2023-3-30 19:44 |
Ric Edelman, founder of the Digital Assets Council of Financial Professionals, talks about a key reason why crypto’s future looks bleaker: an apparent effort to cut it off from U.S. banks.
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Turkey and India advanced crypto policies on May 16 that could create a framework for businesses and investors operating in each country. Reuters reported that the Securities and Exchange Board of India (SEBI) wants multiple regulators to oversee crypto trading in the country.
The US Senate voted in favor of repealing the SEC’s Staff Bulletin 121 (SAB 121) on May 16. In all, 60 Senators voted in favor of HJ Res. 109, a resolution to overturn the bulletin, while 38 Senators voted against it.
US lawmaker Wiley Nickel has urged the Gary Gensler-led Securities and Exchange Commission (SEC) to repeal the Staff Accounting Bulletin 121 (SAB 121) before the impending Senate vote. SAB 121 requires financial institutions custodying crypto to hold these assets on their balance sheets.
Quick Take Bitcoin’s recent surge to $65,000, a level last seen on May 6, has sparked significant volatility in the digital assets market. Bitcoin has now seen a roughly 15% rally from the lows of May 1.
Dutch court convicts Tornado Cash developer Alexey Pertsev of laundering $1.2 billion, setting the stage for a significant impact on privacy in decentralized finance. The post Dutch court finds Tornado Cash dev Alexey Pertsev guilty of laundering $1.2B appeared first on Crypto Briefing.
US senators Ron Wyden and Cynthia Lummis sent a letter to the DOJ questioning if services like Samourai Wallet meet the definition of money transmitters under current laws and guidance. The post Senators question DOJ for ‘unprecedented interpretation’ over Samourai Wallet and Tornado Cash appeared first on Crypto Briefing.
House Financial Services Committee Chairman Patrick McHenry said new legislation that will give the crypto industry greater clarity regarding regulatory oversight is set for a potential House floor vote by the end of May.