Tagged: crypto council for innovation

House Digital Asset Legislation, the Financial Innovation and Technology for the 21st Century Act, Takes Another Step Forward

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

Insiders Comment on the SEC’s Approval of Bitcoin ETFs

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

Staunch Supporter of Crowdfunding, Fintech, Congressman Patrick McHenry Announces He Will Not Seek Re-Election

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

Crypto Council for Innovation Files Amicus Brief in Support of Coinbase and SEC Action

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

New Legislation Submitted to Senate Banking Designed to Regulate Digital Assets, DeFi: Crypto Council for Innovation Slams Bill as “Arbitrary and Ill-defined”

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

Partial Win for Ripple in Court Ruling on XRP, Digital Asset Jumps in Value

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

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

Crypto Council for Innovation Comments on Anticipated EU Digital Euro Package

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

Industry Insiders Comment on Crypto is Like Gambling Statement Issued by Parliament Treasury Committee

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

Crypto Council for Innovation Comments on US Department of Treasury Report on DeFi

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

Crypto Council Comments on Binance Enforcement Action: CFTC Goes Straight for the Knockout

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

Crypto Council CEO Comments on Possible SEC Enforcement Action Against Coinbase Following Wells Notice

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

Second Mover Advantage: Crypto Council Comments on UK’s Push to Regulate Crypto, Embrace Digital Asset Innovation

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

Crypto Council for Innovation Comments on White House Crypto Statement, RFI Issued on Digital Assets

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

Crypto Council for Innovation Comments on Sam Bankman-Fried Arrest

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

Crypto Council Survey: Voters Support Digital Assets

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

Financial Stability Board Publishes Proposed Framework for Regulation of Crypto Assets

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

The Crypto Council for Innovation Recognizes House and Senate Members Supportive of Digital Asset Innovation

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

US Senators Introduce Bi-Partisan Digital Commodities Consumer Protection Act

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

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