A crypto policy expert can run the SEC.

In the United States, we can see a significant shift in cryptocurrency regulation in the future. Paul Atkins, the former commissioner of the Security and Exchange Commission, known for his pro-innovation views, has emerged as the front to lead the agency under the new administration on White. at home.

Atkins previously served as commissioner and staff member under two chairs, Richard Braden and Arthur Levitt, and is known as a securities law expert and balanced regulator. Above all, he has a strong background in digital assets.

According to a profile of Potomac Global Partners, where he serves as CEO, Atkins has been an integral part of industry efforts to develop best practices for digital asset solutions and business platforms since 2017. The Digital Chamber of Commerce aims to formulate policy for tokenized networks and digital asset providers.

His appointment could be a stark contrast to current SEC Chairman Gary Gensler, who is slated to step down in January. Gensler's term is marked by a “regulation by enforcement” approach, which leads to frequent lawsuits and limited guidance for crypto companies.

However, the SEC's role in crypto regulation may become less critical if rumors of shifting digital asset oversight to the Commodity Futures Trading Commission (CFTC) are confirmed, as the agency appears to be more creative. The incoming administration of President Donald Trump is said to be considering this move.

This week's CryptoBiz also explores Singapore's Gulf Bank stablecoin company, Binance delisting tokens, Cantor Fitzgerald's stake in Tether and plans to acquire the first DOGE ETP.

The Binance Delisting sends five signals down 40%

Crypto exchange Binance is set to list five crypto tokens by December 10, which is not in compliance with industry standards. Tokens to be canceled include Gifto (GFT), IRISnet (IRIS), SelfKey (KEY), OAX (OAX), and Ren (REN). Arbitrage, lending and futures positions on these tokens will be closed on December 3rd, while leveraged and cross-margin lending has already been banned. The announcement triggered a significant selloff, causing the tokens to drop 40% on November 26. The exchange did not specify the criteria that the tokens did not meet.

Singapore's Gulf Bank wants $50 million to establish a stable coin

Crypto-friendly digital bank Singapore Gulf Bank It is reported that it will need at least $50 million in funding injection as it plans to acquire a stablecoin payment company in early 2025. Raising money to make money, according to anonymous people with direct knowledge of the matter. The company has been in talks with Middle East sovereign wealth funds and other investors. The funds will be used to upgrade the bank's payments network and to acquire a stablecoin payment firm in the Middle East or Europe in the coming months. Singapore Gulf Bank is managed by the Whampoa Group from its family office in Singapore.

Cantor Fitzgerald acquires 5% stake in Tether for up to $600M: report

Financial services firm Cantor Fitzgerald now owns a 5% stake in the stablecoin issuer Tether, which could give the company more political support from the incoming Trump administration. According to the WSJ, the stake has been valued at up to $600 million. Cantor Fitzgerald was one of Tether's most important banking partners when the Stalkcoin issuer was cut off by many banks around the world. Howard Lutnick, CEO of Cantor Fitzgerald, was named Donald Trump's Commerce Secretary on November 19.

Valor launches DOGE ETP for the first time

Crypto funder Valor has launched its first exchange-traded fund (ETP) for Dogecoin (DOGE). The ETP trades on Sweden's Spotlight Stock Exchange, which allows retail and institutional investors to gain exposure to the world's largest memecoin at market value through a regulated fund wrap. At the fund's launch, DOGE's market capitalization surpassed that of Porsche on Nov. 27, reaching $57.8 billion. The price of memecoin has increased by 175% in the past month, and some crypto traders are predicting a possible 1,000% DOGE rally based on upcoming technical chart patterns.

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