Regulation
New York’s Crypto Regulator Publishes Formal Stablecoin Guidance
NYDFS laid out strict reserve and attestation requirements for stablecoin issuers in an effort to better protect consumers and financial institutions.
PayPal Converts Conditional Virtual Currency License to Full BitLicense
The payments giant announced it would let users withdraw their crypto holdings to their own wallets earlier today.
US Justice Department Urges More Coordination to Combat Crypto Crime
A new report from the Justice Department responds to this year’s executive order from President Joe Biden, marking some of the first recommendations produced by the order.
US Regulators Investigating Binance’s BNB Token: Report
The SEC is looking into whether the crypto exchange should have registered the initial coin offering of Binance coin as a security, according to Bloomberg.
Environmentalists Target Greenidge as They Turn Up Pressure on NY Governor to Sign Mining Moratorium Bill
A moratorium on new PoW mining projects that use behind-the-meter fossil fuel energy is now on the NY governor's desk.
US Labor Department Sued After Warning 401(k) Providers About Allowing Crypto Investments
The plaintiff, 401(k) provider ForUsAll, is concerned the guidance sets a “troubling precedent” that could lead to a slippery slope of future bans.
DOJ Charges Former OpenSea Exec With NFT Insider Trading
Former OpenSea staffer Nate Chastain was charged on June 1 with wire fraud and money laundering after trading on confidential information about which NFTs were about to be featured on OpenSea. It’s the first DOJ has pursued an “insider trading” charge involving digital assets.
Coinbase Doesn’t Offer Liability Protection, but That’s No Reason to Panic
The crypto exchange's announcement last month is a sign of regulatory progress to come, according to one institutional investor.
South Korean Government to Form Digital Assets Committee in Response to Terra Collapse: Report
The committee will provide criteria for the listing of coins by exchanges, introduce investor protections and monitor unfair trading.
DeFi Ledgers Can Help Regulators Oversee Sector, BIS Official Says
A new BIS working paper makes a case for "embedded supervision" that argues regulatory oversight can be built into seemingly untamable decentralized finance systems.
