. According to Peterson, this decision could significantly change the SEC’s
Keisha Lance Bottoms, who is set to become Joe Biden’s senior campaign adviser, recently spoke out about the bipartisan nature of the crypto industry. She stressed that crypto is not a political issue but rather a unifying force that has garnered support from both sides of the aisle. According to Bottoms, crypto has captured the
ESMA’s proposed regulations under the Markets in Crypto Assets Regulation (MiCA) have stirred up controversy within the crypto community. Paradigm, a prominent firm in the industry, has raised concerns over ESMA’s misinterpretation of Maximum Extractable Value (MEV) and the potential overreach of regulatory measures. The Role of MEV in DeFi Ecosystems MEV refers to the
Abra, a cryptocurrency firm, and its CEO Bill Barhydt have reached a settlement with 25 US state regulators for operating crypto trading services without the necessary licenses. The settlement involves the regulators agreeing to forgo monetary penalties of $250,000 per jurisdiction in exchange for $82 million in customer repayments. As part of the agreement, Abra