Norway should consider a national strategy for crypto regulation, said Norges Bank, the country’s central bank, in a recent report. Countries around the world have been looking at the European Union’s Markets in Crypto Assets (MiCA) regulation, which is close to taking effect. MiCA may apply within the broader European Economic Area, but the central
Binance’s Chief Communications Officer, Patrick Hillmann, took to Twitter to vehemently deny allegations of Binance commingling customer and company funds as reported by Reuters. Hillmann called out the story as weak and filled with conspiracy theories. In his tweet thread, Hillmann highlighted that the Reuters article revolved around the term “deposit” used on the transaction
Bitcoin’s burgeoning on-chain economy is getting its own dollar-backed stablecoin.The new token Stably USD aims to become a go-to currency for traders transacting in the wave of novel assets being built on bitcoin, according to issuing company Stably. The crypto startup says its token can make trading in ordinals cheaper and more efficient than paying
The European Union’s financial stability watchdog has said that new regulations may be needed to cover large crypto conglomerates and smart contracts, as it warns that a growing digital asset and decentralized finance (DeFi) sector may come to pose a systemic risk to the economy. With the new Markets in Crypto Assets regulation (MiCA) set
The International Organization of Securities Commissions (IOSCO), a leading international body of securities regulators, recently published an influential report titled ‘Policy Recommendations for Crypto and Digital Asset Markets Consultation Report.’ This ground-breaking document provides 18 recommendations, each of them structured to offer guidance to regulators worldwide on handling the burgeoning crypto and digital asset markets.
Major trading firms in the United States, such as Jane Street Group and Jump Trading, are scaling back their involvement in the domestic crypto markets due to increasing regulatory uncertainties and associated risks. This retreat is causing a significant void in the once vibrant U.S. crypto landscape, which could deter interest from institutional investors. According
Artificial Intelligence (AI) innovator Anthropic announced today a landmark $450 million Series C funding round, securing significant investment to enhance its reliable AI products. The funding round was led by Spark Capital and included leading tech participants such as Google and Salesforce Ventures. Anthropic, a renowned player in the AI research and development field, has
With over two billion cups consumed each day, coffee is by far the world’s most popular drink. Almost every country has its unique take on the caffeinated drink, and many go to great lengths to create the perfect cup of joe. Not only does coffee play a role in the routines of families across the
Polygon,the scalable Ethereum layer-2 solution, has announced its intent to optimize its zkEVM (Zero-Knowledge Ethereum Virtual Machine) in the coming weeks. These enhancements are predicted to decrease transaction fees by around 20%, according to the company’s official Twitter account. Interestingly, these improvements will be achieved without the need for any data compression techniques. Transaction fees
Bitcoin of America, an Over the Counter (OTC) cryptocurrency exchange and a national operator of Bitcoin Kiosks, has been ordered to refund $86,000 to consumers in Connecticut, according to a recent announcement by the state’s Banking Commissioner, Jorge Perez. The firm, known for its presence around the country with Bitcoin ATMs or BTMs, had been
In a recent disclosure of the CEO’s legal billings, FTX CEO John J. Ray III has confirmed the existence of plans for FTX 2.0, the next iteration of the cryptocurrency exchange. The disclosed legal billings, totaling $290,190.39, shed light on the ongoing efforts by Ray and his team to recover funds and rebuild the collapsed
Cryptocurrency has become a popular digital asset used for several transactions in today’s digital world. But with its increasing popularity, incidents of the crypto scam are on the rise as well. To avoid fees and maintain anonymity, an increasing number of people are using cryptocurrency to purchase products and services and conduct payment transactions. Not
The Securities and Futures Commission (SFC) of Hong Kong concluded a consultation period today, revealing the finalized regulatory requirements for operators of virtual asset trading platforms licensed by the SFC. Over the consultation period, the SFC collected 152 written submissions from stakeholders including industry and professional associations, professional and consultancy firms, market participants, licensed corporations,
Crypto-focused investment firm Multicoin Capital has led a $2.3 million seed funding round for FastLane Labs, a maximal extractable value (MEV0) protocol for Polygon. The fundraise marks Multicoin’s third time backing infrastructure for MEV, a controversial way for validators to earn more money while ordering transactions into the blocks on a blockchain. MEV is a
Customers of Hidden Road, which provides prime brokerage and other trading services, are gaining access to the crypto trading platform run by Crossover Markets though a new collaboration, according to a statement. Crossover operates an execution-only platform, meaning customers need a credit sponsor to trade. Unlike centralized exchanges, customers cannot open an account and send
Ethereum co-founder Vitalik Buterin has published a thought-provoking blog post cautioning the blockchain community about the hazards of overextending Ethereum’s consensus mechanism beyond its central functions of block validation and network security. This post puts the spotlight on the potential systemic risks that certain implementations could pose to the Ethereum ecosystem. According to Buterin, the
Tornado Cash, a fully decentralized and open-source cryptocurrency mixer operating on Ethereum-based networks, has been subjected to a malicious takeover. This comes as another significant blow to the platform following its troubled history with regulatory authorities. On August 8, 2022, the U.S. Department of the Treasury issued sanctions against Tornado Cash. The platform was accused
ConsenSys, the parent company of MetaMask, took to Twitter to address and clarify a series of inaccurate claims circulating about changes in their terms of service, specifically around tax collection on crypto transactions. The company emphasized that MetaMask, a popular crypto wallet, does not collect taxes on cryptocurrency transactions, and no modifications have been made
The Securities Commission Malaysia (SC) ordered Huobi Global to stop operations in the country, including disabling its website and mobile applications, because it is operating a digital asset exchange without registration. The regulator told the company to cease circulating, publishing or sending advertisements to Malaysian investors, according to a Monday announcement. Operating a digital asset exchange
Cryptocurrency trading platform Hotbit said it ended all centralized exchange (CEX) operations, citing deteriorating operating conditions and changes in the broader crypto landscape. Users have until 04:00 UTC on June 21 to withdraw their assets from the platform, Hotbit said on Monday. Hotbit, which says it has 5 million users, suspended trading deposits and withdrawals last August after
Bankrupt crypto lender BlockFi has withdrawn statements relating to a wind-down plan published May 13 following an order from a U.S. bankruptcy court, court filings show. The estate was required to issue a “corrective letter” clarifying that the documents were posted prematurely and without court approval, an emergency order issued May 18 by New Jersey
Tangem, a prominent player in the blockchain industry, has announced it will unleash SHIB-themed cold wallets. These innovative card-shaped vaults are set to become essential tools for safeguarding tokens within the Shiba Inu ecosystem. Pre-orders for these cold wallets will commence on May 29, igniting anticipation among SHIB enthusiasts worldwide. The introduction of SHIB-themed cold
Aiming to reinforce regulation in the digital asset industry, the Texas legislature has enacted bipartisan House Bill 1666. Set to take effect on September 1, 2023, the legislation imposes rigorous requirements on digital asset service providers in terms of handling customer funds. Digital asset service providers, specifically those serving over 500 customers or holding at
In a significant announcement on the last day of the G7 summit, President Joe Biden took a firm stance against the protection of “wealthy tax cheats and crypto traders” while potentially jeopardizing food assistance programs. “I’m not going to agree to a deal that protects wealthy tax cheats and crypto traders while putting food assistants
According to Bloomberg, Hong Kong-based HashKey Group, Asia’s leading end-to-end digital asset management and finance house, is in preliminary discussions to raise up to $200 million, a move that could propel its valuation north of $1 billion, as Hong Kong emerges as a growing global crypto hub. The company, with operations extending to Singapore and
Greenland Financial Holdings, a subsidiary of Greenland Group, is planning to apply for a virtual asset trading license in Hong Kong. The company’s move into the virtual asset space will further diversify its business portfolio and enhance its global influence, according to Jing Geng, Director and CEO of GreenLand Group and Chairman and President of
Coinbase, a leading cryptocurrency exchange, has announced significant updates to its premium membership service, Coinbase One. Notably, the platform will now offer zero trading fees and enhanced staking rewards to its members. These features are accompanied by additional benefits from Coinbase’s partners like Messari and CoinTracker. These benefits are available for a subscription fee of
Vega Protocol’s token VEGA has gained over 20% over the last seven days, with the protocol itself ready to go live as soon as Monday. Vega is a decentralized finance (DeFi) platform for creating and trading derivatives. It was deployed on alpha mainnet earlier in May. The associated token, VEGA soared to a monthly high of $1.62
Sotheby’s on Friday concluded its sale of several rare non-fungible tokens (NFTs) seized from bankrupt crypto hedge fund Three Arrows Capital (3AC) expansive collection, bringing in $2,482,850 to recoup some of the lost funds. The auction house launched its multi-part sale featuring NFTs from the Grails connection, formed as part of 3AC’s asset portfolio primarily in
MIAMI BEACH, Florida – The Bitcoin-focused payments firm Strike is expanding its app to more than 65 countries from the current base of the U.S. and El Salvador. Strike CEO Jack Mallers made the announcement on Friday at the Bitcoin 2023 conference in Miami Beach, Florida. The Strike app uses Bitcoin and Lightning – a secondary network
