regulation | ForkLog

ForkLog 20 17.01.2025

US Treasury nominee opposes a CBDC

Scott Bessent, the nominee for US Treasury secretary, spoke out against introducing a CBDC. “I do not see any point for the United States to have a central bank digital currency. In my opinion, a CBDC is intended for countries that have no other investment alternatives,” he said at a Senate hearing. Bessent — co-founder […]

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ForkLog 15 17.01.2025

Cynthia Lummis accuses FDIC of hiding crypto-oversight documents

The Federal Deposit Insurance Corporation (FDIC) could face criminal prosecution if it did in fact destroy documents related to crypto oversight, according to a letter from Wyoming senator Cynthia Lummis. The FDIC is attempting to hide Operation Chokepoint 2.0 and the FDIC must preserve all documents related to digital assets immediately. Tim Scott and I […]

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ForkLog 21 15.01.2025

CFTC set to weigh probe into Crypto.com’s sports-betting futures

CFTC has questioned the legality of Crypto.com’s futures contracts that let users wager on sports events, Bloomberg reported, citing anonymous sources. The five commissioners are to vote on whether to open a 90-day probe into potential breaches of gambling laws. A Crypto.com representative told Bloomberg the agency had not notified the company of its plans. […]

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ForkLog 43 15.01.2025

Gary Gensler says he ‘never called’ bitcoin or Ethereum securities

The SEC has never asserted that bitcoin or Ethereum are securities, outgoing chair Gary Gensler told Yahoo Finance. Reporter Jennifer Schonberger noted that this status even became the subject of legal proceedings during the approval of spot crypto ETFs. She also asked whether Gensler had wanted a different outcome on the applications. “My predecessor [Jay […]

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ForkLog 25 13.01.2025

Trump weighs crypto advisory council of “two dozen” CEOs, Bloomberg reports

Donald Trump’s administration is considering candidates for a cryptocurrency advisory council drawn from the chief executives of key industry firms, Bloomberg reports, citing anonymous sources. The council is expected to begin work after Trump’s inauguration in late January. It would include “two dozen” selected industry representatives, who could influence administration decisions and help lawmakers develop […]

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ForkLog 36 13.01.2025

Indian crypto exchange Mudrex temporarily suspends crypto withdrawals

Indian crypto exchange Mudrex warned users of a temporary suspension of crypto withdrawals, the company said in a blog post. “To enhance the security of our platform and protect it from bad actors, we have decided to temporarily suspend cryptocurrency withdrawals until 28 January 2025,” Mudrex said. The exchange attributed the move to upgrades needed […]

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ForkLog 8 10.01.2025

Bybit suspends services in India

The cryptocurrency exchange Bybit warned of temporary restrictions for users in India. They take effect on 12 January. According to the notice, clients will be unable to open accounts, trade cryptocurrencies or use other products. The firm said the move reflects its desire to operate “in full compliance with all applicable rules and regulations”. “In […]

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ForkLog 65 10.01.2025

CFTC seeks Coinbase customer data in Polymarket probe

Coinbase warned users that it had received a request from the CFTC for customer data, Ethereum commentator Eric Conner reported. Biden’s CFTC is subpoenaing customer info from @coinbase in their case against @Polymarket pic.twitter.com/YlCdUPwHs7 — eric.eth (@econoar) January 8, 2025 According to the exchange, the Commission issued a formal demand to disclose “general information” on […]

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ForkLog 46 10.01.2025

Cynthia Lummis to chair Senate subcommittee on digital assets

The US Senate Banking Committee has preliminarily approved Senator Cynthia Lummis to chair the subcommittee on digital assets. Senate Banking subcommittee on digital assets has the following GOP members, per internal planning doc: Lummis (Wyo)- ChairMoreno (Ohio)Tillis (NC)Hagerty (Tenn)McCormick (Pa.) — Brendan Pedersen (@BrendanPedersen) January 9, 2025 The panel will also include several crypto-friendly lawmakers […]

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ForkLog 66 08.01.2025

Fidelity says national adoption of bitcoin will spur crypto markets in 2025

In 2025, the first cryptocurrency is expected to be added to the strategic reserves of several countries, a development that would give a significant lift to the digital-asset market, according to a report by Fidelity Digital Assets. “More and more governments, central banks, sovereign wealth funds and treasuries are seeking to take strategic positions in […]

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ForkLog 18 31.12.2024

USDT Market Capitalisation Declines Amid MiCA Implementation

On December 30, the EU’s MiCA regulation for digital assets came into effect. The market capitalisation of the leading stablecoin USDT declined from over $141 billion in mid-month to approximately $137.5 billion. The new rules impose stringent requirements on stablecoin issuers, including licensing, reserve standards, and liquidity norms. Agne Linge from WeFi commented to The […]

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ForkLog 70 30.12.2024

Malaysia Prohibits Bybit’s Operations

The Securities Commission of Malaysia (SC) has accused the bitcoin exchange Bybit of operating without a license and ordered it to cease all operations by December 25. In compliance with the requirements, the trading platform has disabled its website, mobile applications, halted advertising in the country, and closed its Telegram support group for Malaysians. The […]

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