Tag: Crypto

Tim Scott Expects Proposal for Stalled Crypto Bill This Week

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US Senator Tim Scott says he is expecting a possible compromise this week on a stablecoin yield payments provision that has stalled a crypto market structure bill in the Senate. “I believe that this week we will have the first proposal in my hands to take a look at,” Scott, the chair of the Senate Banking Committee that is working to advance the bill, said on Tuesday at a crypto lobby event in Washington, D.C. “If that actually happens before the end of this week, and I think that it…

SEC’s Paul Atkins Floats Crypto ‘Safe Harbor’ Exemptions

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US Securities and Exchange Commission chair Paul Atkins says the agency should consider a “safe harbor proposal” to give crypto companies and some tokens a regulatory carveout. Atkins said in remarks at a crypto lobby event in Washington, DC, on Tuesday that his safe harbor proposal was made up of a “startup exemption,” a “fundraising exemption,” and an “investment contract safe harbor.” “It is past time for us to stop diagnosing the problem and start delivering the solution,” he said. “Such a safe harbor would provide crypto innovators bespoke pathways…

SEC will Consider most Crypto Assets not Securities under Federal Law

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In one of its first actions since signing a memorandum of understanding with the Commodity Futures Trading Commission (CFTC), the US Securities and Exchange Commission (SEC) said it would interpret how “non-security crypto assets” fall under federal securities laws. In a Tuesday notice, the SEC said its interpretation of how to address crypto assets would serve as an “important bridge” as lawmakers in the US Congress consider market structure legislation which will codify how financial regulators oversee digital assets.  The commission said the interpretation would provide a “coherent token taxonomy…

SEC says most crypto assets fall outside securities laws, including staking, airdrops, and mining

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SEC Chair Paul Atkins said Tuesday that the agency is implementing a token taxonomy and investment contract interpretation aimed at ending years of uncertainty over when crypto assets fall under federal securities laws. Speaking at the DC Blockchain Summit on March 17, Atkins said the framework would classify digital commodities, digital collectibles, digital tools, and payment stablecoins under the GENIUS Act as categories that are not deemed securities. He said only digital securities, meaning tokenized forms of traditional securities, would remain clearly subject to securities laws under the new interpretation.…

CFTC Issues No-Action Letter for Crypto Wallet Provider Phantom

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The no-action position taken by the US regulator under Chair Michael Selig will allow the company to engage in certain activities without registering as a broker. The US Commodity Futures Trading Commission (CFTC) said Tuesday that its Market Participants Division issued a no-action letter in response to a request from crypto wallet provider Phantom Technologies. A CFTC notice said that the no-action letter would, under certain circumstances, stop the division from recommending that the regulator take an enforcement action against Phantom or its staff for failure to register as a…

GSR moves to build one stop crypto capital markets platform with $57M acquisition

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GSR has acquired Autonomous and Architech in a $57 million deal, according to a company announcement, as the crypto trading firm expands its push to become a full-stack capital markets provider for tokenized organizations. The acquisition integrates Autonomous’s launch and operational support platform with Architech’s advisory capabilities, forming a unified offering that spans token design, fundraising, liquidity, and long-term treasury management. Autonomous will continue operating under its existing brand, while Architech will anchor a new GSR Digital Asset Advisory division alongside GSR’s trading and asset management businesses. The move comes…

Vietnam shortlists firms for first regulated crypto platforms

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Vietnam is moving to launch its first licensed crypto exchanges as part of a plan to reduce reliance on overseas platforms and better control capital flows. According to a March 12 finance ministry document reviewed by Reuters, five companies passed an initial qualification round for Vietnam’s pilot crypto exchange program, including affiliates of Techcombank (TCEX), VPBank (CAEX), and LPBank (LPEX), as well as stockbroker VIX Securities and conglomerate Sun Group. Vietnam plans a 0.1% personal income tax on crypto transactions via licensed platforms as part of a five-year pilot program…

South Korea Police Draft Guidelines for Seized Crypto Assets: Report

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South Korea’s National Police Agency (KNPA) has reportedly drafted new guidelines for handling seized cryptocurrencies, including privacy-focused assets, as authorities move to standardize how digital asset evidence is stored and managed. According to a report by local media outlet Asiae, the KNPA completed a draft directive outlining compliance requirements at each stage of crypto seizure. The directive includes measures for managing software wallets needed to handle crypto assets and privacy-focused tokens.  A police spokesperson told Asiae that as investigative paradigms change, field investigators need systematic guidelines along with appropriate support.…

Crypto.com Enables Tourist Crypto Payments in Korea With KG Inicis Deal

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Crypto.com has partnered with KG Inicis, one of the largest South Korean payment gateways and value-added network providers, to introduce crypto payment options for foreign visitors across the country. KG Inicis, which processes hundreds of millions of transactions annually with its service used by around 190,000 affiliated merchants, will support the rollout of Crypto.com Pay across its network, according to a Tuesday announcement. “KG Inicis boasts an unrivalled merchant acceptance network with 40% market share and we’re proud to partner with this fintech powerhouse to make digital asset payments easier…

DeFi Education Fund Drops SEC Lawsuit as Crypto Stance Softens

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Texas-based apparel company Beba and crypto lobby group DeFi Education Fund have withdrawn a 2024 lawsuit against the US Securities and Exchange Commission (SEC) over its approach to airdrops, citing a recent shift in the regulator’s approach to crypto. Beba launched a free token airdrop in March 2024 and, together with the DeFi Education Fund, filed a pre-enforcement challenge against the SEC that year. The lawsuit alleged the regulator had adopted its digital asset enforcement policy without a formal notice-and-comment rulemaking process, in violation of the Administrative Procedure Act. The…