Tagged: crypto council for innovation

May 10, 2024 @ 5:47 pm By JD Alois  |  

The Financial Innovation and Technology for the 21st Century (FIT21) Act is taking another step forward in a process to provide new rules to oversee the emerging digital asset ecosystem. The House Rules Committee has agreed to a floor vote, which is expected to take place… Read More

January 10, 2024 @ 4:57 pm By JD Alois  |  

As was reported earlier today, after an extended deliberation, the Securities and Exchange Commission (SEC) has approved eleven Bitcoin ETFs. CI has received multiple comments on the approval which is a seminal event for the crypto industry. Rajeev Bamra, SVP of Digital Finance at Moody’s… Read More

December 5, 2023 @ 4:55 pm By JD Alois  |  

Congressman Patrick McHenry, a Republican from North Carolina and current Chairman of the House Financial Services Committee, has announced his intent not to seek re-election to the seat in Congress he has held for 20 years. In a statement posted on the Congressman’s website, he… Read More

August 13, 2023 @ 10:09 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) revealed an enforcement action against Coinbase (NASDAQ:COIN) back in June. Among other allegations, the SEC claims that Coinbase is operating as an unregistered securities exchange. The SEC targeted Coinbase even though it had clearly approved the firm to become… Read More

July 19, 2023 @ 11:31 am By JD Alois  |  

New legislation has been submitted by Senator Jack Reed, co-sponsored by Senators Mark Warner,  Mike Rounds, and  Mitt Romney. The Crypto Council for Innovation has slammed the legislation as “arbitrary and ill-defined.” The bill (S.2355) is described as “a bill to clarify the applicability of… Read More

July 13, 2023 @ 3:37 pm By JD Alois  |  

Ripple scored a victory today as the courts have now ruled that the sale of XRP on crypto exchanges did not violate US securities law in a partial win for the digital asset firm. The ruling helped to drive the value of XRP higher –… Read More

June 27, 2023 @ 6:30 pm By JD Alois  |  

The European Union is expected to release its proposal on digital payments and a possible digital euro soon. In advance of the anticipated release, the Crypto Council for Innovation has issued a statement on the forthcoming policy. Mark Foster, the EU Policy Lead at the… Read More

May 18, 2023 @ 7:23 am By JD Alois  |  

Digital asset industry participants are pushing back against the Parliament Treasury Committee’s report on crypto that declared the asset class should be treated like gambling. The statement was predicated on the opinion that many cryptocurrencies hold no intrinsic value – except for speculation. The Chair… Read More

April 6, 2023 @ 6:14 pm By JD Alois  |  

Earlier today, the US Department of Treasury posted a report on DeFi entitled “2023 DeFi Illicit Finance Risk Assessment.”  For the first time, Treasury addressed the concept of DeFi  – a sector of digital assets that engenders challenges for regulators. Treasury noted that DeFi is… Read More

March 28, 2023 @ 9:49 am By JD Alois  |  

This past week, the Commodities Futures Trading Commission filed an enforcement action against Binance and its founder Changpeng Zhao (CZ). The lawsuit comes as no surprise to industry followers as Binance is the largest crypto exchange globally and represents a fat target for regulators. The… Read More

March 23, 2023 @ 10:14 am By JD Alois  |  

Yesterday, the only publicly traded digital asset exchange, Coinbase (NASDAQ:COIN), announced that it has received a Wells Notice from the SEC indicating there is a high possibility of an enforcement action. Coinbase criticized the move by the SEC, stating that it has attempted to engage with the… Read More

February 2, 2023 @ 12:53 pm By JD Alois  |  

Yesterday, the UK government announced that it would assist the crypto industry by providing robust regulation of the emerging innovation. As industry insiders acutely understand, without clearly defined rules, risk increases, generating hesitancy and undermining acceptance of the technology. While policymakers in the US have… Read More

January 29, 2023 @ 6:47 pm By JD Alois  |  

On Friday, the White House posted a statement on crypto and the administration’s policy pertaining to digital asset innovation. In recent months, multiple crypto firms have filed for bankruptcy and an algorithmic stablecoin, TerraUSD, ended up not being very stable – destroying holder value. Earlier… Read More

December 13, 2022 @ 8:56 am By JD Alois  |  

Sheila Warren, CEO of the Crypto Council for Innovation, has issued a  statement on the arrest of Sam Bankman-Fried, founder of FTX. The statement was issued prior to the announcement of civil charges being filed by both the Securities and Exchange Commission and Commodities Futures… Read More

October 26, 2022 @ 8:17 am By JD Alois  |  

The Crypto Council for Innovation has distributed information gleaned from a survey that indicates US voters are supportive of digital assets, with 13% stating they hold crypto. The national survey polled 1,200 likely voters and was conducted for the Crypto Council by a bipartisan team… Read More

October 11, 2022 @ 11:52 am By JD Alois  |  

The Financial Stability Board (FSB) has published a proposed framework for global regulation of crypto assets. The FSB stated in a release that “crypto-assets and markets must be subject to effective regulation and oversight commensurate with the risks they pose.” While acknowledging there is currently… Read More

September 20, 2022 @ 10:07 pm By JD Alois  |  

The Crypto Council for Innovation has recognized a large group of Senators and Members of the House of Representatives with its Digital Future Award, according to an email from the Council. The elected leaders are being acknowledged for their “initiative, engagement, and commitment to US… Read More

August 3, 2022 @ 11:18 am By JD Alois  |  

Several US Senators, all members of the Senate Committee on Agriculture, have introduced new bi-partisan legislation targeting the digital asset sector. U.S. Senators Debbie Stabenow, Chairwoman of the Senate Committee and John Boozman, Ranking Member, along with Senators Cory Booker and John Thune have introduced the Digital… Read More