BITPRISMIA
U.S. regulators are cracking down on crypto ATMs due to a rise in fraud cases, with new state-level regulations and a potential federal bill aiming to enhance consumer protection and digital asset security.
The SEC, under Chairman Paul Atkins, believes it has the existing authority to regulate blockchain and digital assets without waiting for new legislation from Congress, aiming to provide faster regulatory clarity while facing industry challenges.
SEC Chair Paul Atkins will discuss Project Crypto on August 15, an initiative aimed at modernizing U.S. securities systems to integrate digital assets into mainstream finance and position the U.S. as a leader in cryptocurrency innovation.
New York Assembly bill proposes a 0.2% excise tax on crypto and NFT transactions to fund substance abuse prevention programs, reflecting broader global trends in crypto taxation.
Hong Kong's Securities and Futures Commission (SFC) is tightening custody standards for licensed crypto exchanges following a regulatory review that identified weaknesses in cyber defenses.
Vietnamese authorities have dismantled a $200 million Ponzi scheme involving Paynet Coin (PAYN), arresting 20 individuals and seizing $38 million in assets.
The Bank for International Settlements (BIS) proposes an AML compliance score system for crypto tokens to enhance security and regulatory clarity without compromising privacy.
Wall Street bankers and consumer advocates are calling for revisions to the GENIUS Act, a stablecoin law, arguing it bypasses state licensing and oversight, with broader crypto market regulation still pending.
The U.S. SEC's Project Crypto aims to establish the United States as the global cryptocurrency capital through regulatory advancements and strategic initiatives.
Major financial firms like Charles Schwab and Fidelity are expanding their crypto hiring efforts, signaling a shift towards institutional crypto adoption and reshaping the financial landscape.