CFTC Chairman Rostin Behnam cited a Northern District of Illinois ruling that Bitcoin $BTC and Ethereum $ETH are commodities. This supports the CFTC’s jurisdiction in crypto regulation amid SEC disputes. The ruling, though not nationwide, could shape future regulations. #CryptoLaw #Update
Rep. Patrick McHenry urges a veto overturn of President Biden’s decision on SEC’s SAB 121 during a debate on H. J. Res. 109. The resolution impacts digital asset custody regulations and had bipartisan support. McHenry criticizes the SEC’s overreach and calls for policy revisions. #FinanceNews
Federal Reserve Chair Jerome Powell supports the bipartisan Lummis-Gillibrand Payment Stablecoin Act, aiming to regulate US dollar-linked stablecoins by year-end. The bill seeks to enhance transaction stability and security, despite concerns from Coin Center about innovation impacts. #CryptoRegulation
CFTC Chair Rostin Behnam testified that an Illinois court recognized $BTC and $ETH as commodities and contended that 70-80% of tokens are non-securities, opposing SEC Chair Gary Gensler’s view. He urged Congress to swiftly legislate for better investor protection in the digital asset market. #CryptoRegulation
Nigeria’s Finance Minister Wale Edun urges @SECNigeria to regulate the crypto market amid AI and virtual asset growth. Risks of misinformation from crypto firms about licensing highlighted. Nigeria leads in Bitcoin interest, stressing the need for clear regulations. #CryptoRegulation
Parties in the Ripple lawsuit filed motions to seal exhibits following a favorable order for Brad Garlinghouse, Ripple Labs, and XRP II. Judge Hamilton set deadlines for motions and hearings in July. Meanwhile, whales are accumulating $XRP ahead of the final judgment on penalties. #Update
Ryan Selkis, CEO of @MessariCrypto, accuses the SEC of corruption and pledges to stop cooperation, claiming it fails to protect citizens and regulate crypto. He believes investigative journalism is more effective than litigation. #CryptoNews
.@MessariCrypto founder Ryan Selkis declares “operational war” on the SEC, calling Chair Gary Gensler corrupt. Selkis’s “Declaration of Independence from the SEC” challenges its authority, aiming to reshape U.S. crypto regulations through courts, Congress, and media. #CryptoNews
Ripple’s XRP sees whale movement of 37.39M tokens to Bitstamp before Ripple vs. SEC case conclusion. Fred Rispoli predicts case end by July 13 or 31. XRP faces resistance at $0.4250, struggling below 100-hourly SMA. Regulatory clarity crucial for crypto’s future. #XRP #CryptoNews
Helium Mobile, founded by Amir Haleem, Shawn Fanning, and Sean Carey, uses blockchain-based hotspots to expand wireless services globally. Their $20/month 5G plan and partnerships with Google and Solana are driving growth. #Update #WirelessTech
Craig Wright, who claims to be Bitcoin’s creator, faces a Worldwide Freezing Order from the UK High Court. Justice Mellor issued the order to prevent Wright from moving assets to avoid paying $1.97M in legal costs to Peter McCormack after a defamation case. #CryptoNews
Binance.US faces a court battle with the SEC over its ICO, BNB Vault program, and staking services. The SEC continues its probe despite Binance’s $4.3B settlement with the DOJ. Outcome could reshape the crypto landscape. #CryptoRegulation
In 2025, the U.S. will introduce stablecoin regulations, influenced by political shifts. Key figures warn against overregulation to avoid stifling innovation and losing talent. EU’s MiCA sets a precedent, but U.S. aims for a unique approach. #CryptoRegulation
Dubai’s @ZandBank partners with Swiss platform Taurus to offer secure crypto custodian services and manage tokenized assets. This move enhances Zand’s digital asset services using Taurus’ wallet tech for both hot and cold storage. #CryptoNews
