Trying to put rules in place to oversee an industry that has grown largely outside of regulation is not without serious challenges. But the UK’s Financial Conduct Authority’s (FCA) latest consultation aims to attract industry views about how some key aspects of crypto trading should be regulated ahead of planned legislation due to come into effect next year.
Cryptocurrency and Digital Assets
Posted inRegulatory Enforcement
DOJ charges crypto executive with laundering $530M for sanctioned Russian banks
The Department of Justice has charged the founder of cryptocurrency company Evita with 22 violations for allegedly laundering more than $500 million through U.S. banks and cryptocurrency exchanges, on behalf of sanctioned Russian entities.
Posted inRegulatory Enforcement
SEC Chair Atkins signals end to ‘regulation by enforcement’ in line with Trump’s pro-crypto agenda
The Securities and Exchange Commission Chair Paul Atkins explained his agency’s shift on cryptocurrency regulation to a Senate committee as legislators bargain over President Donald Trump’s “One Big Beautiful Bill” and the GENIUS Act, which would have the federal government invest heavily in cryptocurrency.
Posted inRegulatory Enforcement
U.K. reins in crypto firms to combat ‘scandal’ of freewheeling finfluencers
Up to 25,000 people a year in the U.K. are illegally promoting financial products or offering financial advice on social media, but none have yet appeared in court, according to the first Treasury Select Committee meeting on the subject of so-called “finfluencers.” Regulated financial services firms must comply with strict guidelines when they promote their products on social media and may be put at risk by unauthorised finfluencers.
Posted inRegulatory Enforcement
A forgotten SEC case against Coinbase returns in a shifting crypto landscape
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down regulatory enforcement on cryptocurrency companies in favor of scaling up mainstream adoption.
Posted inRegulatory Enforcement
SEC Chair Atkins echoes Trump’s promise to make U.S. the ‘crypto capital of the world’
The head of the Securities and Exchange Commission promised new sets of rules around cryptocurrency assets, saying his team intends to lay out regulatory frameworks around custody and “qualified custodians,” as well as guidelines around issuing and trading. The expected move marks the latest step in the U.S. government’s embrace of cryptocurrencies under President Donald Trump, representing a significant shift from his predecessor.
Posted inRegulatory Policy
Court may look skeptically on SEC settlement offer of $50M fine against Ripple Labs
The Securities and Exchange Commission has offered to settle its long-running lawsuit against cryptocurrency firm Ripple Labs for $50 million, the latest in a series of pullbacks by the agency on ongoing crypto lawsuits.
Posted inFinancial Services
NYDFS to continue strong crypto enforcement, Adrienne Harris says
The New York Department of Financial Services (NYDFS), led by Superintendent Adrienne Harris, doesn’t intend to let up on cryptocurrency enforcement, even in the face of pullback from the federal government.
Posted inCryptocurrency and Digital Assets, Regulatory Policy
Senate Democrats urge DOJ to revive crypto crime unit amid growing enforcement concerns
A small band of Senate Democrats is calling on the Trump administration to reinstate the cryptocurrency investigations unit at the Department of Justice (DOJ).
Posted inRegulatory Policy
Trump family buys into crypto as regulators consider soft touch on the industry
Any doubts that the new administration will take a light touch to upcoming cryptocurrency regulation vanished with President Donald Trump’s launch of his own stablecoin and his family’s growing investments in crypto businesses.
