Stablecoins, digital assets designed to maintain a stable value, facilitated $15.6 trillion in transactions last year, marking a substantial increase in their use. With the continued expansion of the stablecoin market, Congress is clearly motivated to provide some regulatory clarity sooner than later. Senate Banking Committee has moved important legislation...
OpenSea’s recent request for relief from the SEC isn’t limited to OpenSea. This is a critical inflection point not just for the crypto space as a whole but an opportunity to set the stage for digital ownership’s promising future. Forget all that doom and gloom you may be seeing all...
The SEC’s shadow indeed looms large over the NFT space, and to be honest with you, it’s a good thing! We need investor protection. Nobody wants another crypto-style ICO boom, where projects disappeared overnight with investors’ cash. Rug pulls, wash trading to inflate prices artificially. A lack of transparency in...
On April 10, US President Donald Trump signed a joint congressional resolution. This new law would largely accomplish the goal of reversing the IRS’s wildly unpopular DeFi broker rule. This move, if made permanent, would commensurately prevent the Treasury Department from implementing expansive reporting requirements for DeFi platforms and services....
New York Attorney General Letitia James has taken a leading role in calling on Congress to enact federal legislation. She has long advocated for a robust regulatory framework for the nascent cryptocurrency industry. In a letter sent to congressional leaders on April 10, James called for new, uniform standards for...
OpenSea has formally addressed the Crypto Task Force of the U.S. Securities and Exchange Commission (SEC), urging the regulatory body to provide clearer guidelines on Non-Fungible Tokens (NFTs). The appeal comes as OpenSea seeks to resolve ambiguity surrounding the classification and regulation of NFT marketplaces in the United States. This...
U.S. lawmakers are intensifying their efforts to establish clear regulations for the burgeoning crypto industry, currently valued at $2.7 trillion. On April 9, the House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence convened a timely hearing. This challenge marks the start of a new wave...
A recent hearing on Capitol Hill focused on the regulatory structure of crypto and digital asset oversight amidst volatile trading in the crypto market. The discussion highlighted the need for regulatory clarity and potential legislative solutions to address the unique challenges posed by digital assets.The hearing discussed the regulation of...
Pakistan is facing an acute debt crisis, inflation is eating away at purchasing power, and hope seems years away for almost everyone. And then there’s crypto – the dazzling hope of a new digital El Dorado. It sounds like a classic David vs. Goliath scenario. One aspiring economic power is...
Earlier this summer, the U.S. Justice Department announced their intent to dismantle the National Cryptocurrency Enforcement Team (NCET). This decision is a clear departure from the previous approach toward regulating digital assets. In particular, this move signals a major recalibration of priorities within the DOJ. This is notable especially because...
