Regulation

Following the withdrawal of former Federal Reserve Board governor Sarah Bloom Raskin, United States President Joe Biden has announced his intention to nominate former Obama administration official and law professor Michael Barr as the central bank’s vice chair for supervision. In a Friday announcement, the White House said Barr was Biden’s pick to supervise the

The feeling in the crypto and decentralized finance space has been shifting and evolving. The industry is also becoming more scrutinized and, inevitably, more organized. Some weeks ago, United States President Joe Biden signed an Executive Order to expedite and focus regulatory oversight of the $3-trillion industry.  The order will spur the government to examine

On Friday, Tornado Cash announced that it was using oracle contracts from Chainalysis to block wallet addresses sanctioned by the U.S. Office of Foreign Assets Control, or OFAC. The move comes after the U.S. Department of the Treasury linked North Korean cybercriminal Lazarus Group as an alleged perpetrator for the recent $600 million+ Ronin Bridge

Paolo Ardoino, the chief technology officer of Tether and Bitfinex, is confident that Tether will preserve its status as the most used stablecoin, despite the rapid growth of competitors such as USD Coin (USDC).  “If you see the volumes of Tether compared to the rest of stablecoins, they are insanely higher. They are even 10

Major global cryptocurrency exchange Bitstamp continues increasing compliance efforts by requesting its users to provide more data like their source of wealth. In an email notification to users on Wednesday, Bitstamp informed its customers about the ongoing policy upgrades on the platform, with the exchange seeking additional info about its clients, one Bitstamp user told

Nonprofit blockchain advocacy group Coin Center has called the Securities and Exchange Commission’s (SEC) proposed redefinition of an “exchange” an “unconstitutional overreach.” The lobby group made the comments in a written response to the SEC’s March 18 Amendments Regarding the Definition of “Exchange”, which details changing the meaning of “exchange” from a “system that brings

During Paris Blockchain Week, Changpeng Zhao, CEO of Binance, the largest centralized cryptocurrency exchange in the world, sat down with Cointelegraph reporter Joe Hall for an exclusive interview. When asked about what excites him the most in crypto in 2022, Zhao said “We’re now seeing regulators who want to be a part of this industry.

A virtual, Cyprus-registered casino Sand Vegas Casino Club faced an emergency cease and desist order from Texas and Alabama state securities regulators. The company is ordered to “stop a fraudulent investment scheme tied to metaverses”.  On April 13, the Texas State Securities Board reported issuing the order, accusing Sand Vegas Casino Club, Martin Schwarzberger and

The Bank of Japan (BoJ) has said that its Central Bank Digital Currency (CBDC), the digital yen, will not be used to help attain negative interest rates.  The BoJ’s Executive Director, Shinichi Uchida made the announcement in his most recent public speech. “While the idea of using such a functionality as a means to achieve

Bertrand Perez, chief operations officer of the Web3 Foundation, one of the firms behind the Polkadot blockchain, said a certain level of regulation was necessary in the crypto space as long as those responsible left room for innovation. Speaking to Cointelegraph at the Paris Blockchain Week on Wednesday, Perez said he saw a few areas

Virgil Griffith, a former Ethereum (ETH) developer has been sentenced to 63 months in prison and will pay a fine of $100,000 for attending a conference and assisting North Korea use blockchain technology in contravention of economic sanctions imposed by the United States. On Tuesday, April 12, U.S. District Judge Kevin Castel of the Southern

Cryptocurrency mixers have been an interesting topic of discussion ever since the advent of cryptocurrencies and their adoption by retail investors around the world.  Cryptocurrency mixers are services that essentially focus on one feature of a blockchain network: privacy.  Cryptocurrency mixers, also known as tumblers, provide anonymity so no one can trace the sender or

The Bank for International Settlements, or BIS, released a paper Tuesday on central bank digital currencies, or CBDCs, and how they can be used to meet policy goals for financial inclusion. The paper drew on interviews conducted in the second half of last year at nine central banks that are currently exploring retail CBDCs. It

Fresh data on Indian crypto exchanges’ trading volume reveals a significant decline in trading practices among Indians just ten days after the tax rule implementation. India’s new 30% crypto tax rule came into effect on April 1, despite many stakeholders and exchange operators warning against its ill effects.  A research data report shared by Indian

Last week, there was a lot of regulatory talk about crypto-related risks. While this is very common in itself, some angles and proposed solutions to such risks came across as novel. In the United States, the Federal Deposit Insurance Corporation (FDIC) issued a letter to commercial and savings banks under its purview, or all federally

While the United States Securities and Exchange Commission (SEC) has yet to approve a spot Bitcoin exchange-traded fund, a recent Nasdaq survey suggested that the offering could lead to greater adoption of crypto among financial advisers. According to the results of a Nasdaq survey released on Monday, 72% of 500 financial advisers would be more