A June 12 AAVE (AAVE) proposal aimed at preventing a particular account from accumulating more debt has led to controversy, with some participants arguing that the proposal violates the principle of censorship-resistance or “neutrality” in decentralized finance, or DeFi. Some participants believe that the account is owned by Curve (CRV) founder Michael Egorov. Cointelegraph was
Paul Grewal, chief legal officer of United States-based cryptocurrency firm Coinbase, has pushed back against a proposed rule change from the Securities and Exchange Commission (SEC) which could change the definition of an exchange and how digital assets are regulated. In a June 14 Twitter thread, Grewal said the SEC proposal “tries to fit a
Progress can have its drawbacks, as the French stock market regulator, the nongovernmental Autorité des marchés financiers (AMF), has noticed. According to the AMF ombudsman, digital asset-related mediations rose sharply in 2022, as did the number of registered digital asset service providers (DASPs). In its newly released 2022 annual report, the AMF ombudsman included a
A DeFi options platform using social logins and undercollateralized trading to draw in liquidity providers just launched, according to a June 15 announcement. The protocol, called “Synquote,” is capable of handling large trades with much less slippage than previous options platforms, the team claims. According to the announcement, Synquote did over $25 million of notional
Bitcoin’s price has been pinned below $26,300 since June 10, reflecting a 14.8% correction in two months. Meanwhile, the Nasdaq tech stock market index gained 13.6% in the same period, indicating that investors are not exactly fleeing to the safety of cash and short-term debt. In fact, the demand for United States government bonds has
U.S. Senators Josh Hawley, a republican from Missouri, and Richard Blumenthal, a democrat from Connecticut, introduced a senate bill on June 14 that would eliminate special protections afforded to online computer services providers under the Communications Decency Act of 1996. Today @SenBlumenthal and I introduce the first bipartisan AI bill – putting power in the
The crypto market remains volatile after the June 14 Federal Open Market Committee (FOMC) announcement and presser with Fed Chairman Jerome Powell revealed that the central bank would pause rate hikes for June. While this move aligned with investors’ expectations, the crypto market has yet to show any bullish momentum. Powell also mentioned that at
The price of BNB (BNB) is up around 3% today, in part due to bearish traders opening more BNB-tied contracts despite suffering losses via liquidations in the past 24 hours. In addition, BNB stands extremely “oversold,” which may have prompted traders to buy the dip. BNB price bounces after being “oversold” On June 14, BNB
The European Parliament has passed the EU AI Act, a sweeping legislative framework for governance and oversight of artificial intelligence technologies in the European Union. EU AI act: first regulation on artificial intelligenceThe use of artificial intelligence in the EU will be regulated by the AI Act, the world’s first comprehensive AI law. Find out
The United States equities markets rose after the consumer price index print on June 13 came in below expectations but Bitcoin (BTC) and the altcoins failed to recover. This suggests that cryptocurrency traders are focused on crypto-specific issues and are not buying on favorable macroeconomic news. However, there is a ray of hope for the
The U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance on June 5, alleging that the exchange was involved in the sale of unregistered securities. In its 136-page complaint, the SEC accuses Binance and its founder, Changpeng “CZ” Zhao, of participating in a complex conspiracy that involved fraud, conflicts of interest, a lack
Binance appears to be preparing to exit Cyprus. The Cyprus Securities and Exchange Commission has marked Binance Cyprus Limited as “Under examination for application for deregistration” on its website. Previously, the cryptocurrency exchange received Class 3 registration as a Crypto Asset Services Provider (CASP) in Cyprus in October. At that time, Binance called the registration
Over the last week, the XRP community was abuzz with the expectation that the Hinman documents were finally going to be released. The fight to release these documents had waxed on for a long between Ripple and the United States Securities and Exchange Commission (SEC) before a judge ruled that the documents be unsealed. However,
Brazilian President Luiz Inácio Lula da Silva, known to many as simply Lula, has signed legislation giving clarity to the roles the country’s central bank and securities regulator will take in regards to cryptocurrencies. In a June 14 notice, President Lula signed government decree No. 11.563, establishing rules under a December 2022 law on a
The European Union signed the Markets in Crypto-Assets (MiCA) regulations into law on May 31, making way for the landmark regulatory guidance on crypto assets and service providers to come into effect. First drafted in 2020, the EU’s regulatory package will govern the issuance and scope of services related to the cryptocurrency market. The European
Coldie is a real one. Best described as a mixed media artist, the Californian resident is a true OG of the NFT scene, with his work dating back to 2018, including the iconic themed “Decentral Eyes,” “Sellout” and, more recently, a collaboration with Snoop Dogg. His distinct 3D stereoscopic work jumps off the screen, and,
Amid the panic over lawsuits against major cryptocurrency exchanges, one Bitcoin (BTC) advocate argued that the BTC market is much bigger than the one tracked by exchanges. The total Bitcoin market is not limited to Binance, Coinbase or any other crypto exchange, Jan3 CEO Samson Mow told Cointelegraph at the BTC Prague conference on June
Bitcoin (BTC) stuck to $26,000 on June 14 as fresh United States macroeconomic data prints failed to move cryptocurrency markets. PPI offers Bitcoin bulls little fuel Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying stubborn as Producer Price Index (PPI) data showed U.S. inflation continuing to slow. US PPI just came in: -0.3%
In the latest episode of The Market Report, analyst and writer Marcel Pechman explains that United States inflation slowed for an 11th straight month in May, even though the Consumer Price Index increased 4% year-over-year. That’s down from 4.9% in April but still above the 2% target. Next, Pechman raises the question of regulation in
Despite its ongoing legal imbroglio with the United States Securities and Exchange Commission (SEC), blockchain payments firm Ripple continues to expand its operations in Europe and Asia. Speaking at the Money 20/20 event in Amsterdam, Ripple’s managing director for Europe and the United Kingdom, Sendi Young, outlined the firm’s growth amid regulatory scrutiny back in