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Policy
Ripple Seeks Federal Bank Charter, Sparking 3% Surge in XRP
In a move to broaden its cryptocurrency offerings, Ripple, a leading digital asset company closely tied to the XRP Ledger network, has submitted an application for a federal banking license to the Office of the Comptroller of the Currency, as confirmed by a spokesperson. This license would enable the company to operate across state lines and expand its crypto services under federal oversight. Not…
July 2, 2025, 5:29 p.m.
Policy
US Justice Department's $225 Million Crypto Seizure Highlights Human Toll of Scams
The US Department of Justice has made a significant statement with its recent seizure of $225 million in cryptocurrency linked to pig butchering scams, emphasizing that these funds were stolen from innocent victims. According to Phil Selden, a former acting US Attorney for the District of Maryland, this move reflects a shift in approach towards supporting those affected by such crimes. Selden not…
July 2, 2025, 4:17 a.m.
Policy
European Central Bank Pledges to Advance Distributed Ledger Technology Settlement
The European Central Bank's Governing Council has given the green light to a research initiative that aims to utilize central bank-issued money for settling transactions based on distributed ledger technology. This effort seeks to enhance the efficiency of the bank's payment systems. Two key projects, 'Pontes' and 'Appia', are being developed to achieve this goal. 'Pontes' will establish a connec…
July 1, 2025, 10:13 p.m.
Policy
NYAG Letitia James Warns Congress About GENIUS Act's Lack of Investor Protection
New York Attorney General Letitia James has expressed concerns over the U.S. Senate's proposed stablecoin bill, the Guiding and Establishing National Innovation for U.S. Stablecoins of 2025 (GENIUS) Act, stating that it lacks the necessary safeguards to protect the American public. In a letter to Congress, James advised lawmakers to slow down the legislative process and draft a bill that balances…
July 1, 2025, 5:24 p.m.
Policy
US Senate Passes Budget Bill Without Crypto Tax Relief
The US Senate has approved a bill that forms the backbone of President Donald Trump's policy agenda, but it does not include a provision to simplify and reduce crypto taxation. Senator Cynthia Lummis had proposed changes to the US tax approach, including exempting small-scale crypto transactions from capital gains tax, but her amendment was not included in the bill. The bill was passed by a narro…
July 1, 2025, 4:38 p.m.
Policy
US Senator Pushes for Crypto Tax Relief in Budget Bill
US Senator Cynthia Lummis is attempting to introduce a significant crypto tax provision into the comprehensive budget bill, seeking to mitigate tax implications for fundamental cryptocurrency activities. Lummis' proposed amendment, part of Congress' 'Big Beautiful Bill', would exempt small crypto transactions under $300 from taxes, with an annual cap of $5,000, and rationalize the tax approach fo…
June 30, 2025, 11:08 p.m.
Policy
US Supreme Court Rejects Appeal in Coinbase User Data Privacy Dispute
The US Supreme Court has refused to hear a long-standing case regarding the Internal Revenue Service's request for information on thousands of Coinbase users. In a decision made on Monday, the court denied a petition from a Coinbase customer, James 'Jim' Harper, who argued that the IRS's 2016 request for user data violated his Fourth Amendment rights. Harper initially filed a lawsuit against the …
June 30, 2025, 4:38 p.m.
Policy
Crypto Industry's PAC Continues to Expand Its Influence as Congress Debates Cryptocurrency Legislation
The cryptocurrency industry's primary financial backer, Fairshake, has contributed a further $1 million to the campaign of a special election candidate in Virginia, who is seeking to replace the late Democratic Representative Gerald Connolly. The candidate, James Walkinshaw, who is favored by the industry's key political action committee, emerged victorious in the Democratic firehouse primary, wh…
June 30, 2025, 3:58 p.m.
Policy
Five Arrested in Spain for Alleged Involvement in $540 Million Cryptocurrency Scam
Law enforcement in Spain has apprehended five individuals suspected of participating in a large-scale cryptocurrency fraud scheme, which allegedly involved the laundering of approximately $540 million obtained from over 5,000 victims. The operation, conducted by the Guardia Civil, resulted in three arrests in the Canary Islands and two in Madrid on June 25. According to Europol, the suspects accu…
June 30, 2025, 11:45 a.m.
Policy
Korea's Central Bank Puts CBDC Plans on Hold Following Government's Stablecoin Legislation: Reports
According to a report by the Business Times on Monday, the Bank of Korea has put its central bank digital currency project on hold. The project was at an advanced stage, with a pilot program being developed in conjunction with participating banks. The central bank has informed the banks that discussions related to the project will be paused, as stated by an unnamed official. This development come…
June 30, 2025, 10:05 a.m.