It’s an unfortunate habit, but federal agencies tend to announce enforcement actions and rulemakings at the end of the day on Fridays, especially Fridays before a holiday. For crypto, last...
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Senate Bill Risks Innovation and Free Speech with Stablecoin Ban
Sens. Cynthia Lummis and Kirsten Gillibrand this week introduced a bill to create a regulatory framework for stablecoins, which is a laudable endeavor. Unfortunately that bill also includes a complete...
The bipartisan Digital Asset Anti-Money Laundering Act, introduced today by Sens. Warren and Marshall, is the most direct attack on the personal freedom and privacy of cryptocurrency users and developers...
The Unintended(?) Consequences of the STABLE Act
The recently introduced STABLE Act aims to ban any stablecoin that is not issued by a federal bank. Yes, any stablecoin irrespective of whether it is issued by a state-regulated...
Two new bills in Congress would clarify agency jurisdiction over cryptocurrency
Three longstanding policy issues facing cryptocurrency technology are being addressed by two new bi-partisian bills introduced in the House today: (1) the patchwork of state-by-state licensing of exchanges, (2) the...
The ideal regulatory environment for Bitcoin
We’re often asked what our ideal regulatory environment would be for Bitcoin and cryptocurrencies like it. A few years ago, in a regulatory submission to the Indian Ministry of Finance,...
What’s in the Bitlicense’s 5-year update?
On the Bitlicense’s 5th anniversary, NYDFS has announced plans to streamline the licensing application process, the new coin listing process, and it has updated a Frequently Asked Questions page. These...
How the OCC can clear a path for financial technology entrepreneurs
At last week’s Consensus: Distributed virtual conference Brian Brooks, chief operating officer of the U.S. Office of the Comptroller of the Currency (OCC), said the agency should consider a federal licensing scheme...
The Uniform Law Commission’s model virtual currency act has been introduced in California
In February, the Uniform Law Commission’s model act for virtual currency business licensing was introduced in the California Assembly as AB 1489. Although it is now October and the Assembly’s...
Breaking down the consumer benefits of cryptocurrencies
In addition to their widely touted commercial use-cases, cryptocurrency and open blockchain technologies can significantly empower and improve the welfare of individual consumers. Because they do not offer the same...