Crypto.com will no longer serve institutional clients in the United States after announcing the suspension of the service from June 21. The Singapore-based cryptocurrency exchange cited limited demand from institutional customers as a primary reason for the move which has been exacerbated by testing prevailing market conditions. A statement from Crypto.com noted that the platform’s
The crypto industry faced more scrutiny from regulators in the United States this past week, as the U.S. Securities and Exchange Commission (SEC) served both Coinbase and Binance.US with lawsuits regarding their operations. Amid the accusations from regulatory officials, the members of the crypto community have spoken out against the behavior of the SEC while
Kraken NFT marketplace exits its beta phase Crypto exchange Kraken has announced that its nonfungible token (NFT) marketplace has exited its beta phase. Along with the launch, the NFT platform highlighted it had expanded its number of NFT collections from 70 to over 250. According to Kraken, it will continue adding more collections to its marketplace.
The United States House Financial Services Committee has released the third draft of the stablecoin bill presented by the Republican chair Patrick McHenry. The latest draft of the bill is aimed at bipartisan legislation and includes certain proposals from both Republican and Democratic financial services committees. The draft bill titled “The Future of Digital Assets:
Lawmakers in the United States have proposed two new bipartisan bills targeting issues of transparency and innovation in artificial intelligence (AI). On June 8, Democratic Senator Gary Peters, and Republican Senators Mike Braun and James Lankford, introduced the first bill, which would require the government to be transparent with its AI usage. Under such a
On June 9, the European Union’s Markets in Crypto-Assets (MiCA) legislation was published in the Official Journal of the European Union (OJEU). This triggers the countdown for the law to come into effect from Dec. 30, 2024. The regulations, signed into law on May 31 after first being introduced in 2020, aim to create a consistent regulatory framework for
Bitcoin (BTC) may be in line for 60% upside if a long-term chart feature stays intact. In part of his latest analysis on June 8, popular trader Mikybull Crypto flagged encouraging signs on the BTC/USD weekly chart. Weekly Bitcoin price chart keeps $40,000 on the table With Bitcoin still wedged in a narrow trading range
Stablecoin issuer Tether (USDT) has reached into its own war chest to invest in El Salvador’s $1 billion renewable energy project to help drive Bitcoin (BTC) adoption in the Central American nation. The firm responsible for issuing USDT across cryptocurrency markets is one of a handful of companies investing in El Salvador’s renewable power generation project.
ARK Invest CEO Cathie Wood doesn’t appear to have been swayed by recent crypto regulatory action, after buying another $19.9 million shares of Block Inc. right after buying $21 million of shares in Coinbase. Wood’s latest buying spree comes despite the United States Securities Commission suing two of the industry’s exchange heavyweights — Binance (June
Crypto venture capital firm Paradigm has slammed the U.S. Securities and Exchange Commission’s attempt to redefine the term “exchange” — which would if accepted, bring decentralized exchanges under its purview. On June 8, the firm sent a lengthy 14-page letter to the SEC Secretary, Vanessa Countryman, regarding the regulator’s proposed redefinition of the term “exchange”
The judges presiding over Coinbase and Binance’s lawsuits will likely watch the results of the SEC v Ripple case closely, crypto lawyers told Cointelegraph. Ripple has been in a legal battle with the SEC since December 2020. The regulator alleges it was offering unregistered securities via XRP (XRP) since 2013. On June 6 the SEC
Credit ratings agency Moody’s has downgraded its rating of Coinbase from “stable” to “negative” following the SEC’s legal action against the crypto exchange for allegedly operating as an unregistered securities broker. In a June 8 statement, Moody’s said the downgrade was due to concerns about the impact of the SEC action on Coinbase’s day-to-day operations.
Ethereum co-founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co founder Sandeep Nailwal to send $100 million towards COVID-19 research and medical infrastructure development in India. Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own
Alibaba NFTs… censored? On June 8, AliExpress, the online retail subsidiary of Chinese tech conglomerate Alibaba, announced that it had joined forces with Web3 developer The Moment3! to create a series of NFTs based on shopping themes. The upcoming collection will feature 5,555 NFTs and is scheduled to debut on June 25, 2023. Less than
In a June 8 speech at the Piper Sandler Global Exchange & Fintech Conference, United States Securities and Exchange Commission (SEC) Chair Gary Gensler compared the current crypto market to the 1920s U.S. stock market, saying that it is full of “hucksters,” “fraudsters,” and “Ponzi schemes.” Just as Congress cleaned up the stock market by
Bitcoin might have displayed strength by quickly recovering from the $25,500 support level on June 6, but that doesn’t mean that breaking above $27,500 will be an easy task. Investors still expect stricter regulatory scrutiny after FTX’s bankruptcy in November 2022, including the recent suits against Coinbase and Binance. A total of eight cryptocurrency-related enforcement actions have been
A pair of scientists from the University of Kent’s School of Computing in the United Kingdom recently conducted a study comparing energy consumption rates for current ASIC-based miners to proposed quantum-based solutions. According to the team’s preprint research paper, the systems utilizing quantum computing demonstrably outperformed standard mining rigs in energy efficiency: “We show that
In this week’s episode of Market Talks, Cointelegraph welcomes Lark Davis, who has been actively involved in the world of cryptocurrency since 2017. He is a Bitcoin (BTC), crypto and stock investor and boasts over 1 million followers on Twitter and over 470,000 YouTube subscribers. In today’s discussion with Davis, we first get to know him
Bitcoin’s price lost steam after a failed retest of the $27,400 resistance on June 6, signaling that investors became less confident after the recent regulatory actions by the United States Securities and Exchange Commission (SEC) against Binance and Coinbase. Both exchanges are being sued on multiple counts, including failure to register as licensed brokers and offering unregistered
Stablecoin issuer Circle has loaded its arsenal to fight the ongoing regulatory crackdown on crypto. By July 1, the role of chief legal officer and head of corporate affairs will be filled by Heath Tarbert, a top attorney with a background in all three branches of the United States government. According to a June 8
