The owner of crypto exchange Bitmart has asked a New York judge to intervene to prevent hackers from selling the fraud-begotten coins on the open market. The owner of crypto exchange Bitmart has filed a bid for pre-arbitration injunctive relief to prevent Chinese hackers from making illicit transfers using fraudulent Bitcoin SV (BSV) on its… More
âWeâre not a merit regulator, so we shouldnât be in the business of deciding whether something is good or bad,â SEC Commissioner Hester Peirce said. Securities and Exchange Commissioner Hester Peirce has voiced concerns over the United States lagging behind global jurisdictions in adopting cryptocurrency exchange-traded funds (ETFs).During an online appearance at the Bitcoin (BTC) conference âThe… More
Alongside Coinbase itself, the class action names CEO Brian Armstrong, CLO Paul Grewal, other top executives and several of its venture capital backers as defendants. A Coinbase shareholder has filed a securities class action against Coinbase for allegedly misleading investors ahead of its public listing about the companyâs financial state and resilience as a crypto… More
Binance is set to face heavy regulations in the future with the mindset of shifting from a tech startup to a financial service, Changpeng Zhao said. Binance US, a United States-based cryptocurrency exchange operating separately from Binance, is looking to go public despite the ongoing regulatory crackdown on Binance.Changpeng Zhao, founder and CEO of the… More
Yale Professor Gary B. Gorton and Jeffery Zhang of the Board of Governors of the Federal Reserve System have co-authored a 49-page paper called, âTaming Wildcat Stablecoins.â The Federal Reserveâs ongoing research into central bank digital currencies, or CBDCs, has broadened to include stablecoins and whether they can be effectively regulated. In their paper, which was… More
With China seemingly out of the equation, North American Bitcoin miners are looking to exert hash rate dominance. Even before China finally wielded the ban hammer on crypto mining, Bitcoin (BTC) miners in North America had been building up their capacity amid efforts to gain a larger share of the global hash rate distribution. From… More
Now valued at $33 billion, Revolut didnât rule out a potential IPO this year, but the firm’s CFO suggested that it was unlikely. Revolut, a major British banking app featuring cryptocurrency investment, has secured $800 million in a new funding round.The new investment round is led by Japanese financial giant SoftBank and United States hedge… More
According to the regulatory body, an investor was tipped off that the company would be rebranded, a move that resulted in a huge surge in Long Blockchain’s stock price. The U.S. Securities and Exchange Commission has filed charges against three people accused of insider trading with the Long Blockchain Company related to changing its name… More
The crypto industry has massively evolved since Binanceâs launch four years ago, but it still needs more regulatory certainty, Binanceâs CEO said. Amid intensifying concerns over Binanceâs global regulatory issues, the companyâs CEO and founder, Changpeng Zhao, has underscored the exchangeâs commitment to cooperating with regulators.In an open letter on Tuesday, Zhao emphasized that the… More
Armstrong said he had spoken about Chinaâs central bank digital currency with lawmakers and heads of federal agencies, believing it to be “a threat to U.S. reserve currency status long term.” Prior to the Federal Reserve announcing it would release a discussion paper on a central bank digital currency, chairperson Jerome Powell met with Coinbase… More
Cryptocurrency owners are âgenerally more educated than the average,â according to a new study by the Bank for International Settlements. The Bank for International Settlements (BIS), a global financial institution owned by some of the worldâs biggest central banks, is trying to dispel the theory that cryptocurrency ownership is linked to distrust in traditional finance.On… More
Yoni Assia believes that unprecedented retail investor interest will push regulators to be more proactive about crypto regulation. Crypto-friendly trading platform eToro is expecting regulators to ratchet up their oversight of the crypto industry, given the increasingly high levels of participation by retail traders and smaller investors. In comments for the Financial Times, eToro CEO… More
Though Randal Quarles said there was a “legitimate and strong regulatory interest in how stablecoins are constructed and managed,” a U.S. dollar-pegged coin could help provide support for its fiat counterpart. Randal Quarles, vice chair for supervision of the Federal Reserve Board of Governors, said he believed neither dollar-pegged stablecoins nor digital currencies issued by… More
Robinhood had initially hoped to begin its public offering after American investors returned from the July 4 holidays. Major cryptocurrency and stock trading app Robinhood is reportedly struggling to move forward with its initial public offering due to an ongoing review from securities regulators.According to a Thursday report by Bloomberg, the United States Securities and… More
The filing came before the commission’s June 17 deadline to approve or disapprove of the Bitcoin ETF following an extension in April. The U.S. Securities and Exchange Commission has issued an order allowing the public to comment on the proposed rule change surrounding the Bitcoin exchange-traded fund from asset manager VanEck.According to a Wednesday filing… More
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