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Policy
US SEC Chairman Announces Agency's Plan to Revise Custody and Guidance Rules
The US Securities and Exchange Commission is currently reviewing its custody rules for digital assets, focusing on how various financial institutions can handle cryptocurrency transactions. In a recent appearance on 'Mornings With Maria', SEC Chairman Paul Atkins stated that the agency is 'mobilizing' its divisions to implement the recommendations of President Trump's crypto working group, aiming…
Aug. 15, 2025, 1:42 p.m.
Policy
Wall Street and Consumer Advocates Unite to Push for Revisions to Stablecoin Legislation
The US banking sector, in an unexpected alliance with consumer advocacy groups, is calling for amendments to the recently enacted stablecoin law. The law, known as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, has been hailed as a significant step towards regulating the US stablecoin industry. However, bankers and consumer advocates alike are raising concerns o…
Aug. 14, 2025, 8:34 p.m.
Policy
US Imposes Sanctions on Cryptocurrency Network Linked to Garantex and Rouble-Backed Stablecoin
The US Treasury Department's Office of Foreign Assets Control (OFAC) has imposed sanctions on a network of companies, exchanges, and executives connected to the now-defunct Russian cryptocurrency exchange Garantex and the rouble-backed stablecoin A7A5, alleging their involvement in helping Russia circumvent international sanctions. Garantex, which was established in 2019 and previously licensed i…
Aug. 14, 2025, 8:23 p.m.
Policy
Korea's 'Onshore' Won Policy May Hamper Stablecoin Ambitions
Good morning, Asia. Here's a rundown of the top market news: Welcome to Asia Morning Briefing, a daily summary of key stories and market analysis during US hours. For in-depth US market coverage, see CoinDesk's Crypto Daybook Americas. South Korea's decision to prioritize private-sector stablecoins over a central bank digital currency has sparked significant activity among fintechs and banks. As …
Aug. 14, 2025, 1:24 a.m.
Policy
A16z and DeFi Group Submit Proposal to US SEC for DeFi App Safe Harbor
Throughout its history of guiding portfolio companies through the US regulatory landscape, Andresseen Horowitz (a16z) has consistently proposed measures to exclude crypto activities from securities laws, and its latest petition to the Securities and Exchange Commission seeks to extend such protection to decentralized finance (DeFi) websites and mobile apps. This request, submitted in collaborat…
Aug. 13, 2025, 9 a.m.
Policy
Meet Patrick Witt, President Trump's Newly Appointed Senior Crypto Adviser
Following the departure of Bo Hines, President Donald Trump's cryptocurrency adviser, his deputy Patrick Witt is poised to take the reins in guiding the industry's policy priorities in Washington. Witt's appointment comes as the industry continues to seek comprehensive regulations and the establishment of a federal cryptocurrency reserve. With a background similar to Hines, Witt is a former footb…
Aug. 12, 2025, 1:49 p.m.
Policy
Tether and Tron's T3 Unit Seizes $250 Million in Illicit Assets Within a Year
Less than a year after its inception, the T3 Financial Crime Unit, a collaborative effort between Tron, Tether, and TRM Labs, has successfully frozen over $250 million in assets linked to illicit activities. According to Paolo Ardoino, Tether's CEO, this accomplishment demonstrates the potential of industry cooperation in achieving a common objective. Since its formation in September 2024, T3 has…
Aug. 12, 2025, 11:30 a.m.
Policy
Terra Founder Do Kwon May Alter His Plea in Ongoing US Fraud Case
According to a judge's statement on Monday, Do Kwon, the founder of Terraform Labs, is expected to potentially change his 'not guilty' plea in a federal court hearing scheduled for Tuesday. This development comes after Kwon initially pleaded 'not guilty' to several charges of fraud and market manipulation related to the collapse of Terraform's Terra/Luna stablecoin ecosystem. Kwon was extradited …
Aug. 11, 2025, 8:27 p.m.
Policy
Paxos Seeks Federal Charter for National Bank Trust, Following in Footsteps of Circle and Ripple
Paxos, a prominent stablecoin issuer, has submitted an application for a national bank trust charter to the Office of the Comptroller of the Currency, marking a significant step towards federal regulatory supervision. This move is intended to upgrade its existing New York Department of Financial Services license to a federal charter, thereby placing the company under federal oversight. Paxos is k…
Aug. 11, 2025, 3:59 p.m.
Policy
Animoca Brands and Standard Chartered Launch Stablecoin Venture in Hong Kong
Animoca Brands, a prominent Web3 investor, has collaborated with Standard Chartered's Hong Kong division to establish a joint venture focused on stablecoins. The venture, known as Anchorpoint, also includes Hong Kong Telecom and aims to create a business model for issuing licensed stablecoins, as announced via email on Friday. Anchorpoint has expressed interest in obtaining a stablecoin issuer li…
Aug. 8, 2025, 9:07 a.m.