ChainCatcher news, Binance officially stated in its 2024 year-end report that Binance achieved milestones in 2024 with over 250 million registered users, over $160 billion in managed user assets, and a cumulative trading volume reaching $100 trillion. With the surge in institutional participation, Binance's VIP user base has doubled, and the number of registered institutional users has nearly doubled as well.In addition, Binance has doubled its commitment to enhancing compliance and security in 2024, investing hundreds of millions of dollars in key projects. Currently, Binance's internal compliance team has grown to 650 members, enabling it to obtain regulatory authorization in 21 jurisdictions.

ChainCatcher news, according to Cryptoslate, Cardano founder Charles Hoskinson has called for the Cardano Foundation to relocate to a jurisdiction that allows users to elect board members. He raised this issue in a post on social media platform X on December 18, while encouraging the Cardano community to inquire about the foundation's board structure and decision-making processes.The Cardano founder expressed concerns about the current arrangement, where board members are appointed by the Swiss government without community input. He also urged the community to ask questions about individuals related to the foundation's past decisions and its relationship with Intersect. In light of this, Hoskinson criticized the foundation for remaining in Switzerland instead of moving to regions like Abu Dhabi or Wyoming, which support more inclusive governance models. According to Hoskinson, this move would enable the community to collaborate with the foundation to establish a new structure that promotes transparency and member participation.The Cardano Foundation was established in 2016 and operates under Swiss law, which does not allow for community-based board elections. Meanwhile, as Hoskinson made his latest remarks, the organization continues to face criticism over governance issues, internal conflicts, and the marginalization of major donors.

ChainCatcher news, BTIG policy research director Isaac Boltansky stated that the U.S. Securities and Exchange Commission (SEC) is about to undergo personnel changes. If approved by the Senate, Paul Atkins will replace Gary Gensler for a five-year term.However, Isaac Boltansky warned that despite the personnel changes at the SEC, there will still be "jurisdictional disputes" in the future, noting that the agency and the Commodity Futures Trading Commission sometimes clash over cryptocurrency regulation issues because "there are too many cooks in the kitchen, and they can't agree on what they are doing."Additionally, the key question of whether cryptocurrencies should be classified as securities is still being litigated in court, which is beyond the jurisdiction of U.S. federal regulators. The next Congress will have a slight Republican majority, which may at least lead to clearer regulations regarding stablecoins.

ChainCatcher news, according to a report by the Hong Kong Economic Journal, the Executive Director of the Hong Kong International New Economy Research Institute, Fu Rao, published an analysis stating that U.S. President-elect Trump plans to reshape the regulatory framework for cryptocurrencies, granting the Commodity Futures Trading Commission (CFTC) greater regulatory power. This change aims to cover the $3 trillion digital asset market while weakening the jurisdiction of the U.S. Securities and Exchange Commission (SEC). This move is seen as a significant policy turning point in the cryptocurrency sector and could have far-reaching effects on the global crypto market.U.S. cryptocurrency regulation has long faced issues of unclear responsibilities. Under the existing framework, the SEC and CFTC enforce regulations on the crypto industry through separate enforcement actions. However, due to a lack of clear legal basis, there has been ongoing controversy over the scope of authority between the two agencies. In contrast, the CFTC is known for its more lenient approach to cryptocurrency regulation and is viewed as a more friendly regulator by the industry.The CFTC primarily regulates the derivatives market, including futures and options trading, while its authority over the spot market is limited. The Trump administration intends to expand the CFTC's responsibilities, allowing it to comprehensively regulate the spot market for digital commodities, including Bitcoin and Ethereum. This move not only helps enhance market transparency but also provides a clearer legal framework for the development of the digital asset industry.

ChainCatcher news, according to The Block, Coinbase's policy executive Tom Duff Gordan stated that Trump may prompt other international jurisdictions to reassess their cryptocurrency regulatory frameworks or strengthen existing systems to attract investment and promote industry growth.

ChainCatcher news, according to Coindesk, a new academic paper published by the crypto research firm Exponential Science indicates that a complete ban on Bitcoin mining in certain jurisdictions could actually lead to an increase in the overall carbon emissions of the industry, as affected miners may relocate to new areas that rely on fossil fuel-based grids. Bans in the U.S. and Europe typically worsen the situation, while the ban in Kazakhstan has a positive impact on emissions.

ChainCatcher news, the International Organization of Securities Commissions (IOSCO) Board stated that since 2020, the ownership of cryptocurrencies among retail investors has significantly increased, and called for more education for investors in this field.According to a report, among the 24 jurisdictions surveyed, 15 jurisdictions reported that the proportion of retail investors owning cryptocurrencies reached 10% or more last year, while 6 jurisdictions reported cryptocurrency ownership of 30% or more.IOSCO wrote, "This is a sharp increase compared to 2020, when half of the responding jurisdictions estimated that only 1% to 5% or less of investors owned cryptocurrencies. The crypto asset space has been continuously evolving since 2020."It added, "Despite market volatility and experiencing a severe downturn during the 'crypto winter' of 2022, retail investors in both developed economies and emerging market jurisdictions continue to invest in the crypto asset market."

ChainCatcher message, WBTC has completed its transition to a geographically distributed custody structure. According to the cooperation agreement between BitGo and BiT Global, the control of the underlying Bitcoin will now be shared among Singapore, Hong Kong, and the United States.The new custody structure uses a multi-signature protocol, requiring two signatures to approve any transaction and transfer funds from the wallet. After successfully transitioning to multi-jurisdictional custody, BiT Global issued the following statement: "With a diversified jurisdiction that includes the United States, Hong Kong, and Singapore, we ensure that no single jurisdiction/entity controls the custody of WBTC assets."

ChainCatcher news, a Texas federal judge dismissed the securities class action against the DeFi project Bancor protocol operators. Judge Robert Pitman agreed with the opinion of the court, ruling that the plaintiffs failed to prove that U.S. courts have jurisdiction over foreign defendants.The ruling indicates that Bancor's foreign operations are not subject to U.S. securities laws, and the plaintiffs cannot sue Bancor in the U.S. for its suspension of investment protection features. The judge also noted that Bancor and its founders do not have sufficient ties to the U.S., suggesting that the plaintiffs could file a lawsuit in an Israeli court.

ChainCatcher news, according to the BitGo official blog, BitGo and BiT Global are creating a joint venture to diversify the custody and cold storage business of WBTC across multiple jurisdictions, with BitGo becoming a minority shareholder in the new joint venture. This custody change will be seamless and transparent for the WBTC community, with a transition period of 60 days. The new solution will use the same BitGo multi-signature technology and cold storage technology that has been used to secure Bitcoin since 2019.It is reported that BiT Global is a regulated trust and corporate service provider (TCSP) based in Hong Kong, with a strategic partnership with Justin Sun and the Tron ecosystem.

ChainCatcher news, two NFT artists are suing the U.S. SEC over whether NFTs are securities and their jurisdiction. Law professor Brian Frye and "Song a Day Mann" songwriter Jonathan Mann filed a lawsuit against the U.S. SEC and its five commissioners on Monday in the U.S. District Court for the Eastern District of Louisiana.The artists' lawyers accuse the SEC of launching a "campaign to assert jurisdiction over the sale of digital artworks," citing Taylor Swift's concert tickets as an example, and referencing the agency's recent two cases against NFTs. Both companies are preparing NFT projects and are seeking a declaratory judgment from the court.0x Labs' General Counsel and former SEC lawyer Ashley Ebersole stated that the SEC's previous NFT enforcement actions have been settled, leaving the court with little opportunity to consider whether NFTs fall under the definition of securities.

ChainCatcher news, according to News.bitcoin, based on data from the Financial Action Task Force (FATF), 97 out of 130 jurisdictions "partially or not at all" comply with anti-money laundering recommendations for the virtual asset sector. 88 jurisdictions (60%) have decided to allow virtual asset service providers (VASP), while 14% (20 jurisdictions) explicitly prohibit them. The FATF claims that stablecoins and privacy-enhanced cryptocurrencies are increasingly being used by terrorist organizations and "rogue states."

ChainCatcher news, according to Fox Business reporter Eleanor Terrett, U.S. Senator Dr. Roger Marshall discussed the power struggle between the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) regarding which digital assets are securities and which are commodities.Marshall asked CFTC Chairman Rostin Behnam, "Wouldn't it be simpler if we put the whole thing under the jurisdiction of the U.S. Commodity Futures Trading Commission?"Behnam responded, "I speak for myself, but I would be happy to do so. I believe we have the expertise and capability. Under that framework, some changes need to be made to the definitions of securities and commodities."

ChainCatcher news, according to a post by Robinhood Crypto EU on the X platform, TON is now available for trading on Robinhood Crypto for customers in certain jurisdictions in Europe.

ChainCatcher news, cryptocurrency exchange Coinbase launches a DOGE lottery promotion where the user agreement's dispute resolution clauses are in conflict. Coinbase prefers arbitration for financial disputes, while users lean towards court intervention, with both options listed in the platform agreement. On May 23, the U.S. Supreme Court ruled that state and federal courts have exclusive jurisdiction over disputes related to the Coinbase lottery promotion.

ChainCatcher news, according to THE BLOCK PRO, Binance's new CEO Richard Teng stated that the trading platform is "in discussions with a few jurisdictions" to consider establishing a headquarters location.

ChainCatcher news, according to Cointelegraph, Tron has requested the dismissal of a lawsuit from the U.S. Securities and Exchange Commission (SEC), claiming it has no jurisdiction over "digital assets sold to foreign users on a global platform." Tron stated that the sale of tokens was "entirely overseas," and the measures taken were to avoid the U.S. market. The SEC has not accused them of "initially selling or offering to any U.S. residents," nor has it pointed out any victims.Previously, the SEC issued electronic subpoenas to Justin Sun, the Tron Foundation, the BitTorrent Foundation, and BitTorrent in March last year, alleging illegal sales of unregistered securities, fraud, and market manipulation.

ChainCatcher news, according to CoinDesk, the chairman of the Financial Action Task Force (FATF), T. Raja Kumar, stated that according to a report, as of June 2023, less than 30% of jurisdictions worldwide have begun to regulate cryptocurrencies.The report explores which jurisdictions have complied with FATF's recommendations, stating that countries need to take this issue seriously and urging them to take action. The report points out that the lack of regulation on cryptocurrencies "provides significant loopholes for criminals and terrorists," and emphasizes the urgency of strengthening regulation globally.

ChainCatcher message, Robinhood Crypto EU tweeted that USDC is now available on Robinhood Crypto, and users holding USDC in the Robinhood Crypto app can earn rewards of up to 10%.It is worth noting that availability is limited to certain jurisdictions and may change, and usage is not permitted in places where it is prohibited by law.

ChainCatcher news, Robinhood Crypto EU officially announced on X that BONK is now available for trading on Robinhood Crypto in certain EU jurisdictions.According to OKX data, BONK is currently priced at $0.000037, with a short-term increase of 8%.