Regulation

Rob Kaplan, the president and chief executive officer of the Federal Reserve Bank of Dallas will step down from his position after more than six years. In a Sept. 27 announcement, the Dallas Fed said Kaplan, its 13th president and CEO, would be retiring beginning Oct. 8. The 64-year-old cited recent attention to his “financial

Ethereum (ETH) developer Virgil Griffith has pleaded guilty to a federal charge that he conspired with North Korea to violate United States sanctions law.  On Monday, Griffith pleaded guilty in New York to conspiring to violate the International Emergency Economic Powers Act, which forbids U.S. citizens from exporting technology and intellectual property to communist countries.

According to Reuters, Pelosi expressed confidence the legislation will pass upon announcing the date on Sunday, Sept. 26, stating: “Let me just say that we’re going to pass the bill this week.” Earlier that same day she reportedly indicated she would not bring the bill to a vote unless she believed it would pass. Speaker

Acting head of the U.S. Office of the Comptroller of the Currency (OCC) Michael Hsu has warned that the exotic financial products developed in some quarters of crypto and DeFi were reminiscent of those that precipitated the 2008 Global Financial Crisis (GFC). Speaking before the Blockchain Association on Sept. 21, Hsu warned that “innovation for

The rapid adoption of cryptocurrencies like Bitcoin (BTC) poses a major challenge for the traditional financial system, an executive at the Chinese central bank has warned. Wen Xinxiang, director of the payment and settlement department at the People’s Bank of China (PBoC), has expressed concerns over the growing popularity of cryptocurrencies and fiat-pegged stablecoins. Pointing

Governments are tasked with bringing fair and efficient services to the public. Unfortunately, providing transparency and accountability often results in a reduction in efficiency and effectiveness or vice versa. Governments are usually forced to choose to improve one at the cost of the other. On rare occasions, technology comes along that enables governments to improve

The Chinese government is getting more serious about cracking down on the cryptocurrency industry as state authorities are bringing forces to combat crypto operations in the country. The People’s Bank of China (PBoC) officially announced on Sept. 24 a set of new measures to fight against crypto adoption in China, including promoting stronger inter-departmental coordination in

The legal status of cryptocurrencies remains a mixed bag of regulatory positions, depending on the jurisdiction being considered. While some countries move toward blanket prohibitions or stringent regulations, others elect to go with a more open approach to crypto. For Ukraine, the latter path appears to be the case, with the government encouraging legalized crypto

Hold onto your hats, boys and girls! It’s a new world — a financial system without intermediaries, that anyone can access 24 hours a day with only a mobile phone and a wallet! As Julien Bouteloup said to me:  “In DeFi, what we are building is fully decentralised technology, fully transparent, run by mathematics. No

The price of Bitcoin fell 8% today following “breaking” (read: weeks old) news that the People’s Bank of China, or PBoC, had declared all cryptocurrency transactions illegal. With that in mind, let’s take a nostalgic look at the last 12 years of FUD out of China, and see if we can spot any patterns. China

On September 17, a group of officials led by U.S. attorney Tracy Wilkinson have filed a civil complaint in the United States District Court for the Central District of California claiming that they have identified four digital wallets holding more than 9.8 million Tether (USDT) that was involved in wire fraud, computer fraud and money

In the midst of a fraught period for some high-profile United States crypto firms and financial regulators, Kraken’s chief legal officer (CLO) is calling for a dose of pragmatism going forward. Speaking on Bloomberg’s “QuickTake Stock” broadcast on Thursday, CLO Marco Santori told viewers, “You’re living in a fantasy world if you don’t believe that this

The Canadian Securities Administrators, or CSA, and Investment Industry Regulatory Organization of Canada, or IIROC, have issued guidelines for crypto trading platforms operating in the country to avoid “advertising and marketing materials that could mislead investors.”  In a Sept. 23 publication, the Canadian regulators’ guidelines warn crypto companies not to advertise “gambling style” promotions in

Nine banking industry associations have submitted a letter to the Basel Committee on Banking Supervision (BCBS) in response to its proposal to introduce stringent capital requirements for banks looking to hold crypto assets on their books. In June of this year, the BCBS had published a consultation paper which assigned a 1,250% risk weight to

HSBC, the largest European bank with total assets of $3 trillion, maintains a skeptical stance on cryptocurrency while promoting the central bank digital currency (CBDC) development. HSBC Group CEO Noel Quinn penned an article, New forms of digital money could spur growth, outlining the firm’s commitment to supporting the concept of CBDC as it provides transparent

Crypto companies from the United States filed two registration statements with the Securities and Exchange Commission (SEC) seeking permission to sell exchange-traded funds (ETF) in relation to Bitcoin (BTC) and decentralized finance (DeFi). An Atlanta-based investment company, Invesco joined New York’s Galaxy Digital Funds to file and register Invesco Galaxy Bitcoin ETF, a trust with