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AI Crypto Economy Suffers $1.42B Loss Since February Peak; Top Tokens Record Weekly Declines
24.7.2023
In February 2023, the AI-driven cryptocurrency sector reached a staggering $4 billion in value. Yet, it has since experienced a downturn of $1.42 billion. Over the last week, eight of the top 10 AI-based crypto tokens saw declines against the U.S. dollar. Downturn Hits AI Crypto Market Once...
US FSC Chairman eyes regulatory clarity for crypto, stablecoin ecosystems
24.7.2023
The upcoming FCA meeting is aimed at providing regulatory clarity for the digital asset ecosystem — cryptocurrencies, blockchain development and stablecoin payments
Blackrock’s Bitcoin ETF Application Update, Warnings of Possible Reversal in XRP Ruling, and More — Week in Review
23.7.2023
Financial megalith Blackrock’s bitcoin exchange-traded fund (ETF) application has now been accepted by the U.S. Securities and Exchange Commission, and added to the regulator’s docket. In related news, a former official from the SEC has said the recent ruling on XRP from the SEC...
Bitcoin ETFs Can ‘Act as a Gateway to Crypto for Many’ — Mintlayer CEO Enrico Rubboli
22.7.2023
According to Enrico Rubboli, the CEO of Mintlayer, Bitcoin exchange-traded funds (ETFs) can potentially act as “a gateway to crypto” for users who are likely to eventually show greater interest in the underlying asset. Rubboli argued that while bitcoin maximalists may view Blackrock...
US House Republicans Introduce Landmark Bill for Regulating Crypto: The Financial Innovation and Technology for the 21st Century Act
21.7.2023
On Thursday, Senior House Republicans presented legislation to resolve the regulatory ambiguity surrounding the digital asset industry.
The proposed bill calls for mandatory definitions of "blockchain" and "digital asset" to be included within the existing financial laws by market regulators....
Securities Commission Cancels FTX Australia’s License
21.7.2023
Australia’s securities regulator has canceled the license of the local FTX entity, allowing it to perform only limited financial services. These will be related to the termination of derivatives with clients and arrangements to compensate retail customers. ASIC Revokes Financial Services License...
Kuwait Capital Markets Authority Reaffirms Comprehensive Crypto Asset Ban
20.7.2023
In a circular released by the Capital Markets Authority of Kuwait, the regulator reaffirmed its position that Kuwait strictly prohibits the use of virtual currencies and bans mining activities within the Gulf state. The authority also emphasized the importance for businesses to inform customers...
UK financial watchdog announces launch of permanent Digital Sandbox in August
20.7.2023
According to the FCA, the sandbox will be open to businesses, start-ups and data providers, including those involved in banking, investment, lending and payments
Tesla’s Bitcoin Portfolio Remains Unchanged at $184M for Third Straight Quarter: Q2 2023 Report
20.7.2023
Tesla’s Q2 2023 Update reveals that the American electric car and clean energy company refrained from selling any of its bitcoin (BTC) or cryptocurrency holdings in the previous quarter. For the past three quarters, Tesla has maintained a digital asset portfolio worth approximately $184...
Macro State of Crypto – Where It Has Been and What's Next
20.7.2023
Analytics can offer insight into how recent and past crypto and regulatory events have affected prices and movement. Plus: A quick Q&A on retirement funds
UK Financial Regulator to Introduce Isolated Environment for Testing Financial Applications
20.7.2023
During a pilot phase, the environment was used to test the eco-friendliness of decentralized ledgers
Egyptian and Nigerian Central Banks Sign Agreement to Deepen Cross-Border Regulation
20.7.2023
The central banks of Egypt and Nigeria have signed a fintech agreement to deepen the two institutions’ “cross-border regulatory collaboration” and information sharing. The London Institute of Banking & Finance, which also signed an MOU, will offer training programs, workshops...
Nasdaq Halts Crypto Custody Plans Amid Tough US Regulatory Environment
19.7.2023
Adena Friedman, CEO of Nasdaq, the international securities marketplace, announced that the firm is postponing its cryptocurrency custody plans due to the United States’ “regulatory environment.” During a Q2 earnings call, Friedman disclosed that Nasdaq aimed to launch...
UK FCA Chief Warns Against Judging Crypto Firms by Size for Approval Decisions
19.7.2023
The FCA has turned down some of the largest crypto firms in the world in the last 18 months, its CEO Nikhil Rathi told lawmakers at a hearing
Financial Services Giant Societe Generale Secures First French Crypto License For Its Crypto Division
19.7.2023
French banking giant Societe Generale’s crypto arm has received a full Digital Asset Service Provider (DASP) license from the country’s financial regulator Autorité des Marchés Financiers (AMF).
SG Forge, the bank’s digital asset division, has become the first entity to obtain a crypto permit...
FCA Issues Warning: Crypto Memes Could Violate Financial Promotion Rules
19.7.2023
Crypto memes may amount to criminal offenses if they don’t comply with existing financial promotion rules, warned the United Kingdom’s top financial regulator on Monday. ...
Read More: FCA Issues Warning: Crypto Memes Could Violate Financial Promotion Rules
Australian Securities Regulator Revokes FTX’s Local Financial Services License
19.7.2023
The Australian Securities and Investments Commission (ASIC) has canceled the financial services license of FTX’s Australian subsidiary effective from July 14, impacting 30,000 customers.
With the cancelation of the license, FTX Australia can no longer operate as an exchange in the country....
Another Big 4 Australian Bank Blocks Payments to ‘High-Risk’ Crypto Exchanges
19.7.2023
National Australia Bank (NAB) has joined other major lenders in the country in blocking payments to some cryptocurrency exchanges. The banking institution said it’s introducing new customer protections regarding financial transactions with certain scam-related crypto platforms. Australia’s NAB Bank...
Australia's financial regulator cancels license for FTX's local entity
19.7.2023
ASIC had previously suspended FTX's license to operate in Australia, now the securities regulator has canceled it entirely
SEC Chair Advocates Increased AI Use for Market Surveillance and Enforcement
19.7.2023
U.S. Securities and Exchange Commission Chairman Gary Gensler says the SEC could benefit from making greater use of artificial intelligence (AI) in several areas, including enforcement and market surveillance. However, he also raised a number of concerns associated with AI, emphasizing that...