US House committees hear similar testimonies in simultaneous hearings on digital assets
A range of speakers addressed issues of agency turf wars and regulator fitness in hearings on regulatory gaps. Go to Source Powered by WPeMatico
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US House Financial Committee Republicans look for records to show crypto debanking
The lawmakers see a “coordinated strategy” to deny the digital asset industry access to banking that is not related to a desire to protect banks. Go to Source Powered by WPeMatico
Hong Kong Judge Rules Crypto Assets as ‘Property,’ Following Similar Rulings Worldwide
In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency practitioners and other common law jurisdictions. Hong Kong Judge Designates Crypto … Read more
Lack of stablecoin regulation could push issuers out of US: Austin Campbell
Lawmakers didn’t reach a consensus between political parties on a stablecoin bill, as one witness warned this lack of regulatory clarify could drive certain projects abroad. Go to Source Powered by WPeMatico
Speakers prepare to tell US House Financial Services Committee about stablecoins
Five experts will testify at a hearing titled “Understanding Stablecoins’ Role in Payments and the Need for Legislation,” with two of them releasing their scripts in advance. Go to Source Powered by WPeMatico
US House committee chair repeatedly presses SEC chair: ‘Is Ether a commodity or a security?’
Securities and Exchange Commission chair Gary Gensler has said the SEC considers Bitcoin a commodity, but refused to pin down Ether at an oversight hearing. Go to Source Powered by WPeMatico
All eyes are on stablecoins: Law Decoded, April 10–17
A week before a hearing in Congress, the United States gets stablecoin regulatory framework. Go to Source Powered by WPeMatico
FTX’s Bankman-Fried Is Allegedly Using Alameda Funds to Pay for Legal Defense
According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that Bankman-Fried allegedly gave “at least $10 million” from the now-defunct quantitative trading firm Alameda Research to his … Read more
FDIC plans to return $4B in Signature crypto deposits ‘by early next week’ — Martin Gruenberg
The Treasury Department’s Under Secretary for Domestic Finance Nellie Liang said at the same hearing she didn’t believe crypto “played a direct role” in the failure of the banks. Go to Source Powered by WPeMatico
Ted Cruz and Ron DeSantis take on the ‘digital dollar’: Law Decoded, March 20–27
Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency. Go to Source Powered by WPeMatico
