Cornerstone Research says the US Securities and Exchange Commission launched 33 crypto-related lawsuits last year, down from 47 in 2023. Source: https://cointelegraph.com/news/sec-crypto-action-drop-final-year-under-gensler?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Author: Crypto Superhero
US Lawmakers Unite to Block IRS Rule Threatening Defi and Crypto Innovation
Lawmakers are pushing back on a Biden administration rule redefining decentralized finance participants as “brokers,” warning it risks stifling U.S. cryptocurrency innovation and driving it overseas. Biden’s Crypto Rule Sparks Backlash: Will It Push Blockchain Innovation Overseas? U.S. Senator Ted Cruz (R-Texas) and Representative Mike Carey (R-Ohio) have introduced a joint resolution aimed at overturning […] Source: https://news.bitcoin.com/us-lawmakers-unite-to-block-irs-rule-threatening-defi-and-crypto-innovation/
Ethereum Gaming Network Ronin Flooded With Meme Coins via Tama Launchpad
Tama Meme, a meme coin launchpad that allows users to create new tokens in a few clicks, is now live on Ronin, the Ethereum sidechain known for its gaming focus. Created by Moku, a developer with backing from Ronin creator Sky Mavis, Tama Meme is part of Ronin’s continued expansion under “Operation Leviosa”—an initiative to open up the previously curated…
Bitcoiners ‘struggling’ with Trump’s vague ‘digital asset stockpile’ order
“Bitcoin” wasn’t mentioned once in Trump’s executive order to study a crypto stockpile, so some maximalists fear it could include other cryptocurrencies. Source: https://cointelegraph.com/news/bitcoiners-struggling-trump-vague-crypto-stockpile-order?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Ripple vs. SEC: Better Markets Urges Court to Reverse ‘Flawed’ Ruling on XRP Token Sales
Better Markets filed an amicus brief in the SEC vs. Ripple case, criticizing the court’s ruling for ignoring the economic realities of Ripple’s XRP token sale. District Court Failed to Appraise Today’s Investor Better Markets, a non-profit committed to building a resilient financial system, has filed an amicus brief in the case between the U.S. […] Source: https://news.bitcoin.com/ripple-vs-sec-better-markets-urges-court-to-reverse-flawed-ruling-on-xrp-token-sales/
Bitcoin Donations Are Pouring In for Ross Ulbricht—Who Might Already Be Sitting on $47M in Old Wallets
Following President Donald Trump’s pardon of Silk Road founder Ross Ulbricht Tuesday, the Bitcoin community has rallied, pouring crypto into Ulbritcht’s donation fund at FreeRoss.org. But does he need the money? Ulbricht could already be sitting on millions in Bitcoin, according to Conor Grogan, a director at the San Francisco-based cryptocurrency exchange Coinbase. Grogan noted that around 430 BTC—worth approximately…
Crypto-Critic Elizabeth Warren Urges Regulators to Probe Trump Meme Coins
In a letter sent to federal regulators on Wednesday, noted crypto-critic Senator Elizabeth Warren and Representative Jake Auchincloss called for an investigation into the Trump and Melania meme coins launched on the Solana blockchain a day before Donald Trump’s second inauguration. Warren and Auchincloss raised concerns about potential conflicts of interest, consumer risks, and national security implications of cryptos linked…
Okx Exchange Receives MiCA Pre-Authorization
The pre-authorization for Okx brings it closer to obtaining a complete MiCA license after establishing a dedicated MiCA hub in Malta. Okx Inches Closer to Full MiCA License Okx Exchange has announced the receipt of Markets in Crypto-Assets Regulation (MiCA) pre-authorization for Virtual Financial Assets (VFA). This is a precursor to obtaining a full MiCA […] Source: https://news.bitcoin.com/okx-exchange-receives-mica-pre-authorization/
SEC cancels controversial crypto accounting rules
The SEC published a new Staff Accounting Bulletin revoking SAB 121, rules that governed how financial firms should hold crypto criticized by the industry. Source: https://cointelegraph.com/news/sec-cancels-crypto-accounting-guidance-sab-121?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
SEC Rescinds Controversial Crypto Accounting Rule, Signals Regulatory Shift
On Thursday, the U.S. Securities and Exchange Commission (SEC) rescinded Staff Accounting Bulletin (SAB) No. 121, signaling a shift in its approach to regulating crypto-assets under Commissioner Hester Peirce, who now heads the agency’s newly formed crypto task force. Introduced in March 2022, SAB 121 required companies to record a liability and a corresponding asset for crypto assets held on…