Connect with us

Business

SEC task force continues meeting with firms over crypto regulations

Published

on

The U.S. Securities and Exchange Commission (SEC) continues to engage with crypto firms over regulatory issues under its new leadership. Recent meetings between the SEC’s crypto task force and industry representatives, including advocacy groups and executives, suggest a shift in the agency’s approach. Some believe the SEC may be reconsidering its stance on whether cryptocurrencies should be classified as securities.

The meetings follow the SEC’s decision to drop its investigation into Robinhood Crypto and OpenSea. There is also speculation that the commission may end its enforcement action against Coinbase. The discussions, led by Commissioner Hester Peirce, signal potential regulatory changes that could provide clearer guidelines for digital assets.

Peirce has called for public input on creating a regulatory framework that might exclude certain crypto projects from being classified as securities. Some within the industry are advocating for a “regulatory sandbox” that would allow projects to operate under limited oversight before being fully regulated. This approach aims to provide innovation-friendly policies while ensuring compliance with financial laws.

With no confirmed SEC chair yet, the agency’s direction remains uncertain. Acting Chair Mark Uyeda is leading discussions, but the Senate has yet to confirm a permanent head, with former Commissioner Paul Atkins considered a likely candidate. The evolving regulatory landscape suggests the SEC may be open to more industry-friendly policies under the current administration.

Business

7-Eleven South Korea to accept CBDC payments in national pilot program

Published

on

7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

Continue Reading

Business

SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

Published

on

The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

Continue Reading

Business

GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

Published

on

GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk