HSBC, the largest European bank with total assets of $3 trillion, maintains a skeptical stance on cryptocurrency while promoting the central bank digital currency (CBDC) development. HSBC Group CEO Noel Quinn penned an article, New forms of digital money could spur growth, outlining the firm’s commitment to supporting the concept of CBDC as it provides transparent
Regulation
Bloomberg Intelligence Commodity Strategist Mike McGlone believes it is only a matter of time before the U.S. Securities and Exchange Commission (SEC) approves the country’s first Bitcoin exchange-traded fund (ETF). In an interview with Stansberry Investor host Daniela Cambone on Sept. 21, McGlone asserted that Canada is extending a competitive lead over the United States
Dan Berkovitz, one of three commissioners currently serving at the U.S. Commodity Futures Trading Commission, said while the agency is suited to futures contracts, swaps, and options trading, it would need additional resources to handle the cash market for crypto assets. Speaking at the Managed Funds Association Digital Assets Conference on Tuesday, Berkovitz said the
U.S. Securities and Commission, or SEC, chair Gary Gensler has doubled down on his “Wild West” analogy for cryptocurrencies, calling stablecoins instruments for gambling at old-timey casinos. Speaking to Washington Post columnist David Ignatius on Tuesday, Gensler said most projects in the crypto space dealt with securities that fall under the regulatory purview of the
The United States Department of the Treasury has announced it will impose sanctions on Czech Republic and Russia-based business Suex OTC for allegedly allowing hackers to access cryptocurrency sent as payment for ransomware attacks. In a Sept. 21 advisory update, the Treasury Department Office of Foreign Assets Control, or OFAC, added Suex OTC to its
Riccardo Spagni, the former lead maintainer of the privacy coin Monero, has reported U.S. officials have released him after more than a month in custody. In a Sept. 21 tweet, Spagni said he was working with his legal team to return to South Africa to address the allegations against him. Authorities in the U.S. arrested
The Securities Exchange and Commission of Thailand (SEC) has a license to an asset-backed token offering service based on the Ethereum blockchain. Fraction, a wholly-owned subsidiary of the Hong Kong-based fintech firm Fraction Group, has received a license allowing it to list and trade tokens for fractional ownership of physical or digital assets, the firm
South Korean crypto exchange Gopax, which is backed by Digital Currency Group, is facing potential closure ahead of the country’s fast-approaching deadline for platforms to submit their requests for an official operating license. To be eligible for a license, all crypto exchanges must show evidence that they are operating using real-name accounts at South Korean
Maxime Bernier, founder and leader of the People’s Party of Canada, has said he supports the adoption of cryptocurrencies in the country. In a Sept. 14 tweet, Bernier said cryptocurrencies were “another new and innovative way” to counter the actions by central banks, which he claimed were “destroying our money and economy.” The Canadian politician
On Sept. 14, United States President Joe Biden revealed his picks to fill two vacant seats at the United States Commodity Futures Trading Commission (CFTC). In addition, the president nominated Rostin Behnam, who has run the derivatives regulator as acting chairman since January, to assume the office on the permanent basis. The appointments are unlikely
American CryptoFed DAO, a Wyoming-based decentralized autonomous organization, has filed two forms with the United States Securities and Exchange Commission, or SEC, to launch two variants of inter-dependent stablecoins named Locke and Ducat. According to CryptoFed’s Form 10 submission, the tokens are awaiting their registration as utility tokens hosted on the in-house CryptoFed blockchain. However,
The Texas State Securities Board has filed for a hearing with the potential to impose a cease and desist order against crypto lending firm Celsius Network for not offering security licensed at the state or federal level, while the New Jersey Bureau of Securities has ordered the platform to stop offering and selling interest-earning cryptocurrency
2021 has been a wild ride for the cryptocurrency market as Bitcoin shocked its naysayers by setting a new record high at $64,863 and the DeFi and NFT sector made headlines around the world. It’s times like these that crypto traders need to be wary because the notoriously volatile nature of the cryptocurrency market can
Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline. The exchange officially announced on Friday that it will discontinue Korean language support from its platforms as well as its official South Korean community on social media. The suspensions will take effect
Some U.S. Senators are ramping up the anti-crypto rhetoric again, urging federal agencies to take action against the illicit use of digital assets. Democrat Senator Maggie Hassan is the latest to raise concerns about the use of cryptocurrency as a means of payment for ransomware attacks. The Senate Homeland Security and Governmental Affairs Committee member
Noh Woong-rae, a member of South Korea’s National Assembly and a representative of the country’s ruling party, reportedly plans to postpone a bill clarifying the taxation of crypto until 2023. According to a Thursday report from Naver News, Noh said the Democratic Party of Korea plans to push back against the intention of South Korea’s