04.03.2025
FIN-FSA Issues Release on MiCA Progress
The Finnish Financial Supervisory Authority (FIN-FSA) issued a press release warning that consumers still need to be careful when purchasing crypto asset services, noting that “the MiCA Regulation does not eliminate all the risks associated with crypto assets.” The release also notes that FIN-FSA has received applications from eight companies for authorization under MiCA to provide crypto asset services, which the regulator is currently processing.
04.03.2025
Judge Denies Binance Motion to Send Case to Arbitration
US District Judge Andrew Carter Jr. denied a motion from Binance seeking to send a proposed class action filed by investors who purchased tokens between April 1, 2017, and February 20, 2019, to arbitration in Singapore. Binance rolled out its amended terms of use on February 20, 2019, adding language stating that any disputes would be arbitrated under the rules of the Singapore International Arbitration Centre.
04.03.2025
SEC, Gemini Request 60-Day Stay in Crypto Case
The SEC and Gemini jointly filed a motion requesting a 60-day pause in their legal battle over the exchange’s crypto lending program. The motion asks a Manhattan federal court to suspend all deadlines in the SEC's January 2023 lawsuit. The suit alleged that Gemini failed to register its Gemini Earn program before offering it to retail investors.
04.03.2025
OFAC Sanctions Crypto Wallets Tied to Houthis
The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned eight digital asset wallet addresses used by Houthis to transfer funds associated with their activities. Data from Chainalysis and TRM Labs linked the wallets to Russian crypto exchange Garantex and the Houthis. Two are deposit addresses at major crypto platforms, while the other six are privately controlled. The addresses reportedly moved nearly $1 billion worth of funds linked to sanctioned entities.
04.03.2025
Rep. Waters, Sen. Warren Write to SEC Over Trump Family Crypto Venture
House Financial Services Committee Ranking Member Maxine Waters (D-CA) and Senate Banking Committee Ranking Member Elizabeth Warren (D-MA) wrote a letter to SEC Acting Chair Mark Uyeda, requesting information on the agency’s approach to regulating the Trump family’s crypto venture, World Liberty Financial, and demanding transparency regarding conflicts of interest and whether President Trump’s financial ties have influenced SEC decision-making. In the letter, the lawmakers note the SEC's decision to pause its enforcement case against Justin Sun, a major investor in World Liberty Financial.
04.03.2025
HFSC Advances STABLE Act
The House Financial Services Committee marked up and advanced the STABLE Act (H.R. 2392) in a vote of 32-17. Democrats offered numerous amendments, many of which focused on conflicts of interest related to Trump Administration officials, as well as anti-money laundering and consumer protections. None of the amendments were passed by the Committee. The Committee also advanced the Financial Technology Protection Act (H.R. 2384) and the Anti-CBDC Surveillance State Act (H.R. 1919). No amendments were offered to the other two bills.
04.02.2025
BlackRock Receives UK FCA Approval
BlackRock received approval from the UK Financial Conduct Authority (FCA) to operate as a crypto asset firm, allowing the company to operate its newly launched European BTC exchange-traded product (ETP) as a UK entity. According to the FCA's website, BlackRock officially became the 51st company registered as a crypto asset firm on April 1. The firm joins a select group of financial entities, including Coinbase, PayPal, and Revolut, which have met the agency's stringent regulatory requirements.
04.02.2025
HFSC Dems Criticize Trump Crypto Ventures Ahead of Markup
House Financial Services Committee Democrats tweeted about President Trump’s crypto ventures, stating that they will “try to block the President from replacing the dollar we use with his own stablecoin” during the Committee markup today. The lawmakers cited a Forbes article about President Trump's crypto ties, stating that "it looks like using the Office of the President to create sketchy crypto ventures to scam your own supporters out of BILLIONS can, in fact, double your wealth."
04.02.2025
HFSC Republicans Call for Agencies to Rescind, Modify Biden Proposals
House Financial Services Committee Republicans sent letters to multiple agencies requesting the rescission, modification, or re-proposal of certain Biden Administration actions. On digital assets, the lawmakers wrote to Acting FDIC Chair Travis Hill and Acting CFPB Director Russ Vought, urging them to withdraw “several regulatory actions that have stifled innovation, restricting financial institutions’ engagement in digital assets and hindering the growth of fintech companies.” The lawmakers also sent letters to the Federal Reserve and OCC.