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.
Circle, the company that issues USDC stablecoins, was dealt a significant blow earlier this month when the Silicon Valley Bank (SVB) went bankrupt. SVB was Circle’s primary banking partner, and that partnership’s failure resulted in significant withdrawals of the USDC stablecoin. The USDC stablecoin at one point lost its USD peg, which caused more concerns; … Read more
Wakweli, a company that provides infrastructure services for Web 3.0, has signed a strategic collaboration agreement with Polygon, a layer-2 protocol that is based on Ethereum. Wakweli will expand its Non-Fungible Token (NFT) certification system to Polygon for the benefit of all applications based on the protocol, according to the terms of the agreement contained … Read more
The potential existence of a link between Binance and China was brought to light by the Financial Times. The Financial Times said it had certain confidential documents pertaining to the cryptocurrency exchange Binance. The Financial Times pointed (1) out that these records disprove the previous statements made by a number of executives at Binance, including … Read more
The prominent decentralized finance (DeFi) system Lido has revealed that it intends to integrate non-fungible tokens (NFTs) into the process of unstaking. Yesterday, during its Node Operator Community Call #5, the DeFi protocol with the biggest total value provided a hint about its future ambitions. According to Lido (1), users will be given a tradable … Read more
Irene Zhao, a prominent figure in the cryptocurrency space, is credited with launching a new social platform on web3 called So-Col (Social Collectibles), which just announced receiving $4.5 million in fresh funding throughout two rounds. According to statements (1) made by DWF on Tuesday, the web3 investment firm was the sole sponsor of the most … Read more
An announcement was recently made regarding strategic cooperation between the Kraken cryptocurrency exchange and the English Formula One team Williams Racing. As a result of the cooperation, Kraken’s emblem will be displayed on the halo and rear wing of the FW45 race vehicle that Williams Racing will enter in the Formula 1 Rolex Australian Grand … Read more
The Chief Executive Officer of Binance, Changpeng ‘CZ’ Zhao, has responded to the complaint lodged against the exchange by the Commodities Futures Trading Commission (CFTC). CZ brought up many points in response to the federal agency’s request for a US injunction against Binance, and these issues are alleged in the lawsuit. CZ further stated that … Read more
The European Union (EU) is about to approve a fresh set of anti-money laundering (AML) legislation, which may put some major limits on transactions involving the cryptocurrency market if they are enacted as written. Recent clarifications (1) provided by Damien Carême, a French senator affiliated with the Green party, indicate that the new limits will … Read more
The United Kingdom Treasury Department has disclosed that it would not carry out its initial plans to produce a non-fungible token (NFT). These plans have been in the works for some time. According to a proposal submitted in April 2022 by Rishi Sunak, who was serving as Chancellor of the Exchequer at the time and … Read more
The intended sale of Voyager Digital to Binance.US has been put on hold for the time being by Judge Jennifer Rearden, a newly appointed federal judge for the US District Court in the state of New York. According to the ruling that was handed down (1), the previously proposed sale of one billion dollars won’t … Read more