Congress Archives - Cryptocurrency Market

Lawmakers Question SEC Over Disruptive Crypto Custody Rules

Leave a Comment / Bitcoin, bulletin, Collaboration, Congress, Crypto, Crypto Hacked, Cryptocurrency, custody, Digital Assets, Ethereum, FDIC, Federal Reserve, Innovation, interagency, OCC, patrick mchenry, Regulation, SEC / admin / September 24, 2024 / bulletin, Collaboration, Congress, Crypto, Cryptocurrency, custody, Digital Assets, FDIC, Federal Reserve, Innovation, interagency, OCC, patrick mchenry, Regulation, SEC

Congressional leaders are pressing regulators over concerns that the U.S. Securities and Exchange Commission (SEC)’s new guidelines on digital asset custody could disrupt financial innovation and regulatory collaboration. Lawmakers question whether the SEC acted prematurely, potentially jeopardizing efforts to safeguard digital assets through coordinated agency work. They demand more transparency on the SEC’s actions and […]

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Hong Kong Judge Rules Crypto Assets as ‘Property,’ Following Similar Rulings Worldwide

Leave a Comment / beijing, Bitcoin, chinese law, classification, commodities, common law jurisdictions, company's digital assets, Congress, crypto assets, Crypto Hacked, Cryptocurrency, debate, Ethereum, Gatecoin, Hogan Lovells, Hong Kong, insolvency practitioners, intermediate court, Judge Chan, Law, legal protection, liquidators, Nations, nature, News, property, Property Rights, Protection, Regulatory Agencies, Research, ruling, scope, Securities, Supreme Court, treatment, trust, United States, Virtual Currencies, Virtual Property, winding-up scenario, worldwide / admin / April 19, 2023 / beijing, chinese law, classification, commodities, common law jurisdictions, company's digital assets, Congress, crypto assets, debate, Gatecoin, Hogan Lovells, Hong Kong, insolvency practitioners, intermediate court, Judge Chan, Law, legal protection, liquidators, Nations, nature, News, property, Property Rights, Protection, Regulatory Agencies, Research, ruling, scope, Securities, Supreme Court, treatment, trust, United States, Virtual Currencies, Virtual Property, winding-up scenario, worldwide

In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency practitioners and other common law jurisdictions. Hong Kong Judge Designates Crypto

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Treasury Secretary Yellen Holds Unscheduled Meeting With Top Financial Regulators Amid Turmoil in Banking Sector

Leave a Comment / Banking, benchmark, Bitcoin, Bloomberg, collapse, Congress, Crypto Hacked, Cryptocurrency, deposit insurance, depositors, Ethereum, Exception, FDIC, federal government, Federal Reserve, financial stability, First Republic, indexes, institutions, intervention, Janet Yellen, Measures, meeting, News, Oversight Council, Pacwest Bancorp, Protect, Regulators, Regulatory Agencies, Signature Bank, Silicon Valley Bank, stocks, systemic risk, Truist, turmoil, Western Alliance Bancorp / admin / March 24, 2023 / Banking, benchmark, Bloomberg, collapse, Congress, deposit insurance, depositors, Exception, FDIC, federal government, Federal Reserve, financial stability, First Republic, indexes, institutions, intervention, Janet Yellen, Measures, meeting, News, Oversight Council, Pacwest Bancorp, Protect, Regulators, Regulatory Agencies, Signature Bank, Silicon Valley Bank, stocks, systemic risk, Truist, turmoil, Western Alliance Bancorp

U.S. Treasury secretary Janet Yellen initiated an unscheduled Financial Stability Oversight Council (FSOC) meeting with the country’s top financial regulators on Friday amid issues plaguing the U.S. banking sector. Banking stocks and all four U.S. benchmark indexes fell again on Friday as the government’s efforts last week failed to quell the country’s financial calamity. Janet

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Custodia CEO Slams US Government Over Broad Crackdown, Lack of Regulatory Clarity in Crypto Industry

Leave a Comment / Bitcoin, Blog Post, Brian Armstrong, Broad Crackdowns, Caitlin Long, ceo, CFTC, Coinbase, collapse, Congress, Crackdown, Crypto Hacked, crypto industry, Cryptocurrency, Custodia, do kwon, enforcement actions, Ethereum, Fraud, ftx, FTX collapse, Jesse Powell, Kraken, misconduct, offshore, overregulation, policymakers, red flags, Regulation, regulatory clarity, Sam Bankman-Fried, sbf, SEC, securities regulator, spaghetti, terraform labs, Twitter, US government, White house / admin / February 18, 2023 / Blog Post, Brian Armstrong, Broad Crackdowns, Caitlin Long, ceo, CFTC, Coinbase, collapse, Congress, Crackdown, crypto industry, Cryptocurrency, Custodia, do kwon, enforcement actions, Fraud, ftx, FTX collapse, Jesse Powell, Kraken, misconduct, offshore, overregulation, policymakers, red flags, Regulation, regulatory clarity, Sam Bankman-Fried, sbf, SEC, securities regulator, spaghetti, terraform labs, Twitter, US government, White house

Caitlin Long, CEO of crypto bank Custodia, criticized the U.S. government for its handling of a massive crypto fraud that occurred months before the company’s collapse. She made her remarks in a blog post after disclosing evidence to law enforcement. Long’s post followed Custodia’s unsuccessful application to become a member of the Federal Reserve System,

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Brazilian Government Preparing New Decree to Clarify Cryptocurrency Rules

Leave a Comment / asset segregation, Bitcoin, Brazil, brazilian government, Congress, Crypto Hacked, Cryptocurrency, cryptocurrency law, Decree, Ethereum, expedito netto, Gabriel Galípolo, luis inacio lula da sila, luis inacio lula da silva, Marcos Pinto, Regulation / admin / February 18, 2023 / asset segregation, Brazil, brazilian government, Congress, cryptocurrency law, Decree, expedito netto, Gabriel Galípolo, luis inacio lula da sila, luis inacio lula da silva, Marcos Pinto, Regulation

The Brazilian government is preparing to release a decree to fill the blank spaces that the recent approval of the cryptocurrency law has left open. The document, prepared by the Ministry of Finance, will establish the areas of oversight and responsibilities for the Central Bank of Brazil and the national securities regulator (CVM). Brazilian Government

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Report: Paypal Puts Stablecoin Plans on Hold as US Regulators Crack Down on Crypto Industry

Leave a Comment / Bitcoin, BitLicense, Congress, Crypto Hacked, crypto industry, Crypto lender, crypto services, Cryptocurrency, Decision, earn product, Ethereum, Financial Technology, Investigation, Kraken, New York State Department of Financial Services (NYDFS), News, Nexo, offshore services, online payment system, pause, pause stablecoin, pausing plans, Paxos, Paxos stablecoins, Payments Giant, Paypal, PayPal stablecoin, PayPal stablecoin idea, Plans, regulatory guidance, regulatory scrutiny, relevant regulators, retail investors, Spokesperson, Stablecoin, Stablecoin issuer, staking service program, state regulators, U.S. retail customers, U.S. Securities and Exchange Commission (SEC), US Regulators / admin / February 11, 2023 / BitLicense, Congress, crypto industry, Crypto lender, crypto services, Decision, earn product, Financial Technology, Investigation, Kraken, New York State Department of Financial Services (NYDFS), News, Nexo, offshore services, online payment system, pause, pause stablecoin, pausing plans, Paxos, Paxos stablecoins, Payments Giant, Paypal, PayPal stablecoin, PayPal stablecoin idea, Plans, regulatory guidance, regulatory scrutiny, relevant regulators, retail investors, Spokesperson, Stablecoin, Stablecoin issuer, staking service program, state regulators, U.S. retail customers, U.S. Securities and Exchange Commission (SEC), US Regulators

During the first week of 2023, payment service giant Paypal said it was exploring the launch of a stablecoin. At the time, an executive at Paypal stated that if the company moved forward, it would work closely with financial regulators. However, on Feb. 10, a source noted that Paypal has put the concept on hold

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FTX Bankruptcy: Judge Delays Decision on Appointing Independent Examiner Amid Cost Concerns

Leave a Comment / attorney, Bankruptcy, Bitcoin, ceo, Congress, cost, Court, creditors, criminal investigators, Crypto Hacked, Cryptocurrency, cybersecurity firm, cynthia lummis, debtors, Decision, DOJ, duplicated effort, Elizabeth Warren, Ethereum, expenses, experts, ftx, FTX Bankruptcy, FTX collapse, FTX examiner, FTX experts, government regulators, hearing, impartial, independent examiner, John Dorsey, John Hickenlooper, John J. Ray III, Juliet Sarkessian, Lawyers, Letter, mutually agreed solution, News, pure hell, Senators, Sullivan Cromwell, Sygnia, testimony, Thom Tillis, U.S. Trustee, unanswered questions, US Trustee / admin / February 7, 2023 / attorney, Bankruptcy, ceo, Congress, cost, Court, creditors, criminal investigators, cybersecurity firm, cynthia lummis, debtors, Decision, DOJ, duplicated effort, Elizabeth Warren, expenses, experts, ftx, FTX Bankruptcy, FTX collapse, FTX examiner, FTX experts, government regulators, hearing, impartial, independent examiner, John Dorsey, John Hickenlooper, John J. Ray III, Juliet Sarkessian, Lawyers, Letter, mutually agreed solution, News, pure hell, Senators, Sullivan Cromwell, Sygnia, testimony, Thom Tillis, U.S. Trustee, unanswered questions, US Trustee

Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millions of dollars. Currently, the bankruptcy judge is h