FinTech executives are warning that the U.K. risks falling behind in the burgeoning crypto industry due to its cautious regulatory approach. While the U.S. embraces a more pro-crypto stance under President Donald Trump, and other countries actively pursue industry-friendly reforms, the U.K. is perceived to be prioritizing safety over innovation,...
Rachel Reeves, the UK Finance Minister, announced plans for a "comprehensive regulatory regime for crypto assets" at a fintech event on Tuesday. The proposals seek to mold the UK into a “global hub for digital assets.” Second, they target the fast-growing and highly speculative crypto markets.The UK has put out...
WazirX, formerly India’s leading crypto exchange by volume, is preparing to relaunch its services. This follows an even more tragic $234 million hack that hit the platform in July 2024. The exchange has begun working to return to normal operations and make impacted users whole with reimbursement. WazirX’s relaunch still...
Donald Trump’s changing attitude towards digital assets has been a groundbreaking phenomenon in the digital asset world. From initial skepticism to becoming a vocal advocate, Trump's involvement has been both surprising and consequential, reshaping how the U.S. approaches blockchain technology and digital currencies. His actions have caused a firestorm of...
The U.S. federal government is leaning much more on crypto—an encouraging early sign that a digital finance inflection point is happening in earnest. Recent developments show a commitment to fostering the growth of crypto, with initiatives aimed at securing America's position in the digital asset economy. This change in mindset...
Dave McCormick, a member of the Senate Banking Committee’s subcommittee on digital assets, has invested up to $1 million in Bitcoin this year, raising questions about potential conflicts of interest as his committee considers cryptocurrency regulation. The subcommittee, now chaired by Cynthia Lummis (R-WY), has been given the responsibility of...
The Federal Reserve (Fed) and the Federal Deposit Insurance Corporation (FDIC) recently announced the withdrawal of previously issued guidance concerning banks' involvement with crypto-assets. The American Bankers Association (ABA) applauded the announcement. It withdraws a 2022 supervisory letter that called on state member banks to inform the Fed prior to...
Cryptocurrency firms are still trying to navigate unclear regulatory standards. A memecoin dinner invitation extended to Trump backers has stirred up political ire in Washington. Investment advisers are struggling to know which of the thousands of cryptocurrency assets are securities, which is causing real harm and confusion in the marketplace....
Earlier this week, Paul Atkins was sworn in as SEC Chair. This begins the third official term he’s served with the agency. Shortly after the Senate confirmed Atkins, he got right to work defining his priorities. To his credit, he seems intent on laying out unambiguous regulatory guardrails for the...
First, SEC Commissioner Hester Peirce raised alarm around the lack of clarity in existing crypto regulation in the US. Peirce recommended that the SEC issue clear rules around custodianship and classifications of assets for crypto assets. How else are we to find long-term and protect growth of the U.S. crypto...
