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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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.

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

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/

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