CFTC Proposes Reducing Anonymity to Manage Risks
The commissioner of the Commodity Futures Trading Commission (CFTC), Christy Goldsmith Romero, has proposed reducing the anonymity of cryptocurrencies as a means of managing the risks associated with digital assets. The statement was made during the keynote speech on Illicit Finance and Other Key Risks of Digital Finance at City Week 2023 in London on April 25.
Crypto Native Payroll Processor Rise Works Closes Seed Round Led by Sino Global Capital and Polymorphic Capital
Crypto-native payroll processor Rise Works has closed its seed round, co-led by Sino Global Capital and Polymorphic Capital, and featuring investors such as Draper Associates and Hashkey Capital. Rise Works offers a "web3-enabled payroll & compliance solution" for decentralized organizations, including crypto staking specialist Lido.
The Shanghai Upgrade Could Spark Decentralization In Staking As Big Guns Are Forced To Step Back
The recently implemented Shanghai upgrade in the Ethereum blockchain allows validators to access their staked assets and rewards. However, the SEC and CFTC are increasing their scrutiny of the staking arm of digital asset companies, leading to concerns about centralization. Over 30% of staked ETH is facilitated by exchanges, but regulatory actions against Kraken, Coinbase, and Binance regarding their staking activities have raised concerns. Some commentators argue that the SEC's actions are attempting to make staking completely decentralized, where users deal directly with the protocols without staking pools.
CFTC Adviser Chris Perkins Says U.S. Risks Falling Behind in Crypto
Chris Perkins, President of crypto-focused VC CoinFund and adviser to the Commodities and Futures Trade Commission (CFTC), has published a regulatory white paper warning that the US is at risk of falling behind in cryptocurrency.
The Digital Currency Monetary Authority (DCMA) Unveils its Whitepaper for an International Central Bank Digital Currency (CBDC)
CBDCs are legal tender regulated by central banks whereas Universal Monetary Unit is a money commodity regulated by the U.S. Commodities Futures and Trade Commission (CFTC).
CFTC Chair Says Binance Intentionally Broke Rules Concerning Futures, Commodities
Rostin Behnam, Chairman of the Commodity Futures Trading Commission (CFTC), recently spoke out about the allegations levied against Binance, claiming that the beleaguered cryptocurrency exchange’s leadership knowingly operated outside of U.S. laws governing the exchange of commodities and futures.
Binance Deliberately Broke the Law, Says CFTC Leader
CFTC Chairman Rostin Benham has accused Binance of purposefully breaking regulatory rules, Bloomberg reported.
Crypto Evening Briefing: Crypto Regulation by Enforcement Is ‘Really, Really Bad,’ Says Binance CEO
Binance CEO Changpeng Zhao has said that regulation, rather than lack of clarity, is a better option for the crypto industry. However, he added that regulation by enforcement is bad.
CFTC Defines Bitcoin, Ethereum, and USDC as Commodities in Latest Crypto Fraud Case Against Deutsche Bank Investment Banker
The CFTC has filed a civil enforcement action against former Deutsche Bank investment banker Rashawn Russell for digital asset trading fund fraud and misappropriation of investor assets.
Bank of America and Fidelity Hold MicroStrategy Shares, Indicating Institutional Interest in Indirect Bitcoin Exposure
Bank of America and Fidelity held significant numbers of MicroStrategy shares on their balance sheets in the first quarter, suggesting continued institutional interest in indirect bitcoin exposures.
