Coinbase Global Inc., Gemini Trust Co. and Robinhood Markets Inc. are among firms helping to build a platform to comply with a U.S. money-laundering rule as crypto and financial-technology companies seek to satisfy existing requirements and head off stricter oversight. A group of 18 companies is setting up the platform to help meet conditions of […]

The US Securities and Exchange Commission (SEC) has reportedly launched an investigation into the crypto exchange giant Binance’s US arm regarding trading firms connected to Binance CEO Changpeng Zhao. According to a recent report from the Wall Street Journal, the SEC is looking into the relationship between Binance.US and trading firms Sigma Chain AG and […]

Switzerland’s largest bank, UBS, expects the United States Congress to take a long time to pass cryptocurrency legislation despite mounting interest in crypto investments and regulators calling for Congress to weigh in on crypto legislation. Congress Could Take a Long Time on Crypto Legislation The largest bank in Switzerland, UBS, published its view on U.S. […]

The Commodity Futures Trading Commission (CFTC) has stated that it should be the primary body in charge of overseeing cryptocurrencies. According to Gensler, he and his staff are working to safeguard investors by better regulating the hundreds of new digital assets and currencies and overseeing the more well-known bitcoin and ether markets. For years, Wall

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US Securities Exchange Commission (SEC) Chief Gary Gensler said that the securities regulator is working with the Commodity Futures Trading Commission (CFTC) over crypto guidelines. What’s more, he also said that to ensure investor protection, the SEC is ‘trying to work with different crypto platforms, exchanges, lending platforms.’ In an interview with Bloomberg, SEC Chairman […]

SEC Chief Gary Gensler today said that the securities regulator is working together with the Commodity Futures Trading Commission (CFTC) over crypto guidelines. What’s more, he also said that to ensure investor protection, the SEC is ‘trying to work with different crypto platforms, exchanges, lending platforms’. In an interview with Bloomberg, SEC Chairman Gary Gensler

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The chairman of the US Securities and Exchange Commission (SEC), Gary Gensler recently stated that the regulatory agency is working with the Commodity Futures Trading Commission (CFTC) on regulating cryptocurrencies. Appearing in an interview with Bloomberg this week, SEC Chief Gary Gensler was asked on the state of crypto regulation in the US to which he replied “We do have a broad agenda and crypto is part of that agenda.” To make this possible, the securities regulator is working with the American derivatives market regulator, Commodity Futures Trading Commission (CFTC). “We are going to work with the Commodity Futures Trading Commission (CFTC) where there are some commodity tokens. While many of these are securities, some may be under their remit. We work together as two federal agencies,” Gensler added. On Wednesday, the Wall Street Journal reported that the Chairman of the Commodity Futures Trading Commission, Rostin Behnam called out lawmakers to grant the agency authority to regulate cryptocurrencies as such assets are in great need of protection, according to him. Behnam is of the view that the Congress should pass a law that would allow CFTC to regulate certain types of cryptocurrencies while providing funding to conduct additional oversight. Currently, the agency is limited to only regulating derivatives. According to him, such legislation would aim to fill a regulatory gap, as some types of cryptocurrency fall outside the jurisdiction of the federal government’s including the Securities and Exchange Commission (SEC). Behnam’s appeal came just a day after the US Justice Department seized over $3.6 billion worth of Bitcoin stolen during the hack of Bitfinex cryptocurrency exchange, its largest financial seizure ever.

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