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Hong Kong Legislator Invites Coinbase Amidst SEC Scrutiny
12.6.2023
The US SEC has been actively examining the operations of digital asset exchanges, raising concerns about investor protection and market integrity.
It slammed the top crypto exchanges, Binance and Coinbase, with lawsuits alleging securities laws violations on June 5 and 6.
But despite the...
Crypto Tax Software Firm Taxbit Lays Off Almost 40% of Its Staff
12.6.2023
Taxbit – a software company that assists cryptocurrency holders with tax compliance issues – has cut nearly half of its staff in an effort to re-expand in the U.K. and EU, the company told employees on Thursday. ...
Read More: Crypto Tax Software Firm Taxbit Lays Off Almost 40% of Its Staff
Former SEC Chief Warns, “Get Out Of Crypto Platforms Now” -What’s Going On?
12.6.2023
Former Enforcement Division chief of the U.S. Securities and Exchange Commission (SEC), John Reed Stark, came up with a warning in his Tweet on June 8, 2023. The warning came directly with the label "Get out of crypto platforms now."
Following the SEC's actions against Coinbase and Binance, Stark...
Latin American Crypto Holders Shift to Bitget Exchange Following Binance and Coinbase SEC Crackdown
12.6.2023
In the aftermath of the US Securities and Exchange Commission’s crackdown on major crypto exchanges Binance and Coinbase, Latin America’s crypto holders have reacted to this development with a surge of new accounts registered with Bitget, a crypto derivatives exchanges.
The American regulator...
Russian and Iranian Crypto Sectors in Cooperation Talks
12.6.2023
Russian and Iranian crypto and fintech industry group leaders have discussed ways the nations could use tokens to evade sanctions and facilitate trade.
The talks were held at a summit in Tehran named the International Exhibition of Financial Industries.
A panel discussion on crypto adoption...
Crypto.com Confirms Arena Name Won't Change Despite Institutional Exchange Shutdown
11.6.2023
The Las Angeles-based sports and entertainment arena, Crypto.com Arena, will be keeping its name despite the cryptocurrency exchange’s decision to shut down its institutional exchanges in the United States.
On 9 June, Crypto.com unveiled plans that it will be stopping its institutional exchange...
US CFTC Wins Precedent Setting Case Against Ooki DAO, Calling It a ‘Wake-Up Call’
9.6.2023
A US district judge ruled in favor of the US Commodity Futures Trading Commission in its litigation against Ooki DAO — which could have further implications for other decentralized autonomous organizations.
Judge William H. Orrick entered a default judgment order on Thursday night, which requires...
Lens Protocol Raises $15 Million to Augment Decentralized Social Media – Next Twitter Competitor?
9.6.2023
Aave’s Lens Protocol, a social layer for web3, has raised $15 million in funding to develop decentralized blockchain-backed social media.
According to a June 8 blog post, IDEO CoLab Ventures led the funding round alongside other VCs, such as General Catalyst, Variant, Blockchain Capital, and Palm...
Berenberg Capital Adjusts Coinbase Price Target in Response to SEC Lawsuit
9.6.2023
According to a research report by Berenberg Capital, investment bank analyst Mark Palmer believes that Coinbase shares are currently deemed "uninvestable" in the short term due to the ongoing lawsuit filed by the Securities and Exchange Commission (SEC).
Palmer noted in the report that...
US House Financial Services Committee Republicans Reach Some Compromise With Democrats on Latest Version of a Stablecoin Bill
9.6.2023
The House Financial Services Committee under its Republican leadership has dropped a new version of its stablecoin bill after receiving feedback from its Democratic members.
The bill, which is still a discussion draft, would regulate payment stablecoins specifically, and would allow state...
US Justice Department Charges Two Russian Nationals With Stealing Thousands of Bitcoin Linked to Mt. Gox
9.6.2023
The US Department of Justice unsealed charges against Russian nationals Alexey Bilyuchenko and Aleksandr Verner, for allegedly stealing thousands of bitcoin from the Mt.Gox crypto exchange back in 2011 to 2014.
Bilyuchenko, 43, and Verner, 29, were charged on Friday in the Southern District...
SEC Pursues 'Alternative Means' to Serve Legal Documents to Binance CEO
9.6.2023
The U.S. Securities and Exchange Commission (SEC) is looking for other ways to serve legal papers to Binance and its CEO, Changgpeng Zhao (CZ), whose location is often hard to track down. ...
Read More: SEC Pursues 'Alternative Means' to Serve Legal Documents to Binance CEO
Robinhood Delists Cardano, Polygon and Solana Following SEC Labeling Them As Securities
9.6.2023
Brokerage firm Robinhood has decided to delist Cardano, Polygon and Solana after the US Securities and Exchange Commission said those three were securities in its charges against two large crypto exchanges this week.
Robinhood said it would end support for the three on June 27, and said that...
Circle USDC-Issuer Taps Ex-Regulator as Chief Legal Officer in Regulatory Push
9.6.2023
Circle, the US-based company behind the stablecoin USDC, has tapped former Commodity Futures Trading Commission (CFTC) chair Heath Tarbert as its new Chief Legal Officer as it pushes for more regulatory clarity in the US.
In a press release, Circle said Heath Tarbert will help Circle build...
Kadena’s Crankk brings improvements to IoT
9.6.2023
Kadena has announced that it is all set to bring improvements to one of the most fascinating segments of technology – IoT. Short for the Internet of Things, it currently faces problems in terms of security and scalability. The one to make a move is Crankk, a venture that recently received...
Ukraine Central Bank Details Crypto Regulation Plans – Will ‘MiCA Move’ Suit Kyiv?
9.6.2023
The Ukrainian central bank has explained its vision of crypto regulations, with the nation looking to move closer to EU models.
Informator reported that the National Bank of Ukraine (NBU) wants to regulate the “cryptoassets market” in line with “European standards.”
The NBU, the National...
US Sen. Elizabeth Warren Says Binance Lied to Congress in Letter to DOJ Asking for an Investigation
9.6.2023
Long-standing crypto skeptic Sen. Elizabeth Warren is asking US Department of Justice Attorney General Merrick Garland to investigate whether Binance lied to Congress.
The Democrat from Massuchesetts and Sen. Chris Van Hollen, D-Md. said Binance may have violated the law when it told lawmakers...
Crypto Card Adoption Rising in Brazil, Say Issuers – LATAM Taking to Crypto?
9.6.2023
Crypto credit card adoption is on the rise in Brazil, issuers have claimed, with more Latin American users than ever reportedly buying and spending tokens.
Per the Brazilian media outlet Livecoins, Brazilians are not just buying crypto, but also using coins, instead of fiat, to pay in stores.
The...
SEC Chair Gary Gensler Tried To Land a Job at Binance, the Exchange’s Lawyers Allege
9.6.2023
Before becoming head of the US Securities and Exchange Commission, Gary Gensler offered to serve as an adviser for Binance, according the crypto exchange, which is now facing heat from the regulator.
In a letter directed towards the SEC’s division of enforcement, counsel for Binance and...
US Justice Department Objects to Bittrex’s Plan To Repay Customers in Bankruptcy Proceedings
8.6.2023
The US Department of Justice objected to a proposal by crypto exchange Bittrex to return money to customers as part of its liquidation plan.
Bittrex filed for bankruptcy in May in a federal court in Delaware after facing scrutiny from both the Justice Department and the US Securities and Exchange...