In his most recent testimony before the House Appropriations Committee, Gary Gensler, Chairman of the US SEC, said that the United States had a perfectly suited law for the cryptocurrency business. According to a report (1), Gensler asserted that the existing Securities law already applies to crypto businesses and that there is no requirement for … Read more
The Chief Executive Officer of Binance, Changpeng ‘CZ’ Zhao, has responded to the complaint lodged against the exchange by the Commodities Futures Trading Commission (CFTC). CZ brought up many points in response to the federal agency’s request for a US injunction against Binance, and these issues are alleged in the lawsuit. CZ further stated that … Read more
Ron DeSantis, the governor of Florida, is proposing a law that would make it illegal to use central bank-issued digital currencies (also known as CBDCs) anywhere within the state. The governor was quoted as saying in a press release that the parliamentary proposal is being considered in order to protect businesses and inhabitants of the … Read more
The relationship between the Commodity Futures Trading Commission (CFTC) and industry professionals appears to be in stark contradiction with other US authorities, such as the SEC, which has portrayed itself in a manner that is quite unfriendly toward cryptocurrencies. In a recent announcement, the Commodities Futures Trading Commission (CFTC) named Carole House, an ex-official in … Read more
The collapse of Silvergate Bank & Silicon Valley Bank just seven days after one another has caused shockwaves to spread throughout the cryptocurrency industry. Regulators and legislators in the United States have been concerned because the turbulence has spread into the conventional finance sector. This is a really unfortunate development. Elizabeth Warren Criticized the … Read more
Coinbase, the major crypto exchange in the US, has introduced (1) an innovative feature that it believes will bring millions of users to web3. Businesses will be able to create cutting-edge web3 experiences with streamlined wallet onboarding made possible by releasing a new product called “Wallet as a Service” (WaaS). Because of the development of … Read more
Altering the Tax Classification of Transactions Involving Cryptocurrencies Is Going to Be a Proposal in President Biden’s Budget Plan, Which Would Raise $24 Billion Reports indicate (1) that the new budget plan proposed by US Vice President Joe Biden could end the practice of tax loss harvesting on cryptocurrency transactions. A spokesperson from the White … Read more
While the Judge in the lawsuit between Ripple Labs and the SEC continues to wait for a ruling from the US Southern District Court of New York, the XRP community has started circulating rumors that the Judge in charge, Analisa Torres, is a member of the “deep state.” Because of this, proponents of the theory anticipate … Read more
US Judge Michael Wiles has questioned the actions of the SEC in Crypto lender Voyager Digital and a crypto exchange Binance proposed business partnership. Voyager announced in December 2022 that it had chosen Binance.US as the company that had submitted the best and highest bid for its assets. The transaction is estimated to be worth … Read more
Block Inc., the American global payments company, has recently announced (1) the foundation of a new subsidiary that will be known as C=. This move was made in an effort to drive the general usage of the Lightning Network. Despite the fact that it was not the original creator of the Lightning Network, Block has … Read more