Stu Alderoty

Jump Crypto president resigns amid CFTC investigation. Kanav Kariya, the president of Jump Trading’s digital asset arm, Jump Crypto, has stepped down amid reports of an investigation by the Commodity Futures Trading Commission (CFTC). Kariya announced his resignation on June 24 via social media, stating he plans to focus on personal relationships and reading while seeking his next venture. The details of the CFTC investigation into Jump Crypto remain unclear, but it may involve trading activities mentioned in the investor lawsuit and the SEC’s case against Terraform Labs. #Secret3 #cryptonews #blockchain #defi #cryptocurrency Read more: https://lnkd.in/gQchPGii

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Coinbase CLO Exposes SEC Double Standards on Crypto Rules ➡️ Read All : https://lnkd.in/eQ6KAwrF Coinbase’s Chief Legal Officer, Paul Grewal, has raised concerns over the U.S. Securities and Exchange Commission’s (SEC) inconsistent stance on crypto classification. Grewal pointed out... [...] #Coinbase #SECCryptoStance #DigitalAssets #RippleCase #RegulatoryScrutiny #Crypto #Legal #NBTC

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📢 Alert: California Crypto Licensing Targeted For Delay 📢 Our Founder & President, Joe Ciccolo, in his capacity as Executive Director of the California Blockchain Advocacy Coalition (CBAC), was recently featured in Bloomberg discussing possible delay of crypto licensing in California until 2026. Joe's insights shed light on how this delay could provide much-needed breathing room for crypto businesses, and regulators, as they navigate the complexities of implementing an entirely new regulatory regime. CBAC is the voice of the Web3 industry in California, advocating for the crypto and blockchain industry. Check out the full article to learn more about the possible delay and what this means for crypto and consumers in California. 📰✨ #CryptoNews #Regulation #Blockchain #DFPI #Bloomberg #Innovation #California https://lnkd.in/gSgh-rvt

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In today’s Lowenstein Crypto client alert, Lowenstein’s Ethan Silver, Will Brannan, and Trevor Levine explore the CFTC’s recent settlement with Uniswap Labs, emphasizing the CFTC regulatory challenges and enforcement trends in the DeFi space. Read the full alert: https://bit.ly/3MEYq4s #cryptonews #regulatorycompliance #cryptocurrency #cryptolaw #investmentmanagement #cftc

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Frictionless Markets partners with Coinbase Institutional for Trade, Execution, and Custody Services https://lnkd.in/eJMFawg4 Kazuhiko Yasuda - Head of Institutions & Partnerships at Frictionless Markets "By choosing Coinbase Prime, Frictionless Markets is ensuring that our clients have access to industry-leading security and liquidity solutions, enabling us to deliver the next generation of capital markets access to digital assets" Follow us at Frictionless Markets for upcoming announcements on The Frictionless BTC Yielding Money Market Fund. #tokenization #coinbase #deposittokens #on-chain #RWA #frictionlessmarkets

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The SEC has been cracking down on digital assets without congressional approval, and now 18 state attorneys general are pushing back. Their lawsuit challenges the SEC’s authority and could change the future of crypto regulation. Get the full story on what’s at stake: https://lnkd.in/gMugeZ-V

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John D’ Agostino, our new director in AKJt and head of strategy at Coinbase institutional unit, was quoted in The Wall Street Journal, discussing crypto banking. In short – crypto funds were 6X more likely to be denied basic banking functions than non-crypto funds.  While the survey did not speak to reasons why, those of you who are in the asset management business know it is unlikely that banks would refuse such low risk business as subscription/redemption and operating accounts without external influence. This appears to be coming out now due to FOIA requests and banking executive testimonials.   Happy holidays!

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Ryan Bozarth, former CEO of Coinbase Custody, has launched Dakota, a crypto-native banking platform designed to offer reliable financial services to crypto startups and foundations. Dakota leverages stablecoins backed by U.S. Treasuries to provide global business accounts, enabling seamless cross-border transactions and access to competitive yields. The platform aims to bridge the gap between traditional banking and the crypto industry, addressing challenges such as slow money transfers and limited access to financial services for crypto businesses. 

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Join Michele Korver, head of regulatory at a16z crypto, and Brian Quintenz, head of policy for a16z crypto, as they delve into the nuances of policy and regulatory matters. In this talk, they discuss the key differences and similarities between these areas and provide practical advice for web3 startups on how to navigate both effectively. https://lnkd.in/g7tzPXiq

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Gary Gensler to Resign as SEC Chair Amid Key Crypto Regulation Shifts  ➡️ Read All : https://lnkd.in/egJQsdBA Gary Gensler will leave his SEC role in January 2025 after years of focused crypto enforcement. The SEC now faces delays in policies as leadership... [...] #GaryGensler #SECResignation #CryptoEnforcement #RegulatoryUncertainty #CryptoLeadership #Crypto #Legal #NBTC

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🚀 Breaking Barriers in Crypto: Meet Matthew Homer, the Regulatory Maverick Turning Heads in Venture Capital! 🚀 In a sector where former regulators typically transition into roles as legal counsels or advisors, Matthew Homer is carving a unique path. After spearheading crypto oversight at the New York Department of Financial Services, Homer has launched his own venture firm, Department of XYZ, which just secured a robust $5.1 million in funding. What sets Department of XYZ apart? It's not just another venture capital firm; it's a pivotal regulatory advisory resource for #startups. With a strategic focus on financial infrastructure, stablecoins, and #DeFi platforms, XYZ is poised to guide startups through the complex regulatory landscape, ensuring they not only survive but thrive. 🌟 Key "We're not going to be your largest check, but what we are going to be is your regulatory friends on speed dial," says Homer. This approach is crucial in an industry where understanding and navigating regulations can mean the difference between success and failure. XYZ's advisory board reads like a who's who of industry experts, from former regulators to top #crypto players like Robert Leshner and the Winklevoss twins, ensuring a well-rounded perspective on each investment. As the crypto world continues to evolve, having a firm like Department of XYZ on your side could be your strategic advantage. For startups navigating the choppy waters of crypto regulations, a partner like Homer’s firm isn't just valuable; it's essential. #CryptoInvestment #BlockchainInnovation #vc 👉 Discover how a focus on regulatory expertise can elevate your crypto journey. Visit Semoto's website to connect with top-tier blockchain advisors and venture forward with confidence.

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UPDATE: Pending Legislation AB 1934 Likely Delaying Crypto Licensing to 2026 As the California Legislature enjoys its summer recess, CBAC would like to pause from our work in the Capitol to share in an important update… The most recent version of Assembly Bill 1934 (AB 1934), the so-called "clean-up bill" originally aimed at addressing the Governor's concerns with AB 39 (the Digital Financial Assets Law or “DFAL”), includes language that would postpone implementation of digital assets licensing in California until July 1, 2026. We at CBAC support delaying implementation. The significant budget deficit in California has made it extremely difficult for state agencies to secure any additional funding to focus on enforcement and implementation. Consequently, the Department of Financial Protection and Innovation (DFPI) would be unable to invest and build out the necessary infrastructure to support DFAL license applications and oversight. DFPI’s original budget request (linked below) called for the hiring of more than 100 personnel and over $30 million for implementation of DFAL. Thanks to the active engagement of CBAC and our members, DFPI has made it clear to the Legislature and to the Governor's Office that the licensing process must be built on a solid foundation, citing the failures of the NYDFS when rolling out the BitLicense. Returning to AB 1934, the most recent version of the bill would, in addition to delaying licensure until 2026, also delay other elements of the bill including consumer disclosures and registration of stablecoin issuers, while clarifying that license applications must be received by July 1, 2026, rather than having been granted by that date. CBAC has and will continue to support a strong, well-architected rollout of digital asset licensing and regulatory oversight. We are pleased that Assembly Chair Grayson and the Legislature share our concerns for any piecemeal rollout of crypto regulation, which would harm industry innovation and hinder DFPI's ability to protect consumers in the marketplace. While CBAC remains optimistic, we must stress that AB 1934 is an active bill and as such is subject to revision. That said, we welcome your active participation and input as the bill moves forward and we continue to engage members of the Legislature. Let us know what you think. Want to get involved, email our President & Executive Director, Joe Ciccolo – joe@blockadvocacy.com

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NASD seeks compliance with SEC’s rule on trading unlisted securities NASD OTC Exchange has called on public limited companies to comply with the rule of the Securities and Exchange Commission (SEC) that specifies that securities of public unlisted companies be mandatorily traded on a SEC-registered Over-the-Counter Exchange.

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