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The new bill seeks to introduce a crypto regulatory framework that aligns with the EU’s MiCA. Poland’s Financial Supervision Authority (KNF) will supervise cryptocurrencies and impose penalties where applicable. Poland’s financial markets regulator plans to have a crypto regulatory framework in place by the end of the year, the Finance Magnates has reported. According to the publication, which has cited details published in local media outlets, the Polish government is looking to introduce a crypto regulation bill that will facilitate this in Q2. The move will see the Polish Financial Supervision Authority (KNF) empowered to surpervise the digital assets market in the country in line with European crypto regulatory guidelines. The EU adopte its Markets in Crypto Assets (MiCA) law in 2023 and is set to come into effect this year. Poland ’s pursuit of new crypto -related legislation is therefore down to the need to align local laws ...

According to a Dec. 15 release, the U.S. Securities and Exchange Commission has rejected Coinbase’s request for transparent crypto rules. This follows Coinbase’s filing of a narrow action in federal court that would compel the U.S. Securities and Exchange Commission (SEC) to respond yes or no to a July 2022 petition asking the SEC to use its formal rulemaking process. Regulating investments by any name On Dec. 15, Chairman Gary Gensler announced the SEC’s denial of Coinbase’s Rulemaking Petition, citing three reasons: existing laws already apply to crypto securities markets, the SEC addresses crypto securities markets through rulemaking, and the need to preserve Commission discretion in establishing rulemaking priorities. NEW: The @SECGov has denied @coinbase’s petition for the agency to create transparent rules of the road for # crypto . The is SEC standing firm on its belief that “existing laws and regulations already apply to the crypto securities m...

In a recent CNBC interview, CFTC Chair Rostin Behnam declared most crypto assets as commodities under current law. Behnam stated that under current laws in the U.S., most crypto assets are considered commodities, a standpoint that sheds light on their regulatory status. "It is figuring out how existing, decades-old law, fits into this new technology that seems to be changing and ultimately needs a new way of thinking around policy and legislating," says @CFTCbehnam on #crypto. "Under existing law, many of the tokens constitute commodities." pic.twitter.com/F3JPjWq3wG — Squawk Box (@SquawkCNBC) December 12, 2023 However, Behnam highlighted an ongoing “turf war” among U.S. regulatory bodies, notably between the CFTC and the Securities and Exchange Commission (SEC), over the authority to regulate the crypto currency industry. This conflict poses significant challenges in establishing clear regulatory guidelines for digital assets . You...

Four House Reps. wrote a letter to SEC Chair Gary Gensler on Wednesday. They dubbed Spot Bitcoin ETF “indistinguishable” from Crypto Futures ETF. Bitcoin is still trading around the $26,000 level at writing on Wednesday. All eyes are on Bitcoin today after the U.S. lawmakers urged the Securities & Exchange Commission to “immediately” approve applications it has received for a Spot Bitcoin ETF. House Reps. wrote a letter to Gary Gensler today On Wednesday, four members of the House Financial Services Committee wrote a letter to Gary Gensler in which they argued that a Spot Bitcoin ETF is not particularly different from a Crypto Futures ETF that the regulator has already approve d. And so, they urged Chair of the SEC in their letter to allow the likes of BlackRock, Fidelity and several others to list a Spot Bitcoin ETF . SEC’s current posture is untenable moving forward … there is no reason to continue to deny such ...

Galaxy Digital names Leon Marshall its head of Europe operations. The crypto company had recently partnered with DWS in Europe. Galaxy Digital shares are down about 30% versus their YTD high. Galaxy Digital just revealed plans of expanding its footprint in Europe. Its shares are keeping about flat at writing. Leon Marshall to head Galaxy’s European operations On Thursday, the blockchain company named Leon Marshall the Chief Executive of its Europe an operations. He has previously served as an executive at Genesis. Marshall has been tasked with seeking opportunities and leading the digital assets platform further into Europe. He will remain its global head of sales as well. Earlier this year, the New York based firm announced a strategic alliance with DWS on digital assets ETPs – exchange-traded products. The asset manager will eventually work with Galaxy Digital on other digital asset solutions as well. “GLXY” is currently down abo...