David Hirsch, the head of the SEC’s Crypto Asset and Cyber Unit in the Division of Enforcement, has officially announced his departure from the agency after almost nine years of service. During his time at the SEC, Hirsch oversaw a multitude of crypto cases, leaving a significant mark on the agency’s enforcement efforts in the
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The concept of asset tokenization in the financial sector has been gaining traction in recent years as a way to revolutionize securities and asset management. SEC commissioner Mark Uyeda, in a recent statement, highlighted the potential benefits of asset tokenization, emphasizing the advantages of representing asset rights with digital tokens on a blockchain. Uyeda pointed
The European Banking Authority (EBA) recently released comprehensive guidelines focusing on recovery plans for issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs) under the Markets in Crypto-Assets (MiCA) regulation. This new framework is crucial for maintaining compliance with regulatory standards and ensuring the stability of the crypto-asset market in the EU. The guidelines introduced
The Chairperson of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, recently expressed his confidence in the agency’s ability to take on more responsibilities related to cryptocurrencies. During a hearing before the Senate Committee on Appropriations, Behnam dismissed concerns that the CFTC would be overwhelmed by expanding its authority to include crypto commodities. He emphasized
The recent report released by the EU Innovation Hub for Internal Security sheds light on the significant impact that cryptocurrencies are having on law enforcement efforts. One of the key findings of the report is the increasing difficulty for authorities to track and recover illicit digital assets that are being moved through decentralized methods like
As risk assets in the financial sector face mounting vulnerabilities, experts are turning their attention to Bitcoin (BTC) and the potential impact of economic factors on the cryptocurrency. The recent release of stronger-than-expected jobs data by U.S. authorities has cast a shadow over risk assets, including BTC. The concern stems from the possibility that the
Bitcoin, the leading cryptocurrency, has shown significant price volatility in recent days. Despite the continuous inflows into US-based ETFs, the price of Bitcoin plummeted by more than three thousand dollars in just a few hours. This sudden drop has raised questions about the factors influencing Bitcoin’s price movements, particularly in the context of the approval
A group of U.S. lawmakers, spearheaded by House Foreign Affairs Committee Chair Michael McCaul (R-Texas), has urgently called on President Joe Biden to intervene in the detention of Tigran Gambaryan, a senior executive at Binance. Gambaryan has been held by Nigerian authorities for nearly three months, and the situation is escalating into what the lawmakers
In the midst of a turbulent regulatory environment, Binance Coin, the native token of the world’s largest cryptocurrency exchange, has managed to defy the odds and emerge as a top performer in the market. Despite facing legal battles in multiple jurisdictions, including an ongoing dispute with Nigerian authorities and a hefty settlement deal with the
The recent hack on the Japanese cryptocurrency trading platform, DMM Bitcoin, resulted in a significant loss of Bitcoin amounting to around $305 million. The exchange confirmed the attack and disclosed that 4,502.9 bitcoins were stolen from their systems. Despite stating that they are investigating the breach and implementing measures to prevent such incidents in the