In a significant turn of events, the U.S. Securities and Exchange Commission (SEC) has made the decision not to appeal a recent court ruling that deemed it unjust to reject Grayscale Investments’ application to establish a spot bitcoin exchange-traded fund (ETF). The District of Columbia Court of Appeals in Washington had previously determined that the
Regulation
In a concerted effort to address the significant tax revenue loss resulting from the lack of cryptocurrency tax reporting, U.S. Senators Elizabeth Warren and Angus S. King, Jr. are urging the U.S. Department of the Treasury and the Internal Revenue Service (IRS) to expedite the implementation of recently proposed tax reporting rules for cryptocurrency brokers.
The Federal Open Market Committee (FOMC) reaffirmed its dedication to raising interest rates at its September meeting. This decision was made in response to a complex economic environment marked by elevated levels of inflation, slowing job growth, and solid GDP growth. While participants acknowledged the strength of the labor market and the overall resilience of
The Financial Conduct Authority (FCA) in the United Kingdom has taken action against Binance’s local partner, Rebuildingsociety.com, regarding the approval of financial promotion content from unauthorized individuals. The FCA has instructed Rebuildingsociety.com to revoke any prior approvals granted to unlicensed entities and to inform clients that it cannot endorse content from unauthorized individuals or entities.
Elon Musk finds himself in a challenging situation as he attempts to contest the U.S. Securities and Exchange Commission (SEC) in the acquisition of Twitter (now X). The SEC announced legal action on Oct. 5, aiming to compel Musk to comply with a subpoena and provide testimony. Musk received the subpoena in May but attempted
In a recent tweet, Elon Musk, the owner and CTO of X (formerly Twitter), expressed the pressing need for a comprehensive overhaul of the United States’ main securities regulator and other agencies. He emphasized the necessity of a commission that can take punitive action against individuals who have abused their regulatory power for personal and
The Bank for International Settlements (BIS) has partnered with central banks within the Eurosystem to launch Project Atlas. This proof of concept aims to delve into the economic implications of crypto assets and decentralized finance (DeFi). The project is a collaborative effort between the BIS Innovation Hub Eurosystem Centre, De Nederlandsche Bank, and the Deutsche
Kenya’s Ad hoc committee investigating the Worldcoin matter has raised serious concerns about the company’s actions, which are alleged to have constituted acts of espionage and a threat to statehood, according to local media reports. The committee, led by Narok West MP Gabriel Tongoyo, has called for further investigation into two associated foreign companies, Tools
It is no secret that blockchain technology has revolutionized various industries, including finance and payments. However, recent allegations against the co-founders of the now-defunct Terra blockchain project have cast a shadow over the industry. In a filing dated September 22, it was revealed that the co-founders allegedly planned to create fraudulent transactions during the development
Crypto exchange Coinbase recently announced that its international exchange has received regulatory approval from the Bermuda Monetary Authority (BMA) to offer perpetual futures to non-U.S. retail customers. This development allows Coinbase to expand its services to a larger customer base outside the United States. Users can verify their eligibility for this offering on the platform,