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Policy
VanEck Proposes Launch of the First U.S. BNB Exchange-Traded Fund
VanEck has submitted a proposal to the Securities and Exchange Commission (SEC) to launch a novel exchange-traded fund (ETF) that tracks the performance of Binance's native cryptocurrency, BNB, on its blockchain. The filing, made on Monday, marks the first such proposal for a BNB ETF in the U.S. market. BNB is the indigenous token of the BNB Chain, which was introduced by Binance in 2017. If the …
May 6, 2025, 2:15 p.m.
Policy
Florida Drops Legislation for State-Backed Bitcoin Reserve
Florida has pulled the plug on two bills that would have created a state-level strategic bitcoin reserve. House Bill 487 and Senate Bill 550 have been taken off the table, according to the state Senate website. The bills, filed in February, sought to permit the investment of public funds in bitcoin. Florida joins a growing list of states, including Wyoming, Pennsylvania, and Oklahoma, where simil…
May 6, 2025, 9:23 a.m.
Policy
Litecoin ETF Decision Deferred by SEC, Public Input Sought
The US Securities and Exchange Commission has postponed its ruling on Canary Capital's proposal for a Litecoin spot exchange-traded fund. This move follows the agency's delay of several other spot cryptocurrency ETF applications, including those for XRP, Hedera, and Dogecoin, last week. Despite not initially delaying the Canary Litecoin ETF, the regulator has now announced a postponement and is s…
May 6, 2025, 12:54 a.m.
Policy
Top House Democrat Blocks Hearing on Crypto Market Structure Bill
Rep. Maxine Waters, the leading Democrat on the House Financial Services Committee, has announced that she will prevent a joint hearing between her committee and the House Agriculture Committee on a newly proposed market structure bill. The hearing, scheduled for Monday, was intended to discuss the oversight of cryptocurrency by the Securities and Exchange Commission and the Commodity Futures Tra…
May 5, 2025, 7:47 p.m.
Policy
Lawyers for Samourai Wallet Claim Prosecution Withheld Crucial Evidence, Seek Case Dismissal
Attorneys representing Samourai Wallet have alleged that the prosecution suppressed vital evidence, prompting a call for a hearing to assess whether the case against the company's co-founders should be dismissed due to an alleged Brady violation. In a recent court filing, the lawyers revealed that the Financial Crimes Enforcement Network told prosecutors in August 2023 that Samourai Wallet did no…
May 5, 2025, 6:37 p.m.
Policy
US Lawmakers Introduce New Bill to Regulate Cryptocurrency Market
A landmark cryptocurrency regulation bill has been introduced to the US Congress, marking a significant step towards establishing a clear domestic regulatory regime for digital assets. The House Financial Services and Agriculture Committees have jointly released a discussion draft of the bill, which aims to provide much-needed regulatory clarity for the industry. According to Representative Frenc…
May 5, 2025, 4:26 p.m.
Policy
US Imposes Sanctions on Burmese Militia Group Accused of Operating 'Pig Butchering' Scam Compounds
The US Department of the Treasury has imposed sanctions on a Burmese militia group, the Karen National Army, which is allegedly operating a large-scale hub for cyber scammers. As a result, the group has been blocked from accessing the US financial system. According to US authorities, the organization has been providing a safe haven for transnational criminal groups to carry out illicit activities…
May 5, 2025, 3:22 p.m.
Policy
Former President Trump Rejects Allegations of Financial Gain from TRUMP Cryptocurrency
Former US President Donald Trump has dismissed accusations that he is benefiting financially from the TRUMP token, a digital currency launched just before his presidential inauguration. According to a recent report by Chainalysis, the TRUMP token generated $900,000 in fees for its backers over a two-day period. The largest holders of the token, controlling 80% of the TRUMP tokens, are CIC Digital…
May 5, 2025, 7:49 a.m.
Policy
Arizona Governor Rejects Bitcoin Investment, Blocks Reserve Bill
Arizona has put a hold on investing in bitcoin, at least for now, after Governor Katie Hobbs rejected a bill on Friday that would have allowed the state to include the digital asset in its official reserves. The legislation, known as Senate Bill 1025, proposed utilizing confiscated funds to invest in bitcoin and create a state-managed digital assets reserve. Following a narrow 31-25 vote in the…
May 3, 2025, 4:01 p.m.
Policy
Crypto Regulatory Update: Key IRS Officials Depart
Recent years have seen significant regulatory activity in the crypto space, with the IRS being particularly active. Last Friday, two key directors announced their departure from the agency. This development comes as part of a larger trend, with over 20,000 IRS employees having accepted deferred resignation offers, including these two directors who were overseeing digital asset rulemaking. Despite…
May 3, 2025, 1:30 p.m.