The crypto world is buzzing with drama, power moves, and legal battles. Here’s your quick roundup with the biggest stories:
📜 1. SEC’s Crypto Custody Rule Backlash
The SEC’s SAB 121 rule, which forces exchanges to list customer assets as liabilities, has drawn sharp criticism. Lawmakers argue it stifles institutional investment and innovation. Even SEC Commissioner Hester Peirce slammed the policy as rushed and harmful. Will this rule survive the growing backlash?
💰 2. Trump’s Crypto Game Plan
Donald Trump has gone all-in on crypto, promising to make the U.S. the “crypto capital of the planet.” He plans to boost Bitcoin mining, create a national Bitcoin reserve, and launched a new platform, World Liberty Financial. While critics question his motives, the crypto industry is betting on his bullish stance to drive favorable regulations .
🔓 3. Tornado Cash Sanctions Overturned
A U.S. court ruled that sanctions against crypto mixer Tornado Cash by OFAC were unlawful. Privacy advocates are celebrating this win, but regulators worry it sets a precedent for tools accused of facilitating illicit activity. The debate over privacy vs. security in crypto just got more intense .
🏛️ 4. Crypto’s Lobbying Wins
The 2024 election cycle saw over 250 pro-crypto lawmakers elected, thanks to aggressive lobbying. Industry-backed PACs poured millions into campaigns, unseating crypto critics like Senator Sherrod Brown. With a Trump presidency, the crypto industry is poised to shape the future of U.S. policy .
⏩ What’s Next?
From regulatory fights to political power plays, crypto’s role in shaping global markets and policy is more prominent than ever. Are these moves paving the way for mass adoptionor sparking new conflicts?
Let me know which story you’d like to dive deeper into!
Sources:
https://blockworks.co/news/senators-oppose-sec-accounting-standards
https://www.wired.com/story/trump-crypto-support/