regulation | ForkLog

ForkLog 16 23.05.2024

US House of Representatives Passes Crypto Regulation Bill

The US House of Representatives has passed a bill on the structure of the cryptocurrency market, known as the FIT21, aimed at regulating the industry as a whole. The bill received 279 votes in favor and 136 against. The Republican-sponsored bill was supported by 71 Democrats, including former Speaker Nancy Pelosi. “FIT21 is the first […]

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ForkLog 17 22.05.2024

Gary Gensler Criticizes FIT21 Bill as Regulatory Threat

Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), voiced opposition to the FIT21 bill just hours before a vote. This was reported by CoinDesk. “[The document] would create new regulatory gaps and dismantle decades of precedent regarding oversight of investment contracts, exposing investors and capital markets to immeasurable risk,” he stated. FIT21 […]

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ForkLog 18 18.05.2024

Kraken Evaluates Potential Delisting of USDT in the EU

The cryptocurrency exchange Kraken is “actively reviewing” the status of the stablecoin USDT in light of new EU regulatory rules, reports Bloomberg. “We have contingency plans for all scenarios, including situations where listing specific tokens like USDT is simply not prudent. We are actively reviewing this matter and will make firm decisions once the position […]

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ForkLog 18 17.05.2024

US Senate Votes to Repeal SEC Directive

On May 16, the US Senate passed a joint resolution to annul the Staff Accounting Bulletin 121 (SAB 121) issued by the Securities and Exchange Commission (SEC). 2/ The tally, a stunning 60 “Yeas” in the Senate vote, sends a strong signal that both houses of Congress, across the political divide, clearly disapprove of this […]

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ForkLog 10 15.05.2024

SEC Considers Ethereum’s Security Status Amid ETF Application Reviews

The SEC may contemplate assigning Ethereum the status of a security, as inferred from a request for comments, noted attorney Scott Johnsson. I’m aware this is widely considered a possibility, but this is your official notice that the SEC is considering the security question for ETH in this upcoming spot ETF order. Note that this […]

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ForkLog 7 10.05.2024

“There is an attack on decentralised services”: ATH speakers on the perils of crypto regulation

What over-regulation threatens the industry with and how MiCA will affect it, how effective sanctions are, and what should change in Russian law. Guests of ForkLog’s All Time Half (ATH) conference weigh in. Which legal action against crypto platforms is the most outlandish? Sergei Mendeleev (Exved.com): The prosecution of TornadoCash developers. The most consequential for […]

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ForkLog 30 10.05.2024

Charles Hoskinson Accuses Biden of Aiming to ‘Kill’ the Crypto Industry

US President Joe Biden is allegedly making deliberate efforts to dismantle the country’s cryptocurrency industry, according to Cardano co-founder Charles Hoskinson. Biden and Crypto https://t.co/P06encxBEv — Charles Hoskinson (@IOHK_Charles) May 8, 2024 According to the expert, in recent years the US government has only “harmed” startups. He cited restricted access to bank accounts, the policy […]

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ForkLog 32 09.05.2024

Taiwan Enforces Prison Sentences for Cryptocurrency-Based Money Laundering

Individuals using digital assets for money laundering in Taiwan now face prison terms ranging from six months to five years, as stipulated by new anti-fraud legislation. According to ABMEDIA, Taiwan has recently passed new regulations. Any cryptocurrency service provider that fails to complete money laundering prevention registration will face up to 2 years in prison. […]

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ForkLog 9 09.05.2024

EU Regulator Considers Inclusion of Crypto Assets in €12 Trillion UCITS Funds

The European Securities and Markets Authority (ESMA) has sought input from stakeholders on the feasibility of incorporating digital assets into UCITS funds. According to a 2023 report by the EFAMA, the total volume of this sector has reached €12 trillion. During discussions, which will continue until August 7, ESMA hopes to assess the potential risks […]

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ForkLog 17 08.05.2024

Indonesia’s Regulator Establishes Cryptocurrency Committee

Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti) has established a cryptocurrency committee to oversee the industry’s operations and compliance. This was reported by CoinDesk. Digital assets fall under the jurisdiction of Bappebti, as they are considered a commodity in Indonesia. “Optimizing the role of the Committee should become a key focus in implementing the current […]

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ForkLog 8 07.05.2024

Gary Gensler Criticizes Lack of Crypto Asset Disclosure

Amidst the scrutiny of cryptocurrency firms, SEC Chairman Gary Gensler has expressed concerns that investors are not receiving sufficient information about digital assets. This was reported by The Block, citing the official’s interview with CNBC. Journalists inquired about the Wells notice issued to the crypto division of online broker Robinhood. The head of the Commission […]

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ForkLog 11 07.05.2024

CFTC Chair Predicts Increased Regulatory Pressure on Crypto Industry

The growing interest of retail investors and the rising market capitalization of cryptocurrencies are leading to an expansion of enforcement actions within the industry. This was stated by Rostin Behnam, chairman of the CFTC. During a panel discussion at the 27th annual Milken Institute conference, the official mentioned that he anticipates another “cycle of enforcement […]

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