SEC Lawyers Resign Following ‘Gross Abuse of Power’ in Crypto CaseÂ
At least two lawyers from the US SEC have resigned in response to the agency being sanctioned by a federal
Cryptocurrency regulations have been a hot topic of debate among the community ever since digital assets came into existence.
The debate circles whether legislation on cryptocurrencies will carry positive or negative outcomes for the crypto ecosystem.
Some believe that cryptocurrencies such as Bitcoin should operate on their own, without any regulatory oversight. This comes from one of their predominant and perhaps most essential features – decentralization, or the lack of central authorities. This would put the power entirely in the hands of network participants.
However, and on the other hand, there are a lot who believe that proper and well-defined regulations are a critical step towards mass adoption.
In reality, the tendency seems to be favoring the latter group. The well-known and reputable cryptocurrency companies and exchanges are doing their best to abide by the law in order to deliver further security and to avoid regulatory scrutiny.
This is especially the case in the fields of Know-Your-Customer (KYC) and Anti Money-Laundering (AML) regulations. These are welcomed with mixed feelings by the crypto community because they strip away one of the landmark feats of most cryptocurrencies – privacy.
At least two lawyers from the US SEC have resigned in response to the agency being sanctioned by a federal
US Senators Kirsten Gillibrand and Cynthia Lummis have introduced legislation for a regulatory framework for stablecoins, but Elizabeth Warren wants
Teng said Binance is now looking at sustainability and more compliance; hence the company’s focus on building a robust compliance
Critics believe Argentina’s government is turning against Bitcoin despite its president’s promises to uphold libertarian values.
Per the FCA, "finfluencers" need agency-appointed rep approval before advertising memes about financial products/services.
The FIRS mentioned the detained Binance execs as the second and third defendants in the lawsuit against the exchange.
Binance is under scrutiny for allegations of money laundering and terrorism financing.
The CDC aims to address and counter the SEC’s current aggressive regulatory tactics rather than relying on clear, legislated rules.
Only two days before the deadline, HTX withdraws its newly-requested crypto license application.
Crypto-related crime has tripled in Hong Kong over the span of three years, with 2023 cases involving approximately $611 million.