The Regulatory State #30 - 4/24/22
This week saw the bluest of blue chip crypto protocols playing ball with federal regulators as they move quickly to comply with traditional banking regulations and fit within regulatory guardrails.
BlockFi's Flori Marquez says the company is readying the first regulated crypto yield product in the US — and shares what the $10 billion crypto finance firm learned from working with the SEC (Business Insider)
Circle Will Apply for U.S. Crypto Bank Charter in ‘Near Future’ (Bloomberg)
FTX Plan Said to Face CFTC Roundtable Next Month (CoinDesk)
Crypto Lender Celsius Says Its CEL Token Faces ‘Regulatory Risks’ (CoinDesk)
OCC Finds Anchorage Digital Failed to Maintain Proper AML Rules (CoinDesk)
Ripple and XRP Lawsuit Face ‘Worst-Case Scenario’ As SEC Moves to Delay Case: Crypto Legal Expert (Daily Hodl)
New York, New York…is the sandbox for state mining legislation as state legislators target mining bans motivated by environmental concerns. The same concerns driving federal legislation and enforcement in the wake of the Russia/Ukraine conflict.
New York Is Battleground for Crypto Mining Fight (WSJ)
US House Democrats Call for Scrutiny on Crypto Mining as Environmental Threat (CoinDesk)
BitRiver Calls OFAC Sanctions ‘Unfair’ Anti-Competitive Move to Benefit US Miners (CoinDesk)
Sweden, EU Discussed Bitcoin Proof-of-Work Ban: Report (CoinDesk)
BTC Spot ETF wen? Last week, never. This week, back on track for summer…
Optimism for US Spot Bitcoin ETF Grows With Approval of Teucrium Futures Fund (CoinDesk)
Grayscale Renews Push With SEC for Bitcoin Spot ETF (Decrypt)
Australia Gets Go-Ahead to List Country’s First Bitcoin ETF Next Week (Blockworks)
Binance.US is cleaning up its act in order to scale into the US market, standing up its own lobbying arm and receiving a money transmitter license in Puerto Rico.
Binance.US Quits Blockchain Association, Forms In-House Lobbying Shop (CoinDesk)
Crypto Exchange Binance.US Secures Money Transmitter License in Puerto Rico (Blockworks)
Binance To Limit Services to Russians Following Latest Round of EU Sanctions (Blockworks)
Regulatory parity continues to swing from alarming to supportive, from the EU to the Pacific, with recent hacks coming out of North Korea accelerating scrutiny.
EU Crypto Firms Protest ‘Alarming’ Anti-Money Laundering Laws (CoinDesk)
Crypto Thieves Get Bolder by the Heist, Stealing Record Amounts (WSJ)
Japan to Model Digital Yen Tests on Sweden’s Approach, Not China’s (Bloomberg)
Australia's Financial Regulator Aims to Implement Crypto Regulation by 2025 (CoinDesk)
U.S. hasn’t stopped N. Korean gang from laundering its crypto haul (Washington Post)
Caribbean and Latin American countries continue to lean into digital asset regulatory frameworks and move away from the dollar peg.
Bahamas to Allow Citizens to Pay Taxes With Digital Assets (CoinDesk)
Argentina Moves to Incubate Crypto Startups Under Regulatory Eye (Blockworks)
Panamanian Legislative Assembly’s Committee Approves Bill Regulating Crypto (CoinDesk)
Both sides of the Russia/Ukraine conflict are looking to contain capital flows, slow velocity, and ramp up revenue sources.
Ukraine's Central Bank Bans Crypto Purchases in Local Currency (CoinDesk)
Russian Crypto Bill Amendment Targets Mining, Trading (Blockworks)
The information above does not constitute an offer to sell digital assets or a solicitation of an offer to buy digital assets. None of the information here is a recommendation to invest in any securities.