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Will the CFTC Blot Out DeFi in the U.S.?
11.9.2023
What Are Stablecoins? A Simple Explanation of the Digital Asset Bridging Crypto and Fiat
10.9.2023
Stablecoins occupy a unique space within the realm of finance, straddling the worlds of traditional and cryptocurrency finance. These digital assets aim to achieve price stability by tethering their market value to external references such as fiat money. Stablecoins blend the characteristics...
Fed Official: Digital Dollar Decision Still a Long Way Off
10.9.2023
The Federal Reserve’s vice chair for supervision has affirmed that the U.S. central bank is “a long way” from making a decision on whether to issue a central bank digital currency (CBDC). The Fed official also voiced concerns regarding USD stablecoins, emphasizing that they...
Coinbase Seeks Expansion in Markets With Clear Crypto Rules Unlike US
9.9.2023
America’s leading cryptocurrency exchange, Coinbase, plans to expand its business in jurisdictions that are adopting clear regulations for the sector. These include markets in Europe, Asia and the Americas as opposed to the United States which, the company says, is enforcing existing rules and...
‘I’m Bullish on Bitcoin’ — Ted Cruz Champions Bitcoin’s Boon for Texas and Power Grid Boosts
9.9.2023
Ted Cruz, the U.S. Republican senator from Texas, expressed his optimism on Friday, stating he’s “bullish on bitcoin,” after a recent interview with Forbes released on September 8. During the conversation, Cruz highlighted emerging reports indicating that bitcoin mining...
SEC Greenlights Nasdaq’s First AI-Powered Order Type
9.9.2023
The U.S. Securities and Exchange Commission (SEC) has approved a new artificial intelligence (AI)-powered order type for Nasdaq’s stock exchange. This marks the first AI order type approved for an exchange. Nasdaq says the latest technology aims to improve efficiency and performance on...
CFTC Cracks Down on 3 Defi Platforms for Offering Illegal Derivatives
9.9.2023
The U.S. Commodity Futures Trading Commission (CFTC) has issued orders against the operators of three decentralized finance (defi) protocols. The regulator accused them of committing various violations of commodity laws including illegal trading of digital asset derivatives. U.S. Commodities...
CFTC Commissioner Proposes ‘First-Ever’ US Pilot Program for Crypto Regulation
9.9.2023
A commissioner with the Commodity Futures Trading Commission (CFTC) has proposed the “first-ever” pilot program in the U.S. “to support the development of compliant digital asset markets and tokenization.” The regulator emphasized: “Our principles-based framework...
US Court Orders Collapsed BTC Investment Firm to Pay Over $1.7 Billion in Restitution for Forex Fraud
9.9.2023
A United States Federal Court Judge has ordered the collapsed bitcoin investment platform Mirror Trading International to pay over $1.7 billion in restitution. Commodity Futures Trading Commission director of enforcement Ian McGinley said the CFTC will not hesitate to go after fraudsters who target...
Tether Boasts $72.5 Billion US Treasury Exposure as Interest in National Debt Falters
9.9.2023
Tether, the largest stablecoin in the cryptocurrency market, discussed how its leverage of U.S. treasury bills creates a steady demand for U.S. national debt as a backup of the USDT issuance. The company has exposure to almost $73 billion in U.S. debt, held directly, indirectly, or as collateral...
LBRY Gears Up to Contest US Securities Law Violation Ruling
8.9.2023
In a recently filed court document, blockchain-based publishing company LBRY has signaled its intent to challenge a New Hampshire district court’s verdict. This ruling, made in November 2022, concurred with the U.S. Securities and Exchange Commission (SEC) stating that LBRY presented...
Worldcoin’s Centralization Dilemma: 100 Wallets Still Dominate 93% of Total Supply
8.9.2023
Since August 11, 2023, the number of unique digital wallets storing the iris-scanning cryptocurrency worldcoin (WLD) stood around 468,466. But in the weeks since, ownership of the fledgling crypto has expanded by over 26% to 591,633 wallets. However, worldcoin’s value has moved in...
U.S. Fed’s Vice Chair Barr Says CBDC Decision Still a ‘Long Way’ Off
8.9.2023
The U.S. is far from making any decision on a central bank digital currency (CBDC), said Federal Reserve Vice Chairman Michael Barr, who described the Fed as still being in the “basic research” phase
Crypto Firm LBRY to Challenge Ruling It Violated U.S. Securities Law
8.9.2023
The blockchain-based file-sharing network had indicated it would be winding down after a New Hampshire court ruled in favor of the SEC last November
Metamask Wallet Users Can Now Cash Out Crypto to Fiat
8.9.2023
The popular Ethereum wallet Metamask has introduced a new feature allowing users to convert crypto to major fiat currencies. The “Sell” option currently supports cashing out ether (ETH) and is available to users in the U.S., the United Kingdom, and some European markets. New Feature...
U.S. Interest Rates High Enough to Tame Inflation, Avoid Recession: Chicago Fed
8.9.2023
Federal Reserve Bank of Chicago economists predict low inflation and a resilient economy, a potential goldilocks scenario for risk assets, including cryptocurrencies
Coinbase Launches Crypto Lending Service for Institutional Investors
8.9.2023
Digital asset exchange Coinbase will be offering cryptocurrency loans to institutions in the United States. With the new service, the leading U.S. crypto trading platform seeks to fill the market gap opened by the collapse of companies like Celsius, Genesis, and Blockfi. Crypto Exchange Coinbase...
CFTC Commissioner Pitches Pilot Program for U.S. Crypto Regulation
7.9.2023
The U.S. watchdog for derivatives markets should create a limited pilot program for regulating cryptocurrencies, said Caroline Pham, one of the members of the Commodity Futures Trading Commission (CFTC)
SEC’s Gensler Should Be Focus of More Hearings on Treatment of Crypto: U.S. Senator
7.9.2023
Sen. Bill Hagerty (R-Tenn.) previewed the lawmaker ire in store for U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler as Congress returns from its summer break, with Hagerty accusing the regulator of stomping on crypto innovation during a speech on Thursday
Ark Invest, 21shares, and Vaneck Forge Ahead With Spot Ethereum ETF Applications
7.9.2023
The U.S. Securities and Exchange Commission (SEC) has temporarily postponed its ruling on seven bitcoin exchange-traded fund (ETF) applications. Meanwhile, a fresh wave of applications has emerged, with Ark Invest and 21shares, in addition to Vaneck, seeking approval for spot ethereum ETFs. These...