Politics, Legal & Regulation

May 20, 2025 @ 6:52 pm By JD Alois  |  

The US Department of Justice is investigating the recent insider hack of Coinbase (NASDAQ:COIN), according to Bloomberg. Coinbase is said to have brought the breach to the authorities’ attention, but the company itself is not under investigation. Paul Grewal, Coinbase’s Chief Legal Officer, highlighted this fact… Read More

May 20, 2025 @ 6:34 pm By JD Alois  |  

The “Accredited Investor Definition Review Act,” HR 3348, has been approved by the House Financial Services Committee in a 36-16 vote. Representative Bill Huizenga, the bill’s sponsor, outlined its goals in an X. “Accredited investors are currently defined by the SEC based on their income and… Read More

May 20, 2025 @ 3:22 pm By JD Alois  |  

Today, Paul Atkins, the newly minted Chairman of the Securities and Exchange Commission, testified in front of the House Appropriations Subcommittee on Financial Services and General Government. In prepared testimony, Chairman Atkins delivered remarks to the members that indicated the Commission has now returned to its age-old… Read More

May 20, 2025 @ 11:43 am By JD Alois  |  

CurveBlock has been approved to join the UK Digital Securities Sandbox (DSS), a project led by the Financial Conduct Authority (FCA) and the Bank of England. CurveBlock is a Leeds-based Fintech in the Proptech sector. The ambition is to pursue real estate tokenization. CurveBlock is… Read More

May 19, 2025 @ 10:45 pm By JD Alois  |  

This evening, the Senate Stablecoin Bill, the Genius Act, or The Guiding and Establishing National Innovation for U.S. Stablecoins (S 1582), garnered sufficient votes on a cloture motion to proceed in the Senate. Previously, on May 8th, the bill failed to gain the needed votes to end debate… Read More

May 19, 2025 @ 1:47 pm By Omar Faridi  |  

DailyPay, a worktech company and a leading provider of On-Demand Pay (also known as earned wage access), marks another regulatory achievement as Indiana becomes the latest state to sign into law legislation regarding the product. Indiana’s HEA 1125 codifies the industry’s best practices “into law,… Read More

May 19, 2025 @ 10:12 am By JD Alois  |  

Two resolutions impacting the Consumer Financial Protection Bureau (CFPB) have been signed into law by President Donald Trump. The CFPB has been a controversial agency since its inception. A pet project of certain left-wing policymakers, the Trump administration has effectively crippled the agency and its… Read More

May 17, 2025 @ 1:03 pm By Michael Wong  |  

A Ukrainian court has authorized the transfer of virtual assets seized during a major fraud and illegal gambling investigation, to the country’s National Agency for Asset Recovery and Management (ARMA), according to a court ruling in local dialect. The move marks a significant development in… Read More

May 17, 2025 @ 12:02 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) has proposed reforms aimed at simplifying initial public offering (IPO) requirements and expanding outreach to investors, as part of broader efforts to strengthen the city-state’s position as a competitive equities hub. In a consultation paper, MAS outlined a three-pronged… Read More

May 17, 2025 @ 11:14 am By Tony Zerucha  |  

Our Revolution, a grassroots organization, hosted a national organizing call Monday night with Sens. Elizabeth Warren and Jeff Merkley to discuss the GENIUS Act, legislation that provides rules to govern the stablecoin sector, and mobilize a people-powered firewall against what it says is the crypto-corporate… Read More

May 16, 2025 @ 11:58 am By Omar Faridi  |  

The Bank of London is reportedly under investigation by the Prudential Regulation Authority (PRA), raising serious concerns about its long-term ability to maintain operations. The probe, disclosed in the bank’s recently filed accounts—submitted months behind schedule—centers on “historical matters” predating a significant ownership change in… Read More

May 15, 2025 @ 4:27 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) continues to reverse the damaging policies enacted by the SEC during the Biden Administration. Today, the SEC announced that it has withdrawn the previous guidance on Broker-Dealers and the custody of digital assets. The SEC Division of Trading and… Read More

May 15, 2025 @ 3:59 pm By JD Alois  |  

The current definition of an Accredited Investor has long been understood to be misdirected, disenfranchising millions of potential investors. Today, the definition defines an individual as “Accredited” based on a wealth metric. Broadly, this means earning over $200,000 a year ($300,000 if married) or having… Read More

May 15, 2025 @ 9:51 am By JD Alois  |  

Coinbase (NASDAQ:COIN), the only publicly traded crypto exchange in the US, is reporting it was the target of a cyber attack that saw criminals attempt to extort $20 million from the firm to make it all go away. According to a blog post, bad actors… Read More

May 14, 2025 @ 10:18 pm By Omar Faridi  |  

Texas Attorney General Ken Paxton has secured a historic $1.375 billion settlement with Google, marking the largest state-level data privacy settlement in U.S. history. The agreement reportedly resolves two lawsuits filed in 2022 that accused Google of unlawfully collecting Texans’ personal data, including location information,… Read More

May 14, 2025 @ 4:24 pm By JD Alois  |  

New York Attorney General Letitia James has sued Capital One (NASDAQ:COF), alleging the company misled consumers about its 360 Savings Account and interest rates. Capital One dodged a similar suit brought by the Consumer Financial Protection Bureau (CFPB), which was dismissed this past spring. The… Read More

May 13, 2025 @ 11:34 pm By Omar Faridi  |  

The financial sector in the US is undergoing a transformative shift, as regulatory challenges that once stifled innovation in digital assets are being addressed with progressive policies and guidelines. According to Chainalysis, a new era is beginning for banks, one where they can explore cryptocurrency… Read More

May 12, 2025 @ 4:35 pm By JD Alois  |  

Kathy Hochul, the Governor of New York, has signed legislation that aims to regulate Buy Now Pay Later (BNPL) providers. The legislation seeks to make it easier for consumers to cancel subscriptions, require platforms to post return and refund policies, make “surveillance price” more transparent,… Read More

May 11, 2025 @ 4:27 pm By Michael Wong  |  

German police have shut down the cryptocurrency platform eXch, confiscating €34 million ($38 million) in digital assets, authorities said, marking one of the country’s largest crypto-related seizures to date. The operation, conducted by the Federal Criminal Police Office (BKA) and the Frankfurt public prosecutor’s office,… Read More

May 10, 2025 @ 4:07 am By Omar Faridi  |  

The Office of the Comptroller of the Currency (OCC) has recently unveiled a series of transformative updates aimed at strengthening bank supervision and embracing technological innovation, particularly in the realm of cryptocurrency. These changes, detailed in Bulletin 2025-9 and News Releases NR-OCC-2025-43 and NR-OCC-2025-44, reflect… Read More