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Policy
Crypto Council for Innovation Broadens Its Scope by Merging with Proof of Stake Alliance
As global regulators intensify their focus on the role of staking in digital assets, the Crypto Council for Innovation (CCI) has absorbed the Proof of Stake Alliance (POSA), a move that underscores the growing importance of staking in the digital economy. With hundreds of billions of dollars at stake, this integration is poised to shape the future of digital assets. Alison Mangiero, Executive Dir…
Oct. 30, 2024, 11 a.m.
Policy
President Biden Expresses Gratitude to Nigerian Leader for Release of Binance Executive
In a personal phone call on Tuesday, US President Joe Biden reached out to Nigerian President Bola Tinubu to extend his thanks for the release of Tigran Gambaryan, a Binance executive who had been detained. According to a statement released by the White House, President Biden emphasized his appreciation for President Tinubu's decisive action in securing Gambaryan's release. Gambaryan, who serves …
Oct. 29, 2024, 6:29 p.m.
Policy
US Treasury Department Omits Crypto in New Financial Inclusion Plan
The US Treasury Department has unveiled a new strategy aimed at promoting financial inclusion, but its 35-page report makes only a single reference to cryptocurrency, focusing on the associated risks. This approach seems to diverge from Vice President Kamala Harris' campaign trail statements, where she expressed support for cryptocurrency as part of her economic agenda. The Biden administration's…
Oct. 29, 2024, 4:51 p.m.
Policy
BIS Weighs Closure of mBridge Amid Growing Interest in Alternative Payment Systems
The Bank for International Settlements' (BIS) involvement in mBridge is under scrutiny following a report that top officials discussed potentially shutting down the project. This development comes after Russian President Vladimir Putin expressed interest in creating an alternative international payments system, which has put the spotlight on mBridge. The project, backed by the BIS Innovation Hub …
Oct. 29, 2024, 9:47 a.m.
Policy
FTX's $228 Million Agreement With Bybit Brings Bankruptcy Resolution Closer
The FTX bankruptcy saga is gradually coming to an end, with the company securing approximately $228 million from Bybit to facilitate the court-approved cash distribution. This latest settlement involves the recovery of $175 million in assets from Bybit accounts and an agreement for Bybit to purchase FTX debtors' BIT tokens for around $53 million, allowing for the recovery of significant value fro…
Oct. 28, 2024, 5:08 p.m.
Policy
HKEX to Introduce Cryptocurrency Index in November
Hong Kong Exchanges and Clearing is set to unveil a series of virtual asset indices on November 15, as announced by the company on Monday. According to Bonnie Y Chan, CEO of HKEX, "The provision of transparent and dependable real-time benchmarks aims to facilitate informed investment decisions, ultimately contributing to the growth of the virtual asset ecosystem and solidifying Hong Kong's positi…
Oct. 28, 2024, 9:53 a.m.
Policy
Netherlands Seeks Public Input on Proposed Legislation for Crypto Asset Tax Disclosure
On Thursday, the Netherlands initiated a public consultation regarding a proposed law that would obligate cryptocurrency service providers to disclose user data to tax authorities. This move is in response to a European Union directive, known as DAC8, which necessitates the collection and reporting of user data by crypto service providers to tax authorities, facilitating the exchange of informati…
Oct. 25, 2024, 3:01 p.m.
Policy
Pennsylvania Legislature Approves Landmark Cryptocurrency Legislation
According to recent reports, the Pennsylvania House of Representatives has successfully passed a bipartisan cryptocurrency bill designed to provide much-needed regulatory clarity for digital assets, ahead of the upcoming November elections. The bill, known as House Bill 2481 or the Bitcoin Rights bill, garnered significant support with 176 votes in favor and 26 against, including unanimous backin…
Oct. 25, 2024, 6:30 a.m.
Policy
Activist Group Demands Shutdown of Kalshi's Election Market Due to Alleged Manipulation
Kalshi, a regulated exchange, has been highlighting its compliance with regulations in its ongoing legal battle to offer event contracts on U.S. elections, in contrast to its larger, crypto-based rival Polymarket. However, activist group Better Markets is using Polymarket's activities as ammunition to stop Kalshi from allowing traders to make political bets. In a recent court brief, Better Market…
Oct. 24, 2024, 6:51 p.m.
Policy
Binance Executive Tigran Gambaryan Released from Nigeria After 8-Month Ordeal
Tigran Gambaryan, a Binance executive who was detained in Nigeria for eight months on money laundering charges, has been released and has left the country. A spokesperson for his family confirmed to CoinDesk that he was freed from Kuje prison and has since departed Nigeria. According to a lawyer on Gambaryan's legal team, 'he is currently en route' to his destination. Gambaryan's health had signi…
Oct. 24, 2024, 2:42 p.m.