Regulatory Policy

White House Crypto Adviser To Banks: Don’t Panic Over Stablecoin Returns

White House crypto adviser Patrick Witt advises banks not to panic over stablecoin yield programs, arguing they are not an existential threat. He suggests banks and crypto firms can coexist by offering similar products, and a compromise on rewards is possible. The core dispute over allowing platforms to pay rewards is holding up the CLARITY Act, a key crypto bill defining regulatory roles for the SEC and CFTC. Lawmakers face a narrowing window to reach a deal before the midterm elections potentially fracture the bipartisan coalition. The White House is pushing for a solution to provide legal certainty and unlock institutional capital currently waiting for clearer rules.

bitcoinist2 days ago 21:02

New Binance Controversy: Investigators Alleging Iranian Sanctions Violations Fired

Binance faces new allegations from a Fortune report that its internal investigators identified over $1 billion in transactions potentially linked to Iranian entities, conducted via Tether on the Tron blockchain between March 2024 and August 2025, which may violate US sanctions. Following their internal reports, at least five compliance team members, including senior investigators, were dismissed, and four others resigned or were forced out. The report raises serious concerns about Binance's compliance controls, especially given its 2023 guilty plea for AML violations and ongoing government monitorship. Former CEO Changpeng Zhao rejected the claims, suggesting investigators may have been fired for performance failures and questioning the reliability of anonymous sources.

bitcoinist2 days ago 15:02

Valentine’s Day Crypto Warning: US Attorney Issues Crypto-Fueled Romance Scam Alert

The US Department of Justice has issued a Valentine’s Day warning about cryptocurrency-fueled romance scams. Fraudsters typically approach victims on dating sites or social media, using fake profiles and stolen photos to build emotional trust over weeks or months. They then fabricate emergencies and request payments in crypto, gift cards, or wire transfers—methods that are difficult to reverse. Recent cases include a Colorado man who lost $1.4 million after meeting a woman on a dating app who persuaded him to invest in crypto. According to Chainalysis, crypto scams received at least $14 billion in 2025, with impersonation scams surging by 1,400% compared to the previous year. Authorities advise conducting reverse image searches, consulting trusted friends before sending money, and reporting suspicious activity to the FBI.

ccn.com2 days ago 14:09

Russia Weighs Stablecoin Shift Amid Policy Rethink

Russia's central bank is reconsidering its opposition to stablecoins, marking a potential shift in its digital asset policy. First Deputy Chairman Vladimir Chistyukhin confirmed the bank will study the feasibility of issuing a domestic stablecoin. While not an approval, this reflects a deeper strategic reassessment, influenced by global regulatory developments like the U.S. GENIUS Act and E.U. MiCA framework. A Russian stablecoin would likely be state-controlled, focusing on monetary compliance, trade settlements, and reducing dependence on Western financial infrastructure. This move could institutionalize stablecoins further, fragment the market dominated by dollar-backed alternatives, and carry geopolitical implications for digital currency competition. The initiative remains exploratory but underscores stablecoins' growing strategic role in global finance.

TheNewsCrypto2 days ago 12:55

‘We’ll get it done’: White House calls CLARITY Act a regulatory unlock

The White House, through Trump's digital assets advisor Patrick Witt, expresses strong commitment to passing the CLARITY Act, a crypto market structure bill, before the midterm elections. Witt acknowledges that stablecoin yield remains the key sticking point but believes regulatory clarity is crucial to unlock trillions in institutional capital waiting to enter the crypto space. A third meeting is planned for next week to broker a compromise between crypto and traditional finance industries after some progress was made in recent negotiations. While the U.S. Treasury Secretary notes the bill's positive momentum would boost market sentiment, prediction markets are skeptical, pricing only a 36% chance of passage by June.

ambcrypto2 days ago 11:17

US Treasury Secretary Urges Congress To Pass Crypto Market Structure Bill This Spring

US Treasury Secretary Scott Bessent has urged Congress to pass the stalled crypto market structure bill, the CLARITY Act, this spring to provide market reassurance amid recent volatility. He noted that some industry opposition has contributed to instability and emphasized the importance of bipartisan cooperation to advance the legislation. Bessent warned that the opportunity could diminish if Democrats gain control of the House in November. Patrick Witt of the Crypto Council also discussed the bill's progress, highlighting that the Senate Agriculture Committee portion has passed, but the Banking Committee's section remains pending. He called for compromise to address issues like stablecoin regulations without derailing the broader bill, which includes key measures on regulatory clarity and developer protections.

bitcoinist2 days ago 11:02

Crypto Group Pushes Back on CLARITY Act Bank Plan

The Digital Chamber, a crypto trade association, has pushed back against proposals from major U.S. banks in the ongoing debate over the CLARITY Act. While acknowledging the banking sector's concerns about stablecoin yields potentially undermining traditional deposits, the group rejected automatic regulatory rules following a proposed two-year study. CEO Cody Carbone indicated openness to compromise, such as limiting interest-like features, but insisted on preserving incentives for transactions and innovation. Recent White House meetings between industry and banking stakeholders failed to produce an agreement, with both sides maintaining their positions. Patrick Witt of the President’s Council of Advisors warned that the narrowing legislative window before midterm elections adds urgency to reaching a compromise. The core dispute remains whether yield-paying stablecoins threaten financial stability or represent technological progress. With time running out, the fate of the CLARITY Act—which aims to provide regulatory clarity for digital assets—hangs in the balance.

TheNewsCrypto2 days ago 10:09

Binance’s CZ slams $1B Iran sanction allegations as ‘paid FUD’

Binance faces new allegations of compliance failures, with a Fortune report claiming the exchange processed $1 billion in transactions for sanctioned Iranian entities in 2025 and fired investigators who uncovered the activity. Founder Changpeng Zhao (CZ) dismissed the report as "paid FUD" or the work of a disgruntled ex-employee, while CEO Richard Teng called it irresponsible but acknowledged compliance is an ongoing challenge. The allegations come despite Binance's 2023 plea deal with the DOJ, which included independent monitoring until 2027. Iran's crypto activity surged to $10 billion in 2025, half linked to its government, raising U.S. Treasury concerns. Despite the claims, Binance saw stable reserves and no significant outflows, with BTC holdings even increasing.

ambcrypto2 days ago 10:02

French Police Arrest Trio After Attempted Kidnapping of Binance Leader

On February 12, 2026, an armed group attempted to kidnap Binance's French president, David Princay, near Paris. The hooded assailants, armed and searching for him at his residence, fled upon finding him absent but stole two mobile phones. Hours later, a similar assault occurred nearby, with investigators linking both incidents via CCTV footage of the same vehicle. French police coordinated a search, leading to the arrest of all three suspects on a train to Lyon later that day. Binance co-founder Yi He confirmed Princay and his family are safe. Authorities noted a rise in real-world crimes targeting crypto executives, shifting from online hacks to physical kidnapping attempts, emphasizing the growing need for personal security in the crypto industry.

TheNewsCrypto2 days ago 09:38

Crypto’s Dark Side: Funds To Suspected Human Traffickers Climb 85% In 2025

bitcoinist2 days ago 04:02