The network of rules, statutes, and legal procedures governing the cryptocurrency and blockchain businesses is collectively called “crypto regulation.” The legal standing of these businesses has been a hot topic of discussion ever since Bitcoin’s 2008 white paper. The issues facing legislators and regulators have completely changed. Some authorities have reacted negatively because they perceive cryptocurrency as threatening monetary authority. Others have embraced the sector due to its ability to connect distant economies and promote secure global commerce. However, the majority of the globe is still figuring out how to enact, oversee, and enforce the body of regulations governing such a new industry.
During her testimony before the Senate Agricultural Committee on March 8, Senator Gillibrand disclosed the next draft outline. The Commodities Futures Trading Commission (CFTC) oversight was the topic of conversation at the hosted event. During her speech (1), the American politician brought up an earlier version of the crypto law that she and Senator Lummis … Read more
The regulatory environment surrounding cryptocurrencies in the United States has been fraught with ambiguity for some time. On March 8, the Chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, testified before the Senate Agricultural Committee that most stablecoins are commodities. Curiously, he also includes Ethereum (ETH) in this group, and he adds that … Read more
Per the announcement made by Binance, the newly included tokens are as follows: MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP, HFT, SSV, and DOGE. Binance is not only the platform that handles the most trading volume, but it also possesses a vibrant market comprising hundreds of tokens made available to consumers. Following the failure … Read more
Binance.US has been given permission to purchase the assets of defunct cryptocurrency lender Voyager Digital in a $ 1 Billion dollar deal. Binance.US will be able to broaden its range of services and boost its standing in the extremely competitive cryptocurrency sector due to the acquisition. The agreement was given the go-ahead (1) on March … Read more
Regardless of the state of the cryptocurrency market, regulators have kept putting pressure on a variety of subindustries within the cryptocurrency business. This morning, the United Kingdom’s Financial Conduct Authority began the process of pursuing legal action over unregulated cryptocurrency ATMs located in the city of London. The crypto ATM is one of the emerging … Read more
Creditors of Mt. Gox who have experienced losses are required to choose a payment schedule and enter their details in an online rehab claim filing system. It has been communicated to the creditors of Mt. Gox that they have until this coming Friday, March 10, to register and identify the mode of repayment that they … Read more
The Chairman of the Federal Reserve, Jerome Powell, gave a speech on Tuesday, March 7, in which he discussed recent developments in the cryptocurrency industry as well as the present macroeconomic climate. Amid the recent upheaval, the Chairman of the Federal Reserve attempted to find a middle ground by claiming that the central bank is … Read more
In the most recent turn of events, the defunct cryptocurrency exchange FTX has filed (1) a lawsuit against Grayscale Investments, the largest cryptocurrency asset management in the world. The case was filed by FTX’s sister business, Alameda Research, against FTX’s creditors to get injunctive relief for FTX debtors and realize more than $250 million in … Read more
To improve access to financial services throughout the South American nation of Brazil, the country’s central bank has formally introduced a prototype form of central bank digital currency (CBDC). Also, the bank has high expectations that the Brazilian CBDC would achieve the same level of success as Pix, the immediate payment system used in Brazil. … Read more
The regulator has taken yet another step in its ongoing enforcement campaign. This time, it has accused BKCoin Management and its key person, Kevin Kang, of being involved in a fraudulent operation involving cryptocurrency assets. According to the regulating body (1), the company raised around one hundred million dollars from fifty-five investors to initially invest … Read more