Treasury withdraws crypto surveillance rules

OKXICE, a 50/50 joint venture between NYSE owner Intercontinental Exchange (ICE) and crypto exchange OKX, has filed with regulators to launch a tokenized stock-trading platform. The company is among the first to notify the SEC of its plan to launch after the SEC cleared a path for tokenized stocks via two five-year innovation exemptions. OKXICE said it intends to launch trading for more than 60 U.S.-listed companies on X Layer, a blockchain developed by OKX. Read more →

Blast, the L2 that drew over $2B in deposits pre-launch, is shutting down after concluding that operating costs exceed revenue with no credible path to sustainability. Its native token, BLAST, fell 19% after the announcement and is now down about 98% from launch. In the end, Blast just was unable to compete in the L2 space against BASE and Robinhood Chain. Read more →

Today, the Department of Treasury is clearing two long-pending cryptocurrency rules off the books that Coin Center has fought against for years: the FinCEN’s proposed rules targeting so-called “unhosted wallets” and cryptocurrency mixing. Both threatened to dramatically expand financial surveillance of cryptocurrency users, and Coin Center repeatedly urged Treasury to abandon them. Their withdrawal is seen as a victory for financial privacy and for the principle that Americans should be able to use crypto directly without inappropriate government surveillance. Read more →

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