In a significant step toward comprehensive cryptocurrency regulation in the United States, the Senate moved closer to final approval of a long-anticipated digital assets bill. On Wednesday, the upper chamber voted 68–30 in favor of advancing a revised legislative proposal that incorporates a set of bipartisan amendments negotiated over several weeks of procedural delays and political friction.
In a landmark case following the collapse of the cryptocurrency lending platform Celsius Network, Alex Mashinsky, the company’s founder and former CEO, has been sentenced to 12 years in prison. This conviction, related to securities and commodities fraud, serves as one of the most severe punishments connected to the 2022 crash of the cryptocurrency markets. Mashinsky's sentencing on Thursday by U.S. District Judge John Koeltl in Manhattan highlights the growing regulatory scrutiny and legal consequences for those involved in major financial failures within the crypto space.
On Monday, Bitcoin experienced a notable recovery, climbing by 5% compared to its low points from the previous week. Alongside Bitcoin, several other digital assets also saw sharp price increases. These developments appear to be linked with recent statements from former U.S. President Donald Trump regarding the inclusion of select cryptocurrencies in a new strategic reserve.
In a significant regulatory shift, the U.S. Securities and Exchange Commission (SEC) on Thursday filed a motion to dismiss its lawsuit against Coinbase $COIN, the nation's largest cryptocurrency exchange. This move marks a departure from the original aggressive enforcement stance taken during the presidency of Donald Trump. In 2023, the SEC initiated legal action against Coinbase, asserting that the exchange facilitated the trading of at least 13 cryptocurrencies that, according to the regulator, should have been registered as securities.
