Law & Policy

Last week in crypto regulation (Nov 24 - Dec 1)

A U.S. appellate court ruled that Tornado Cash’s immutable smart contracts cannot be sanctioned as they are not considered property.

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A U.S. appellate court ruled that Tornado Cash’s immutable smart contracts cannot be sanctioned as they are not considered property.
https://assets.ctfassets.net/c5bd0wqjc7v0/70EasapqSxH1kLInf3IQrd/1a1ce21cdc6bc903921f45018cce3821/Tornado_Cash.pdf

Tether announced it will discontinue support for its euro-backed stablecoin (EURT) due to regulatory changes in the EU.

Tether announced it will discontinue support for its euro-backed stablecoin (EURT) due to regulatory changes in the EU.
https://tether.io/news/tether-updates-users-on-a-strategic-transition-to-better-support-community-driven-product-support/

The SEC filed 583 enforcement cases in FY 2024, securing $8.2 billion in penalties, the highest in its history.

Coinbase halted its USDC Rewards program for European Economic Area users, citing MiCA regulations.

Coinbase halted its USDC Rewards program for European Economic Area users, citing MiCA regulations.
https://cryptoslate.com/coinbase-to-halt-usdc-earn-program-on-mica-compliant-regions/

Andreessen Horowitz co-founder claimed the Biden administration secretly cut off 30 tech founders from banking services under “Choke Point 2.0.”

Andreessen Horowitz co-founder claimed the Biden administration secretly cut off 30 tech founders from banking services under “Choke Point 2.0.”
https://x.com/benaverbook/status/1861511171951542552

The Trump administration is considering expanding the CFTC’s authority over the crypto sector.

The Trump administration is considering expanding the CFTC’s authority over the crypto sector.
https://www.foxbusiness.com/markets/trump-admin-eyes-cftc-lead-digital-asset-regulation

Developers of the platform pump.fun disabled live streaming indefinitely due to a surge in inappropriate content.

Developers of the platform pump.fun disabled live streaming indefinitely due to a surge in inappropriate content.
https://pump.fun/docs/moderation-message

Binance’s CMO shared principles guiding the listing of new memecoins on the exchange.

Binance’s CMO shared principles guiding the listing of new memecoins on the exchange.
https://cointelegraph.com/news/crypto-memecoins-due-dilligence-binance-cmo-rachel-conlan

A bill was introduced in Brazil’s Congress proposing a strategic Bitcoin reserve, allocating up to 5% of the country’s reserves to Bitcoin purchases.

A bill was introduced in Brazil’s Congress proposing a strategic Bitcoin reserve, allocating up to 5% of the country’s reserves to Bitcoin purchases.
https://www.camara.leg.br/proposicoesWeb/fichadetramitacao?idProposicao=2471228

Vancouver’s mayor proposed adding Bitcoin to the city’s balance sheet as a reserve asset.

Vancouver’s mayor proposed adding Bitcoin to the city’s balance sheet as a reserve asset.
https://www.youtube.com/watch?v=teaDoa4_Zso

Morocco is drafting legislation to legalize cryptocurrency use.

Morocco is drafting legislation to legalize cryptocurrency use.
https://www.reuters.com/technology/morocco-preparing-law-allow-cryptocurrencies-central-bank-chief-says-2024-11-26/

The SEC filed 583 enforcement cases in FY 2024, securing $8.2 billion in penalties, the highest in its history.
https://www.sec.gov/newsroom/press-releases/2024-186