CryptoRegulation
Do Kwon, the South Korean crypto entrepreneur behind Terraform Labs, has pleaded guilty to fraud charges linked to the $40 billion collapse of TerraUSD and Luna. He faces up to 12 years in prison and significant asset forfeiture, marking a major moment in crypto fraud accountability.
The U.S. SEC has ended its long-standing lawsuit against Ripple Labs, resulting in a $125 million fine and an injunction on institutional XRP sales. This marks a significant moment in crypto regulation, reflecting a more balanced approach by the SEC towards crypto assets.
President Trump is set to sign an executive order allowing cryptocurrency, private equity, and real estate assets in 401(k) retirement plans, potentially unlocking nearly $9 trillion for digital asset investment. This signals a shift in U.S. retirement policy and regulatory stance towards crypto and alternative investments.
PNC Bank teams up with Coinbase to allow customers to buy, hold, and sell cryptocurrencies directly within the bank's platform, marking a major step in mainstream financial adoption of digital assets. This partnership also comes amid favorable regulatory changes promoting crypto innovation.
The US government has created a Digital Asset Stockpile to manage non-Bitcoin cryptocurrencies forfeited to the Treasury, with federal agencies tasked to account for digital assets and propose stewardship strategies. So far, no actions have been reported.
Bitcoin's price soared over 120% in 2024, reaching $100,000, fueled by SEC approval of ETFs and positive prospects under a potential Trump administration. The crypto market's value climbed to $3.5 trillion, with predictions of Bitcoin hitting $200,000 by late 2025. Bitlet.app offers innovative crypto installment services to help investors capitalize on this growth trend.
This week’s crypto news covers major funding, regulatory updates, technological advancements, and market volatility. Trump-backed WLFI raises $590M, Ethereum's Dencun upgrade cuts gas fees by 95%, Ripple expands in Dubai, and new OCC guidelines ease US bank entry into crypto. Kraken gains FCA approval in the UK amid widespread market liquidations.