07.14.2025
Rep. Waters Pens Op-Ed Opposing Crypto Bills
House Financial Services Committee Ranking Member Maxine Waters (D-CA) wrote an op-ed for MSNBC voicing opposition to the crypto bills being considered in the House this week, arguing they will “open the floodgates to massive fraud and financial ruin for millions of American families.” She asserted that the CLARITY Act and GENIUS Act were written by and for the digital asset industry and "replicate the same mess that led to past financial crises." She referenced minimal enforcement and weak consumer protections.
07.14.2025
House to Hold “Crypto Week” Votes This Week
The House is scheduled to vote on a series of digital asset bills during “crypto week” this week. House Republican leaders opted not to combine stablecoin and market structure legislation, meaning the chamber will vote on the Senate-passed GENIUS Act. House Financial Services Committee Chair French Hill (R-AR) advocated for the bills in an interview with CBS, while Rep. Warren Davidson (R-OH) said in a post on X that he plans to oppose the GENIUS Act due to its failure to protect self-custody.
07.11.2025
ESMA Warns Investors of Risks of Unregulated Crypto Products
The European Securities and Markets Authority (ESMA) issued a public statement warning investors of the “halo effect” that can lead to overlooking risk when authorized crypto asset service providers (CASPs) offer both regulated and unregulated products or services. The statement also reminds CASPs of the issues they should consider when providing unregulated products and services, as well as of their obligation to act fairly, professionally, and in the best interests of their clients.
07.11.2025
ESMA Publishes Knowledge and Competence Criteria for CASP Staff
The European Securities and Markets Authority (ESMA) published guidelines specifying the criteria for assessing the knowledge and competence of staff at crypto asset service providers (CASPs) who provide information or advice under MiCA. Specifically, the document provides guidance on the minimum level of knowledge and competence of staff through examples, and addresses specific features and risks of crypto asset markets and services through the criteria for assessment of the relevant staff's knowledge and competence.
07.11.2025
Judge Increases Prison Sentence for Crypto Scammer
US District Judge Alvin Hellerstein increased the prison sentence of crypto fraudster Nicholas Truglia from 18 months to 12 years after he allegedly refused to repay $20 million to an entrepreneur whose crypto he admitted to stealing. Truglia was sentenced in 2022 to 18 months and ordered to pay more than $20 million in restitution. He would have gotten more time initially if he had not vowed to repay.
07.11.2025
IRS Scraps Crypto Reporting Rule
The IRS officially scrapped a set of rules detailing how DeFi exchanges would report customer transaction information for tax purposes to the government. The DeFi broker rule was adopted at the end of the Biden Administration, but it never took effect. It was later repealed via a Congressional Review Act resolution supported by bipartisan majorities in both the House and Senate. President Trump signed the resolution in April.
07.11.2025
Senate Confirms Jonathan Gould to Lead OCC
The Senate voted 50-45 along party lines to confirm Jonathan Gould to be Comptroller of the Currency. He is expected to build on the Trump Administration’s friendlier approach to crypto. Gould previously served as the OCC's chief counsel during the first Trump Administration and was most recently a partner at the law firm Jones Day. Gould is the first confirmed head of the agency since 2020.
07.10.2025
ESMA Publishes Peer Review of Malta Crypto Authorizations Under MiCA
The European Securities and Markets Authority (ESMA) published the results of a peer review analyzing the approaches adopted by the Malta Financial Services Authority (MFSA) in the authorization and early supervision of crypto asset service providers (CASPs) under MiCA, flagging shortfalls and providing recommendations to strengthen its processes. ESMA found that, while the MFSA has demonstrated a good level of expertise and supervisory cooperation, some material issues were not fully resolved when MFSA granted the CASP authorization and some risk areas were not adequately addressed during the authorization process.
07.10.2025
SEC Maintains Pace of Enforcement Actions
The SEC is maintaining roughly the same volume of cases under the Trump Administration as it had during the Biden Administration, and the agency is continuing to pursue some crypto-related fraud cases, despite efforts to reverse course on many pending crypto cases from the previous administration. According to reporting from Bloomberg, the SEC filed 44 enforcement actions from Inauguration day through the end of June, compared with 48 filings over the same stretch last year. These include cases targeting alleged real estate investment schemes and insider trading, among others focused on investor harm.