David Woodcock steps into the role as US senators await answers to questions on the agency’s dropping lawsuits against Justin Sun and several crypto companies. The US Securities and Exchange Commission (SEC) has appointed David Woodcock as director of its division of enforcement as lawmakers press for answers on his predecessor’s departure. In a Wednesday notice, the SEC said Woodcock would be taking over as the agency’s top enforcer starting on May 4. Sam Waldon will continue to serve as acting director of the division until then. Woodcock, a partner at the law firm Gibson, Dunn and Crutcher, chairs that firm’s Securities Enforcement Practice Group. He previously worked as the director of the commission’s Fort Worth office from 2011 to 2015. Read more
Bitcoin faces a future quantum threat, but Bernstein analysts say risks are concentrated in older wallets and exposed keys, and unlikely to cause existential disruption. Advances in quantum computing could eventually pose a threat to Bitcoin’s cryptographic security, but the risk remains manageable and unlikely to cause existential disruption, according to a new research report by Bernstein. In the report, the Bernstein team — Gautam Chhugani, Mahika Sapra, Sanskar Chindalia and Harsh Misra — described quantum computing as a “manageable upgrade cycle” rather than an “existential risk.” Recent breakthroughs, including research from Google showing a significant reduction in the resources required to break modern encryption, have accelerated the timeline for potential threats. However, building quantum computers powerful enough to compromise Bitcoin (BTC) remains years away due to major technical hurdles and high costs. Read more
The proposed rule would direct payment stablecoin issuers to establish AML/CFT and sanctions compliance programs, and be able to “block, freeze, and reject” certain transactions. Payment stablecoin issuers in the United States will be required to implement a regime targeting illicit finance under the proposed framework for the GENIUS Act. In a Wednesday notice, the US Treasury Department said its Financial Crimes Enforcement Network and Office of Foreign Assets Control (OFAC) had issued a joint proposed rule to implement provisions of the GENIUS Act, signed into law in July 2025. The proposal would direct payment stablecoin issuers to establish and maintain an anti-money laundering (AML) and countering the financing of terrorism (CFT) program, maintain a sanctions compliance program, and have the ability to “block, freeze and reject” certain stablecoin transactions. Issuers would be treated as financial institutions for purposes of the Bank Secrecy Act (BSA). Read more
Bitcoin’s relief rally is facing selling pressure near $72,000, but technical charts suggest a bullish bias. Will altcoins follow in BTC’s footsteps? Key points: Bitcoin is showing signs of bottoming out, but some analysts believe a final shakeout below $60,000 is still possible over the next few months. Several major altcoins are showing early signs of buying, but the bulls have a lot of work to do before a trend change is signalled. Read more