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US Senate passes resolution overturning SEC crypto rule on banks

In a significant development for the cryptocurrency industry, a Senate resolution aimed at requiring the Securities and Exchange Commission (SEC) to establish a regulatory framework for cryptocurrencies has passed. The resolution, which underscores growing bipartisan support for regulatory clarity in the crypto space, marks a step forward in addressing key regulatory challenges facing the industry.

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In a significant development for the cryptocurrency industry, a Senate resolution aimed at requiring the Securities and Exchange Commission (SEC) to establish a regulatory framework for cryptocurrencies has passed. The resolution, which underscores growing bipartisan support for regulatory clarity in the crypto space, marks a step forward in addressing key regulatory challenges facing the industry.

The Senate resolution calls on the SEC to take action to provide clarity and certainty for market participants by establishing clear guidelines and rules for the classification and regulation of cryptocurrencies. The resolution comes amid increasing calls from industry stakeholders for regulatory clarity to foster innovation and investment in the burgeoning crypto market.

The passage of the Senate resolution signals lawmakers’ recognition of the importance of regulating cryptocurrencies to protect investors and ensure the integrity of financial markets. By urging the SEC to develop a comprehensive regulatory framework, lawmakers aim to strike a balance between promoting innovation and safeguarding against potential risks associated with digital assets.

The resolution also reflects growing bipartisan consensus on the need for regulatory clarity in the crypto space, with lawmakers from both sides of the aisle recognizing the importance of addressing regulatory uncertainties to support the growth and maturation of the industry.

The SEC, as the primary regulatory agency overseeing securities markets in the United States, plays a crucial role in shaping the regulatory landscape for cryptocurrencies. The resolution highlights the expectation that the SEC will take proactive steps to provide clarity on issues such as token classification, initial coin offerings (ICOs), and securities laws applicability to digital assets.

While the passage of the Senate resolution is a positive development for the crypto industry, it is important to note that it is non-binding and does not carry the force of law. However, it sends a strong signal to regulators and industry stakeholders about the urgency of addressing regulatory uncertainties in the crypto space.

In summary, the passage of the Senate resolution calling on the SEC to establish a regulatory framework for cryptocurrencies represents a significant step forward in addressing regulatory challenges facing the industry. With bipartisan support and increasing recognition of the importance of regulatory clarity, stakeholders are hopeful that the SEC will take action to provide clear guidelines and rules for the crypto market in the near future.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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