In a rather surprising development, the SEC issued a waiver allowing Ripple to sell securities to private investors. This directly contravenes Judge Torres’ rulings in the XRP case’s lengthy cross-appeals process. Legal experts seemed dumbfounded by the move, but acknowledged that there isn’t a clear way to stop it. Ripple will probably have a new…
Bo Hines, executive director of President Donald Trump’s White House Crypto Council, has announced his departure to return to the private sector. Key Takeaways: Bo Hines is stepping down as executive director of the White House Crypto Council. During his tenure, the council advanced US crypto policy but fell short on its strategic Bitcoin reserve…
President Trump has nominated Stephen Miran, current chair of the Council of Economic Advisers, to the Federal Reserve Board of Governors. The crypto-friendly economist will replace Adriana Kugler in a temporary role through January 2026. This move signals potential shifts toward lower rates and crypto-supportive monetary policy. Miran’s Strong Pro-Crypto Stance Miran has been vocal…
The long-running legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) is officially over. On August 7, both parties filed a Joint Stipulation of Dismissal with the US Court of Appeals for the Second Circuit, confirming the withdrawal of their respective appeals. SEC Dismisses Appeals Against Ripple According to court documents,…
President Trump signed two crucial executive orders regarding the crypto industry today. One centers on preventing debanking, while the other allows cryptoassets to be included in retirement portfolios like pensions or 401(k)s. These measures both seem likely to encourage further institutional investment in this sector. Trump’s New Executive Orders Explained Since taking office, President Trump…
The New York Department of Financial Services (NYDFS) has imposed a $48.5 million penalty on Paxos as part of its enforcement action against the stablecoin issuer, according to an Aug. 7 announcement. The settlement includes a $26.5 million civil monetary fine and mandates Paxos to spend an additional $22 million over three years to strengthen…
SEC Commissioner Caroline Crenshaw blocked a fast approval process on several crypto ETF products. Specifically, she delayed several new applications and dissented on options trading, basket ETFs, and more. In other words, the Commission will need a full vote to approve such measures, and more delays are likely. Atkins and the other pro-crypto Commissioners can…
India’s tax authorities have uncovered nearly 630 crore rupees (approximately $72 million) in undisclosed income from crypto-related transactions, according to an Aug. 5 disclosure by Pankaj Chaudhary, the Minister of State for Finance. The minister, citing figures from the Central Board of Direct Taxes (CBDT), stated that the numbers reflect discrepancies in tax filings tied…
China is closely monitoring stablecoin developments while using Hong Kong as a testing ground for digital currency innovation. Financial regulators have intensified discussions on stablecoin strategies, emphasizing compatibility with national conditions and capital control concerns. China’s Cautious Stablecoin Strategy Chinese financial regulators recently summoned cryptocurrency experts to discuss stablecoin trends and implementation strategies, the Financial…
In the landmark “US vs Roman Storm” case, the Tornado Cash founder was found guilty of conspiracy to run an unlicensed money transmittal business and innocent of others. This case has been a landmark battle for privacy rights and the decentralized nature of crypto. Roman Storm argued that he wasn’t responsible for other actors’ usage…