Travis Hill, chair of the US Federal Deposit Insurance Corporation (FDIC), confirmed that, in his opinion, a law passed in July would not give the agency the authority to guarantee stablecoin deposits. In remarks prepared for the American Bankers Association (ABA) Washington Summit on Wednesday, Hill said that under rules for the stablecoin payments bill,…
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The prediction markets platform argued for an injunction against Ohio authorities, claiming that federal commodities laws superseded state laws on sport event contracts. An Ohio federal court has denied a motion filed by prediction markets platform Kalshi for a preliminary injunction against Ohio state authorities over allegations that the company was operating in violation of…
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Paul Atkins, chair of the US Securities and Exchange Commission (SEC), said that an agreement with the Commodity Futures Trading Commission (CFTC) would lead to a new level of “coordination and collaboration,” including on enforcement. In a Tuesday speech for the FIA Global Cleared Markets Conference in Florida, Atkins said that the SEC and CFTC…
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A policy paper from the UK government’s Home Office said that “vulnerabilities remain” in authorities’ attempts to fight fraud in emerging payments, including digital assets. The UK government has issued a policy paper on how to combat fraud against individuals and businesses from 2026 to 2029, specifically noting that its strategy would consider digital assets.…
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Fairshake, the political action committee backed by crypto companies Ripple Labs and Coinbase, among others, has reported additional spending on Illinois congressional races with the US midterm elections less than eight months away. In filings on Sunday with the Federal Election Commission, Fairshake reported a $16,000 media buy to oppose Illinois state representative La Shawn…
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Cynthia Lummis, one of Wyoming’s two US senators, who announced plans to leave the chamber in 2027, has revived a push for a de minimis tax exclusion on small cryptocurrencies transactions as the Senate debates a digital asset market structure bill. In a CNBC interview on Wednesday, Lummis said that the House Ways and Means…
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Nevin Shetty was convicted of wire fraud related to secretly moving $35 million in funds from a Seattle startup to his own crypto platform in 2022 to use for DeFi investments. A Seattle judge has sentenced the former chief financial officer of a local startup to two years in prison following his conviction for wire…
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Massachusetts Senator Elizabeth Warren, one of the more outspoken voices in Congress often connecting cryptocurrencies to illicit activities, slammed the US Securities and Exchange Commission’s settlement with Tron founder Justin Sun. In a Thursday notice, Warren accused the SEC of “giving a free pass” to Sun after he “poured $90 million” in crypto investments tied…
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Cryptocurrency exchange Binance has officially responded to a February inquiry launched by a group of 11 US senators, largely denying facilitating transactions to Iranian entities and the narrative around employees’ terminations. In a Friday letter to US Senators Richard Blumenthal and Ron Johnson of the Permanent Subcommittee on Investigations, Binance said that an inquiry launched…
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The proposed interpretative application of federal securities laws on digital assets by the SEC reportedly carries more weight than staff-level statements. Officials at the US Securities and Exchange Commission (SEC) submitted a regulatory proposal to the White House with the potential to change how the government handles enforcement of federal securities laws over cryptocurrencies. In…
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