Noncompliant stablecoin issuers could potentially exit the EU market entirely, with a shift toward euro-backed stablecoins as demand picks up in European markets.
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EU MiCA stablecoin regulations come into effect: Law Decoded - Newsletter
SEC drops investigation into Ethereum: Law Decoded A letter from Consensys states that the SEC’s approval of spot Ether exchange-traded funds indicated that it had “updated its position to classify ETH as a commodity and not a security,” but not everyone agrees.
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Terraform Labs to shut down after $4.5B SEC settlement: Law Decoded Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.
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Trump promises to become the ‘crypto president’ — Law Decoded The former United States president is intensifying his cryptocurrency advocacy as part of his 2024 presidential campaign.
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Biden vetoes House and Senate votes on SEC’s anti-crypto resolution: Law Decoded United States President Joe Biden has vetoed a resolution that would have overruled the U.S. Securities and Exchange Commission Staff Accounting Bulletin No. 121.
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Spot Ether ETFs are now officially legal in the US: Law Decoded Spot Ether ETFs might be weeks or months away from debuting on exchanges, as the ETF filers have yet to receive their S-1 SEC registration.
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US Senate overturns SEC’s anti-crypto resolution, but will Biden veto? Law Decoded The U.S. president remains the last barrier to recalling the problematic anti-crypto resolution by the SEC.
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House overturns SEC’s anti-crypto guidance, Biden to veto: Law Decoded U.S. President Joe Biden may block the U.S. House of Representatives’ decision.
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Four months in prison for CZ, another US state kicks out Binance.US: Law Decoded While Changpeng “CZ” Zhao received a surprisingly moderate jail term, Oregon has become the sixth state to revoke, suspend or decline to renew Binance.US’ license.
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Binance sued in Canada, CZ could serve 36 months in prison: Law Decoded Cryptocurrency exchange Binance is under legal pressure in Canada and the Philippines, while U.S. prosecutors are demanding 36 months in prison for Changpeng Zhao.
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Lummis-Gillibrand bill will ban algorithmic stablecoins: Law Decoded Advocacy group Coin Center has expressed concerns about the Lummis-Gillibrand bill, claiming it would be “bad policy” and potentially unconstitutional.
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Hong Kong green lights first spot Bitcoin ETFs: Law Decoded The new ETFs are reportedly from Harvest Global Investments, China Asset Management and a partnership between HashKey and Bosera Asset Management.
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Hester Peirce blasts SEC, Gurbir Grewal rejects SEC criticism: Law Decoded Gurbir Grewal, the director of the Division of Enforcement at the SEC, has pushed back against criticism that the regulator is making up rules on crypto as it goes along.
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FTX saga ends as Sam Bankman-Fried gets 25 years in prison: Law Decoded SBF became the first person tied to FTX and Alameda Research to face prison time following the collapse of the exchange in November 2022.
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IMF recommends stablecoins and CBDCs to boost Pacific Islands’ economies While CBDCs might be the best option for those nations with existent currencies and mature banks, private stablecoins might help less advanced economies.
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SEC sanctioned for ‘abuse of power,’ probes Ethereum: Law Decoded The U.S. Securities and Exchange Commission wants an extra $158 million to address the “Wild West of the crypto markets.”
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1inch integrates Lumia to provide more liquidity, better pricing The extension of liquidity should provide decentralized finance users with pricing that “matches or even surpasses” that of centralized platforms.
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AI Act and stablecoin regulations in the EU, 30% crypto mining tax in the US: Law Decoded The European Parliament granted final approval to the European Union’s artificial intelligence law, one of the world’s first set of comprehensive AI regulations.
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Spanish court denies Worldcoin’s injunction request against regulator Sam Altman’s company will have to freeze its operations in Spain for the next three months.
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Binance.US suffers ‘near-mortal blow’ after SEC and class-action lawsuits: Law Decoded The world’s largest crypto exchange continues to grapple with ongoing legal challenges, particularly in the United States.
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US lawmakers fight CBDC, advocate crypto custody for banks: Law Decoded Five United States senators have joined hands to fight President Joe Biden’s plans to issue a “digital dollar.”
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OKX announces launch of Turkish platform The platform will host major cryptocurrency pairings with the Turkish lira, such as USDT, BTC and ETH, along with “sophisticated crypto functionalities.”
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Spanish financial regulator warns investors over 18 unlicensed entities The list contains several crypto firms among companies trading without the correct licenses.
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Do Kwon to be extradited to the US, CZ’s passports seized: Law Decoded The Terraform Labs co-founder, who has been in Montenegro since his arrest in March 2023, will reportedly be extradited to the United States to face fraud charges.
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Pyth Network launches real-time market data on Hedera More than 400 Pyth price feeds will be launched on the open-source, proof-of-stake public ledger Hedera.
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Crypto exchange BitForex halts withdrawals, stops responding to users A Hong Kong-based crypto exchange has suspended withdrawals for at least three days without warning.
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EU crypto AML authority to establish HQ in Frankfurt The Anti-Money Laundering Authority will start its work by mid-2025.
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ECB not convinced by ETF approval in the US, still dislikes Bitcoin The ECB executives agree that the expectation of spot ETF approvals drove the price of Bitcoin, but they believe it could turn out to be “a flash in the pan.”
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South Korean province implements digital system to track tax evaders’ crypto The Gyeonggi tax department used the resident registration data of “delinquents,” tracing their mobile phone numbers to detect their accounts on crypto exchanges.
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Japan regulator clarifies stance on P2P crypto transfers The FSA says its recommendations don’t envisage “any transactions from one individual to another.”