Tether, one of the most prominent stablecoin issuers in the cryptocurrency market, has announced its intention to relocate its headquarters to El Salvador. This decision follows the acquisition of a Digital Asset Service Provider (DASP) license, which signifies the company’s commitment to operating within a regulated framework. This strategic move is not merely about relocation;
Regulation
In a notable address delivered on January 10 in St. Louis, interim Chair Travis Hill of the Federal Deposit Insurance Corporation (FDIC) confronted the controversial practice of “debanking” that has increasingly impacted cryptocurrency firms. By drawing parallels between crypto-related businesses and historically marginalized groups, Hill positioned himself against the backdrop of a growing tension between
On January 10, the Consumer Financial Protection Bureau (CFPB) unveiled a significant proposed rule aimed at extending the protections enshrined in the Electronic Fund Transfer Act (EFTA) to the burgeoning realm of cryptocurrency wallets. This move attempts to integrate traditional consumer protections with the evolving landscape of digital finance, including stablecoins and alternative payment methods.
In a significant legislative initiative, the UK Treasury has enacted an amendment to the Financial Services and Markets Act 2000 (FSMA), effective January 31, distinguishing crypto staking as a unique activity separate from collective investment schemes. This development is crucial in providing clarity for stakeholders involved in the burgeoning world of cryptocurrency, particularly for those
The cryptocurrency landscape is witnessing mounting frustrations as outgoing Securities and Exchange Commission (SEC) Chair Gary Gensler prepares to depart his role. His tenure has been marked by persistent hostility toward the crypto industry, a position he reaffirmed in a recent interview with Bloomberg. Gensler painted a somber picture of the sector, referring to it
In a landmark development for the cryptocurrency sector, South Korea is set to loosen its regulatory grip on crypto trading for institutional investors. This potential change signifies a progressive transformation in how the nation approaches digital asset regulation. Traditionally, the South Korean market has been characterized by stringent guidelines that primarily accommodate verified retail investors.
Rostin Behnam, the Chair of the U.S. Commodity Futures Trading Commission (CFTC), has announced his resignation effective January 20, coinciding with the transition to President-elect Donald Trump’s administration. This strategic timing provides a window for the new administration to identify an interim leader, thus facilitating a smoother transition before Congress convenes to confirm a permanent
In a significant move that echoes broader regulatory sentiments across Europe, Banco de Investimentos Globais (BiG), one of Portugal’s premier financial institutions, has taken the unprecedented step of blocking fiat transfers to cryptocurrency platforms. This decision, as communicated by Delphi Labs’ co-founder José Maria Macedo, aligns with new directives from the European Central Bank (ECB),
As regulatory frameworks for cryptocurrencies tighten globally, Tether has taken a significant step toward compliance by investing in StablR, a European stablecoin issuer. This investment occurs in the context of the impending implementation of the European Union’s Markets in Crypto-Assets Regulation (MiCA). These regulations aim to create a comprehensive framework for stablecoin issuance, ensuring that
The European Union is poised to implement sweeping regulations concerning cryptocurrency under the new Markets in Cryptoassets (MiCA) framework. Set to come into full effect on December 30, these regulations are designed to introduce rigorous compliance measures aimed at fostering transparency and reducing illicit financial activities. However, these well-intentioned regulations are stirring considerable concern across