Bankrupt crypto lender Celsius is to hold a vote on its plan to sell assets to the Fahrenheit consortium, after a judge on Thursday approved disclosures that suggested creditors can expect to recover 67%-85% of holdings. Approval marks a final stepping stone on Celsius’ year-long march out of bankruptcy and the return of funds to … Read more
The U.S. Securities and Exchange Commission (SEC) asked for permission on Friday to appeal a federal judge’s ruling that XRP sales through exchanges didn’t violate securities law, a day after the judge said the SEC could present its argument. The SEC petitioned Judge Analisa Torres, of the U.S. District Court for the Southern District of … Read more
A group of crypto investors and developers lost a lawsuit funded by Coinbase that sought to argue the U.S. Treasury Department overstepped its authority in sanctioning Tornado Cash, a mixing service designed to make crypto transactions anonymous. Tornado Cash is an actual entity in itself, which has a property interest in its smart contracts, wrote … Read more
The Federal Reserve Board has ordered FTX-linked Farmington State Bank to wind down its operations after the tiny bank secretly engaged in digital assets-related activities, according to a Thursday enforcement action. Farmington, which operates under its Moonstone Bank name, “improperly” pivoted to a pro-digital assets business plan in 2022 without notifying, and obtaining approval from, … Read more
The central bank’s framework will apply to single-currency stablecoins pegged to the Singaporean dollar or any G10 currency. Issuers of such stablecoins seeking regulation in Singapore must meet certain requirements related to value stability, capital and redemption capitals. The Monetary Authority of Singapore (MAS) has unveiled its framework for regulating stablecoins following a public consultation … Read more
Crypto miners are establishing a new voice in U.S. policy, starting up the Digital Energy Council to lobby for friendly policy as regulators and Congress are wrestling with the next steps in crypto regulation. The member group will be advocating for policies “that promote responsible and sustainable energy development, grid resilience, maintain United States competitiveness, … Read more
Republicans on the U.S. congressional committee that oversees the Securities and Exchange Commission (SEC) are demanding agency Chair Gary Gensler explain how Prometheum Inc. won its unique approval as a broker-dealer for crypto. The 23 House Financial Services Committee lawmakers who signed the letter, led by Chair Patrick McHenry (R-N.C.), questioned how the previously unknown … Read more
The U.S. Federal Deposit Insurance Corp. added crypto as one of five broad categories this year in its annual risk report, a snapshot of the dangers the banking regulator considers a top priority at the moment. The 2023 Risk Review, which mostly looked back at crypto’s turbulent 2022, says the agency is prepared to engage … Read more
Former U.S. president Donald Trump holds up to $500,000 in an Ethereum wallet, a recently released filing with the U.S. Office of Government Ethics revealed. Trump, who is running for the oval office again in 2024, has been a long standing crypto skeptic. However, he released a collection of non-fungible token (NFT) cards last year … Read more
Javier Milei, a libertarian candidate who has advocated for the elimination of the central bank and spoken favorably of Bitcoin, was in the lead in Sunday’s primary presidential election in Argentina. With 84% of the vote counted, Milei – of the “La Libertad Avanza” (Freedom Advances) party – had 30.73% of the votes versus candidates … Read more