The US Commodity Futures Trading Commission has withdrawn a Biden administration-era proposal that would have banned sports and political prediction markets, some of the most popular event contracts today. The recently confirmed CFTC chair, Mike Selig, said on Wednesday that the agency has withdrawn a 2024 notice of proposed rulemaking that sought to ban event…
Read more
Bitcoin could continue its downtrend as there are few catalysts to reverse the cryptocurrency’s fortunes, says Galaxy Digital research lead Alex Thorn. Thorn said in a note on Monday that there is a “significant chance” that over the coming weeks, Bitcoin (BTC) could fall to the bottom of a gap in supply at $70,000 before…
Read more
The UK’s advertising watchdog has reportedly banned a series of Coinbase advertisements, claiming they presented the crypto exchange as a solution to cost-of-living concerns while making light of the risks of investing in crypto. The UK Advertising Standards Authority said the ads — which included a satirical musical-style video and three posters — were “irresponsible”…
Read more
The crypto industry will need to become ingrained in everyday life in the US should Congress fail to pass a crypto market structure bill, or risk being set back by a change in administration, says Bitwise investment chief Matt Hougan. Hougan said in a note on Monday that legislation making its way through the Senate…
Read more
Republican Senator Roger Marshall has reportedly agreed to hold back on pushing an amendment aimed at credit card swipe fees when the Senate Agriculture Committee marks up a major crypto bill next week. Marshall filed an amendment to the committee’s version of a crypto market structure bill last week that would force companies to compete…
Read more
The Senate Banking Committee is backing Donald Trump’s move to bar institutions from buying family homes, which could delay the market structure bill, Bloomberg reports. Crypto market structure legislation could be delayed by several weeks as the Senate Banking Committee is shifting focus to US President Donald Trump’s affordability agenda, according to a report from…
Read more
The US Senate’s crypto market structure bill must be passed quickly while lawmakers can still cut deals to advance it, but it will require concessions, says a top White House crypto advisor. “There *will* be a crypto market structure bill — it’s a question of when, not if,” Patrick Witt, the executive director of the…
Read more
US Senate Judiciary Committee leaders are seeking to remove crypto developer protections from the Senate’s crypto market structure bill, arguing the provisions would weaken unlicensed money transmitting laws. Senate Judiciary chair Charles Grassley and the committee’s top Democrat, Richard Durbin, told Senate Banking Committee chair Tim Scott and top Democrat Elizabeth Warren on Wednesday that…
Read more
Russia will reportedly move to open up crypto to retail investors, with a new bill set to soon be introduced to the country’s legislature. Anatoly Aksakov, chair of the State Duma’s Financial Market Committee, said legislation to deregulate crypto is ready to be introduced with the aim of normalizing the asset for everyday use, the…
Read more
Senate Banking Committee Chairman Tim Scott says further negotiations to garner bipartisan support for a key crypto-regulating bill are needed before it can advance. The US Senate Banking Committee has cancelled its markup of a crypto market structure bill slated for Thursday, citing the need for further negotiation. Committee Chairman Tim Scott said late on…
Read more