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Policy

Ripple's Prolonged Legal Battle with the SEC Comes to a Close

The US Securities and Exchange Commission's lawsuit against Ripple Labs, initiated in 2020, has officially concluded. This follows a joint stipulation by both parties to dismiss their respective appeals of a 2023 court ruling, with each party bearing its own costs. The legal dispute began when the SEC, under the leadership of former Chair Jay Clayton, alleged that Ripple had breached securities l…

Aug. 7, 2025, 10:45 p.m.

Policy

US President Signs Executive Order to Integrate Cryptocurrencies into 401(k) Plans

In a significant move, US President Donald Trump has issued an executive order permitting the inclusion of cryptocurrency investments in 401(k) retirement plans, paving the way for substantial capital inflows into the asset class. This order also allows for investments in private equity, which is expected to considerably broaden the range of investment options available to retirement plan provide…

Aug. 7, 2025, 9:06 p.m.

Policy

Paxos Hit with $26.5M Fine by NYDFS for Compliance Shortfalls Related to Binance's BUSD

The New York Department of Financial Services (NYDFS) has imposed a $26.5 million fine on Paxos, a stablecoin issuer based in New York City, due to significant lapses in its compliance and anti-money laundering protocols, including those associated with its former partnership with the global cryptocurrency exchange Binance, as announced on Thursday. In conjunction with the fine, Paxos has commi…

Aug. 7, 2025, 2:56 p.m.

Policy

KakaoBank Enters South Korea's Thriving Stablecoin Market as CBDC Plans Stall

KakaoBank is set to enter the rapidly expanding stablecoin market in South Korea, according to recent reports. During the company's earnings call for the first half of the year, CFO Kwon Tae-hoon stated that KakaoBank is actively exploring opportunities in stablecoin issuance and custody, aligning its participation with the country's evolving digital asset policies. Kwon added that the company pl…

Aug. 7, 2025, 5:39 a.m.

Policy

Roman Storm Found Guilty of Operating Unlicensed Money Transmission Business in Partial Ruling

A Manhattan jury has found Tornado Cash developer Roman Storm guilty of conspiring to run an unlicensed money transmission business. The verdict came after four days of deliberation, following a three-week trial. However, the jury was unable to reach a unanimous decision on the charges of conspiracy to commit money laundering and conspiracy to violate international sanctions. A sentencing date ha…

Aug. 6, 2025, 5:12 p.m.

Policy

Jury in Roman Storm Case Unable to Reach Verdict, Told to Continue Deliberations

In New York, the jury responsible for determining the fate of Roman Storm, the developer behind Tornado Cash, has notified the court that they are deadlocked and cannot reach a unanimous verdict on at least one of the charges. This development occurred on the fourth day of jury deliberations. According to Inner City Press, Storm's defense team proposed that the court accept a partial verdict, whi…

Aug. 6, 2025, 2:50 p.m.

Policy

Philippine SEC Intensifies Crackdown on Unlicensed Cryptocurrency Trading Platforms

The Philippine Securities and Exchange Commission (SEC) has announced that it may initiate enforcement actions against several cryptocurrency exchanges, including OKX, ByBit, and Bitget, for operating without the requisite licenses. The commission has also warned the public against utilizing these unregistered platforms. In a notice issued on August 4, the SEC identified Mexc, KuCoin, and Kraken …

Aug. 6, 2025, 2:09 p.m.

Policy

Laser Digital Receives Regulatory Approval for Crypto Derivatives in Dubai, Backed by Nomura

The cryptocurrency trading arm of Japan's Nomura bank, Laser Digital, has secured a limited license from Dubai's Virtual Asset Regulatory Authority (VARA) to provide regulated over-the-counter (OTC) crypto derivatives. As the first entity to be regulated under VARA, Laser Digital will offer direct client-facing crypto OTC option services. Dubai, with its crypto-friendly regulatory environment, ha…

Aug. 6, 2025, 8:16 a.m.

Policy

China Flags Iris Scanning by Worldcoin as a Threat to National Security

The Ministry of State Security in China has issued a warning about the potential misuse of biometric data, specifically highlighting foreign companies that offer cryptocurrency incentives in exchange for iris scans, in a move that appears to target Worldcoin. This warning was posted on the ministry's official WeChat account. The ministry cited a case where a foreign company rewarded users with cr…

Aug. 6, 2025, 4:01 a.m.

Policy

US Securities Regulator Clarifies Liquid Staking Compliance

According to a recent statement from the US Securities and Exchange Commission, participants in liquid staking, including both depositors and providers, are not required to comply with securities law disclosures. The statement, released by the Division of Corporation Finance, specifically focuses on liquid staking, a process where individuals deposit certain crypto assets into a third-party staki…

Aug. 5, 2025, 7:51 p.m.