Regulation
Paul Atkins To Face Nomination Hearing for US SEC Chair Role
US Securities and Exchange Commission (SEC) Chairman nominee Paul Atkins will appear before the Senate Banking Committee for his long-awaited confirmation hearing in the coming week. The committee will decide whether Atkins is a suitable replacement for Gary Gensler and will also consider other pro-crypto nominations.
Paul Atkins US SEC Chair Hearing
According to the released schedule, the US Senate hearing for Atkins is scheduled for Thursday, March 27.
In addition to this hearing, the Senate panel intends to weigh the nomination of Jonathan Gould to serve in the Office of the Comptroller of the Currency. Anyone who occupies this office is responsible for overseeing U.S. national banks. This is a key area of interest for crypto firms, especially to reverse the debanking menace permanently.
Before now, Paul Atkins served as a commissioner with the US SEC but is very supportive of digital asset initiatives.
He was in charge of a Washington firm that managed clients with financial compliance issues. The broader crypto ecosystem expects him to sustain the pro-crypto momentum that President Donald Trump brought to the US following his inauguration.
Paul Atkins the Trump Choice for SEC
In December, President Donald Trump nominated Paul Atkins as the next chair of the SEC, citing his pro-crypto stance.
Trump also highlighted that Atkins is a proven leader in “common sense” regulations. At the time, several market observers pointed out the SEC’s regulation-by-enforcement approach.
Prior to his confirmation, Trump designated Mark Uyeda as acting Chairman. Uyeda has upheld the president’s pro-crypto agenda, and Atkins is expected to maintain the current status quo.
In the long term, he is expected to implement policies that favor the crypto ecosystem, which may eventually change the regulatory outlook of the region and attract more investors.
US SEC Turnaround Under Mark Uyeda
Mark Uyeda has served as the SEC’s interim chairman since January 20, when Trump was inaugurated.
In this position, many changes have come to the crypto ecosystem within two months. Some lawsuits against crypto firms have been retracted. While it started with the Coinbase lawsuit, other cases tied to Uniswap, Robinhood Crypto, OpenSea, and Kraken have also been closed.
The US SEC closed the Ripple lawsuit earlier this week, a major pivot that shows no legal obligation for Paul Atkins if confirmed. Similarly, the US President also recently signed an executive order establishing the strategic Bitcoin reserve.
This reserve, according to industry leaders, may also expand to altcoins like XRP soon.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The US Treasury Department officially clarified that the Tornado Cash crypto mixing service is no longer on the Specially Designated Nationals (SDN) list. The move comes after a federal court in late 2024 passed a verdict that the immutable smart contracts on the protocol could not be regarded as “property” under the anti-sanctions law. The move prompted a rapid 50% surge in the value of the TORN token shortly after the announcement.
Tornado Cash Sanctions Lifted by U.S.; TORN Token Jumps Over 60% in Minutes
The U.S. Treasury Department has delisted Tornado Cash today. The change was reflected in the updated Specially Designated Nationals (SDN) list maintained by the Office of Foreign Assets Control (OFAC). Ethereum addresses connected to Tornado Cash were also delisted.
This decision came following a decision made in November 2024 by the U.S. Court of Appeals for the Fifth Circuit. The court affirmed that smart contracts used by Tornado Cash were not considered to be property under the International Emergency Economic Powers Act. As a result, the Treasury no longer had the authority to sanction those contracts.
Following the announcement, the TORN token saw a dramatic price rise. It surged over 50% within minutes, with increased trading activity on major exchanges. Additionally, the 24-hour trading volume spiked by 950% to $1.79 million. Market analysts attributed the spike to renewed confidence in the protocol’s legal standing.
Legal Scope of Smart Contracts
In November 2024, the Fifth Circuit Court ruled against OFAC’s designation of Tornado Cash’s smart contracts. The court clarified that immutable, self-executing code does not qualify as property. This legal distinction was central to the delisting.
OFAC originally sanctioned Tornado Cash in August 2022. The agency cited its use in laundering over $7 billion in crypto assets. However, the recent court ruling limited the reach of sanctions under current U.S. law.
The Treasury Department responded by beginning the delisting process on March 18, 2025. The update became official three days later.
Earlier this month, Coinbase’s Chief Legal Officer, Paul Grewal, criticized the U.S. Treasury for partially defying a court ruling that invalidated sanctions on Tornado Cash. Grewal and other industry leaders condemned the move, arguing that it undermined congressional oversight.
Developers Still Face Charges
Although the protocol is no longer sanctioned, legal proceedings against its developers continue. Roman Storm, one of the co-founders of Tornado Cash, faces trial in July 2025. He was charged with money laundering and sanctions violations in August 2023.
Roman Semenov, another co-founder, remains on the SDN list. However, the cyber-related tag has been removed. He is still designated under North Korea-related sanctions. Lazarus Group, which is a North Korean cybercrime group, is accused of using Tornado Cash in several crypto thefts. Some of them include $455 million from the Ronin Bridge hack, $96 million from the Harmony Bridge theft, as well as $7.8 million from the Nomad exploit.
Recently, the Ethereum Foundation contributed $1.25 million for Alexey Pertsev’s defense stating that open-source and privacy projects should be defended.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The US Securities and Exchange Commission (SEC) has issued a statement on the status of Proof-of-Work cryptocurrency mining activities. According to the guidance, these mining activities will not come under existing securities rules, sending waves of excitement across the cryptoverse.
SEC Says Proof-Of-Work Mining Are Not Subject To Securities Laws
The US SEC is galloping toward crystal-clear regulations for cryptocurrencies and the last is a guidance on the status of protocol mining activities. According to a statement released by the SEC, Proof-of-Work mining activities will not be subject to existing securities obligations.
The SEC’s Division of Corporation Finance released the guidance, clarifying that the exemption applies to only Proof-of-Work mining activities. A community reading of the statement notes that the exempted activities are limited to only public blockchain networks.
“Accordingly it is the Division’s view that participants in mining activities do not need to register their transactions with the Commission under the Securities Act or fall within one of the Securities Act’s exemptions from registration in connection with these Mining Activities,” read the SEC’s statement.
Per the guidance, individual miners or mining pool participants are not required to register their transactions with the SEC. The move follows an earlier declaration by the SEC that memecoins are not securities amid a changing stance by the regulator.
The Commission hinges its decision to exempt “Covered Crypto Assets” from securities obligations based on its exclusion in section 2(a)(1) of the Securities Act. Furthermore, the application of the Howey test indicates that the proceeds of protocol mining do not constitute investment contracts.
Industry Braces For Incoming Positive Regulations From The Commission
The SEC is steamrolling towards the first of several roundtables with industry stakeholders led by its Crypto Task Force. Ahead of the discussions, the US SEC is keen on creating on creating a regulatory framework for digital securities.
Furthermore, Coinbase has presented a blueprint to the SEC urging the regulator to launch guidance to distinguish securities from commodities. Coinbase CLO Paul Grewal opines that clear rules will lead to the emergence of a vibrant market for tokenized securities.
Despite the push toward clarity, the SEC faces a FOIA request over the cost of its enforcement actions. The SEC is extricating itself from the previous pattern of regulation by enforcement, opting for clear-cut rules for the sector.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
As parties sheath their swords after a protracted legal saga, Coinbase has presented a blueprint to the US SEC for digital asset regulation. The proposal involves suggestions to the SEC for regulating digital securities ahead of its Crypto Task Force roundtables.
A Four-Point Blueprint For Digital Asset Regulation
Coinbase Chief Legal Officer Paul Grewal revealed on X (formerly Twitter) that the US-based exchange has put forward a blueprint for digital securities regulation. According to Grewal, Coinbase’s proposal is a response to a raft of questions presented by SEC Commission Hester Pierce on the best way to regulate digital securities.
While the law is crystal clear on traditional securities, digital securities are a gray area for the Commission given the novelty of the concept. To address Pierce’s questions, Coinbase presented a detailed blueprint to assist the securities watchdog.
The first step in Coinbase’s proposal is for the SEC to create a “clear taxonomy” for the distinction between cryptocurrency commodities and securities. Secondly, the SEC is encouraged to declare that secondary market sales of commodities are not securities transactions. As the regulatory haze clears, the SEC has dismissed its Ripple lawsuit, shuttering similar actions against Coinbase and Kraken.
Thirdly, rather than creating rules on the go, Coinbase wants the SEC to seek Congressional opinion in areas of ambiguity. Lastly, the blueprint urges the SEC to make rules that recognize the potential of Web 3 and tokenized securities.
“If we get this right, we will finally see a real tokenized securities market led by the US,” said Grewal.
A Rising Trend Of Collaborating With The SEC
The US SEC is changing stances toward the cryptocurrency industry following the departure of Gary Gensler. A newly minted Crypto Task Force led by Pierce is inching toward a series of roundtables to define security status.
Several key ecosystem players have indicated a desire to collaborate with the SEC in its “Spring Sprint Toward Crypto Clarity.” While Coinbase is collaborating with the SEC, it has filed a FOIA request against the Commission, seeking clarity for its enforcement actions.
“The previous SEC spent four years attacking a lawful industry, and American taxpayers were left holding the bill,” said Coinbase.
Outside of its row with US regulators, Coinbase has re-entered India to offer retail trading services. The largest cryptocurrency exchange in the US is expanding to new frontiers to keep pace with its peers.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
TORN Token Rally 60% As US Treasury Drops Sanctions on Tornado Cash
Is Trump Tanking the Market on Purpose? Experts Weigh In
KAVA Coin Surges to 30-Day High, Defying Market Downturn
Is Binance Favoring BNB Chain in Token Listings and Delistings?
Can Shiba Inu Price Hit $0.01 As SHIB Burn Rate Rockets 500%?
HBAR Traders Bet On Recovery, But Price Continues Falling
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market23 hours agoWhy $2.66 Is The Most Important Level To Beat
-
Market22 hours agoSolana Faces Overvaluation: Price Stagnation Ahead?
-
Ethereum19 hours agoEthereum CLS Shows Price Will Rebound Above $2,600, Here’s Why
-
Altcoin18 hours agoAnalyst Confirms XRP Price Is Still On Path To $130
-
Market17 hours agoSEC Likely to Approve Multiple Altcoin ETFs by Q2 2025
-
Market21 hours agoBNB Chain Overtakes Solana in Weekly DEX Trading Volume
-
Market20 hours agoHere’s Why XRP Holders Will Likely Drive Price To $3.00
-
Regulation20 hours agoUS SEC Exempts Proof-Of-Work Mining From Security Obligations
✓ Share: