Crypto exchanges Coinbase and BitGo have previously received trust charters from New York’s financial regulator, allowing the firms to offer crypto custody services.
Bank of Israel claims ‘public support’ for its CBDC project
Stakeholders believe that the digital shekel would boost competition, but remain divided on the matter of privacy.
Environmental groups urge US government to take action on crypto miners
Among the proposals, the group of eight organizations requested the Environmental Protection Agency subject PoW mining firms to “stringent reviews” around operating permits.
US Treasury Secretary reaffirms need for stablecoin regulation following UST crash
Janet Yellen said it would be “highly appropriate” to aim for “a consistent federal framework” on stablecoins by the end of 2022 in the U.S., given the growth of the market.
UK government targets crypto in latest legislative agenda
The Queen’s Speech for the State Opening of Parliament included bills supporting “the safe adoption of cryptocurrencies” as well as authority to “seize and recover crypto assets.”
IMF recommends the Bahamas ‘accelerate its education campaigns’ on CBDC
In addition to recommending the financial education of the public in the Bahamas, the IMF hinted at the importance of a “robust supervisory and regulatory framework” for digital assets.
Law Decoded: Crypto retirement plans get hot with Warren and Lummis making their moves, May 2–9, 2022
Last week was marked by reinvigorated discussion on crypto 401(k) among high-profile US policymakers.
Nvidia to pay $5.5M as part of SEC case concerning ‘inadequate disclosures’ around crypto mining
“All issuers, including those that pursue opportunities involving emerging technology, must ensure that their disclosures are timely, complete and accurate,” said Kristina Littman.
El Salvador’s central bank accepts Qredo’s registration to provide crypto services
Registered Bitcoin service providers in El Salvador include Chivo, the firm behind the state-issued crypto wallets and kiosks, Paxos Trust Company, Paxful and OpenNode.
CFTC commissioner appoints crypto-experienced CME Group director as chief counsel
During his time at the CME Group, Bruce Fekrat regulated crypto reference rates and helped in the development of financial products including BTC and ETH derivatives.
France’s financial authority approves Binance’s registration as digital asset service provider
Binance said it would “significantly scale” its operations in France following the registration approval, and planned to expand its team “to pursue further infrastructure development.”
California governor issues blockchain executive order building on US President’s regulatory efforts
“We’re getting ahead of the curve on this, laying the foundation to allow for consumers and business to thrive,” said California Governor Gavin Newsom.
From within: Dubai’s virtual asset regulator plans to open HQ in metaverse
The move came less than two months after Sheikh Mohammed bin Rashid Al Maktoum established VARA and announced a new legal framework for crypto in Dubai.
Dfinity Foundation files lawsuit against Meta over infinity logo
The court filing is based not on Meta’s logo using the infinity symbol itself, but rather registering a trademark for use in fields offering similar goods and services.
EU commissioner calls for global coordination on crypto regulation
Mairead McGuinness said the U.S. and the EU were both moving forward on comprehensive frameworks for crypto, with President Joe Biden’s executive order and the MiCA proposal.
NYDFS calls for crypto firms to use blockchain analytics
The regulatory agency asked crypto firms to adopt methods to ensure greater risk assessment for potentially problematic transactions.
US needs ‘electronic tokens’ with functionality of cash — Software Freedom Law Center legal director
Software Freedom Law Center legal director Mishi Choudhary supported tokens that were not quite CBDCs nor cryptocurrencies, but with cash-like privacy features many users may want.
Panama’s legislature approves bill regulating crypto
The Crypto Law is aimed at making Panama “compatible with the digital economy, blockchain, crypto assets and the internet.”
FinCEN acting director says PATRIOT Act provision isn’t ‘right sized’ for crypto enforcement
Him Das said FinCEN’s current authority under the PATRIOT Act would likely not stop actors from engaging in illicit transactions for ransomware attacks and darknet markets.
Acting OCC comptroller calls for standards on stablecoins
According to Michael Hsu, representatives from the crypto industry as well as within the U.S. government could work toward setting standards on stablecoins.