Elizabeth Warren’s Anti-Crypto Stance: A Challenge to the Industry & Innovation

Senator Elizabeth Warren has been an outspoken critic of cryptocurrencies, voicing her concerns over their potential risks and impact on the financial system. This article delves into the conflict between Warren’s anti-crypto stance and the broader crypto industry, which seeks…

SEC Chair Gary Gensler to testify before congress over crypto regulation – Unprecedented Congressional Oversight Looms

Recently, US authorities have intensified their actions against the domestic cryptocurrency industry, making Operation Choke Point 2.0 more evident than ever. The US Securities and Exchange Commission (SEC) has been central to this campaign, as it issued a Wells Notice…

Binance Addresses Senators’ Concerns (includes Senator Warren) and Clarifies Misconceptions

In a recent response to a letter dated March 1, 2023, from Senators Warren, Van Hollen, and Marshall, Binance addressed concerns and misconceptions regarding its regulatory compliance and transparency . The letter provided a detailed background on Binance and its…

CFTC Files Complaint Against Binance and Executives – What we know so far

The Commodity Futures and Trading Commission (CFTC) has filed a complaint against cryptocurrency exchange Binance, its co-founder Changpeng Zhao, and former chief compliance officer Samuel Lim. The filing accuses them of soliciting U.S. users and circumventing the exchange’s own compliance…

Treasury Department and IRS Seek Feedback on Tax Treatment of NFTs as Collectibles

The Treasury Department and Internal Revenue Service (IRS) have announced plans to solicit feedback regarding the tax treatment of nonfungible tokens (NFTs) as collectibles under tax law. The guidance also requests comments on NFTs as collectibles and outlines the IRS’s…

Wyoming’s ‘Crypto Queen’ Senator Cynthia Lummis Advocates for Fair US Crypto Regulations

Senator Cynthia Lummis has emerged as a leading advocate for cryptocurrency regulation and adoption in the U.S. Senate. As the first senator to publicly disclose her Bitcoin holdings, Lummis has been vocal about the need for a balanced approach to…

Navigating the Risks of Crypto Asset Securities: What Investors Need to Know – SEC writeup and Advice

The SEC’s Office of Investor Education and Advocacy continues to advise investors to exercise caution when considering investments involving crypto asset securities. These investments can be highly speculative and extremely volatile, and the platforms used for buying, selling, borrowing, or…

SEC Charges Crypto Entrepreneur Justin Sun and Celebrities for Fraud and Securities Law Violations

On Wednesday, the Securities and Exchange Commission (SEC) filed charges against cryptocurrency entrepreneur Justin Sun and his three companies, Tron Foundation, BitTorrent Foundation, and Rainberry (formerly BitTorrent), for fraud and other securities law violations. Sun and his companies have been…

SEC Targets Coinbase with Wells Notice on Staking & Asset Listings

Unpacking Coinbase’s Response to the SEC’s Wells Notice: Staying Compliant Amid Regulatory Confusion It’s been two years since the SEC thoroughly reviewed Coinbase’s business and approved its public listing. The company’s S1 filing clearly outlined their asset listing process, and…

Texas Senator Ted Cruz’s Bill to Block CBDC

Senator Ted Cruz Proposes Legislation to Prevent Federal Reserve from Creating Central Bank Digital Currency Introduction: Senator Ted Cruz (R-Texas) recently presented a bill to prohibit the Federal Reserve System from developing a direct-to-consumer central bank digital currency (CBDC), effectively…