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The Winklevoss twins have published a comment letter in support of the U.S. Consumer Financial Protection Bureau's proposed Open Banking Rule."The Open Banking Rule promotes individual freedom, fosters competition and innovation, and helps prevent criminal activity. It should be preserved," they str…
American banking and financial industry advocacy groups have petitioned the Securities and Exchange Commission to repeal its cybersecurity incident public disclosure requirements. Five US banking groups led by the American Bankers Association asked the regulator to remove its rule in a May 22 letter…
The decentralized finance (DeFi) industry is breathing a sigh of relief as Congress relaxes reporting obligations, but questions remain about how lawmakers will regulate DeFi.On March 12, the House of Representatives voted to nullify a rule that required DeFi protocols to report gross proceeds from …
The U.S. House of Representatives voted to repeal a controversial tax rule that requires "custodial brokers" to collect and report user data to the Internal Revenue Service, teeing it up for President Trump's signature. Notably, the vote passed with a bipartisan supermajority with support from 291 H…
Tesla saw a boost in its financial performance in the fourth quarter of 2024, thanks in part to its Bitcoin holdings.The company reported a $600 million gain due to a change in accounting rules. The move allowed Tesla to value its Bitcoin at market prices. Tesla Makes $600 Million on BitcoinThis shi…
The despised Dealer Rule sought to expand the definition of a financial dealer to encompass DeFi liquidity providers.
Activity keeps heating up around Bitcoin and Ethereum ETF options.
While challenging to implement, the FATF’s Travel Rule is a crucial step towards greater transparency and security in the crypto space.