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.
The relationship between the Commodity Futures Trading Commission (CFTC) and industry professionals appears to be in stark contradiction with other US authorities, such as the SEC, which has portrayed itself in a manner that is quite unfriendly toward cryptocurrencies. In a recent announcement, the Commodities Futures Trading Commission (CFTC) named Carole House, an ex-official in … Read more
A bankruptcy counsel for BlockFi argues that the cryptocurrency lender is secure and in no imminent danger, even though Silicon Bank has been exposed as a potential risk. Christine Okike, the attorney for the troubled corporation in New Jersey, indicated that the business has adequate finances to maintain normal operations even if it is currently … Read more
The world’s largest cryptocurrency trading platform, Binance, has temporarily put “on hold” its plans to acquire the massive cryptocurrency media outlet CoinDesk, which is a part of the Digital Currency Group (DCG). According to a report (1) that cites unnamed sources, the transaction was supposed to be carried out by Binance Capital Markets (BCM) through … Read more
In the last twenty-four hours, the price of a bitcoin has increased by 7.18%, and it is currently selling for over $25,909. Bitcoin (BTC) has managed to increase its market valuation, reaching a point where it has surpassed that of the giant tech Meta. This occurred despite the recent failure of the three ‘S’ banks. … Read more
The MiCA law emphasizes the management of crypto asset service providers and imposes stringent regulations on them. After the passage of the ground-breaking cryptocurrency law, the Secretary of State of Digitization in Belgium, Mathieu Michel, disclosed that European legislators are exploring constructing their own blockchain. Politicians are investigating blockchain technology as a potential solution to … Read more
Nonetheless, Coinbase anticipated the full recovery of its cash and stated that it had over 240 million dollars in corporate funds held at Signature Bank. Following the closure of Signature Bank by the Treasury, several cryptocurrency companies, including Paxos, have acknowledged the extent of their engagement with the financial institution. During an unprecedented week in … Read more
Circle claims that most of the reserves backing its USDC stablecoin are in the form of United States Treasury Bills. The cryptocurrency startup Circle, the issuer of the stablecoin known as USD Coin (USDC), recently announced that the USDC reserve risk that the company’s important customers were nursing had been removed. According to what was … Read more
Ripple CEO Brad Garlinghouse addressed his company’s exposure to the failed Silicon Valley Bank (SVB) in a Twitter thread on March 12 that was directed to his 700,000 followers. In the thread, he emphasized (1) that Ripple remains financially stable despite the risk. The executive pointed out that although Ripple has exposure to SVB as … Read more
As a result of the Federal Reserve and the Federal Deposit Insurance Corporation assuring depositors that they could withdraw their money from Silicon Valley Bank, investors in cryptocurrencies have gained some confidence. The overall cryptocurrency market staged a resounding return early on Monday, March 13, and surged back above the $1 trillion milestone. The … Read more
Nissan is not the first automobile manufacturer to submit a patent application for one of its vehicles. Several trademark registrations for Web3 have been submitted by General Motors, Ford, and Mercedes, respectively. Four applications for the web3 trademark have been submitted by the Japanese automobile manufacturer Nissan to the United States Patent and Trademark Office … Read more