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60-38 in the Senate voted in favour of overturning the SEC rule. Bipartisan support signals a potential shift in crypto regulation. Presidential veto possible. In a landmark decision, the US Senate has voted to overturn a key Securities and Exchange Commission (SEC) rule that barred regulated financial firms from holding Bitcoin and other cryptocurrencies. The legislation, known as H.J. Res. 109, previously passed in the US House with bipartisan support and the Senate’s support signals a potential shift in the regulatory landscape for digital assets in the United States. Bipartisan support for H.J. Res. 109 reversal The decision to overturn the SEC’s Staff Accounting Bulletin (SAB) No. 121 garnered significant bipartisan support in both the House and the Senate. The rule, which had been in effect for two years, prohibited regulated financial institutions from holding cryptocurrencies. However, lawmakers have moved to invalidate this restricti...

Crypto exchange Gemini is now registered as a cryptocurrency services provider in France. The exchange will offer its services and products to customers in France in coming weeks. Coinbase also recently received a VASP license from the French regulator. On January 17, the US-based crypto exchange co-founded by the Winklevoss twins Cameron and Tyler, announced it had secured the Digital Asset Service Provider (DASP) registration from French financial markets regulator l’Autorité des Marchés Financiers (AMF). The milestone, which follows Gemini’s unveiling of its EU headquarters in Ireland in 2022, will see the exchange extend its crypto products and services to retail and institutional customers across France.  Gemini plans to begin offering these services and products in coming weeks, Gillian Lynch, Gemini ’s Head of Ireland and EU, said. “ France is a global innovation leader and has a vibrant crypto community as...

Hong Kong’s Securities and Futures Commission (SFC) banned the two crypto websites for scamming users. HongKongDAO and BitCuped were blocked after a joint effort of the police and internet providers. The two cases come not long after investors lost over 1.6 billion HKD ($204 million) in JPEX and Hounax. Hong Kong’s Securities and Futures Commission (SFC) has reportedly banned two crypto currency web sites over allegations the site had scammed investors . The South China Morning Post reported on Wednesday that the securities watchdog had blacklisted and blocked access to the HongKongDAO and BitCuped sites after authorities were tipped off that the platforms were misleading investors. HongKongDAO touted “HKD” token According to the SCMP, Hong Kong regulators found that HongKongDAO had hoodwinked users into buying a token dubbed “HKD”. The platform also offered false assurances, lying to users that it had applied for licenc...