SEC chief Gary Gensler was not always on a crusade against crypto. An old video even shows him claiming that most crypto assets are commodities. The video circulating on Twitter shows Gary Gensler giving a talk as part of a blockchain course at MIT in 2018. At the time, Gensler was the professor of the graduate course "Blockchain and Money."
While U.S. lawmakers and regulators struggle to deal with the crypto challenge, the EU has embraced crypto and made it part of the European financial system. Last week, the EU Parliament passed the Markets in Crypto-Assets (MiCA) framework establishing crypto as part of the European monetary system.
Congressman Warren Davidson, Ohio’s 8th District in Congress, says he is introducing legislation to fire SEC Chairman Gary Gensler. An Executive Director role will replace the Securities and Exchange Commission (SEC) Chairman, and former chairs of the SEC will be ineligible, the Congressman said.
Crypto.com has been unavailable in Germany for some time. The Singapore-based crypto exchange has announced that it will withdraw from the Federal Republic due to investigations by the German regulator BaFin.
The German subsidiary of the big four auditing firm EY must wait to undertake new audit mandates with public interest groups for two years. In addition, the state supervisory authority APAS imposed fined for EY and involved auditors.
The U.S. Office of the Comptroller of the Currency (OCC) has established a new office of fintech and appointed Prashant Bhardwaj to head the department as deputy comptroller and chief financial technology officer.
Bafin has opened investigations against against Crypto.com that may have directed its offering to customers in Germany without sufficient permission. Meanwhile, Crypto.com is withdrawing from the German market.
The Chinese online retail giant Alibaba wants to split itself into six independent companies. This would transform the now monolithic tech giant Alibaba into a tech holding company, which is rare in China.
After being awarded a fintech license, Swiss startup Relio plans to offer digital accounts for SME customers. Relio wants to reduce compliance efforts for customers.
