Connect with us

Regulation

Ripple CEO Endorses John Deaton To Unseat Senator Warren

Published

5 months ago

on


Ripple CEO Brad Garlinghouse has endorsed John Deaton, a pro-XRP lawyer, in his bid to unseat Senator Elizabeth Warren in the Massachusetts Senate race. Garlinghouse praised Deaton for his advocacy for the crypto community, particularly the XRP Army, while accusing Warren of spreading misinformation about the industry.

Ripple CEO Brad Garlinghouse Backs John Deaton’s Campaign

In a recent post on X (formerly Twitter), Garlinghouse shared a link to Deaton’s campaign website and asked people to donate money to the campaign and, if they live in Massachusetts, to vote for Deaton. According to Garlinghouse, Deaton is a true fighter for the entire crypto industry and is much more suitable for the post than Warren.

The endorsement of Ripple CEO comes at the back of the ongoing feud between crypto enthusiasts and politicians, with Warren as the latter’s advocate.

As a legal representative of XRP holders in the case against the SEC, John Deaton is now amplifying his political aspirations to counter Warren’s position on crypto regulation.

Deaton and Musk Criticize Warren’s Inflation Claims

John Deaton and Elon Musk have both taken to Twitter to criticize Senator Elizabeth Warren regarding her views on inflation. Warren recently blamed the increase in prices on corporate greed that led to criticisms from Deaton and other key personalities in the crypto market.

In response to Warren’s claims, Deaton shifted the blame to government policies, explaining that 80% of all US dollars in circulation have been printed over the last four years by the government.

Musk agreed with Deaton’s position and said that the U.S. could go bankrupt if it does not cut government spending significantly. This public feud has demonstrated the increasing rift between the crypto enthusiasts and politicians like Warren who are considered as enemies of digital currencies.

Crypto Industry Leaders Rally Behind Deaton

The pro-XRP lawyer John Deaton has received a lot of backing from major personalities within the crypto sector, including Tesla CEO Elon Musk and Coinbase CEO Brian Armstrong. Armstrong called on the voters of Massachusetts to vote for Deaton and accused Warren of contributing to the appointment of SEC chair Gary Gensler, who the crypto community considers an opponent.

Armstrong also claimed that Warren called for the government to take control of the financial sector and is attacking the crypto industry to undermine the growth of the industry. He pointed out that even with Warren’s moves, the crypto industry keeps on thriving. Armstrong and other have also highlighted that Deaton has come out in the defense of the rights of the cryptos and therefore support for his bid to join the senate is good.

With the 2024 Senate race around the corner, Senator Elizabeth Warren continues to come under immense pressure from the crypto industry. Warren, a Democrat and a well-known skeptic of the cryptocurrency industry, has long advocated for stronger regulation and has played a major role in defining the US financial policy. Nonetheless, her position has made her unpopular in the crypto community with people like Deaton coming out in support of crypto freedom.

✓ Share:

Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Regulation

Kraken Obtains Restricted Dealer Registration in Canada

Published

23 hours ago

on

April 2, 2025

By


Cryptocurrency exchange Kraken has obtained a Restricted Dealer registration in Canada. The registration comes after completing a pre-registration undertaking (PRU) process with Canadian authorities.

The exchange has also announced the appointment of Cynthia Del Pozo as its new General Manager for North America. Del Pozo will oversee Kraken’s growth initiatives in Canada.

Kraken Completes PRU Process In Canada

Kraken’s Restricted Dealer registration marks the completion of a thorough pre-registration undertaking (PRU) process with Canadian regulators. The registration places Kraken under the supervision of the Ontario Securities Commission (OSC). This oversight ensures users have access to secure crypto products within a properly regulated local ecosystem.

According to the Canadian Securities Administrators (CSA), the Restricted Dealer registration is one of eight firm registration types in Canada. This particular classification is used for firms that “do not quite fit under any other category.” It also comes with specific requirements and conditions set by securities regulators.

Kraken’s regulatory achievement comes during a period of change in the Canadian crypto sector. Just months earlier, competitor Gemini exchange announced its departure from the Canadian exchange market by the end of 2024. This was a move that surprised many and raised questions about cryptocurrency regulation clarity in the country.

Kraken Introduces New Canadian GM

Del Pozo has joined Kraken to lead its Canadian operations as the new General Manager for North America. She has nearly 15 years of experience in corporate development, operations, and fintech consulting. Del Pozo will help to guide Kraken’s expansion across Canada during this important phase of crypto’s development in the region.

“Canada is at a turning point for crypto adoption, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future. I’m thrilled to join Kraken’s mission at this critical moment, and to lead our expansion efforts, ensuring we continue to serve our clients long-term with innovative and compliant products,” said Del Pozo.

In her role, Del Pozo will focus on strengthening Kraken’s regulatory relationships and also scaling the company’s presence throughout North America.

Del Pozo also commented on the registration achievement: “This Restricted Dealer registration is testament to the high bar Kraken has always set for consumer protection, client service, and robust security. We’re excited to continue expanding our world-class investment platform and to deliver innovative products that provide real-world utility to Canadians.”

The Exchange’s Continued Growth In Canada

Over the past two years, the cryptocurrency exchange has shown steady expansion in Canada while working through the PRU process with regulators. During this period, the exchange has doubled its team size and monthly active users.

According to the official blog post figures, the firm now has more than $2 billion CAD in total client assets under custody. Kraken has also increased support for some of the most popular cryptocurrencies. It provides several CAD spot trading pairs that enable Canadians to trade crypto without paying expensive foreign exchange fees.

According to Innovative Research Group’s 2024 Investor Survey, 30% of Canadian investors currently own or have owned cryptocurrencies. Likewise, a KPMG Canada survey discovered that 30% of Canadian institutional investors now have exposure to cryptocurrencies, which means widespread adoption across investor types.

✓ Share:

Vignesh

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.





Source link

Continue Reading

Regulation

USDC Issuer Circle Set To File IPO In April, Here’s All

Published

3 days ago

on

March 31, 2025

By


USDC issuer Circle is reportedly set to file its initial public offering (IPO) in April as part of the firm’s plans to finally go public. The stablecoin issuer is allegedly already working with top financial institutions to achieve this move.

Circle To File IPO In Late April

According to a Fortune report, Circle is looking to file its IPO in late April, although the listing period remains uncertain. The report noted that when a company files to go public, its shares usually begin trading four weeks later, indicating that the listing could occur in May. However, there is also a scenario where the IPO process could drag on for months.

The stablecoin issuer is reportedly working with investment banks JPMorgan Chase and Citi to achieve its long-anticipated IPO. The firm had previously tried to go public in 2021 under a SPAC arrangement with a shell company.

The US SEC failed to sign off on this arrangement back then, and the company eventually scrapped these IPO plans by the end of 2022 when the crypto exchange FTX collapsed and the broader crypto market experienced a downturn.

Revelation about Circle’s IPO plans comes just days after the stablecoin issuer partnered with NYSE’s parent company to explore USDC’s use in traditional finance (TradFi). Meanwhile, the USDC stablecoin recently launched in Japan following approval from the country’s regulator. Notably, USDC is the first and only global dollar stablecoin approved under Japan’s stablecoin framework.

An Easier Path Now For The Stablecoin Issuer

Circle will likely face less resistance for its IPO plans under the current SEC administration. Under acting Chair Mark Uyeda, the Commission has shown its willingness to work hand in hand with crypto firms, which was missing under Gary Gensler’s administration.

US SEC Chair nominee Paul Atkins has also shown his willingness to change the approach that Gensler’s administration adopted towards crypto firms. During his nomination hearing, the SEC Chair nominee promised to prioritize providing regulatory clarity for the industry.

Circle’s IPO listing would be the biggest since the top crypto exchange Coinbase went public in 2021. Interestingly, Coinbase owns an equity stake in the crypto firm.

The firm’s USDC is currently the second-largest stablecoin by market cap, only behind Tether’s USDT. The stablecoin industry is heating up as more financial institutions look to develop their own stablecoin.

Donald Trump’s World Liberty Financial recently revealed plans to launch its USD1 stablecoin, while asset manager Fidelity is also considering doing so.

✓ Share:

Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

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.





Source link

Continue Reading

Regulation

Japan Set To Classify Cryptocurrencies As Financial Products, Here’s All

Published

4 days ago

on

March 30, 2025

By


Cryptocurrency investors in Japan are bracing for impact following a plan to reclassify digital assets as financial products. While the plan has elicited excitement from cryptocurrency enthusiasts in the Far East, the ambitious plan will have to scale several legislative hurdles.

Japan Targets Reclassification Of Cryptocurrencies As Financial Products

According to a report by Nikkei, Japan’s Financial Services Agency (FSA) is inching toward classifying cryptocurrencies as financial products. Per the report, the FSA intends to achieve the reclassification via an amendment to the Financial Instruments and Exchange Act.

Currently, digital assets in Japan are considered crypto assets conferred with property rights and seen as payment means. Under the FSA’s plans, cryptocurrencies in Japan will be treated as financial products in the same manner as traditional financial products.

The FSA says it will adopt a slow and steady approach toward the reclassification, carrying out “a private expert study group” to test the waters. If everything goes according to plan, the FSA will submit the amended bill to Parliament in early 2026.

The classification of cryptocurrencies as financial products will have far-reaching consequences for the local ecosystem. Experts say treating cryptocurrencies as financial products will bring Japan closer to a crypto ETF launch amid a changing regulatory landscape.

Furthermore, the move may lower current cryptocurrency taxation for local investors since existing capital market rules will apply to the asset class.

A Fresh Bill For Crypto Insider Trading Is Underway

Apart from the reclassification, the FSA disclosed plans for new legislation against insider trading. The move flows treating cryptocurrencies as financial products and will strengthen existing investor protection rules.

“It is a direction to establish a new insider trading regulation that prohibits trading based on unpublished internal information,” said the FSA. “We will develop laws to prevent unfair transactions.”

However, Japan’s cryptocurrency scene is heating up to a boil, driven by local and international players. Last week, stablecoin issuer Circle secured approval from the FSA for USDC with top exchanges set to list the stablecoin.

Japan’s Metaplanet has tapped Eric Trump to join its Strategic Board of Advisors as it continues to load up Bitcoin.

✓ Share:

Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

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.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io