International
First Bitcoin Futures Contract Debuts in Argentina: Argentina welcomed its first Bitcoin futures contract on July 13, just three months after the country’s securities watchdog approved the underlying index as part of a strategic innovation agenda. More here.
United States
U.S. Stablecoin Bill Takes Big Step Despite Fight from Democrats: U.S. House lawmakers cleared stablecoin legislation for the next step in its route through Congress on Thursday, though the House Financial Services Committee moved the bill toward a potential floor vote without bipartisan support as Chair Patrick McHenry (R-NC) blamed White House objections for the stalemate. More here.
U.S.-Listed Crypto Firms Will Need to Report Cybersecurity Breaches: The Securities and Exchange Commission (SEC) ordered listed companies, including crypto firms, to publish annual reports on their “cybersecurity risk management, strategy, and governance.” More here.
Ripple Labs Notches Landmark Win in SEC Case Over XRP Cryptocurrency: Ripple Labs Inc. did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on June 13, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. More here.
U.S. Senate Passes $886B Military Spending Bill with Crypto AML Provision: The U.S. Senate passed the 2024 National Defense Authorization Act (NDAA), which included a provision that tightens oversight over financial institutions engaged in crypto trading and takes aim at crypto mixers and “anonymity-enhancing” crypto assets. More here.
U.S. SEC files lawsuit against Celsius and Alex Mashinsky: The United States Securities and Exchange Commission is taking action against Celsius Network, one of the cryptocurrency lending firms that collapsed in 2022. The securities regulator filed a lawsuit against Celsius’ former CEO, Alex Mashinsky, on July 13, charging the executive and Celsius for raising “billions of dollars” through unregistered and fraudulent offers, as well as selling “crypto asset securities.” More here.
Crypto Bill Clears Two House Committees: The Financial Innovation and Technology for the 21st Century Act passed through the Agriculture Committee July 27 and through the Financial Services Committee on July 26. The bipartisan bill aims to develop a regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry. More here.