Bitcoin seems to be at an inflection point right now, between historic levels of adoption and remarkable regulatory activity. Despite a recent dip from over $104,000 to below the $100,000 threshold, the cryptocurrency has shown resilience, remaining steady above $105,000. This $100,000 threshold has assumed a more symbolic role during...
South Korea is taking a dramatic leap forward in the digital finance space. They’ve introduced the Digital Asset Basic Act, allowing domestic firms to issue stablecoins. This bill, championed by the Democratic Party and under the leadership of President Lee Jae-myung, aims to create a clear and regulated framework for...
A French-Moroccan national suspected of masterminding crypto ransom kidnappings in France has been arrested in Morocco. Badiss Mohamed Amide Bajjou, 24, was arrested in the northern Moroccan city of Tangiers. Maroc’s national police and National Intelligence Service carried out a combined enhanced security operation. They were responding to a request...
SEC Chair Paul Atkins has promised to make the agency’s approach to cryptocurrency regulation radically different. He guarantees that he will transition to formal policymaking rather than use ad-hoc enforcement actions. Atkins’ stated priorities as Chairman include encouraging innovation and protecting investors. He provides a rhetorical echo of President Donald...
BlackRock, the asset management giant overseeing over $11 trillion, recently engaged with the U.S. Securities and Exchange Commission (SEC) to discuss critical aspects of cryptocurrency market regulation. Priorities discussed at the meeting - Crypto staking - The tokenization of assets - Exchange-traded product (ETP) approval standards This further highlights BlackRock’s...
Meanwhile, the United Kingdom is laying the groundwork for a far-reaching crypto regulatory regime, positioning themselves to reclaim the initiative and emerge as a leader in digital finance. UK officials are developing a detailed framework that will subject crypto firms to the same stringent standards as traditional financial institutions. The...
BlackRock engaged with the U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force on May 9th to seek clarification on cryptocurrency regulations. The main topics of the conversation were tokenization, staking, and the approval process for exchange-traded products (ETPs). This meeting is a testament to BlackRock’s forward-thinking strategy to adapt...
U.S. legislators are calling for guidance to provide robust rules of the road that will ensure America remains a leader in blockchain innovation. Vice Chair of Finance Patrick McHenry and U.S. Representative for Iowa Zach Nunn are leading the charge to take a more holistic approach to digital assets. They...
A bills pending in Illinois – the Digital Asset Custody & Protection Act (DACPA) – has raised quite the furor. People are alarmed over its potential impact on the state’s burgeoning tech ecosystem. The bill, intended to regulate digital assets, could impose significant costs and compliance burdens on Illinois-based startups...
During this period, BlackRock was deeply involved in working with the SEC Crypto Task Force to promote the approval of crypto Exchange Traded Products (ETPs) and tokenization. They provided profound guidance on technical aspects, current workflows, and integrating staking functionalities in ETPs. The conversations follow up on an earlier session...
