Law Decoded: Crypto cities, investor protection nation, Nov. 8–15
Major U.S. cities embrace crypto as federal regulators remain much harder to bring around. As the U.S. federal government — acting through its Securities and Exchange Commission — continues to valiantly protect investors and the public interest from the grave dangers of a spot Bitcoin exchange-traded fund, one major American city after another begin embracing or at least exploring the potential of crypto and blockchain technology to improve various aspects of city finance, administration and residents’ monetary well-being. Following the lead of Miami, New York, Tampa and Jackson,....
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SEC Chairman Gary Gensler recently recognized bitcoin’s value but called for greater investor protection through increased regulation.
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, explained that there is not enough investor protection in cryptocurrency. He added that the securities regulator needs more funding and manpower to effectively regulate the crypto sector. SEC Chair Gensler Says More Funding Needed to Regulate Crypto Space SEC Chairman Gary Gensler detailed his agency’s approach to regulating cryptocurrencies before the Senate Banking Committee Tuesday. He assured senators that the SEC is working overtime to create a regulatory framework for crypto assets. Noting the....
The final Law Decoded moves away from specific news to reflect on the biggest legal issues facing crypto. Editor’s noteLadies and gentlemen, it is bittersweet to welcome you to the final installment of Law Decoded, at least with yours truly at the helm. Though someone may pick this newsletter back up at some point, there are no plans to do so now.Taking advantage of the rose-tinted glasses or maybe the graduation goggles that are in effect for this final newsletter, I will be shaking up the format. As last week’s Law Decoded focused on a few long-standing stories in crypto, this week, I....
Bitget’s reasoning behind using a combination of a stablecoin and Bitcoin in the protection fund is to counter massive unforeseen volatility in crypto markets. With the ultimate goal to regain investor confidence amid a prolonged bear market, crypto derivatives exchange Bitget launched a $200 million fund to safeguard users’ assets. Bitget joins the growing list of crypto companies, such as Binance, that have taken an investor-centric approach to gain investors’ trust via protection funds.The Bitget Protection Fund comprises 6,000 Bitcoin (BTC) and 80 million Tether (USDT), valued at $200....
Technology is evolving at an accelerated pace, and the opportunities for improving nearly all aspects of everyday life are endless. So many different parts of society can be improved upon by embracing these technological innovations, including the way we deal with resources. This concept in the FinTech space is called smart cities, and some interesting ideas are being tossed around. The term smart cities applies to much more than having intelligent people in charge of handling everyday operations. In fact, according to some industry experts, having a handful of people in charge of cities....