22 Sep 2022

Is Ether A Security? How The Merge Reignited Questions Around Crypto Regulation

As the Ethereum merge fades into the background, and even the potential disruption caused by the ETHPoW has seemed to fizzle out, several questions have come back to forefront; how should crypto be regulated? Which regulatory agency should have the authority to decide this, and how will said regulation come

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21 Sep 2022

Asic bolsters its cryptocurrency team and looks to regulate more digital assets

The Australian Securities and Investments Commission has bolstered it cryptocurrency team as it looks to regulate more digital assets by classifying them as financial products, a move that would make selling them to Australians more difficult. Asic has yet to decide whether to classify Ethereum, the second most popular cryptocurrency after

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20 Sep 2022

The Biden‐​Cryptocurrency Reports: Implications for Consumers, Investors, and Businesses

The reports mandated by President Biden’s March executive order are here and seek to offer a comprehensive framework for the responsible development of digital assets (commonly known as cryptocurrencies). As noted early after the release, however, many of the items were left to be determined. But that doesn’t mean that

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19 Sep 2022

Ethereum Plunges After SEC Chair Says ‘The Merge’ Could Make Crypto a Security

Ethereum, the second largest cryptocurrency in the world, continued to plunge in price over the weekend following the network’s highly publicized technical change known as ‘the Merge’ last Thursday as well as comments from the head of the Securities and Exchange Commission that ether might need to be a treated

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19 Sep 2022

The future of cryptocurrencies

Cryptocurrencies have suffered a hard beating over recent months. For example, the U.S. dollar/Bitcoin exchange rate fell from almost $70,000 in early November 2021 to below $20,000 in late June and, despite ups and downs, dipped to $19,733 on September 15. Historically, Bitcoin – by far the most popular form of

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17 Sep 2022

FACT SHEET: White House Releases First-Ever Comprehensive Framework for Responsible Development of Digital Assets

The digital assets market has grown significantly in recent years. Millions of people globally, including 16% of adult Americans, have purchased digital assets—which reached a market capitalization of $3 trillion globally last November. Digital assets present potential opportunities to reinforce U.S. leadership in the global financial system and remain at

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16 Sep 2022

White House Releases ‘Comprehensive Framework’ for Crypto Regulation and Development

The White House has today released a “First-Ever Comprehensive Framework for Responsible Development of Digital Assets” outlining the conclusions and recommendations of various federal agencies after six months of studying the crypto industry. The directive to research crypto was given in President Biden’s executive order, signed in March this year. Like

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15 Sep 2022

Investors say regulation needed to assuage crypto concerns

Though many public pension funds have shied away from digital assets tied to cryptocurrencies and the blockchain, some are nevertheless moving forward with small investments in this potentially transformational yet volatile sector. Last year, for example, the $5.3 billion Houston Firefighters’ Relief and Retirement Fund decided to establish a $25 million

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13 Sep 2022

SEC Chair Stands Firm: ‘Vast Majority’ of Cryptocurrency Tokens Are Securities

In prepared remarks delivered at the Practising Law Institute’s “SEC Speaks” program on September 8, Chair Gensler emphasized and reiterated his long-standing position that the vast majority of cryptocurrency tokens are securities, and he noted that “only a small number of tokens, even though they may represent a significant portion

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08 Sep 2022

SEC Chair Gary Gensler Backs Giving CFTC Bitcoin Oversight

At an industry conference today, Securities and Exchange Commission (SEC) chief Gary Gensler said that he supports handing the Commodity Futures Trading Commission (CFTC) the power to “oversee and regulate crypto nonsecurity tokens and related intermediaries.” Gensler stressed that should Congress give the CFTC prime oversight over crypto, his own

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