The shift in New York's crypto regulation may encourage innovation but could also lead to increased reliance on federal oversight agencies.
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Regulation
Elon Musk dodges $258 billion Dogecoin lawsuit as investors drop appeal
The dropped lawsuit highlights challenges in proving crypto market manipulation, potentially impacting future legal actions against influencers.
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US State Introduces Bill to Establish Bitcoin Reserves in Treasury Funds
A Pennsylvania lawmaker has introduced a bill allowing state funds to invest in bitcoin as a hedge against inflation, aiming to strengthen financial stability. Bill Introduced in Pennsylvania to Build Bitcoin Reserves for State Funds Pennsylvania State Representative Mike Cabell announced Tuesday that he is introducing a bill to allow the state’s Treasury and pension […]Former SEC Chair Expects Pro-Crypto Shift in Trump Administration
Former SEC chairman predicts Trump’s administration could drive crypto-friendly legislation, easing regulatory constraints and fostering innovation within the digital asset industry. SEC Shake-Up: Could Trump’s Team Transform Crypto Legislation? Ex-SEC Chief Weighs In Jay Clayton, former chairman of the U.S. Securities and Exchange Commission (SEC), said on Wednesday that cryptocurrency legislation is likely to emerge […]Bitfinex hacker sentenced to 5 years in prison
US authorities arrested Ilya Lichtenstein and his wife, Heather Morgan, in 2022 for laundering Bitcoin connected to the Bitfinex exchange.
Ilya Lichtenstein, the hacker who stole billions worth of Bitcoin from the crypto exchange Bitfinex in 2016, was sentenced to five years in prison.
Washington, DC, District Court Judge Colleen Kollar-Kotelly sentenced Lichtenstein in a Nov. 14 hearing after he pleaded guilty to conspiracy to commit money laundering in August 2023. In addition to jail time, Lichtenstein was ordered to serve three years of supervised release.
Lichtenstein was facing up to 20 years in jail, but prosecutors had recommended he serve five years as he had no prior criminal history, gave “substantial assistance” in other investigations and managed to launder only 25,111 Bitcoin (BTC) out of the 119,754 BTC he stole from Bitfinex, currently worth over $10.4 billion with the cryptocurrency priced around $87,500.
Is Gensler Resigning: SEC Chair’s Cryptic Remarks Ignite Exit Speculation
SEC Chair Gary Gensler’s reflection on his tenure has fueled speculation he may step down before Trump’s administration can move to replace him. ‘It’s Been a Great Honor to Serve…’ U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler reiterated the agency’s focus on enforcing compliance within cryptocurrency markets on Thursday in a speech at […]Bitwise files to convert its 10 Crypto Index Fund into an ETP
Bitwise has filed to list BITW as an ETP on NYSE Arca, enhancing liquidity and regulatory protections for investors.
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18 States Sue SEC, Gensler, Commissioners in Unprecedented Crypto Regulation Battle
Eighteen states have sued the SEC, Chair Gary Gensler, and all SEC commissioners, alleging that overreach in crypto regulation infringes on state rights and hampers industry growth. 18 States Sue SEC, Gensler, and All Commissioners Over Alleged Overreach in Cryptocurrency Regulation Eighteen U.S. states have sued the Securities and Exchange Commission (SEC), its Chair Gary […]18 US states file lawsuit against SEC for overregulating crypto
18 US states sue SEC over crypto regulation, alleging unconstitutional overreach, impacting state-level frameworks for oversight.
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Pennsylvania lawmaker introduces bill for ‘strategic Bitcoin reserve’
The proposed legislation would allow the State of Pennsylvania’s Treasurer to invest up to 10% of its funds in Bitcoin, suggesting a multibillion-dollar investment.
Pennsylvania lawmakers have introduced legislation in the state’s House of Representatives to permit its treasury to hold up to 10% in Bitcoin on its balance sheet.
In a Nov. 12 memo, Representative Mike Cabell, a Republican, said he had proposed the bill as a tool to protect against inflation, claiming using Bitcoin (BTC) as a hedge could “offer stability in uncertain economic times.”
The legislation, if passed, would allow Pennsylvania’s Treasurer to invest up to 10% of the State General Fund, the Rainy Day Fund and the State Investment Fund in Bitcoin. As of November, the state’s Treasury reported it had more than $9.7 billion in its General Fund and roughly $7 billion in its Rainy Day Fund.