Hong Kong is asking banks to accept crypto clients more
The Central Bank of Hong Kong has specifically asked banks under it to help crypto firms by providing financial services. It wants the banks to work well with “virtual asset service providers” by providing them with fiat ramps and similar services.
Hinman documents released: the end of SEC authoritarian regulation as we know it
Hinman documents are internal messages from regulators tied to SEC on ex-director Bill Hinman’s infamous 2018 speech. The documents include emails, his speech and messages pointing to discussions about the crypto industry, regulation approaches and its relevancy in the U.S.
Binance.US and SEC to negotiate and avoid total asset freeze
Binance.US wins in court as U.S. District Judge Amy Berman Jackson orders SEC to negotiate and not freeze the exchange’s assets. Judge Berman has asked the two entities to reach a compromise claiming that extreme measures like the freezing of Binance.US assets are not necessary.
Market manipulation could be possible; U.S. lawmakers file a bill to eject SEC chairman
With market manipulation possibility in mind, U.S. lawmakers have filed a bill to allow the restructuring of the SEC to do away with the chairman position.
Ripple CEO: Hinman documents are worth the wait
On June 13, 2023, Ripple CEO Bradley Kent Garlinghouse tweeted, assuring the crypto community that upcoming Hinman’s documents are worth the wait. He hinted that the documents played a huge role in tipping the case in Ripple’s favor and concluding it.
Winklevoss twins: Democrats’ war on crypto will cost key voters
Winklevoss twins believe that Democrats are on the wrong side of crypto regulation, which may make them lose key votes in 2024. The two crypto investors believe that the ongoing ‘crypto crackdowns’ and open show of dissatisfaction with crypto innovations led by Democrats might make many voters favor their opponents.
SEC introduces two more securities rules for swap markets
SEC chair Gary Gensler has announced the introduction of more rules for Swap Markets. He says investors need more protection as misconduct in such markets could affect many involved parties.
E.U. begins MiCA crypto legislation countdown
E.U. has published MiCA regulations in its official journal, kickstarting the countdown to them taking effect by the end of 2024. These regulations have been in development over the past few years. They will play a big part in harmonizing crypto regulations in the region, as all European Union member states will be using them
Binance.US customers denied a USD fiat ramp by their banks
More pain for Binance.US customers as banks have decided to move away from the exchange in light of the SEC court battle. They have withdrawn their services of powering the Binance USD fiat ramp, making it impossible to withdraw or deposit USD to the exchange anymore.
U.K. imposes stricter crypto advertisement rules
The U.K. continues to crack down on crypto advertisements as the FCA introduces newer and stricter regulations. The regulator seeks to abolish the refer-a-friend bonus program used for advertising crypto projects, alleging that it hinders the chance for people to decide whether or not they want to be part of a project.
Gary Gensler was allegedly rejected as Binance advisor in 2019
Per Binance lawyers, Gary Gensler had applied to be an advisor for the exchange in 2019 but was rejected. They allege that the decision by the company to go with another person could have hurt Gensler and motivated him to go after the exchange after he was given power as the Chair of SEC.
Robinhood to delist crypto assets deemed as securities
Robinhood has returned to the drawing board to try and minimize its chances of picking legal fights with the U.S. SEC. The exchange seeks to delist several crypto assets the regulator sees as securities to avoid defending themselves in court and incurring extra costs.