Tag: court approval

WazirX Gears Up for Relaunch Following $234 Million Hack, Awaits Court Approval

WazirX Gears Up for Relaunch Following $234 Million Hack, Awaits Court Approval

• Regulation

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...

Further Reading

SEC Chair Vows to Overhaul Crypto Regulations, End "Regulation by Enforcement"

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 and SEC Discuss Crypto Regulations, Tokenization, and Staking

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...

UK Unveils Comprehensive Crypto Regulation Plan

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 Consults SEC on Crypto ETP Compliance

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...

Illinois' Proposed Digital Asset Law Threatens Tech Innovation

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...

BlackRock Discusses Crypto ETPs and Tokenization with SEC

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...

Senate Gridlock Stalls Stablecoin Legislation Amidst Partisan Divide

As it was, the Senate failed to pass the “GENIUS Act” even at this late hour. This bill would have established a regulatory framework for stablecoins but met fierce resistance from Democrats. Stablecoins are a type of cryptocurrency that are pegged to other assets like the U.S. dollar. As legislators...