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…
Tennessee Senator Marsha Blackburn announced her candidacy for Governor today. A prominent crypto advocate, her victory could spell a new initiative for a local Bitcoin Reserve. Blackburn supported a national Bitcoin Strategic Reserve bill and has co-sponsored other proposals, like the GENIUS Act. She has spoken at industry events in the state, and her campaign…
Ripple Labs has urged the US Senate to revise its proposed crypto legislation, warning that the current draft introduces more confusion than clarity. The blockchain firm submitted its response on Aug. 5, addressing concerns about regulatory overreach and vague definitions that could stifle innovation across the digital asset space. The comments come in response to…
China’s Ministry of State Security (MSS) has warned that a foreign crypto company is collecting iris scan data under the guise of token distribution, raising serious concerns about personal and national security. In an Aug. 5 statement, the ministry revealed that the firm is gathering iris data from users worldwide and transmitting it to an…