The rise of cryptocurrencies has created a digital frontier that is as alluring as it is perilous, particularly concerning the custody of these assets. Unlike traditional financial instruments such as stocks and bonds, the management of crypto assets entails unique challenges, primarily because of the heightened risk of cybercrime. As the market for crypto custody
Regulation
In a significant move within the cryptocurrency trading landscape, eToro has announced a cease in trading for most digital assets on its platform, following a settlement of $1.5 million with the US Securities and Exchange Commission (SEC) on September 12. This decision marks a turning point for the platform, which has faced scrutiny for allowing
The Securities and Exchange Commission (SEC) finds itself in the crosshairs of a congressional investigation, igniting debates about the integrity and impartiality of one of the nation’s primary financial regulatory bodies. This investigation stems from accusations that the SEC, under Chairman Gary Gensler’s stewardship, may have engaged in hiring practices that prioritize political affiliations over
The Law Commission of the United Kingdom Parliament recently introduced the Property (Digital Assets, etc.) Bill in an effort to legally recognize digital holdings, including cryptocurrencies, non-fungible tokens (NFTs), and carbon credits. This groundbreaking legislation aims to clarify the legal status of these assets under British law, marking a significant milestone in the evolution of
The Commodity Futures Trading Commission (CFTC) has taken a stand against the surge in crypto scams known as “pig butchering” by collaborating with federal and private organizations. These scams have caused billions in losses due to lack of awareness and understanding among consumers. The CFTC’s campaign aims to educate the public on recognizing warning signs
The Digital Chamber (TDC) has recently made a bold move by calling on Congress to pass legislation that would classify certain non-fungible tokens (NFTs) as consumer goods, thereby exempting them from federal securities laws. The organization argues that NFTs created for consumptive use, such as digital art, collectibles, and video game assets, should not be
SEC Commissioner Hester Peirce has expressed ongoing concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). In response to a speech by SEC Chief Accountant Paul Munter affirming the Commission’s stance on SAB 121, Peirce reiterated her reservations. She questioned both the content and process of the regulation, underscoring the need for a
In 2024, the US Securities and Exchange Commission (SEC) set a new record by imposing fines totaling $4.68 billion against cryptocurrency companies. This marked a significant escalation in the agency’s regulatory actions, with the total amount of fines levied since 2013 reaching $7.42 billion. The spike in fines in 2024 accounted for 63% of the
Recently, Robinhood’s crypto division agreed to pay a $3.9 million fine, settling a California investigation into its past practices. The investigation revealed that Robinhood Crypto prevented users from withdrawing their digital assets from 2018 to 2022. Additionally, the company failed to fully disclose details about its trading and order-handling processes. The investigation also found that
The US Securities and Exchange Commission (SEC) recently charged and settled with hedge fund Galois Capital Management LLC over a private fund that primarily invested in cryptocurrency. The SEC alleges that Galois Capital failed to comply with client asset safeguarding requirements, particularly with crypto assets labeled as securities. As a result, Galois Capital agreed to