The Bahamas Securities Commission recently announced the passing of the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024) with the aim of providing regulatory clarity for the country’s digital assets industry. This legislation comes nearly two years after the collapse of FTX, the exchange that was headquartered in the Bahamas in 2022. The goal
Regulation
The world of digital art is facing a legal dilemma as Jonathan Mann and Brian L. Frye take on the US Securities and Exchange Commission (SEC). The dispute revolves around the classification of Non-Fungible Tokens (NFTs) representing digital art as securities under US law. Mann and Frye argue that their unique NFT artworks should not
Goldman Sachs CEO David Solomon recently shared his perspective on Bitcoin, stating that the flagship cryptocurrency could potentially serve as a store of value similar to gold. While Solomon expressed openness to the idea of Bitcoin as a store of value, he maintained a cautious approach towards the digital asset. He emphasized that he does
In a recent speech at the Bitcoin2024 conference in Nashville, former President Donald Trump expressed his support for digital assets and outlined his vision for the US to become a global leader in the crypto space. Trump promised that the US government would not sell the 210,000 Bitcoin it currently holds and would work towards
A recent letter from a group of Democrat politicians has urged the Democratic National Committee (DNC) to reconsider its stance on cryptocurrency and blockchain technology. The letter emphasizes the importance of taking a “forward-looking approach” to these digital assets, highlighting their potential for American innovation, economic growth, and financial inclusion. The Democrats express concern over
Senator Cynthia Lummis recently introduced a new piece of legislation that has the potential to significantly impact the economic landscape of the United States. The bill aims to establish a Bitcoin strategic reserve for the US, with the goal of accumulating at least 1 million BTC, which represents 5% of the total Bitcoin supply. The
President Donald J. Trump has recently made bold promises to make the US a Bitcoin “superpower” and to ensure that the country maintains its lead over competitors like China. In a recent statement, Trump declared that if elected, he would prevent the US government from selling the roughly 200,000 Bitcoin it currently holds, which represents
Two prominent crypto companies, Coinbase and Revolut, recently found themselves on opposite ends of the spectrum when it came to dealing with the UK authorities. The UK’s Financial Conduct Authority (FCA) imposed a fine of £3.5 million ($4.5 million) on CB Payments Limited (CBPL), a subsidiary of Coinbase Group, for violations related to Anti-Money Laundering
The crypto industry has been facing various challenges under the current administration, as discussed by Andreessen Horowitz founders Ben Horowitz and Marc Andreessen. They openly criticized the Biden-Harris Administration’s handling of the cryptocurrency sector, pointing out regulatory hurdles that are hindering innovation and growth. The lack of clear guidance from the Securities and Exchange Commission
Recently, the Russian State Duma passed a bill legalizing Bitcoin mining and allowing the use of cryptocurrency for international trade. This bill, which has been in the works for a few years, is expected to come into effect on September 1st, pending final approval. The legislation aims to address the challenges faced by Russian banks