A second Trump administration is likely to elevate the crypto sector — both in the United States and overseas — informed market observers told Cointelegraph in the aftermath of the Nov. 5 presidential election. It raises the odds for digital asset market structure legislation, and will probably bring along a stablecoin payment act as well.
Regulation
The crypto arm of venture capital firm Andreessen Horowitz (a16z) said there will be “greater flexibility to experiment” as the regulatory landscape for crypto improves in the United States following the Nov. 5 elections. “While we’ll likely have greater flexibility to experiment, we can’t forget that the fundamental regulatory principles applicable to blockchain systems remain
Elon Musk appeared to support a call to end the Federal Reserve Bank in the United States after reposting a tweet from Utah Senator Mike Lee — who called for greater executive oversight over monetary policy and abolishing the central bank. Lee argued that Federal Reserve Chair Jerome Powell’s recent assertion that he would not
The Coinbase-backed crypto advocacy group Stand With Crypto has expanded to Australia as part of a broader move to push for regulatory clarity and crypto-friendly policy in the country. Tom Duff Gordon, vice president of international policy at Coinbase, said the overarching goal of the new offshoot of Stand With Crypto is to bring political
ARK Invest founder and CEO Cathie Wood expects that a “changing of the guard” at the United States Securities and Exchange Commission may turbocharge the economy and bring about an influx of innovation and investment in emerging technologies. “Deregulation, defanging the SEC, FTC, and others, government spending cuts, tax cuts, and a focus on technologically
Alameda Research filed a lawsuit against Aleksandr Ivanov, founder of Waves, as part of its ongoing legal strategy to recover crypto assets. The trading arm of the bankrupt FTX exchange is aiming to recoup at least $90 million of digital assets from Waves, according to a Nov. 11 court filing. In March 2022, Alameda Research
Cryptocurrency exchange Gemini filed an adversary proceeding against bankrupt crypto lender Genesis Global Holdco in the Southern District of New York Bankruptcy Court on Oct. 27. At issue is the fate of 62,086,586 shares of Grayscale Bitcoin Trust (GBTC). They were used as collateral to secure loans made by 232,000 Gemini users to Genesis through the
Ripple CEO Brad Garlinghouse strongly criticized former United States Securities and Exchange Commission (SEC) Chair Jay Clayton’s remarks regarding the agency’s regulatory approach. Since the first quarter of 2023, the SEC has initiated various regulatory actions against crypto exchanges and companies. During an interview with CNBC on June 29, 2023, Clayton expressed his view that
Top Stories This Week Sam Bankman-Fried takes the stand on FTX’s collapse Sam “SBF” Bankman-Fried testified this week in his ongoing criminal trial in the Southern District of New York, denying any wrongdoing between FTX and Alameda Research while acknowledging making “big mistakes” during the companies’ explosive growth. Highlights of his testimony include denying directing
Kraken will suspend all transactions related to USDT, DAI, WBTC, WETH, and WAXL in Canada in November and December, according to multiple customer emails shared with Cointelegraph. In response to a request for comment from Cointelegraph, a Kraken spokesperson said, via email, “we constantly monitor the assets on our platform to ensure we are meeting
Stuart Alderoty, the chief legal officer of Ripple Labs, as well as members of the XRP (XRP) community, have expressed their support on X (formerly Twitter) for United States Securities Exchange Commission (SEC) Commissioner Hester Peirce’s stance against perceived “injustice” in the LBRY lawsuit. Alderoty thanked Peirce and suggested that when ongoing injustices occur in non-fraud
Hester Peirce of the United States Securities and Exchange Commission (SEC) has issued a dissenting opinion on the regulator’s lawsuit against blockchain firm LBRY. In an Oct. 27 statement, Peirce described feeling “unsettled” following the SEC’s enforcement action against LBRY in March 2021. In November 2022, a judge ruled in favor of the SEC, stating
Sam “SBF” Bankman-Fried’s defense attorney Mark Cohen heard testimony from the former FTX CEO on his relationship with Caroline Ellison and political donations from the crypto exchange. According to reports from the courtroom on Oct. 27, Bankman-Fried claimed not to have discussed donations to U.S. politicians with former FTX engineering director Nishad Singh and former
The Presidential Annual Programm for 2024, published on Oct. 25 in Turkey’s Official Gazette, sets an aim to finalize the crypto regulations in the country within the following year. Article 400.5 of the almost 500-page document reveals the planned studies to define crypto assets, which might be properly taxed afterward. The crypto asset providers, i.e.,
Our weekly roundup of news from East Asia curates the industry’s most important developments. Largest money laundering scandal in Australia unravels Changjiang Currency Exchange, a money transmitter business based in Australia, has beenbustedin a $145 million ($230 million Aussie dollar) money laundering scandal. On October 26 a 300-strong police operation spanning Melbourne, Sydney, Brisbane, Adelaide,
Former FTX CEO Sam “SBF” Bankman-Fried addressed a New York courtroom under oath without the 12-member jury present. According to reports from the courtroom on Oct. 26, SBF’s highly anticipated testimony kicked off with defense attorney Mark Cohen questioning the former FTX CEO on his use of the messaging app Signal and retention of communications