• Rep. French Hill (R-Arkansas) is the chair of the newly formed Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion.
• The committee’s top priority is to draft and pass a stablecoin regulation.
• Hill stated that the committee will also be looking into privacy statutes, digital asset legislation, and how to create better access for consumers.

The United States House of Representatives has recently created a new Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion. Rep. French Hill (R-Arkansas) is the chair of the subcommittee, and he has outlined the goals and objectives of the committee.

The primary focus of the committee is to create a comprehensive and effective framework for the regulation of stablecoins. Hill noted that the subcommittee plans to use its draft of stablecoin regulation as a model for how to approach digital asset regulation in the future.

In addition to stablecoin regulation, Hill and the subcommittee are also looking into other digital asset legislation, privacy statutes, and ways to improve consumer access. He noted that one of the committee’s goals is to determine which agency, the SEC or the CFTC, should have explicit oversight.

The committee members are currently working on legislation that will give clear guidance to the crypto industry. The legislation will also provide consumer protection and ensure that digital assets are used in a safe and responsible manner.

Hill is confident that the committee can create effective legislation that will help foster innovation and economic growth in the digital asset space. He is hopeful that the committee can provide clarity and guidance to the industry and that the committee can be a leader in digital asset regulation.

Overall, Hill and the committee are attempting to create a framework that will facilitate the growth of the digital asset industry while still protecting consumers. The committee’s ultimate goal is to provide a safe and secure environment for digital asset users and investors.

• Timothy Stranex, the co-founder and chief technology officer (CTO) of cryptocurrency exchange Luno, left the company in December to pursue personal projects.
• Luno, which is owned by Digital Currency Group, has over 10 million customers worldwide and is headquartered in London with offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney.
•Simon Ince has replaced Stranex as the company’s CTO.

Cryptocurrency exchange Luno recently announced the departure of its co-founder and chief technology officer (CTO) Timothy Stranex in December. He and three other co-founders originally launched the company nearly 10 years ago and his departure marks a major shift in the company.

Luno, which is owned by Digital Currency Group (also the parent company of CoinDesk), has over 10 million customers worldwide and is headquartered in London with offices in Singapore, Cape Town, Johannesburg, Lagos and Sydney. The company says that Stranex’s departure is to pursue personal projects and he has been replaced by Simon Ince, who joined Luno just under two years ago as its vice president of engineering.

Stranex’s exit is a significant loss for Luno, due to his long-term involvement with the company. He was one of the four co-founders of the company, alongside Carel van Wyk, Pieter Heyns and current CEO Marcus Swanepoel, who will now lead the company on its own. Over the years, Stranex played a key role in developing the company’s technology and expanding its worldwide customer base.

Ince, the new CTO, brings over 15 years of experience in software engineering, product management, and innovation. He has previously held positions at Amazon, Intel, and Microsoft, and has experience in developing and launching products in the cloud, mobile, and desktop space. He holds a Bachelor’s degree in Computer Science from the University of Washington.

The news of Stranex’s departure has been met with mixed reactions from the crypto community. While some are praising Ince’s appointment and looking forward to what he brings to the table, others are concerned that Luno may struggle without its original co-founder.

Only time will tell how the company will fare without Stranex, but the future is looking bright for Luno, as it continues to expand its customer base and develop its technology. With Ince as its new CTO, the company is poised to reach new heights and continue to be a leading exchange in the crypto space.

-The Certified Financial Planner Board of Standards (CFP Board) and the Chartered Financial Analyst Institute (CFA Institute) have recently made major announcements regarding cryptocurrency investing and advice.
-The CFP Board issued guidelines in November in a “Notice to CFP Professionals Regarding Financial Advice About Cryptocurrency-Related Assets”, which will govern how holders of the CFP certification must conduct themselves when providing advice about cryptocurrencies.
-The CFA Institute also recently announced changes to its curriculum to include a course dedicated to crypto and blockchain, indicating increasing institutional interest in the space.

The world of cryptocurrency and blockchain has been making waves in the financial industry over the past few years. With the emergence of digital assets such as Bitcoin, Ethereum, and others, traditional financial institutions and regulators have had to take notice and adapt their policies to include these new digital assets. Two of the largest and most influential organizations in the industry are the Certified Financial Planner Board of Standards (CFP Board) and the Chartered Financial Analyst Institute (CFA Institute).

The CFP Board recently issued guidelines on how holders of the CFP certification must conduct themselves when providing advice about cryptocurrencies. The guidelines, which were issued in the form of a “Notice to CFP Professionals Regarding Financial Advice About Cryptocurrency-Related Assets” in November, outline the expectations and responsibilities of CFP professionals when offering advice about digital assets. In addition to the CFP Board’s guidelines, the CFA Institute also recently announced changes to its curriculum to include a course dedicated to crypto and blockchain. This indicates that there is increasing institutional interest in the space, and that the industry is moving towards greater acceptance of digital assets.

Both the CFP Board and the CFA Institute have made it clear that they expect financial professionals to be well-versed in the risks and opportunities of investing in cryptocurrencies. They recommend that professionals do their due diligence and research before providing advice on digital assets to their clients. Additionally, the CFP Board has warned advisors to be cautious when dealing with clients who wish to invest in cryptocurrencies, as these investments can be extremely volatile.

Overall, the announcements from both the CFP Board and the CFA Institute demonstrate that the industry is taking digital assets increasingly seriously. As digital assets become more mainstream, it is important that financial professionals understand the risks and benefits associated with investing in them, and that they adhere to the guidelines set out by these two organizations. This will help ensure that investors are making informed decisions when investing in cryptocurrencies, and that they are doing so in a safe and regulated manner.

• Crypto lender Genesis owes its creditors over $3 billion, prompting parent company Digital Currency Group to consider selling its venture-capital portfolio worth $500 million.
• Gemini has terminated its key relationship with Digital Currency Group’s Genesis Global Trading, its partner on a crypto lending product pitched to smaller investors.
• Lumida CEO and co-founder Ram Ahluwalia weighs in on the latest tensions escalating between DCG and Gemini.

The crypto lending market is in turmoil as Genesis Global Trading, the Winklevoss twins’ crypto exchange Gemini’s partner on a crypto lending product pitched to smaller investors, is in hot water with its parent company, Digital Currency Group (DCG). Genesis, which is owned by DCG, is reportedly in debt to its creditors to the tune of $3 billion, and has been looking to offload its venture-capital portfolio, worth around $500 million, to help pay the debt.

The news was reported by the Financial Times on Thursday, citing sources close to the matter. The publication also reported that Gemini had escalated its dispute with DCG by terminating a key aspect of their relationship. This move has prompted Lumida CEO and co-founder Ram Ahluwalia to weigh in on the latest tensions between DCG and Gemini.

The news of Genesis’ financial burden has sent shockwaves across the crypto lending market, with many investors wondering how the situation will play out. DCG, which owns both Genesis and CoinDesk, is now looking to offload its venture-capital portfolio in order to help pay its creditors. This portfolio is said to be worth around $500 million, and could help to alleviate some of the debt.

It is still unclear how much of the debt can be paid off by selling this venture-capital portfolio, and what the long-term implications of this move will be for Genesis, DCG, and the wider crypto lending industry. One thing is certain, however; the move has caused tensions to escalate between DCG and Gemini, as the latter has terminated a key aspect of their relationship due to the situation.

Lumida CEO and co-founder Ram Ahluwalia has weighed in on the tensions, saying that, “It’s clear that things have become heated between DCG and Gemini, and it is likely that this situation will have a knock-on effect on other players in the crypto lending market.” He also said that the news of Genesis’ financial burden will likely cause further uncertainty in the industry, and that clarity on the matter is needed as soon as possible.

It is clear that the situation between DCG and Gemini is far from over, and that it could have major implications for the crypto lending market. The ramifications of the news are yet to be seen, but it is certain that the situation is one to watch closely.