ChainCatcher news, Bitwise Chief Investment Officer Matt Hougan stated that with the appointment of AI and cryptocurrency "czar" David Sacks by Trump to advance reasonable regulatory policies, fraud and bad actors in the crypto industry will significantly decrease over the next four years. Hougan believes that the previously enforcement-oriented regulatory approach has actually increased risks for investors.Previously, Sacks indicated that the Digital Asset Working Group would focus on establishing market structure norms, a regulatory framework for stablecoins, and assessing national digital asset reserves.

ChainCatcher news, according to Cointelegraph, Coinbase CEO stated at the Davos Forum that during Trump's presidency, the U.S. Congress may introduce new cryptocurrency legislation that would help unlock significant investments in the industry.

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, 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 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 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, according to Bloomberg, U.S. Senate Banking Committee Chairman Sherrod Brown stated that he and his colleagues are working to develop new regulations and collaborating with federal agencies to "combat cryptocurrency," while he noted that the push for regulation does not stem from "a single crypto company."Sherrod Brown mentioned, "This is about everything related to national security, from Russian oligarchs to North Korean cybercriminals, from arms trafficking to drug dealers, who prefer to use unregulated and unrestricted networks." He is working with Democrats to formulate some measures, including a regulatory framework for stablecoins, and a spending agreement may be reached. (Bloomberg)

ChainCatcher news, the National Project Office (NAPP) under the leadership of the President of Uzbekistan has recently issued a new regulation that outlines the procedures for the issuance, registration, and circulation of crypto assets in the country. The aim of this move is to create a new mechanism for commercial entities, allowing local companies to attract funds through coins and tokens.The document provides a basic legal definition of crypto assets and distinguishes between different types. It introduces requirements for cryptocurrency issuers, custodians, and trustees, and specifies their obligations. The agency has also approved the rules for establishing and maintaining an electronic register of crypto assets and has passed accounting standards that safeguard the rights related to crypto assets and their holders.Cryptocurrency custodians will be responsible for providing services related to the issuance, registration, circulation, and storage of cryptocurrency assets. NAPP stated that issuers can use them or other electronic platforms, and noted that the face value of coins must be expressed only in the national fiat currency, namely the Uzbek Som.NAPP emphasized that the issuance of unsecured tokens is prohibited. The use of terms such as "national," "state guarantee," "state support," "Uzbekistan," "Uzbek," "country," and "Som" in the names of cryptocurrencies is forbidden. NAPP further warned against engaging in any unauthorized activities related to the circulation of crypto assets in the country or using services from unlicensed providers, which also applies to companies participating in cryptocurrency mining. (source link)

Chain Catcher News, Federal Reserve Vice Chair Lael Brainard stated that the cryptocurrency market bears risks similar to those of traditional finance and that new regulations need to be developed for situations not covered by existing laws. She also reiterated the risks of stablecoins and predicted that the private sector will create more stablecoins in the future, raising questions about whether central banks should issue their own Central Bank Digital Currency (CBDC). "If not properly regulated, stablecoins are, in my opinion, one of the riskiest areas, and certainly, due to the operability of stablecoins, these risks can easily spread to the core financial system."It is reported that Lael Brainard is currently the second-in-command at the Federal Reserve, responsible for leading the Fed's exploration of a digital dollar. Previously, she stated that the crypto industry needs to meet the same safety standards as traditional finance to prevent it from becoming a threat to the broader financial system. (CoinDesk)