CFTC and SEC propose amending reporting rules for large hedge funds on crypto exposure

The two US financial regulators cited the growth in the hedge fund industry as the reason for the proposed change, due in part to digital asset investments becoming more common. The United States Securities and Exchange Commission, or SEC, and the Commodity Futures Trading Commission, or CFTC, has proposed requiring large advisers to certain hedge funds to report any exposure to digital assets.In a Wednesday notice, the SEC and CFTC proposed amending their confidential reporting form for certain investment advisers to private funds of at least $500 million.

Crypto firms failed to deliver 'promised benefits' from lawmaker-backed incentives, says nonprofit

“At a minimum, the public should have a say in these crypto handouts," said the Tech Transparency Project. The Tech Transparency Project, or TTP, a research initiative of the United States-based nonprofit watchdog group Campaign for Accountability, has released a report claiming crypto firms “provided little in return” for state governments offering financial incentives. In a report released Thursday, the TTP said that many crypto firms based in certain US states have “reaped special benefits” for setting up operations while not always delivering jobs, economic growth or tax benefits for residents.

Final candidates for next UK prime minister have made pro-crypto statements

The Conservative Party is expected to decide between Rishi Sunak and LizaTruss as the next party leader by Sept.

Federal Reserve Hikes Interest Rates with a 75-Bp Increase, Bitcoin Remains Bearish

US Federal Reserve has once again raised key interest rates by 75 basis points in an effort to normalize its monetary policies.

Abacus Life Partners With Blockcerts to Introduce Blockchain-Powered Insurance

Abacus Life Settlements, a buyer of life insurance policies in the US, has teamed up with BlockCerts to introduce blockchain-enabled insurance and longevity-related assets.

Crypto Council for Innovation hires government insiders to build leadership team

Linda Jeng and Brett Quick will be joining the council in support of its policy and regulatory affairs team. The Crypto Council for Innovation, or CCI, a crypto advocacy group that establishes dialogues with governments and regulatory agencies on the benefits of crypto, has hired two new experts with experience in financial regulatory policy in the United States.In a Tuesday announcement, the CCI said Linda Jeng, a former Federal Reserve Board and Treasury Department employee, and Brett Quick, former deputy chief of staff for House Financial Services Committee chair Emeritus Spencer Bachus, would be joining the council in support of its policy and regulatory affairs team.

Japan Ministry of Economy launches Web3 policy office

The new body will bring together the financial regulators and creative industries to formulate the policies in the Metaverse.

Cronos: Did suspension of CRO rebate benefits affect investors

One of the world’s leading cryptocurrency exchanges, Crypto.com, recently upgraded its Visa Card policies.

ECB report likens PoW to fossil fuel cars, PoS to electric vehicles

European Central Bank researchers anticipate a clash between the green transition policies and Bitcoin investors.

‘Hypocrisy’: Judge denies SEC motion to keep Hinman docs secret in Ripple case

The SEC has argued that the documents should be protected because Hinman wrote the speech as a “personal errand,” but the judge didn’t buy it. The Securities and Exchange Commission (SEC) has suffered a blow in its case against Ripple, after a US judge has denied its claims for attorney-client privilege regarding internal documents related to the “Hinman speech”.In denying the motion on July 12, US Magistrate Judge Sarah Netburn called out the SEC’s hypocrisy in arguing that the speech — in which a former official Bill Hinman suggested ETH was not a security — was a personal matter for Hinman while also claiming it should be protected because he received legal advice from the SEC to confirm the commission’s policies.

US Treasury Wants Your Comments on Biden's Crypto Order

The Biden Administration has officially invited public input into future US policies towards digital assets.

US Treasury calls for public comment on digital asset policy, following Biden's executive order

President Joe Biden's executive order on crypto from March directed the Treasury Department to take the lead among other government agencies in developing policy recommendations. The United State Department of the Treasury has requested comments from the public on the potential opportunities and risks of digital assets in compliance with President Joe Biden’s executive order from March.In a Tuesday announcement, the US Treasury said it was asking for input from the public that will “inform its work” in reporting to the president the possible implications of digital assets on the financial markets and payment infrastructures.