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Ripple Labs (XRP) has applied for a national banking license with the U.S. Office of the Comptroller of the Currency. The firm filed its application Wednesday and is looking to join the rush of crypto platforms entering mainstream finance, according to a Wall Street Journal report. JUST IN: Ripple applies for US banking license. — Watcher.Guru (@WatcherGuru) July 2, 2025 Being granted a national trust bank charter would also place Ripple’s RLUSD stablecoin within the OCC’s remit. Ripple would likely also consider offering other crypto services through its banking license if approved. “The dual nature of that regulation would basically have set a new bar for transparency and compliance in the stablecoin market,” said Jack McDonald, senior vice president of stablecoins at Ripple. Presently, crypto custodian Anchorage Digital is the only digital-currency firm in the country with a federal bank charter. Circle, the USDC stablecoin issuer, also recently applied for a national ba...

Today, February 26, the United States Senate Committee on Banking, Housing, and Urban Affairs subcommittee on Digital Assets is hosting a hearing on “Exploring Bipartisan Legislative Frameworks for Digital Assets.” This hearing comes after Donald Trump made cryptocurrency a central focus of his second term, creating a working group in one executive order that was tasked with submitting a report that will “recommend regulatory and legislative proposals.” The Senate Digital Assets Legislation The chairman for this subcommittee is Cynthia Lummis (R-WY), who has been a significant promoter of crypto. She recently introduced a new stablecoin bill, the so-called GENIUS Act, alongside Tim Scott (R-SC), Bill Hagerty (R-TN), and Kirsten Gillibrand (D-NY).  This bill purports to establish jurisdiction over stablecoin issuers who “issue a payment stablecoin in the United States.” Payment stablecoins are described as “a digital asset...

Coinbase proposes shifting cryptocurrency oversight from the SEC to the CFTC, potentially easing regulatory hurdles for new crypto listings . The industry argues that digital assets should be regulated as commodities rather than securities. This regulatory clarity could encourage more blockchain developers to launch innovative cryptocurrency projects. President Trump is reportedly considering transferring crypto regulation authority to the industry-friendly CFTC regulator. Coinbase advocates for fair capital-raising rules that prevent venture capitalists from dominating emerging cryptocurrency markets. This policy shift signals positive market sentiment, potentially boosting investment confidence in digital asset markets. New Cryptocurrency Releases, Listings, & Presales Today Bitgrit empowers data scientists with an AI marketplace, enabling seamless collaboration and monetization.  Truth ensures secure, decentralized verification for prediction markets, fostering trust and ...

With his election having a massive impact on the leading crypto, US President-elect Donald Trump will reportedly keep a focus on Bitcoin (BTC) during his return to the White House. Indeed, the incoming Commander-in-Chief views the asset as “another stock market for him,” according to an Axios report. The reelection of Trump has seen the country embrace its first-ever pro-crypto president. Moreover, his presence should bring with it a wave of favorable regulation for the asset class. To this point, the 47th president has already made good on that hope, announcing the appointment of David Sacks as the White House’s inaugural crypto czar. JUST IN: US President-elect Trump "is going to be very focused on the price of #Bitcoin" during his presidency, Axios reports. pic.twitter.com/tZo4kuuyJD — Watcher.Guru (@WatcherGuru) December 10, 2024 Also Read: Trump Appoints Pro-Crypto Paul Adkins as SEC Chair Trump Will Reportedly Be ‘Very Focused’ on Bitcoin Price in Up...

Predictions around the world’s largest cryptocurrency, Bitcoin (BTC), were too ambitious this year. Several have suggested that the king coin could rise to $150,000 or even $200,000 by next year. But is it possible for Bitcoin to rise to this price level in such a short duration? Also Read: Google (GOOGL) Q3 Report To Look Rosy, Targets $200 How Is Bitcoin Faring At The Moment? Source BTC was trading at $66,338.64 at press time, following a 1.27% drop over the past 24 hours. The king coin went from trading at a high of $69,381 to a low of $66,322 this week. Things were quite slow in the BTC market as the network’s daily trading volume dipped by 26.37%. While the asset is moving sideways now, BTC could witness a rise in the coming months. Data from CoinCodex revealed that the king coin has the potential to hit $100,000 as early as January 2025. The firm highlighted that BTC will trade at a maximum price of $115,573, and the asset’s average price will remain at $99,312. ...

1. Supreme Court and Prosecutor General Include “Virtual Assets” Transactions as a Form of Money Laundering link link link On August 19, the Supreme People’s Court and the Supreme People’s Procuratorate held a joint press conference to issue an interpretation on the application of law in handling criminal cases involving money laundering. The interpretation clarifies that using “virtual assets” for transactions or financial asset exchanges to transfer or convert criminal proceeds and their profits can be recognized as “concealing or disguising the origin and nature of criminal proceeds” under Article 191, Paragraph 1, Item 5 of the Criminal Law. Attorney Shao Shiwei explained that the inclusion of virtual asset transactions as a method of money laundering means that if one receives illicit funds through the sale or purchase of virtual currency, the nature of those funds will determine the crime. If the funds come from the seven predicate crimes specified in the money laundering laws,...

Graham Steele, U.S. Treasury Assistant Secretary for Financial Institutions, calls for establishing crypto regulation standards to preempt potential crises. U.S. Treasury Assistant Secretary for Financial Institutions Graham Steele emphasized establishing standards before potential crises occur. Speaking at a George Washington University Law School event, Steele highlighted the opportunity for policymakers to learn from past financial crises, like those leading to the Dodd-Frank Act and the National Bank Act. “For crypto-assets, policymakers have a chance to act before a crisis to adopt higher standards that support responsible innovation,” Steele said. He stressed the balance needed in legislative proposals, advocating for regulation s that bolster innovation without compromising existing financial regulation s. Happening now! Assistant Secretary Graham Steele @steelewheelz, GW Law '06, comes back to his alma mater @gwlaw for a conversation with former Deputy D...

Russian co -founder of crypto exchange Bitzlato, Anatoly Legkodymov, pleaded guilty to money laundering charges. According to a press release published by the U.S. Department of Justice (DoJ) on Dec. 6, 2023 Legkodymov pleaded guilty to operating a money transmitting business that “transported and transmitted” over $700 million in illicit funds. The DoJ claims Bitzlato was a primary provider for dark market purchasers and sellers, as well as a “safe haven for ransomware criminals.” Under the plea agreement, Legkodymov will dissolve Bitzlato and will release any claim over $23 million in seized assets of the crypto exchange . “Legkodymov’s guilty plea today confirms that he was well aware that Bitzlato, his cryptocurrency exchange, was being used like an open turnstile by criminals eager to take advantage of his lax controls over illicit money transactions.” U.S. Attorney Breon Peace You might also like: Bitzlato management a...

The Monetary Authority of Singapore is seeking new limitations to harden crypto speculation. Singapore’s financial watchdog, the Monetary Authority of Singapore, is set to impose new rules on retail crypto investors in a bid to safeguard customers from highly speculative assets. In a statement published on Thursday, Nov. 23, MAS proposed new regulatory measures aimed at restricting crypto businesses from offering incentives to retail customers, saying incentives such as free tokens upon signup “may unduly impair the judgment of retail customers” to use crypto services. The regulator admitted that the majority of respondents to its consultation paper on the new rules disagreed with the restriction. MSA in turn said that such inventives may lure people into trading tokens “without fully considering the risks involved.” You might also like: Singapore’s Central Bank to pilot live CBDC for interbank settlements As such, businesses won’...

A new bipartisan bill introduced on Wednesday would ban US government officials from using China-based crypto companies, China’s digital yuan, and prevent them from using the world’s largest stablecoin, Tether (USDT). The Creating Legal Accountability for Rogue Innovators and Technology Act (CLARITY) seeks to ensure that the country’s “foreign adversaries… do not have a backdoor to access critical security intelligence and Americans’ private information,” according to the bill’s creators (via CoinDesk). US Representatives Zach Nunn (R-Iowa) and Abigail Spanberger (D-Va.) introduced the bill on Wednesday. If passed, CLARITY would block government officials from conducting b US iness with iFinex, Tether’s parent company. The bill comes amid growing awareness that the crypto ind US try is dependent on China. As Protos recently reported, China has generated more revenue for the world’s largest crypto firms than any other country ...

The Canadian Securities Administrators (CSA) has issued new guidelines clarifying the treatment of stablecoins in the country, acknowledging their importance. The CSA also reveals that crypto service providers may be allowed to offer services for stablecoin s linked to a single fiat currency. You might also like: Bitbuy enters partnership with Canada’s largest Bitcoin ATM Provider Stan Magidson, CSA Chair and CEO of the Alberta Securities Commission, emphasized the need for transparency in value-referenced crypto assets, including their reserves and governance, to protect Canadian investors and maintain market integrity. He added that the framework will “further refine, establishes standards to ensure investors receive necessary information about the assets they are buying, along with associated risks.” These interim conditions were developed in response to feedback from crypto market participants. The CSA’s goal is to establish clear guidelines for the ...

The Hong Kong Monetary Authority has cautioned the public against crypto firms that describe themselves as banks or offer products termed as deposits. On Sept. 15, the Hong Kong Monetary Authority (HKMA) issued a public statement expressing concern over crypto companies labeling themselves as “ banks ” and offering what they describe as “deposits.” According to HKMA, such categorizations may contravene Hong Kong’s Banking Ordinance, which strictly forbids unlicensed entities from using the term ‘bank’ or making any representations that suggest they are conducting banking activities in the region. The authorities consider such acts an “offense.” In the official release, the HKMA stated, “The HKMA is aware of some crypto firms describing themselves using terms such as crypto bank, crypto asset bank, digital asset bank, digital bank, or digital trading bank, or claiming to offer banking services or banking accounts.” The concern with this is the potentia...

SEC said in a court filing that Binance.US has produced only 220 documents during the discovery process many of which were “unintelligible screenshots and documents without dates or signatures.” The United States Securities and Exchange Commission (SEC) has accused Binance.US of non-cooperation in the ongoing investigation against the crypto exchange, according to a court filing dated Sept. 14. The SEC in its court filing noted that Binance.US’s holding company called BAM has produced only 220 documents during the discovery process. Many of the submitted documents under the Consent Order “consist of unintelligible screenshots and documents without dates or signatures.” SEC added that BAM has refused to produce essential witnesses for deposition, instead agreeing only to four depositions of witnesses it has unilaterally deemed appropriate and said: “It has responded to requests for relevant communications with blanket objections and has refused to produce documents kept in the ordi...

The Hong Kong Securities and Futures Commission (SFC) has advised investors to exercise caution regarding JPEX, a cryptocurrency exchange operating without regulatory approval. Hong Kong clamps down on JPEX The SFC, in an announcement on Sept. 13, noted that none of the entities under the JPEX Group has obtained a license, nor has there been an application to operate a regulated virtual asset trading platform (VATP). Instead, JPEX utilizes social media influencers, key opinion leaders (KOLs), and over-the-counter (OTC) crypto money changers to promote its products and services to customers in Hong Kong. Furthermore, the regulator has outlined some concerning activities associated with JPEX and its promoters. These include a false statement on JPEX’s website, where it claims to be regulated by foreign regulatory agencies as a regulated VATP. Additionally, the company offers high annual yields for certain products, with rates as high as 21%. The SFC has also received compla...