Legislation Introduced to Remove SEC Chair Gensler from His Role

United States Representative Warren Davidson has announced plans to introduce legislation that would remove SEC Chair Gary Gensler from his role and replace it with an Executive Director that reports to the Board. The move follows the SEC's proposed rule amendments that could bring certain brokers under additional regulatory scrutiny and redefine an "exchange." While Gensler has said the proposed changes could benefit investors and markets, SEC Commissioner Hester Peirce has criticized the move, accusing the regulator of stifling new technology and entrepreneurship. The SEC has faced criticism for using enforcement actions to develop the law on a case-by-case basis, rather than creating clear regulations. (Read More)

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Russian Parliament Votes on Bill Opening Door for Digital Ruble

Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian State Duma Passes Digital Ruble Draft Law on First Reading The lower [...]

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Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners

The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in [...]

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Rep. Davidson to introduce legislation to fire SEC boss Gensler for crypto overreach

Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the [...]

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Utah Passes Bold Crypto Bill: Will Other States Follow Its Lead?

The House committee in Utah has made a major move towards the use of public cryptocurrency funds in the state. On January 28th the Utah House Economic Development Committee voted 8 to 1 in favor of HB 230, commonly referred to as the Blockchain and Digital Innovation Amendments. The bill will now be taken to […]

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Cboe Resubmits Spot Bitcoin ETF Filings With Coinbase as Surveillance-Sharing Partner Amid SEC Dissatisfaction

In response to reports suggesting that the recent wave of spot bitcoin exchange-traded funds (ETFs) filed in recent weeks did not meet the U.S. Securities and Exchange Commission’s (SEC) standards, the Chicago Board Options Exchange (Cboe) has resubmitted four 19b-4 filings for these ETFs. Notably, Cboe’s amended filings now include Coinbase as a partner in [...]

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