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LUNA, UST Jump as Terra Revival Plan Moves Ahead After Vote
25.5.2022
The price of the Terra network’s native LUNA token and the failed stablecoin terraUSD (UST) jumped in the market on Wednesday, after a revival plan for the network officially passed a vote, with 65% voting in favor of the plan. A new Terra blockchain is now expected to launch this Friday,...
Ideas vs. practice: How are regulators working together on crypto?
25.5.2022
While the calls for globally coordinated regulation for cryptocurrencies is a noble effort, the practicality of the situation is far from ideal
Crypto Industry’s Custody, Ownership Rights Are 'Fundamental Problems' That Need Solving - US Official
25.5.2022
The recent collapse of the TerraUSD (UST) stablecoin has demonstrated that custody and ownership rights are underdeveloped for the size, scope, and ambitions of the crypto industry, according to the US Acting Comptroller of the Currency Michael J. Hsu.
The comptroller presented his opinion...
LUNA Investor Arrested for Knocking on Do Kwon’s Door After Losing $2.4 Million in Terra Crash
25.5.2022
A crypto investor has been arrested after knocking on Do Kwon’s door following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). He lost about $2.4 million and is now under investigation by the South Korean police. “I felt like I was going to die,”...
More Crypto Regulation Incoming in South Korea Following Terra Collapse, Gov’t Indicates
24.5.2022
More regulatory scrutiny could be incoming for the crypto sector in South Korea in the wake of the terra (LUNA) and terraUSD (UST) crash – with exchanges set to come under the same kind of scrutiny as Terraform Labs and its Founder and CEO Do Kwon....
Read More: More Crypto Regulation Incoming...
Enforcement and adoption: What do UK’s recent regulatory aims for crypto mean?
24.5.2022
British regulators intend to amplify the enforcement of crypto and make stablecoins a payment method
Tether is Fully Backed, Always Redeemable for USD 1 , Co-Founder Says
24.5.2022
“I strongly believe that [tether] is fully backed, and you will never have any issues redeeming it,” Tether co-founder and BLOCKv CEO Reeve Collins has said.
Speaking in an interview with CNBC on Monday, Collins said that the popular stablecoin tether (USDT) is “still backed 1:1” by reserves...
Digital Dollar Would Undermine Banks, No Compelling Case for It, US Bankers Argue
24.5.2022
The purported benefits of a central bank digital currency (CBDC) in the United States are “uncertain and unlikely to be realized,” and there is no compelling case for it, the American Bankers Association (ABA) has said in a letter to the US Federal Reserve (Fed). The letter also warned that...
IMF Chief Speaks of Crypto ‘Pyramid’ Concerns – But Also ‘Begs’ Not to Abandon Crypto Progress
24.5.2022
The head of the International Monetary Fund (IMF) has waded into the terra (LUNA) and UST fallout – seemingly labeling the project a “pyramid,” while also urging regulators to consider the “importance” of the world of crypto and central bank digital currencies (CBDCs).
Bloomberg quoted...
Major Japanese Bank Sumitomo Mitsui Trust to Launch Cryptocurrency Custody Business
24.5.2022
Sumitomo Mitsui Trust, one of the major banking institutions in Japan, will reportedly enter the cryptocurrency custody business. The company is entering a partnership with Bitbank, a Tokyo-based cryptocurrency exchange, to launch a new company that will focus on offering institutional-grade...
Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23
24.5.2022
Officials from all over the world continue discussing the solutions for stablecoins' risks
India’s Central Bank Governor Warns About Crypto After Collapse of Terra LUNA, UST
24.5.2022
India’s central bank, the Reserve Bank of India (RBI), has warned about investing in the crypto market following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). “We have been cautioning against crypto and look at what has happened to the crypto market...
fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher
23.5.2022
FTM price recovers from its May 12 low after the launch of the fUSD stablecoin and the possible return of Andre Cronje
Poorer Americans Are More Likely to Use Crypto, GameStop's Ethereum Wallet, eBay's NFTs + More News
23.5.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Read More: Poorer Americans Are More Likely to Use Crypto, GameStop's Ethereum Wallet, eBay's NFTs + More News
Do Kwon shares LUNA burn address but warns 'LUNAtics' against using it
23.5.2022
Upon a persistent request from the Terra community, Kwon went against his initial plan and publicly shared a burn address for LUNA on May 21
Circle to Issue Weekly USDC Reserve Reports — Tether Publishes May 2022 Assurance Report
22.5.2022
The co-founder and CEO of Circle, Jeremy Allaire, has announced the cryptocurrency firm that issues the stablecoin usd coin plans to provide the public with weekly stablecoin reserve reports. Additionally, the company Tether has also released an assurance report on its stablecoin reserves via...
Do you have the right to redeem your stablecoin?
21.5.2022
Spoiler: No, stablecoin issuers do not guarantee the legal right for users to claim fiat currency back
FCA will 'absolutely' consider recent stablecoin depegging when drafting crypto rules: Report
20.5.2022
The United Kingdom's Economic and Finance Ministry announced in April that it would work to incorporate stablecoins into a regulatory framework on digital assets
The Crypto Bear Market Is Here: How to Invest Now?
20.5.2022
Bitcoin (BTC) is down almost 40% year-to-date, while most leading altcoins have dropped 50% to 70% since the start of 2022. So it’s fair to say, we are in a bear market. However, that doesn’t mean you have to exit the crypto markets because we’re having a bad first half of the year.
Read on...
SEC Chair Gensler Warns a Lot of Crypto Tokens Will Fail Following LUNA, UST Collapse
20.5.2022
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has warned that a lot of crypto tokens will fail and many crypto investors will get hurt following the collapse of terra (LUNA) and stablecoin terrausd (UST). SEC Chair Gensler’s Warning After LUNA and...