CRYPTO POLICY

Mark Cuban is convinced that both Joe Biden and Donald Trump have no deep understanding of the crypto sector, but he believes the incumbent President has more to lose in the upcoming election, and it could be because of the way SEC chief Gary Gensler has treated the crypto sector.

The SEC has decided to shut down its Salt Lake City office – where top lawyers in the regulator's Debt Box case were based – later in the year after experiencing "significant attrition."

Coinbase is rallying the crypto industry to support pro-crypto candidates, as it believes electing such candidates is the best way so far to get regulatory clarity for an industry whose request for clear crypto rules has been ignored by the SEC.

The support of 71 Democrats who voted Yes for FIT21 should be a "wakeup call" to senators and push them to also pass the bill so the digital assets can finally have a regulatory form, Rep. Patrick McHenry said.

The SEC is "already stretched" after it approved spot ETH ETFs, and this could mean there won't be further crypto ETF approvals anytime soon, a financial expert said.

The House – with significant support from Democrats – has passed FIT21, which could be the first step toward providing the crypto industry with a clear regulatory path forward.

Ripple's Alderoty has once again slammed Gensler for his leadership and the regulatory approach of the SEC toward digital assets, but this time, he pointed out how the SEC chief has become a political liability amid increasing Congress scrutiny.

Some Democrats, including digital assets skeptics, have voiced support for FIT21, a largely Republican-backed bill that could establish clear regulatory guidelines for the crypto industry.

The Senate has followed suit after House members voted in favor of Rep. Flood's resolution revoking SAB 121, which has been at the center of criticism from the crypto industry.

After Hong Kong, France's securities regulator has now released a warning notice to the public regarding ByBit, reiterating that the crypto exchange is not authorized to operate in the country.

NotWifGary is a new memecoin that will launch on Linea, and was established to represent the Ethereum community's resistance to the SEC's regulatory crackdown.

Cuban has criticized the SEC for pushing its "one size fits all" regulatory approach for the cryptocurrency industry, saying the regulator didn't pick up any lessons from the collapse of early crypto exchange Mt. Gox.

The U.S. president's campaign team may want to change its campaign strategy heading into the November 2024 elections, Uniswap's Hayden Adams said, considering how Republicans have already apparently grasped the situation regarding the crypto community's relevance as a voting group.

President Joe Biden will veto a resolution passed Wednesday by the House that strikes down the SEC's SAB 121, which requires crypto custody service providers to hold customer's digital assets on their balance sheets.

Gensler, seemingly unmoved by calls for him and the SEC to be held accountable for "misleading" statements regarding Ether's status as a security or a commodity, once again dodged a direct question regarding the world's second-largest cryptocurrency.

The CFTC's Rostin Behnam has once again warned that the public's interest in digital assets only indicates the immediate need for regulations that should protect investors from "fraud and manipulation."

Following OKX's recent delisting of USDT pairs in Europe, the exchange has halted its services in India due to "local regulations," urging users to withdraw their funds by the end of April.

OKX, the world's fourth largest crypto exchange by trading volume, has delisted Tether pairs in Europe months ahead of the MiCA's adoption.

Nigeria's securities regulator now wants companies that want to operate as a digital platform in the country to pay up over $95,000 to register the business – and that's on top of other fees in the registration process lineup that crypto firms need to pay so they can do business in the country.

Taiwan will introduce a new digital assets draft law later this year as the self-governing island looks to regulate what the territory's finance regulator chief said is a "quite risky and speculative" sector.

Virginia has yet to reach the crypto-friendly levels of Colorado, Wyoming, and other U.S. states considered to have business-centric crypto ecosystems, but it is moving steadily toward embracing the sector.

Janet Yellen will urge lawmakers on Tuesday to pass legislation that will establish the regulatory framework for crypto regulation, including rules for stablecoins and spot markets.

South Korea, which previously warned local securities firms against brokering spot Bitcoin ETFs from the U.S., is expected to discuss the matter with the SEC chief Gary Gensler this year.

The nine Bitcoin ETFs collectively achieved a combined volume of $994.1 million, nearly doubling the flow observed in GBTC at $570 million.

November stood out as the month with the highest reported losses last year, totaling $363,367,327 from 45 incidents.

Bitcoin demonstrated resilience by establishing stability within the $39,000 to $40,000 range and showcased its bullish strength Friday when it saw a notable surge, closing at the $42,000 mark.

Charles Schwab's position may soon change, as it could be currently evaluating the strategic advantage of entering the market as a second mover in a space where many competitors raced to be the first, Bloomberg Intelligence analyst Eric Balchunas said.

"The need for federal legislation over cash market digital assets has never been more critical, and I will continue my call for action," the CFTC chair said.

When Vanguard made the decision to exclude the new Bitcoin ETFs from its extensive trading platform, the hashtag #BoycottVanguard quickly gained traction on the social media platform X (formerly Twitter). However, instead of yielding to the pressure, Vanguard reaffirmed its stance and remained resolute in its decision.