Throughout history, currencies have played a vital role in organizing and advancing societies. From bartering systems to standardized coins and paper money, the evolution of currency has defined the human experience. However, recent decades have witnessed a shift in the financial landscape, with many areas of the world facing financial chaos. The transition to fiat
Regulation
Asset tokenization, including the tokenization of securities, has been recognized by SEC commissioner Mark Uyeda as having significant potential benefits. One key advantage of representing asset rights with a digital token on a blockchain is the increased security, transparency, and immutability it offers. By utilizing tokenization, the need for intermediaries can be eliminated, leading to
The European Banking Authority (EBA) has recently introduced a set of comprehensive guidelines aimed at addressing recovery plans for issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs) within the context of the broader Markets in Crypto-Assets (MiCA) regulation. These recovery plans are crucial for maintaining compliance with regulatory standards in the event that issuers
The Commodity Futures Trading Commission (CFTC) chair, Rostin Behnam, recently expressed confidence in the agency’s ability to take on more responsibilities in the crypto space. He firmly stated that the CFTC could effectively regulate crypto commodities without “biting off more than it can chew.” Behnam highlighted the existing gap in regulation concerning crypto assets and
Coinbase recently voiced its objections to the Securities and Exchange Commission (SEC)’s $2.6 billion budget request for the 2025 fiscal year. A representative from Coinbase criticized the allocation of funds towards enforcement, stating that it fails to prioritize real crypto rulemaking which would provide much-needed regulatory clarity. The SEC’s budget request includes a significant increase
After the $4.5 billion SEC settlement, Terraform Labs CEO Chris Amani announced that Terra will transition into a community-driven project. Amani emphasized the need for the community to take over ownership of the chain as the company prepares to wind down its operations. He highlighted the intention for certain teams and developers to step in
The Zimbabwean government has taken a proactive step towards regulating the virtual asset industry by initiating a study to develop comprehensive regulations. This move was reported by the Zimbabwe Mail on June 12, indicating that a committee has been established to gather data from crypto companies operating within the country. The primary goal of this
The recent report released by the EU Innovation Hub for Internal Security sheds light on the challenges faced by law enforcement agencies in tracking and recovering illicit digital assets moved through decentralized methods such as privacy coins, layer-2 networks, and crypto mixers. This report, a collaboration between Europol, Eurojust, and other EU agencies, emphasizes the
Tokenization is a concept that has been gaining traction in the financial industry in recent years. Nadine Chakar, the global head and managing director of DTCC Digital Assets, emphasized the benefits of tokenization in her testimony before the House Financial Services Subcommittee on Digital Assets. According to Chakar, tokenization represents a natural evolution in simplifying
SEC Chair Gary Gensler recently discussed the timeline for spot Ethereum ETF launches, suggesting that it will depend on how quickly applicants respond to the regulator’s questions and comments on reasons for approvals. He emphasized that firms are “self-motivated” to address SEC comments and can determine their responsiveness. Gensler mentioned that Grayscale’s legal win, which