ChainCatcher news, according to Coindesk, based on Bernstein's research report, Robinhood is expected to be the biggest beneficiary of the potential relaxation of cryptocurrency regulations in the United States.With the possible pro-cryptocurrency policies from the U.S. Securities and Exchange Commission (SEC), Robinhood's market potential is expected to increase significantly. Bernstein raised the target stock price for this trading platform from $30 to $51 and maintained an outperform rating on its stock.In addition, Robinhood recently acquired the cryptocurrency exchange Bitstamp, which will enhance its ability to offer value-added crypto services.

ChainCatcher news, according to Bloomberg, informed sources revealed that the government led by Italian Prime Minister Giorgia Meloni may approve a proposal from coalition partners to reduce the tax increase on cryptocurrency transactions.A copy of the proposal shows that as the junior partner in Meloni's ruling coalition, The League has proposed an amendment to cap the tax rate on crypto transactions at 28%, while the budget proposed last month initially suggested an increase to 42%. The current tax rate is 26%. Cryptocurrency executives have stated that the proposed rate is too high and would make the local industry less competitive compared to other EU countries. The EU is preparing to fully adopt its first comprehensive cryptocurrency regulation across the EU, known as "MiCA," by the end of this year.Additionally, another ruling coalition party, Forza Italia, founded by the late Silvio Berlusconi, has proposed another amendment aimed at completely eliminating the tax increase and removing the tax exemption for earnings of €2,000 ($2,120) or less.

ChainCatcher news, according to The Block, one week before the U.S. election, Paxos CEO Charles Cascarilla urged presidential candidates Harris and Trump to create a more favorable regulatory environment for digital assets and to establish a regulatory framework for stablecoins.In a letter sent to the two candidates on Tuesday, Cascarilla stated, "As the CEO and co-founder of Paxos, one of the leading companies in the tokenization and blockchain infrastructure space, I urge you to implement a more favorable and clearer regulatory environment for digital assets." Cascarilla also warned that if the next government fails to follow through, the future of financial regulation could be at risk. He criticized the current cryptocurrency regulatory environment, stating that it is "not conducive to financial innovation."

ChainCatcher news, according to Bitcoin.com, the Russian government released a document on Friday detailing a law signed by President Putin that expands the scope of digital currency regulation. This new law significantly increases government oversight of cryptocurrency mining activities and related infrastructure nationwide.The legislation will take effect on November 1, and includes several amendments aimed at strengthening oversight and imposing restrictions on crypto mining activities based on regional needs. The law enables the Russian government to implement mining restrictions based on location and defines specific procedures and circumstances under which mining operations are prohibited. A notable provision in the law grants the government the power to block digital currency mining pools from operating in certain areas. Additionally, the government now has the authority to regulate infrastructure providers that support mining operations.This legislation also authorizes multiple federal agencies, beyond the Federal Financial Monitoring Service (Rosfinmonitoring), to access digital currency identification addresses. This expansion includes federal administrative and law enforcement agencies, enhancing their ability to track transactions that may be related to money laundering or terrorist financing activities.Furthermore, the amendments transfer the responsibility for the national mining registry from the Ministry of Digital Development to the Federal Tax Service, which will now oversee the registration of mining businesses and remove companies that repeatedly violate regulations. While individual miners can continue to operate without registration if they comply with specific electricity consumption limits, companies and individual entrepreneurs must adhere to the new registration requirements.

ChainCatcher news, the blockchain company Consensys has issued an open letter to future U.S. presidents, calling for clear and supportive regulations for cryptocurrencies and Web3. The letter, released on October 23, emphasizes that regulatory decisions need to be transparent to keep the U.S. competitive globally while addressing consumer protection and illegal activities.

ChainCatcher news, to better protect cryptocurrency users, Argentina is innovating its cryptocurrency framework. The Argentine securities regulator (CNV) recently announced a public consultation on a draft to regulate the operations of virtual asset service providers (VASP) in the country, imposing new compliance requirements on these entities. If Resolution 1025 is approved, it will force cryptocurrency companies to disclose agreements with third parties and clients. Additionally, it aims to prevent money laundering and terrorist financing by establishing policies and cybersecurity standards. This framework is a follow-up to the VASP registration launched earlier this year. (Bitcoin.com)

ChainCatcher news, according to Jinshi reports, Japan plans to assess the effectiveness of its cryptocurrency regulations. This review will take place over the next few months and may pave the way for the country to launch cryptocurrency exchange-traded funds (ETFs).An official from the Financial Services Agency (FSA) of Japan stated that the review will evaluate whether the country's current regulatory approach under the Payment Services Act (PSA) is sufficient. The PSA was originally enacted in 2009, and Japanese lawmakers have amended it multiple times to address changes in the financial services landscape brought about by the emergence of digital currencies. The legislation recognizes Bitcoin (BTC) and other cryptocurrencies as legal property. It also requires cryptocurrency exchanges to register and comply with the country's anti-money laundering (AML) and counter-terrorism financing (CFT) obligations.

ChainCatcher news, according to Bloomberg, the Financial Services Agency (FSA) of Japan will begin reviewing the country's cryptocurrency regulatory rules in the coming months. An FSA official stated that this assessment will focus on whether the current Payment Services Act adequately regulates cryptocurrencies. This move could pave the way for reducing digital asset taxes and launching cryptocurrency investment funds in Japan.Currently, the Japanese cryptocurrency industry is seeking to lower the digital asset capital gains tax rate from the current maximum of 55% to 20%.

ChainCatcher news, according to CoinDesk, U.S. Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam urged Congress to take swift action to establish cryptocurrency regulations. Although Senate Agriculture Committee Chair Debbie Stabenow (D-Mich.) stated that her latest proposal for regulating the crypto market is about to be submitted to committee members, senior Republican member John Boozman (R-Ark.) indicated that feedback from industry leaders suggests the proposal has not yet garnered sufficient support.Behnam emphasized that Congress's failure to establish a regulatory framework not only harms investor interests but also puts the U.S. at a disadvantage in global competition. The Senate Agriculture Committee has been working to develop relevant legislation aimed at granting the CFTC the authority to regulate spot trading of digital commodities. Stabenow hopes to share specific legislative language with committee members by the end of this weekend.

ChainCatcher news, the results of the French election have led to a hung parliament, with major parties failing to secure a majority, which may affect the passage of new legislation, including cryptocurrency regulations.The left-wing alliance "New People's Front" won 188 seats, becoming the biggest winner, but fell short of the 289-seat majority. President Macron's centrist alliance secured 161 seats, while Marine Le Pen's far-right National Rally obtained 141 seats.Mark Foster, the EU policy head of the Crypto Council for Innovation, stated that this will make the formulation of new policies, including cryptocurrency regulations, more difficult.

ChainCatcher news, according to the official announcement, Binance has announced service updates in accordance with Turkey's new cryptocurrency regulations. All direct marketing activities targeting local users will be completely halted, and the Turkish language option for Binance.com will be gradually shut down within 3 months.Binance stated that it has been closely monitoring regulatory developments in Turkey and believes that collaborating with regulators is crucial to ensure that all users can enjoy a compliant environment. Binance will strongly support the establishment of a regulatory framework for the industry to protect the ecosystem, and is therefore taking all necessary measures to ensure compliance with the law in Turkey and globally.

ChainCatcher news, according to Coinfomania, the cryptocurrency community in Nigeria has expressed appreciation for the newly introduced European regulation on the crypto asset market (MiCA), particularly its provisions regarding stablecoins. They believe these regulations are beneficial and emphasize the importance of aligning crypto projects with local interests to protect the national currency.In a recent conversation, Nigerian data and policy analyst Obinna Uzoije discussed the potential lessons that the Economic Community of West African States (ECOWAS) could learn from Europe’s MiCA. Uzoije stated that stablecoins are currently the most widely used crypto assets, especially in Africa, where the trading volume of stablecoins surpasses that of any other form of digital assets.Uzoije believes that a unified regulatory framework would provide much-needed clarity for potential cryptocurrency investors by simplifying the investment process across different countries and eliminating the need to understand various national regulations. This clarity could reduce regulatory uncertainty, making the ECOWAS region more attractive to investors, as regulatory uncertainty is a major global barrier to cryptocurrency investment.

ChainCatcher news, according to unfolded reports, a U.S. court has ruled that Coinbase cannot force the U.S. Securities and Exchange Commission (SEC) to create new rules.Previously, Coinbase stated in its opening brief submitted to the Third Circuit Court of Appeals that the appellate court should instruct the SEC to begin a "long-delayed rulemaking process."Coinbase argued that the SEC violated the Administrative Procedure Act by not engaging in rulemaking and failing to provide a detailed explanation for rejecting Coinbase's rulemaking petition. The Act outlines how federal agencies should develop and publish rules.

ChainCatcher news, House representatives are preparing to vote on two major pieces of cryptocurrency legislation. The "Financial Innovation and Technology Act of the 21st Century" (FIT), initiated by Republican representatives, and an anti-Central Bank Digital Currency (CBDC) bill will be submitted in the last week of May.The 21st Century FIT Act, also known as HR 4763, aims to create a regulatory framework around the cryptocurrency industry. It proposes to allocate oversight responsibilities between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).The anti-CBDC bill, named HR 1122, was introduced by Majority Whip Tom Emmer and aims to prohibit the Federal Reserve from issuing digital currency to consumers. Emmer criticized privacy concerns and government surveillance, arguing that the digital yuan would only exacerbate these issues.

ChainCatcher news, Kenyan President William Ruto announced that the government has appointed Bitcoin miner Marathon Digital as an advisor to consult with the Ministry of Finance and the Ministry of Energy on cryptocurrency regulations.Marathon Digital will discuss energy demands related to cryptocurrency mining with the Ministry of Energy.

ChainCatcher news, according to Fortune magazine, last Thursday, Wyoming Governor Mark Gordon signed the Decentralized Unincorporated Nonprofit Association Act, a landmark legislation that establishes a framework for recognizing DAOs (Decentralized Autonomous Organizations) as legal entities.

ChainCatcher news, according to The Block, Coinbase Chief Legal Officer Paul Grewal stated on Friday that the cryptocurrency exchange is challenging the U.S. Securities and Exchange Commission (SEC) decision to deny its request for new regulatory rules for digital assets.Paul Grewal said, "We appreciate the two commissioners who disagreed with the denial and called for a genuine dialogue. We should work together to create laws and rules that benefit consumers and American innovation, rather than responding to litigation based on a legal stance that changes every month. After 18 months of silence, we have taken to the courts to seek the response required by law. Thanks to the Third Circuit Court, we will again seek its assistance later today to challenge the SEC's abandonment of its responsibilities."It is reported that since Coinbase requested new rules in 2022, there has been a disagreement between it and the SEC.Earlier that day, the SEC rejected Coinbase's long-standing request for new rules—regarding cryptocurrency regulations—calling it "unnecessary."

ChainCatcher news, according to Beincrypto, U.S. presidential candidate Vivek Ramaswamy is known for his pro-cryptocurrency stance, and he has harshly criticized Gary Gensler and the U.S. Securities and Exchange Commission (SEC) for failing to clarify cryptocurrency regulations. In a Republican primary debate, Ramaswamy was asked whether cryptocurrencies would also provide economic freedom to bad actors. Ramaswamy stated that regulators must keep up with current trends, as wrongdoers have long been deceiving people, using the collapse of FTX as an example to prove that the current regulatory framework is ineffective.Additionally, another Republican U.S. presidential candidate, Ron DeSantis, opposes central bank digital currencies and has pledged to eliminate central bank digital currencies if elected.

ChainCatcher news, according to coindesk, the U.S. Treasury is urging lawmakers to grant it new enforcement and sanction powers, including handling cases that do not involve domestic transactions. Under the proposal, Congress should grant the Treasury "new secondary sanction tools" to combat exchanges that support terrorism. Additionally, the U.S. government is also seeking control over Tether, with the proposal suggesting that "legislation could explicitly authorize OFAC to exercise extraterritorial jurisdiction over transactions involving stablecoins pegged to the dollar (or other dollar-denominated transactions), just as it typically does for dollar transactions," even if these transactions do not have direct contact with the U.S.