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While unlikely, Bloomberg’s ETF analysts conceded that there’s always a possibility that SEC Chair Gary Gensler could be waiting until the last moment to deny the flurry of pending spot Bitcoin ETF applications. There’s a slim chance the United States Securities and Exchange chief Gary Gensler could pull the plug on spot Bitcoin (BTC) exchange-traded funds in one “amazingly sadistic” move, according to Bloomberg ETF analysts .  In an Oct. 31 tweet directed at senior Bloomberg ETF analysts James Seyffart and Eric Balchunas, ETF commentator Dave Nadig posed whether Gensler may be allowing for spot Bitcoin ETF applications to pile up just to deny them all at once in a “semi-comedic rug-pull.” “I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comedic rug-pull,” said Nadig. I'm sure it will be much more boring than this -- but sometimes it does feel like this is all a setup for a giant Gensler semi-comed...

A U.K. parliamentary committee called for a crack down on sports fan tokens and recommended the government issue a code of conduct for NFT platforms. A bipartisan parliamentary committee has urged the British government to protect creators from copyright infringement associated with nonfungible tokens (NFTs) and address potential harms from sporting groups issuing digital assets. In an Oct. 11 press release, Culture, Media and Sport Committee members warned the “most pressing issue” was the risk to artists’ intellectual property rights arising from the ease and speed at which NFTs can be minted, compared to the slow process for artists looking to enforce their rights. “Artists are at risk of seeing the fruits of their hard work pinched and promoted without permission while fraudulent and misleading adverts add an extra layer of jeopardy for investors involved in what is already an inherently risky business,” said committee chair Dame Caroline Dinenage. In an accompanying report, the c...

At the Futures Industry Association Expo 2023 conference, Rostin Behnam, the head of the US Commodity Futures Trading Commission (CFTC), emphasized the need for a robust regulatory framework in the crypto industry. Behnam noted that the CFTC’s Enforcement Division has issued 131 monetary awards since 2015, with 45 related to digital asset fraud, constituting approximately 34% of the total. “If you require an analogy, think about whether you would be comfortable on the road if only some individuals were required to have a drivers’ license, or whether, given the choice, you would entrust your healthcare to an untrained, or unlicensed physician.” Rostin Behnam, CFTC Chair In his assessment, roughly 70% of crypto currencies be designated as commodities . Accordingly, he called upon Congress to establish definitive regulations for digital assets and broaden the CFTC’s jurisdiction in this regard. You might also like: US congressman pushes bill to shield privacy ...

Coinbase recently visited Washington D.C. to advocate for clearer crypto regulations, highlighting the industry’s call for more transparent governance. Earlier, Coinbase and several crypto stakeholders took their “Stand with Crypto” campaign to Washington D.C. to garner support for clearer crypto regulatory frameworks. On Sep. 27, a delegation led by Coinbase CEO Brian Armstrong and approximately 40 crypto founders in the United States converged in the capital. Their objective was to implore lawmakers to back a new set of regulations designed specifically for the digital currency market. Here at our nations capital for #StandWithCrypto day with 40 crypto founders from across the country. It’s time for America to join the rest of the G20 and get some clear rules on the books. pic.twitter.com/oQCBGH2yGY — Brian Armstrong ️ (@brian_armstrong) September 27, 2023 Previously, the Republican-dominated House Financial Services Committee and House Committee on Agriculture ha...

Tether in its email said they found Cake DeFi to be controlled by “another corporation that resides in Singapore,” and thus they won’t be allowed to redeem USDT. Tether, the largest stablecoin issuer behind USDT, has reportedly changed its terms of services (ToS) in Singapore. An email shared by the decentralized finance protocol Cake CEO on Sept. 25 shows the changes to Tether's ToS prohibiting certain customer base from redeeming USDT. The CEO of Cake Group Dr. Julian Hosp took to social media platform X (formerly Twitter) to share the email received from Tether informing that they cannot redeem USDT for USD due to the changes in the ToS of the stablecoin issuer just one day ago. Ok, so, I won't be able to tell you if redeeming $USDT into $USD is actually possible, due to being in #Singapore, which was a recent change to the @Tether_to ToS from one day to another. Interesting. pic.twitter.com/1YzNqkbjMO — Dr. Julian Hosp (@julianhosp) September 25, 2023 Hosp in his X ...

SEC commissioners Hester Peirce and Mark Uyeda described the NFT sales as a "common phenomenon" in the world of creators. The United States Securities and Exchange Commission (SEC) charging nonfungible token (NFT) project Stoner Cats sparked feedback from commissioners Hester Peirce and Mark Uyeda, arguing that the project’s activity constitutes fan crowdfunding , which they believe is common for artists.  On Sept. 13, the SEC charged Stoner Cats 2 LLC, the firm behind the animated series dubbed “Stoner Cats,” with conducting an unregistered crypto- securities offering using NFTs. Stoner Cats 2 LLC agreed to a cease-and-desist order and other imposed measures by the commission. Making its case, the SEC argued that the NFTs were marketed by the company as having potential for secondary sales and implied that their value would rise. In addition, the SEC pointed out that the company will receive a 2.5% royalty on every secondary sale. The SEC highlighted that the company sold...

Russia’s Finance Ministry is mulling ways to bring more liquidity to the market by giving a green light to DeFi organizations. With sanctions against Russia starting to bite, Moscow is seeking new ways to keep its markets afloat by legalizing decentralized finance. Speaking at Crypto Summit 2023, Finance Ministry official Ivan Chebeskov revealed that the move aims to bring more liquidity to digital financial assets (DFAs), a tokenized form of traditional derivatives or real-world assets. The ministry is actively supporting the development of DFAs but understands that in their current form, these assets “will not work,” Chebeskov was quoted as saying by Interfax news agency on Sept. 12. “We actively advocate developing of DFAs, but we understand that DFAs alone will not work, we need a bundle of DFAs and the decentralized world of finance to use the liquidity that already exists in decentralized finance, [to use] the liquidity that people have in cryptoc...

Coinbase outlines a strategy for international growth, focusing on countries with clearer cryptocurrency regulations. Coinbase, a cryptocurrency exchange headquartered in the United States, has announced its intentions to concentrate its near-term operations in countries with more defined cryptocurrency regulations. In a blog post on Sept. 6, vice presidents Nana Murugesan and Tom Duff Gordon identified six key markets: the European Union, United Kingdom, Canada, Brazil, Singapore, and Australia. The post elaborated that these regions have been making strides in creating clearer rules around cryptocurrency, which makes them attractive for business operations. Today, 83% of G20 members and major financial hubs have made progress toward regulatory clarity for crypto. But the US is an outlier. A picture paints a thousand words. https://t.co/DpxoKFr4yV pic.twitter.com/KvQ4q0zlsn — Coinbase ️ (@coinbase) September 7, 2023 You might also like: Coinbase will remain in US ...

The blockchain analytics firm claims Grayscale is the world's second-largest BTC entity. Blockchain analytics platform Arkham Intelligence claims to have identified the addresses of the Grayscale Bitcoin Trust. The trust consists of more than 1,750 addresses holding a total of over $16 billion worth of Bitcoin (BTC), according to a Sept. 6 thread on X (formerly Twitter). Arkham claimed that Grayscale is “the 2nd largest BTC entity globally.” Breaking: Arkham has identified the Grayscale Bitcoin Trust’s holdings on chain. It is the 2nd largest BTC entity globally, holding >$16B of BTC. Though Grayscale publicly reports balances, they have refused to identify the on-chain addresses of the trust. https://t.co/uEN4kNldpm pic.twitter.com/p9GfrthoKR — Arkham (@ArkhamIntel) September 6, 2023 The Grayscale Bitcoin Trust holds over $16 billion in BTC. Its issuer, Grayscale, is currently battling with the U.S. Securities and Exchange Commission (SEC) as it attempts to transform the tr...

The EOS Network Foundation has received whitelist approval from the Japanese regulator . Its token EOS has gained 4% amid the news. Initially, the EOS token will start trading on the cryptocurrency exchange BitTrade in September. Later, the token will be traded against the Japanese yen on different regulated exchanges nationwide. The #ENF is delighted to announce a significant development in #EOS’ journey towards widespread adoption. The $EOS token has been granted whitelist approval by the Japan Virtual and Crypto Asset Exchange Association (JVCEA). Read more https://t.co/06vqVmbF2U pic.twitter.com/MfNxjsWc90 — EOS Network Foundation (@EOSnFoundation) August 30, 2023 Following the news, EOS token has gained 3.7% in 24 hours, according to CoinMarketCap. Its market cap surged 4.5% to $688 million. EOS price | Source: CoinMarketCap The Japan Virtual and Crypto Asset Exchange Association (JVCEA) is a self-regulated entity composed of crypto exchanges in Japan. The organiza...

The popular crypto tipping app Damus is making headlines as it faces potential removal from the Apple App Store due to claims of non-compliance with review guidelines. Apple has reportedly issued a warning to Damus, stating that the app’s version 1.4.3 violates review guidelines, and specifically takes issue with the in-app tipping function. In a recent tweet, Damus representatives clarified that they updated the app’s user agreement to make its compliance with Apple’s guidelines. Looks like we are getting removed from the appstore even after updating our app to make it clear that no digital content is getting unlocked when users are tipped. Users are only ever tipped after posts are made, the idea that content is being sold is nonsense. We will be filing… pic.twitter.com/Su945kE37v — Damus️ (@damusapp) June 26, 2023 More precisely, the guidelines now clearly state that the application is not selling content and tips can only be given for content that w...

Ripple’s operations gear up in Europe and Asia despite an ongoing lawsuit with the U.S. Securities and Exchange Commission. Cryptocurrency payments service provider Ripple continues to see global adoption of its payment services despite a long-winded legal battle with the United States Securities and Exchange Commission (SEC) over its XRP (XRP) token. In a wide-ranging interview with Cointelegraph at Money 20/20 in Amsterdam, Sendi Young, Ripple’s managing director for Europe and the United Kingdom, unpacked the firm’s growing remit worldwide, despite ongoing regulatory scrutiny in the United States. Cryptocurrency exchanges and businesses have clashed with U.S. regulators over the past year, with a lack of regulatory clarity threatening to stifle innovation and adoption of blockchain-based services, systems, and cryptocurrencies. Meanwhile, the European Union is well on its way to instituting a set of requirements and standards for the cryptocurrency industry across the continent af...

Crypto mining firm Riot Platforms seeks to terminate “certain hosting agreements” with Rhodium and requests exemption from any owed power credits to the counterparty. Crypto mining firm Riot Platforms – formerly Riot Blockchain – is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin (BTC) miner , Rhodian Enterprises, according to its Q1 2023 report. Published on May 10, Riot's Q1 2023 financial report stated that Whinstone – a wholly owned subsidiary of Riot – has filed a petition against Rhodium Enterprises on May 3, alleging a breach of contract for failing to pay “certain hosting and service fees under agreements." Riot seeks to recover “more than $26 million,” plus legal fees and other expenses that are incurred during the legal proceedings, as outlined in the report. It was further requested that “certain hosting agreements” with Rhodium are terminated and "no power credits are owed to Rhodium.” Extract of Riot Platforms qua...

The Web3 wallet allows institutions to control which employees are allowed to use the tokens held within it. Securities token platform INX has launched a wallet with compliance features for institutions, according to a May 3 announcement. The new wallet was created in partnership with wallet infrastructure provider BitGo and uses multi-party computation (MPC) technology. Exciting announcement! INX now collaborates with @BitGo to enable institutional #investors to fully and confidently participate in the #security #tokens market and the greater digital economy: ️https://t.co/AbpdS86lYk — INX (@INX_Group) May 3, 2023 INX securities tokens exist on the Ethereum network and follow the ERC-1404 token standard. The standard was created in 2018 to allow for compliance-friendly Ethereum tokens. These tokens can only be transferred between users that have passed identity verification with a participating institution. The new wallet allows institutions to comply with cybersecurity and cu...

Investing in assets "outside of the traditional financial system” is the only way to preserve one’s wealth, according to the former BitMEX CEO. The majority of people will have their wealth progressively eaten away by the devaluation of money, according to Arthur Hayes, the co-founder and former CEO of crypto derivatives exchange BitMEX.  According to Hayes, due to the huge amount of public debt accumulated by the world’s largest economies, governments will have no choice but "inflating it away" through money printing.  Thus, the only way to escape the progressive destruction of fiat wealth is by acquiring assets outside the traditional financial system, such as crypto, the purchasing power of which doesn’t fall compared with the cost of energy.  “My whole goal with all of my investing and is to preserve capital so that I can consume the same amount of energy or whatever energy amount that I would like from now and into the future,” Hayes said in an exclusive interv...

Ran Goldi, the vice president of payments at Fireblocks, believes that affordability and speed will keep big brands that have implemented crypto payments in the last two years. Hashing It Out Episode 16 explores one of the most popular use cases for crypto currencies: payment s. Elisha Owusu Akyaw is joined by Ran Goldi, vice president of Payments at Fireblocks, to explore the rapidly evolving world of crypto and payment s, the steps necessary for adoption, the role of stablecoins, and the hurdles — such as the collapse of crypto -friendly banks in the United States. The conversation begins with a discussion on the impact of the collapse of crypto -friendly banks in the United States. Goldi believes that the current banking issues in the U.S. are not helping with crypto adoption, especially with institutions. These issues shake the firms’ confidence in using Blockchain technology like stablecoins to move money globally, according to the vice president of Payments at Fireblocks. “We...

Stablecoins are seen as a potential solution to crypto’s banking problem, but some of them are currently not immune to banking issues. The collapses of banks like Silvergate have certainly impacted cryptocurrency exchanges but there are ways for the industry to survive without the support of banks, one executive believes. Crypto exchanges significantly rely on traditional banking systems for customer deposits, which makes them vulnerable to various banking issues, according to Bitstamp USA CEO and global commercial officer Bobby Zagotta. The executive believes that stablecoins — cryptocurrencies whose value is tied to fiat currencies or other assets — could be a solution to crypto’s banking problem. “We are currently discussing how stablecoins can offer us an alternative to traditional banking,” Zagotta said in an interview with Cointelegraph on March 27. He added that stablecoins could potentially unlock new capabilities for the industry, allowing it to look at banking from a new p...

On this week’s episode of The Market Report, Cointelegraph’s resident experts explain what is going on with banks collapsing, stablecoins depegging and what you should do to stay safe. This week on The Market Report, the resident experts at Cointelegraph discuss all the details regarding the latest bank collapse and the USD Coin (USDC) depeg. We kick things off with this week’s top stories Silicon Valley Bank collapse: Everything that’s happened until now The sudden collapse of Silicon Valley Bank (SVB) has quickly unfolded over the last week, depegging stablecoins , leading regulators in the United States and the United Kingdom to prepare emergency plans and raising fears among small businesses, venture capitalists and other depositors with funds stuck at the California tech bank. Our experts here at Cointelegraph Markets & Research break down everything that has happen ed so far, so you’re up to date with all the latest developments.  ‘Nobody left to bank crypto companies’ — Cr...

Despite stepping down as CEO for three years, Yuzu continued to have a significant influence on the company being the firm’s largest stakeholder. Yuzo Kano, the co-founder of Japan-based cryptocurrency exchange bitFlyer, is seeking to reinstate himself as CEO in a shareholders meeting next month, in an apparent bid to reinvigorate what he claims is a stagnating firm.  Kano resigned in 2019 following a series of management disputes but is now determined to reinvigorate the crypto firm and lead it toward an Initial Public Offering (IPO) in the coming months, according to a Feb. 26 report by Bloomberg. The former CEO also said he also wants to put Japan back on the map in the world of cryptocurrency. “I will make it capable of fighting on the international stage,” the bitFlyer co-founder said in a recent interview. Kano shared the Bloomberg post on Feb. 27 to his 111,500 Twitter followers. Source: Twitter. According to the interview, if reinstate d, he intends on introducing stablecoins ...

Delphi Lab's general counsel said the SEC was being "more thorough than usual" in its lawsuit against Terraform Labs and its co-founder Do Kwon. The United States Securities and Exchange Commission’s (SEC's) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins, according to a lawyer. Gabriel Shapiro, general counsel at investment firm Delphi Labs, explained to his 33,800 Twitter followers on Feb. 16 that the SEC’s arguments in its complaint against Kwon and Terraform were “more thorough than usual.” whew lad, lots to digest in the SEC lawsuit vs Do Kwon and Terraform Labs right off the bat, a very interesting fact is that the SEC is being more thorough than usual--specifically running through the Howey test for various assets (UST, LUNA, and wLUNA) and also alleging that… https://t.co/1JsBQijMnw pic.twitter.com/qHuL6mKpeo — _gabrielShapir0 (@lex_node) February 16, 2023 Shapiro’s analysis follo...