The U.K. outline of the future financial services regulatory regime for crypto covers a broad range of topics, from the troubles of algorithmic stablecoins to nonfungible tokens and initial coin offerings. And it’s certainly good news for the industry, as the upcoming regulation doesn’t propose a ban on algorithmic stablecoins or excessive requirements on data
Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said. Binance Suspending USD Deposits and Withdrawals Global cryptocurrency exchange Binance
The United States dollar index (DXY) has started a strong recovery and its rise is putting pressure on Bitcoin (BTC) and the S&P 500 (SPX) index. The market participants will be keenly watching for any insights on future rate hikes when the Federal Reserve Chairman Jerome Powell speaks before the Economic Club of Washington on
Bitcoin (BTC) starts the second week of February in a newly bearish mood as multimonth highs fail to hold. In what may yet bring vindication to those predicting a major BTC price come down, BTC/USD is back under $23,000 and making lower lows on hourly timeframes. Feb. 6 trading may not yet be underway in
Bitcoin (BTC) stayed motionless at the Feb. 6 Wall Street open as analysis showed an “interesting dynamic” in play on BTC price charts. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin: Golden cross meets death cross Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ignored the start of U.S. equities trading to
Regulators in Hong Kong are stepping up their game when it comes to monitoring the activities of the crypto industry. According to a Securities and Futures Commission report filed on Feb. 6, it plans to hire four additional staff to “better supervise” the activities of local virtual asset (VA) providers. Moreover, the extra oversight will help
Ripple CTO David Schwartz has spoken out in a recent tweet about the XRP buyback proposal that first surfaced in 2021 and is now resurfacing with a second iteration. The controversial proposal is currently being heatedly discussed again on Twitter after Valhil Capital CEO Jimmy Vallee brought up the idea again. The theory is based
FTX debtors are seeking to claw back millions of dollars given to U.S. political action committees (PACs) and political figures. Confidential letters have been sent to individuals and organizations, requesting the return of the funds by Feb. 28, 2023. Some bureaucrats, such as Democratic Senators Joe Manchin and Tina Smith, have already pledged the funds
High-profile crypto bankruptcies and a hearty price crash are necessary evils to help the industry grow, while greater regulation is a must, according to MicroStrategy co-founder Michael Saylor. In a Feb. 3 interview on CNBC’s Squawk on the Street, Saylor opined on potential incoming United States crypto regulation after the bankruptcy of FTX, saying: “The
South Korea established guidance that specifies which types of digital assets will be considered and regulated as securities in the country. In a press release, the Financial Services Commission (FSC) highlighted that digital assets that fit the characteristics laid out in the country’s Capital Markets Act will be treated as securities. This law considers securities
At the Starkware Sessions 2023 event, held at the Cameri Theatre in Tel Aviv, Israel, Starkware co-founder Eli Ben-Sasson informed the audience that the company intends to open source “key tech” linked to the Starknet Prover. During the event, the co-founder of the Ethereum scaling project stated that this marks a “significant step for scaling
A luxury rehabilitation center in Spain has recently added services aimed at treating a relatively new kind of addiction — crypto trading. The center, called “The Balance,” is a Switzerland-founded wellness center, with its main facility located on the Spanish island of Mallorca along with branches in London and Zurich. While it has long treated
After the impressive rally in January, Bitcoin (BTC) seems to be taking a breather in February. This is a positive sign because vertical rallies are rarely sustainable. A minor dip could shake out the nervous longs and provide an opportunity for long-term investors to add to their positions. Has Bitcoin price bottomed? The opinion remains
Payment company Visa is seeking to build a “muscle memory” to settlements, aiming to allow customers to convert digital assets to fiat currencies on its platform, according to the company’s head of crypto division Cuy Sheffield at the StarkWare Sessions 2023. “We’ve been testing how to actually accept settlement payments from issuers in USDC starting
The New Jersey Bureau of Securities has ordered three website operators to stop luring romance-seeking victims into their fraudulent cryptocurrency investment schemes. The three firms hit with the cease and desist orders were Meta Capitals Limited, Cresttrademining Limited and Forex Market Trade, according to a Feb. 3 press release from New Jersey’s Attorney General Matthew Platkin.
A new survey by JPMorgan Chase shows that 72% of institutional traders “have no plans to trade crypto” while 14% plan to trade cryptocurrencies within five years. Institutional traders also expect “recession risk” to have the biggest impact on markets in 2023. JPMorgan’s Institutional Trader Survey Global investment bank JPMorgan Chase published the results of