Regulation

The United States House Committee on Financial Services a.k.a the Financial Services Committee will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether or not the ecosystem needs supporting legislation. The Financial Services Committee issued a memorandum to announce an upcoming hearing titled “Understanding Stablecoins’ Role in

The law firm representing victims affected by the FTX collapse have publicly appealed to NBA superstar Shaquille O’Neal to show “courtesy and honor” by actually accepting their legal complaint after several unsuccessful attempts. In an April 14 tweet, The Moskowitz Law Firm revealed its team have been standing outside O’Neal’s TNT studios in Atlanta “all

Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started, believes ShapeShift CEO Erik Voorhees.  According to the entrepreneur, U.S. authorities still don’t see crypto as an existential threat to the fiat system, and their recent crackdown

South Korean prosecutors confirmed that Terraform Labs CEO Do Kwon sent 9 billion won ($7 billion) to Kim & Chang — a top South Korean law firm — right before the spectacular collapse of the Terra ecosystem.  Kwon’s decision to send millions to the law firm was flagged by prosecutors as a deliberate move, which allegedly

The United States Attorney’s Office for the Southern District of New York has announced the sentencing for an individual who pleaded guilty to wire fraud charges connected to “unlawfully obtained” Bitcoin from the Silk Road marketplace in 2012. In an April 14 announcement, the U.S. Justice Department said James Zhong was sentenced to one year

Rostin Behnam, Chairman of the Commodity Futures Trading Commission (CFTC), recently spoke out about the allegations levied against Binance, claiming that the beleaguered cryptocurrency exchange’s leadership knowingly operated outside of U.S. laws governing the exchange of commodities and futures.  Speaking at a fireside chat that took place at the DeCenter Spring Conference at Princeton University

Advocacy organizations and safety groups have urged Mark Zuckerberg’s social media giant Meta to halt plans to allow minors into the metaverse. Online safety groups and experts sent a letter to the Meta CEO on April 14, calling out the firm to scrap its plans to invite teenagers and young adults to join its metaverse

Our weekly roundup of news from East Asia curates the industry’s most important developments. Bitcoin’s day of glory on Chinese TikTok On Apr. 10, Douyin, the version of Tiktok exclusive to Chinese users, began publishing price quotes related to Bitcoin (BTC) and other cryptocurrencies such as Ethereum (ETH), Dogecoin (DOGE), and Ripple (XRP). The move

A federal magistrate judge has signed an order requiring BitBoy Crypto YouTuber Ben Armstrong to appear in Florida as part of a status conference related to a lawsuit involving several crypto influencers. In an April 12 filing in the United States District Court for the Southern District of Florida, Judge Melissa Damian ordered Armstrong and

The bill, seeking to enshrine crypto miners’ rights in Montana, United States, successfully passed the third reading in the state’s House of Representatives. Now, the only thing that is required for it to become law is the Governor’s signature.  Bill number 178, prohibiting local authorities from obstructing the crypto mining operations, was voted in during

Texas lawmakers in the state’s Senate have approved a bill aimed at largely removing incentives for crypto miners operating under the seemingly friendly regulatory environment. In a 30-1 vote on the floor of the Texas State Senate on April 12, lawmakers in the 88th legislative session passed Senate Bill 1751, legislation that would amend sections

According to bankruptcy cryptocurrency exchange FTX, a court in Switzerland has approved a petition allowing the firm to potentially sell its European business. In an April 12 announcement, FTX said a Swiss court granted a petition filed by the board of directors for FTX Europe AG regarding a moratorium proceeding. As part of the legal

The State Tax Administration Agency of the Government of Spain (AEAT) increases its efforts to charge the local holders of crypto assets. The AEAT intends to dispatch 328,000 warning notices to those who should pay their taxes on crypto for the 2022 fiscal year.  As the local newspaper El Mundo reported on Apr. 11, the

Executives at the stablecoin issuer Circle and the bankrupt cryptocurrency lender BlockFi have been questioned by two members of Congress investigating the so-called “mutual backscratching arrangements” alleged to have taken place with the now-failed Silicon Valley Bank (SVB). On April 9, letters from Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez (AOC) were sent to Circle,

The share of global crypto developers based in the United States declined by 26% from 2018 to 2022, according to a report from venture capital firm Andreessen Horowitz, also known as a16z. The report, titled “State of Crypto 2023,” cited data from Electric Capital and SimilarWeb to support its findings. Today, we’re excited to share

Presidential hopefuls Robert F. Kennedy Jr. (RFK Jr.) and Ron DeSantis are rallying against the Federal Reserve’s FedNow payments system claiming it would pave the way for a Central Bank Digital Currency (CBDC). In an April 11 Twitter thread, Democrat RFK Jr. — the nephew of former president John F. Kennedy Jr. — once again