New York Rep. Ritchie Torres has called on United States Securities and Exchange Commission (SEC) Chair Gary Gensler to reconsider the regulator’s position on crypto following a “dreadful day in court.” In a July 18 letter to Gensler, Torres requested the SEC limit its enforcement cases to “bonafide bad actors” rather than “indiscriminately” treating the
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Bitcoin (BTC) targeted new month-to-date lows at the July 18 Wall Street open as bulls refused to give up on $30,000 support. BTC/USD 1-hour chart. Source: TradingView BTC price: Heavy resistance risks weekly downtrend Data from Cointelegraph Markets Pro and TradingView showed BTC price action dropping after a modest rebound from $29,675 — its worst
The European Union has been vocal about its place in the rapidly expanding ecosystem of emerging technologies. It has been a leader in establishing clear crypto regulations with its long-awaited Markets in Crypto-Assets (MiCA) framework signed into law in late May. The EU has also been pushing forward on creating regulations for the development and deployment of
Decentralized applications could tap into improved privacy features as blockchain firm Oasis launches its confidential EVM-compatible blockchain Sapphire. Sapphire and the Oasis Privacy Layer (OPL) are now live, allowing existing decentralized applications (DApp) on Ethereum Virtual Machine (EVM) networks to make use of the blockchain’s privacy-first features without having to carry out cross-chain swaps for
While account abstraction in Ethereum is perceived to be a catalyst that could onboard a billion users, Ethereum co-founder Vitalik Buterin shared some challenges in implementing the new feature on the blockchain. Buterin, speaking on July 18 at the Ethereum Community Conference (EthCC) event in Paris, explained some of the key innovations that modern account
In the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), District Judge Analisa Torres has referred the case to Magistrate Judge Sarah Netburn for General Pretrial, including the crucial aspects of scheduling, discovery, non-dispositive pretrial motions, and settlement. The General Pretrial refers to a pre-trial hearing where the attorneys
The United States’ Securities and Exchange Commission (SEC) has accepted Valkyrie’s Bitcoin (BTC) exchange-traded fund (ETF) proposal for official review. According to data from the SEC’s Nasdaq rulemaking list, Valkyrie’s proposal for its spot Bitcoin ETF entered the official docket on July 17. Valkyrie’s listing on the docket is the second spot Bitcoin ETF proposal
As the tides of the crypto world surge with the force of emerging technologies and continuous innovation, the navigation toward regulatory clarity within the United States has always been a challenging venture. And recent events in the crypto market seem to have set the groundwork for what could be the path to clarity. Ripple’s recent
Bitcoin (BTC) has spent almost a month at or near $30,000, but this is no coincidence, new analysis claims. In one of its Quicktake market updates on July 17, on-chain analytics platform CryptoQuant highlighted three key factors keeping BTC price action in the same place. Bitcoin speculators in the driving seat Bitcoin has rebuffed any
A United States-based crypto mining company, Marathon Digital, heads to court, as its shareholders allege that CEO Fred Thiel, alongside other top executives, committed a breach of fiduciary duties, unjust enrichment and waste of corporate assets. A shareholder complaint against Fred Thiel and nine other Marathon executives was filed in the United States District Court
An environment of healthy competition is being fostered between the Ethereum (ETH) ecosystem’s top development firms building zkEVMs to scale the network, according to one of Polygon’s co-founders. Jordi Baylina, technical lead of Polygon Hermez zkEVM, spoke to Cointelegraph ahead of the start of EthCC in France. With builders from across the Ethereum ecosystem converging
Bankrupt cryptocurrency lending firm Celsius has requested the court to grant relief in the motion related to the distribution of funds from its sale of the self-custody platform GK8. The Celsius Network’s debtors on July 17 submitted a filing stating that its Series B holders have agreed on a settlement to distribute $25 million from
Three months after Faruk Fatih Özer — the founder and former CEO of Thodex — was detained in Türkiye, he received a prison sentence of seven months and 15 days for failing to submit documents requested during the trial. Thodex was once one of the biggest crypto exchanges in Türkiye before it suddenly shut down
Despite several high-profile cryptocurrency implosions, the number of people working in the industry has soared over the past four years. According to findings by the crypto research startup K33, the number of crypto-related employees has surged nearly 160% since 2019. In a report titled “The Emerging Crypto Industry,” K33 estimated that the total headcount of
Caroline Pham, the Commodities Futures Trading Commission (CFTC) Commissioner, believes the path to United States crypto regulatory clarity has been laid out following Ripple’s partial victory. Speaking on Bloomberg TV on July 17, Commissioner Pham said recent big court decisions regarding the classification of crypto assets will eventually lead to regulatory clarity. “You know, last
Gary Gensler, the chair of the United States Securities and Exchange Commission, believes staff at its agency could benefit from greater use of artificial intelligence. During a July 17 speech before the National Press Club, where he later broke his silence about the recent Ripple court ruling, Gensler listed several potential use cases of AI that could
While most crypto market watchers remain focused on Bitcoin’s ongoing struggle with $31,000, Ethereum recently closed above the psychologically important $2000 level for the first time in weeks. Now poised to close lower for four straight days, let’s take an evidence-based approach and determine whether four consecutive days lower for Ether is historically bullish or
Crypto firms and influencers may need to start slapping disclaimers on crypto memes to stay compliant with advertising laws in the United Kingdom, according to a new proposed guidance from the country’s financial regulator. On July 17, the Financial Conduct Authority (FCA) released a proposed guidance on social media financial promotions which targets promotional memes
The development firm behind the Chainlink protocol and its native LINK token has gone live with its cross-chain protocol, aimed at providing interoperability between traditional financial firms and both public and private blockchains. In a July 17 post on the Chainlink blog, Chainlink Labs’ Chief Product Officer Kemal El Moujahid announced that its Cross-Chain Interoperability Protocol
Cathie Wood, the founder and CEO of ARK Investment Management, said she remains bullish over Coinbase in light of Ripple’s partial victory over the Securities and Exchange Commission on July 13. While Wood noted the ruling wasn’t in outright favor of Ripple, she lauded the outcome as “by and large, very positive for [crypto] exchanges.”