News
Kristin Johnson, the CFTC's last remaining Democratic commissioner, confirmed she will leave the regulator on Sept. 3.
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Government News
Led by people in various positions of power, governments create and enforce different laws and guidelines. Governments worldwide vary significantly in approach, procedures, laws, etc. With the advent of the internet and social media, government news is now readily accessible to the public online.
Government cryptocurrency overwatch has increased in the years since Bitcoin’s launch in 2009. The European Union has taken a ground-breaking step by enacting regulations requiring crypto service providers to spot and suppress illegal cryptocurrency activity. Similarly, the Canadian government has established itself as a proactive regulator by authorizing the nation’s first Bitcoin exchange-traded fund (ETF).
In contrast to Singapore’s policy of not taxing long-term capital gains, Japan has taken a progressive stance by recognizing cryptocurrencies as legal property under the Payment Services Act. However, China is a leader in developing its government-backed digital currency, the digital yuan (e-CNY), with numerous pilot projects underway. China has outlawed cryptocurrency exchanges, citing unlawful public financing.
Additionally, government news also throws some light on major economies like the EU, the United Kingdom and the United States that are actively developing and exploring their own central bank digital currency (CBDC) initiatives, while nations like the Bahamas and Nigeria have already implemented CBDCs.
- News
UAE’s holdings were previously speculated to be as much as 420,000 Bitcoin from sources such as criminal seizures. The new figures are far less impressive.
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Japan’s Finance Minister Katsunobu Kato said crypto deserves a spot in portfolios, while pledging to build a sound trading environment for the sector.
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The financial regulator said the bank’s “compliance with laws and regulations does not require the continued existence of the order,” first issued in April 2022.
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Wyoming announced the mainnet launch of the Frontier Stable Token stablecoin, becoming one of the first US states to issue a stablecoin.
8281 - Explained
Bitcoin may be decentralized, but its price isn’t immune to the influence of whales, protocol upgrades, ETF approvals and global regulations.
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The comments, due by Oct. 17, will focus on “innovative methods to detect illicit activity involving digital assets,” as required by the GENIUS Act.
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The Federal Reserve said it would sunset a program specifically to monitor banks’ digital asset activities and would integrate them back into its “standard supervisory process.”
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Czech police have reportedly arrested darknet founder Tomas Jirikovsky in a $45 million Bitcoin bribery case tied to former Justice Minister Pavel Blazek’s resignation.
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US Treasury Secretary Scott Bessent clarified that the department was exploring budget-neutral ways to buy Bitcoin, contradicting an earlier comment that tanked the market.
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Military Bank, a Vietnamese state-controlled lender, has partnered with the parent company of South Korea’s Upbit exchange, Dunamu, to develop a cryptocurrency exchange.
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Coinbase legal chief Paul Grewal met with Karnataka IT Minister Priyank Kharge to explore collaboration on developer tools, cybersecurity and blockchain in governance.
3635 - Market Analysis
Increased demand for downside protection reflects macro risks, not an imminent Bitcoin price collapse, which could help BTC avoid a trip down to $110,000.
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Carving out clear jurisdictions for the SEC and CFTC may ease investor concerns over ambiguous securities laws.
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The Philippine government launched a blockchain-based document validation system on Polygon, despite the network suffering a partial outage on the same day.
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