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Policy
Democrats Secure Additional Hearing on Cryptocurrency Market Regulation, Criticize Trump's Conflicts of Interest
In Washington, D.C., a recent House Financial Services Committee hearing focused on the crypto market structure bill, with Democrats expressing concerns about the potential for regulatory loopholes and the influence of President Trump's crypto ventures. The hearing, which was initiated by ranking Democrat Maxine Waters, aimed to address the Digital Asset Market Clarity Act, a Republican-led bill …
June 6, 2025, 4:33 p.m.
Policy
FCA to Repeal Crypto ETN Ban for Retail Investors in the UK
The UK's Financial Conduct Authority has announced plans to lift its ban on crypto exchange-traded notes, allowing retail investors to access these products on approved investment exchanges. This move is part of the UK's efforts to promote growth and competitiveness in the digital assets sector. While the FCA will maintain its ban on retail access to cryptoasset derivatives, it will permit the sa…
June 6, 2025, 10:40 a.m.
Policy
Binance Executive Tigran Gambaryan Exits Company After Turbulent Four-Year Stint
Tigran Gambaryan, a former US federal agent who led Binance's financial crime compliance efforts, has announced his departure from the company following a four-year tenure marked by significant challenges. Gambaryan joined Binance in 2021, a time when the crypto exchange was under increasing scrutiny for its compliance with anti-money laundering regulations. Under his leadership, the company buil…
June 6, 2025, 7:58 a.m.
Policy
Bipartisan Support Expected for Senate Stablecoin Bill, Says Democratic Lawmaker
A significant number of Democrats, potentially up to 16, are expected to vote in favor of the Senate's stablecoin bill in its final rounds of voting, Arizona Senator Ruben Gallego announced on Thursday. The 'Guiding and Establishing National Innovation for U.S. Stablecoins of 2025' (GENIUS) Act had faced opposition from Democrats last month due to concerns over consumer protection and other provi…
June 5, 2025, 9:39 p.m.
Policy
US Imposes Sanctions on Philippines-Based Tech Firm for Aiding Pig Butchering Scams
The US Department of the Treasury has taken action against a Philippines-based technology company, Funnull Technology Inc., for its role in supporting pig butchering scams by providing essential computer infrastructure for hundreds of thousands of scam websites. According to the Treasury's Office of Foreign Asset Control, this has resulted in over $200 million in losses for US victims, with indiv…
June 5, 2025, 8:39 p.m.
Policy
Trump Family Demands Magic Eden Halt Crypto Wallet Plans with Cease-and-Desist Letter
According to a report by Bloomberg, the Trump family has sent a cease-and-desist letter to Magic Eden and GetTrumpMemes.com over their plans for a Trump-branded crypto wallet. This move comes after the three sons of former US President Donald Trump - Don Jr., Eric, and Barron - publicly denied any involvement with the $TRUMP Wallet project, stating that neither the Trump family nor the Trump Orga…
June 5, 2025, 7:50 p.m.
Policy
US Authorities Confiscate Darknet and Internet Domains, Cryptocurrency Assets Linked to Illicit Credit Card Trade
US law enforcement has seized control of 145 darknet and internet domains, as well as cryptocurrency assets, connected to BidenCash, a platform notorious for trading stolen credit card information and related personal details, according to the US Attorney's Office for the Eastern District of Virginia. The marketplace reportedly generated $17 million in revenue, catering to over 117,000 clients an…
June 5, 2025, 3:44 p.m.
Policy
New Fed Supervision Chief to Hold Significant Influence Over Crypto Regulation
The U.S. Federal Reserve is set to welcome a new vice chairman for supervision, Michelle Bowman, who will oversee the regulation of the financial system, potentially including the oversight of stablecoin issuers. Following a close confirmation vote in the Senate, Bowman, a Kansas Republican and current Fed board governor, will assume a key leadership position. The supervision role was established…
June 5, 2025, 3:31 p.m.
Policy
Truth Social Takes a Significant Step Towards Launching a Spot Bitcoin Exchange-Traded Fund
Donald Trump's social media platform, Truth Social, is moving forward with its plans to introduce a spot bitcoin exchange-traded fund (ETF). The crypto asset management firm Yorkville America Digital, which is sponsoring the fund, filed an S-1 document with the Securities and Exchange Commission (SEC) on Thursday, just two days after submitting a 19b-4 document. Typically, the S-1 document is fil…
June 5, 2025, 2:15 p.m.
Policy
Hong Kong Prepares to Open Up Crypto Derivatives Trading
Hong Kong's financial regulator, the Securities and Futures Commission, is set to permit professional investors to engage in crypto derivatives trading, significantly broadening the territory's virtual asset market, as reported by China Daily. The crypto derivatives market is substantially larger than spot trading, with data from TokenInsight indicating that it reached $21 trillion in volume in t…
June 5, 2025, 5:20 a.m.