International Bodies
Retail CBDC Could Add Unique Value, but Further Investigation Is Needed, Hong Kong Central Bank Says: Hong Kong has not decided whether to introduce an e-HKD, the report said. More here.
UK Publishes Final Proposals for Crypto, Stablecoin Regulation: The government plans to propose legislation on fiat-backed stablecoins by early 2024. More here.
Taiwan Crypto Regulation Gets Going with First Reading of Digital Asset Bill: The bill sets the groundwork for defining a virtual asset and how exchanges should operate in the country. More here.
EU Markets Regulator Warns of DeFi’s ‘Serious Risks’: ESMA, responsible for rulemaking under the bloc’s landmark new crypto law MiCA, is worried about new forms of market manipulation when there’s no central counterparty. More here.
Canadian Regulatory Body Clarifies Stablecoin Rules for Exchanges And Issuers: The umbrella organization for Canada’s securities regulators has set conditions for trading and issuing stablecoins. More here.
United States
California Gov. Newsom Greenlights Crypto Regulation Bill for 2025: The bill will mandate cryptocurrency firms to adhere to licensing requirements, maintain financial records and provide regulators with the authority to conduct audits. More here.
Senators Call for Crypto Reporting Rules Implementation: Senators including Elizabeth Warren (D-MA) and Angus King (I-ME) wrote a letter expressing concern about proposed regulations that will delay reporting requirements affecting crypto brokerages and exchanges until 2026. “We are alarmed by the self-inflicted two-year delay for the rule’s implementation,” the senators wrote. More here.
U.S. State Regulators Intervene in Coinbase’s Unregistered Securities Case: Amicus briefs filed to support the SEC argue crypto is insignificant, only used for speculation, and captured by existing investor-protection rules. More here.
SEC Appeal of Ripple Ruling Denied by Judge: The Securities and Exchange Commission’s attempt to appeal a court ruling which determined that digital tokens are not securities when sold to the general public has been denied by a federal judge. The judge said there is no “substantial ground for difference of opinion” with the July ruling that Ripple Labs’ XRP token was a security only when sold to institutional investors. More here.
Treasury Market Braces for Seismic SEC Rule: Treasury market participants expect U.S. regulators to soon finalize a major rule aimed at reining in debt-fueled bets by hedge funds and bolstering financial stability. They worry it could also reshape the industry and create new problems. More here.
U.S. SEC Chair Makes Pitch for Climate Rule to Corporate Group: Gensler told an event held by the U.S. Chamber of Commerce that he hoped an eventual rule on reporting climate risks, which was first proposed more than a year ago and received some 16,000 comments, would survive any legal challenges. More here.
SEC’s Gensler Won’t Say What’s Next with Bitcoin ETFs After Grayscale Loss: The agency chairman also declined to give any indications on timing or the order applications might be considered. More here.