FCA Proposes Crypto Crime Guidance On Wallet Checks And Blockchain Analytics
TL;DR: The FCA is consulting on updated financial crime guidance for crypto businesses, including customer checks, blockchain analytics and the Travel Rule. Responses are due December 24, and the guide itself would not create new rules. Crypto businesses preparing for the UK’s expanded regulatory regime have a more detailed picture of the controls the Financial…
US Senator Questions Tether Over Reported Payments Linked To Former Crypto Adviser
TL;DR: Senator Richard Blumenthal has demanded records from Tether and consultancy Nxum over reported payments and potential ethics concerns; the inquiry is not a finding of wrongdoing. Tether is facing questions from a senior U.S. senator over reported payments to a consultancy connected to a former White House crypto-policy official. The concern is about potential…
Crypto Industry Group Pushes Congress For Small-Payment Tax Relief And Clearer Rules
TL;DR: The Blockchain Association has asked congressional leaders to advance bipartisan crypto tax changes, including a de minimis exemption and revised treatment of stablecoins and staking rewards. For a person buying coffee with cryptocurrency, the tax rules can be far more complicated than the payment itself. A U.S. crypto trade group is asking Congress to…
Bitwise Asks SEC To Protect Funds Relying On Token Status Filings
TL;DR: Bitwise filed a supplemental SEC comment seeking clearer protection for firms that rely on token-status filings. The October 21 letter develops its earlier proposal; it is an industry request, not an adopted rule. Bitwise is pressing the Securities and Exchange Commission to answer a question that matters to fund managers: when can a firm…
Crypto Industry Group Asks Treasury To Clarify GENIUS Act Rules For DeFi
TL;DR: The Blockchain Association has urged the US Treasury to draw clearer lines around DeFi software, foreign stablecoin issuers and who could face liability under proposed GENIUS Act rules. The fight over US stablecoin regulation is shifting from Congress to the details of implementation. In comments on Treasury’s proposed Section 3 rules under the GENIUS…
Hyperliquid Policy Center Calls For Five Changes To SEC Crypto Rule
TL;DR: The Hyperliquid Policy Center supports the SEC’s proposed crypto framework but says five changes are needed to make the rules workable for token developers and markets. The Hyperliquid Policy Center has welcomed the US Securities and Exchange Commission‘s attempt to clarify how securities law applies to crypto assets, while warning that details around distributions…
FinCEN Withdraws Crypto Rules Targeting Mixers And Unhosted Wallets
TL;DR FinCEN has withdrawn two proposed digital-asset rules covering unhosted-wallet transactions and convertible virtual currency mixing. Both proposals had remained unfinished for years and would have added new recordkeeping or reporting obligations for financial institutions. The withdrawals do not remove the AML and KYC rules that already apply to regulated crypto businesses. Two long-running U.S.…
CFTC Opens Rulemaking Push For Retail Leveraged Crypto Markets
TL;DR The CFTC has opened an advanced rulemaking process around retail commodity transactions involving crypto assets. The agency is asking for public input as it considers a more comprehensive federal framework for leveraged and margined retail crypto markets. This is an early-stage rulemaking step, not a final licensing regime that takes effect immediately. The Commodity…
SEC Chair Declares ‘Crypto’s Time Has Come’ In Latest Statement – Get The Full Scoop
Paul Atkins, the newly appointed chair of the US Securities and Exchange Commission (SEC), has boldly declared that “crypto’s time has come,” marking a pivotal moment in the regulator’s approach to digital assets. Atkins Declares End To ‘Weaponization’ Of Regulation Delivering a keynote address at the inaugural OECD roundtable on global financial markets, Atkins expressed…
Hayden Davis Faces Interpol Alert For Role In LIBRA Memecoin
An Argentine prosecutor has requested a judge to issue an Interpol “Red Notice” for Hayden Davis, an American citizen allegedly involved in the launch of the controversial LIBRA memecoin that has entangled Argentine President Javier Milei in a dramatic political scandal. LIBRA Memecoin Scandal The request, made by prosecutor Gregorio Dalbón, reviewed by Fortune, accuses…