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Policy
Ripple and SEC Reach $50M Settlement, Seek Court Approval
Ripple Labs and the US Securities and Exchange Commission have finalized a settlement agreement that, pending judicial approval, will bring an end to their prolonged legal dispute. The agreement, filed in a New York court on Thursday, stipulates a $50 million penalty, which is a fraction of the initial $125 million fine imposed by Judge Analisa Torres of the Southern District of New York, and a s…
May 8, 2025, 9:26 p.m.
Policy
Founder of Celsius, Alex Mashinsky, Receives 12-Year Prison Sentence for Fraudulent Activities
In New York, NY, Alex Mashinsky, the founder and former CEO of the now-bankrupt cryptocurrency lending platform Celsius Network, was given a 12-year prison sentence for his role in a fraud scheme. This sentence, handed down by Judge John Koeltl of the Southern District of New York, reflects the severity of Mashinsky's crimes, which included deceiving investors about the safety of their deposits a…
May 8, 2025, 7:42 p.m.
Policy
Stablecoin Bill Fails to Advance in Senate, Amid Democrat Objections and Trump Concerns
The proposed US legislation aimed at regulating stablecoins, such as Circle's USDC and Tether's USDT, hit a roadblock on Thursday as Democratic resistance prevented the bill from proceeding to the debate phase. The crypto industry has been closely monitoring the Senate, where the fate of this legislative priority hangs in the balance. Despite bipartisan approval in a previous Senate Banking Commi…
May 8, 2025, 6:33 p.m.
Policy
US Senate Republicans Urge Progress on Stablecoin Legislation
Republican Senate Majority Leader John Thune advocated for the progression of stablecoin legislation on the Senate floor, emphasizing the need for clarity to drive innovation in the US. Thune argued that the proposed Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act would establish a regulatory framework for stablecoin issuers, ensuring safeguards against money launde…
May 8, 2025, 3:08 p.m.
Policy
Binance Founder CZ Seeks Trump Pardon Following Prison Sentence
Changpeng 'CZ' Zhao, Binance's founder and former CEO, has confirmed on a podcast that he has formally applied for a presidential pardon from Donald Trump, less than a year after serving a four-month sentence in a US federal prison. According to Zhao, his legal team submitted the application two weeks prior, following the publication of articles by Bloomberg and The Wall Street Journal reporting …
May 8, 2025, 7:59 a.m.
Policy
US Regulator Allows Banks to Trade Customers' Cryptocurrency Assets
In a significant shift in policy, the US Office of the Comptroller of the Currency has announced that national banks can now engage in the buying and selling of cryptocurrency assets held in custody for their customers. The new policy, released on Wednesday, also permits banks to outsource cryptocurrency-related activities, including custody and execution services, to third-party providers, as lo…
May 7, 2025, 9:31 p.m.
Policy
New York Attorney General Sought SEC Declaration of Ethereum as a Security
According to documents released by Coinbase, the New York State Attorney General had requested the U.S. Securities and Exchange Commission to publicly declare Ethereum's ether as a security, rather than a commodity, during the state's prosecution of KuCoin in 2023. This request was made by Shamiso Maswoswe, chief of the Investor Protection Bureau for the New York AG, in a document obtained throug…
May 7, 2025, 3:30 p.m.
Policy
US Senator Investigates Trump's Cryptocurrency Ventures
A prominent Democrat on the Senate committee responsible for investigating corruption has launched an inquiry into President Donald Trump's recent cryptocurrency activities, citing concerns over a potential 'pay-to-play scheme' that could provide access to the presidency to the highest bidder. Senator Richard Blumenthal, the ranking Democrat on the Senate Permanent Subcommittee on Investigations,…
May 6, 2025, 10:30 p.m.
Policy
European Central Bank Launches Digital Euro Testing Hub with 70 Partners
The European Central Bank has established an innovation hub, comprising 70 participants, to pilot its digital euro initiative. Participants encompass a broad spectrum of entities, including start-ups, banks, and payment services, such as Accenture, Swisscom, CaixaBank, and KPMG. These companies have collaborated with the ECB to delve into the payment functionalities and potential applications of …
May 6, 2025, 2:51 p.m.
Policy
Trump's Cryptocurrency Venture Sparks Senate Backlash and Proposed Ban on Presidential Digital Assets
The recent involvement of President Donald Trump in the cryptocurrency space has prompted a strong response from Democratic senators, including a new bill proposed by Senator Chris Murphy that aims to prevent presidents and their families from engaging in the creation or promotion of digital assets, including memecoins. This move comes as Senator Elizabeth Warren has expressed her concerns about …
May 6, 2025, 2:30 p.m.