CFPB leaves crypto wallets out of ‘Larger Participant’ rule
The agency highlighted consumer and industry comments in a 259-page report detailing the final draft of the “Larger Participants” rule. Go to Source
Regulation
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Lawmaker Demands Overhaul Amid Regulatory Failures: ‘The Era of Post-Financial Crisis Regulation Is Over’
“Post-financial crisis regulation is over,” a top U.S. lawmaker has declared, calling for urgent reforms to digital asset oversight, regulatory transparency, and leadership accountability at federal agencies. Lawmaker’s Warning Signals Major Shake-up for Financial Oversight Agencies House Financial Services Committee Chairman Patrick McHenry criticized federal regulators during a Wednesday hearing, calling for updated financial oversight … Read more
Stablecoin bill faces several challenges — former Senator Pat Toomey
The total market capitalization of the stablecoin sector has topped $174 billion as of November 2024 and continues to grow. Go to Source
Fmr House Speaker warns partisan gridlock could derail Trump’s crypto plans
Paul Ryan served as Speaker for the House of Representatives prior to Nancy Pelosi. Go to Source
FTX co-founder Gary Wang sentenced to time served
Wang was the final FTX executive awaiting sentencing over the 2022 exchange collapse and subsequent fraud charges. Go to Source
Japan passes stimulus package, commits to crypto tax reform
Proposed changes include taxing cryptocurrency at a 20% flat rate instead of the current variable ‘miscellaneous income’ rate. Go to Source
The Crypto Cleanup: South Africa’s New Bid to Exit FATF’s Grey List
South Africa’s Financial Intelligence Centre has issued Directive 9, requiring digital asset platforms to collect and store identity information for cryptocurrency transactions. New Rules Force Crypto Platforms to Track User Identities A South African financial intelligence unit has issued a directive obligating digital asset platforms to collect the identities of parties involved in cryptocurrency transactions. … Read more
Ripple CEO Sounds Alarm on SEC Chair Selection Amid Warnings of Oversight Risks
Ripple’s CEO has warned against SEC Chair candidates tied to past enforcement controversies, urging leadership that fosters innovation and ends punitive crypto regulation. A Name Sparks Debate: Ripple CEO Slams SEC Chair Prospect Brad Garlinghouse, CEO of Ripple, has criticized the potential appointment of Caroline Stebbins as the next U.S. Securities and Exchange Commission (SEC) … Read more
Final FTX exec to be sentenced on Nov. 20 — What should users expect?
Three of the five individuals indicted in the FTX case have been sent to prison, while one was given time served. Go to Source
Satoshi Action Fund Open-Sources Strategic Bitcoin Reserve Model, Hints at Executive Order Implementation
Dennis Porter, CEO and co-founder of the Satoshi Action Fund, recently announced the open-sourcing of a document for enacting Strategic Bitcoin Reserve laws internationally. He stated that several lawmakers are using the legislative model and that a related executive order to implement it could be on its way. Satoshi Action Fund CEO Releases Strategic Bitcoin … Read more