The government of the United Kingdom said it intends to modify a proposal that would have required crypto firms to collect personal data from individuals holding unhosted wallets that were the recipients of digital asset transfers. In its Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds updated on Wene, HM Treasury said…
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The firm behind one of the first Bitcoin futures-linked exchange-traded funds in the United States will give investors a new vehicle to bet against the price of the cryptocurrency. In a Monday announcement, exchange-traded fund issuer ProShares said its Short Bitcoin Strategy ETF would be available for trading on the New York Stock Exchange, or…
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The Federal Reserve’s board of governors pointed to stablecoins as a potential risk to financial stability amid a volatile crypto market. In its Monetary Policy Report released on Friday, the board of governors of the Federal Reserve System said “the collapse in the value of certain stablecoins” — likely referring to TerraUSD (UST) becoming unpegged…
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A group of 14 United States senators and House representatives have signed a letter to the Environmental Protection Agency extolling what they believe are the benefits of crypto mining. In a Thursday letter, many U.S. lawmakers including pro-Bitcoin Senator Cynthia Lummis and Representative Tom Emmer addressed EPA administrator Michael Regan, requesting the government agency analyze…
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The Texas State Securities Board has reportedly opened an investigation into crypto lending platform Celsius Network over its decision to suspend user withdrawals. According to a Thursday report from Reuters, Texas State Securities Board director of enforcement division Joseph Rotunda said the regulator began investigating Celsius on Monday shortly after the platform announced it would…
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Fabio Panetta, an executive board member of the European Central Bank, or ECB, proposed the central bank limit the total holdings of a digital euro in an effort to prevent the digital currency from being used as a form of investment. In a Wednesday speech for the Committee on Economic and Monetary Affairs of the…
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The Iowa Insurance Division, or IID, a regulator responsible for many securities sales in the state, has fined crypto lending firm BlockFi more than $943,000 after it allegedly offered and sold unregistered securities. In a Tuesday announcement, the state regulator said BlockFi had “offered and sold securities in Iowa that were not registered or permitted…
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Mairead McGuinness, the Commissioner for Financial Services, Financial Stability and Capital Markets Union at the European Commission, is moving forward with a discussion on regulating cryptocurrencies amid three major events in the space. In written remarks for a speech in Brussels on Tuesday, McGuinness said the Celsius Network’s recent suspension of withdrawals, as well as…
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Gary Gensler, chair of the United States Securities and Exchange Commission, or SEC, reiterated his call for investor protection in securities offered by crypto firms. Speaking virtually at the Robert F. Kennedy Human Rights Compass Investor Conference on Tuesday, Gensler said the SEC would use its existing authority to focus on cryptocurrency projects and exchanges,…
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Sarah Pritchard, the executive director of markets at the United Kingdom’s Financial Conduct Authority, or FCA, reportedly said the regulator will look at the recent volatility in the crypto markets when creating rules for the space in 2022. According to a Friday Bloomberg report, Pritchard said the financial regulator will “absolutely” take into account stablecoins…
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