SEC’s DeFi Rulemaking Do-Over Falls Short

In April, the U.S. Securities and Exchange Commission (SEC) reopened the comment period for proposed set of rules that would redefine various blockchain protocols as U.S. regulated securities exchanges, a second try at reining in decentralized finance (DeFi) from early 2022. Alongside the SEC’s enforcement-first mindset, this attempt at rulemaking serves as compelling evidence that new U.S. legislation – (perhaps something like the recently published market structure bill sponsored by House Fin

• 2023-06-13
• the SEC blockchain SEC securities exchange proposal securities exchanges

U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms

A provision in the department’s “Greenbook,” its list of tax proposals and explanations for U.S. President Joe Biden’s budget proposal, would create a phased-in excise tax based on the costs of the electricity used in crypto mining, imposed on the companies “using computing resources” to mine cryptocurrencies.

• 2023-03-10
• U.S. Treasury Department budget proposal digital asset excise tax Biden tax rules proposal crypto mining

SEC Proposes Rule That Could Squeeze Crypto Platforms

Wall Street’s main regulator proposed heightened requirements for businesses that safeguard assets for fund managers.

• 2023-02-16
• cryptocurrencies investment advisers digital assets SEC requirements Gary Gensler The proposal the SEC qualified custodian proposal