Republican lawmakers are seeking more information from the SEC on how it addresses crypto airdrops. The House Committee on Financial Services chairman Patrick McHenry and the Majority Whip Tom Emmer have requested SEC Chairman Gary Gensler to clarify how the agency regards airdrops. They voiced their concerns regarding the current approach of the SEC and…
Changpeng Zhao, the founder of Binance, is expected to be released from a US prison on 29 September 2024. Zhao, also known as CZ, was convicted earlier this year for breaching the US anti-money laundering laws. Zhaoâs arrest was following increased regulatory pressure towards Binance, one of the biggest global crypto exchanges. The authorities have…
The cryptocurrency space has recorded massive growth within the relatively short period of 15 years. Its market capitalization stands at a staggering $2.09 trillion, double what it was about a year ago. This astronomical growth has triggered interest from Wall Street firms and traditional institutions that want a piece of the action. Wall Streetâs Interest…
Sam Bankman-Fried, the founder of FTX, has filed for an appeal in his fraud case. According to him, the trial judge was biased and that he was not given enough chances to defend himself. His legal team claimed that the trial rulings limited the key evidence that could have influenced the results. The appeal is…
Tether, the largest stablecoin in the world, announced on Friday that Jesse Spiro has been appointed head of government affairs. In this capacity, Spiro will oversee policy and engagement initiatives with legislators, regulators, and important stakeholders. According to a company blog post, Spiro has over six years of expertise in government and regulatory affairs. Spiroâs…
The U.S. Securities and Exchange Commission (SEC) has stated that it used the term âcrypto asset securityâ as a linguistic shortcut and not as a specific identification of any particular token as a security. The clarification came as a footnote within the agencyâs proposed amended complaint against Binance about the latterâs sale of these assets…
The US Commodity Futures Trading Commission (CFTC) has recently achieved an administrative stay on Kalshiâs US election trading. This decision was made by the Court of Appeals, which stopped Kalshiâs election markets less than 24 hours after they launched. This decision came after another District Court ruling that was in favor of Kalshi. It stated…
Indodax, Indonesiaâs largest cryptocurrency exchange, was hit by a massive cyber attack on September 11, 2024. It resulted in the loss of $22 million. The attack was aimed at hot wallets, and the attackers made away with BTC, ETH, and TRX, among others. Therefore, Indodax has ceased operations to fix the vulnerability and avoid more…
Cryptocurrencies as digital assets have attracted many investors due to their promising potential. Besides serving the functions of fiat currency, that is, enabling anyone to send and receive payment, crypto assets have other uses. They can also be traded, and the funds can be stored in digital wallets. These wallets allow investors to keep their…
The Nigerian Securities and Exchange Commission (SEC) has vowed to crack down on unlicensed cryptocurrency businesses targeting Nigerians. This comes just two weeks after approving two crypto exchanges and promising to consider similar applications. The SEC aims to protect investors without hindering innovation. To achieve this balance, Emomotimi Agama believes Nigeria needs a clear regulatory…
Binance, one of the worldâs leading crypto exchanges, announced that its subsidiary, Tokocrypto, secured a Physical Crypto Asset Trader (PFAK) license in Indonesia. As a result, Tokocrypto is now the third exchange in the country to hold a PFAK license issued by Indonesiaâs Commodity Futures Trading Regulatory Agency (Bappebti). Tokocryptoâs License Details and Market Implication…
September 8, 2024 at 01:15 AM GST updated: September 8, 2024 at 12:40 AM 2 mins read News Judge orders SEC to provide Coinbase crucial documents on digital asset classification. Court denies Coinbaseâs request to subpoena SEC Chair Gary Genslerâs emails. Expanded SEC witness testimony required in Coinbaseâs ongoing legal battle. The U.S. District Court…
Eighty-eight business leaders, including Ripple co-founder Chris Larsen, have endorsed Vice President Kamala Harris for president, in a new letter shared by CNBC on Friday. Some crypto investors are puzzled by Larsen’s move, given the Biden administration’s stringent regulatory stance on cryptocurrency and its ongoing lawsuit against Ripple. The U.S. Securities and Exchange Commission (SEC)…
In a significant development in Coinbaseâs lawsuit against the US Securities and Exchange Commission (SEC), the former won a partial victory. As per Southern District of New York Judge, Katherine Faillaâs ruling the SEC is to provide key documents to Coinbase. Coinbase Wins Document Disclosure from SEC On September 5, Judge Failla ordered the SEC…
David Schwartz, Rippleâs CTO, has recently criticized the Federal Reserve for imposing sanctions on United Texas Bank. Schwartz voiced his opposition to the central bankâs decision, stating that this is an unjust way to deal with situations relating to crypto companies. He made these remarks amid mounting pressure on the cryptocurrency industry from the U.S….
Binance, the worldâs largest cryptocurrency exchange, has received consent to operate in Kazakhstan. According to the blog post on the website, Binance Kazakhstan is on its way to becoming the regionâs first fully licensed crypto exchange. The Astana Financial Services Authority (AFSA) recently recognized the firm. Binanceâs Kazakhstan Breakthrough Binance Kazakhstan passed through several external…
Coinbase CFO Alesia Haas recently proposed using the exchangeâs Commerce platform to allow cryptocurrency payments to be sent to US Vice President Kamala Harrisâ campaign. Speaking at Citiâs 2024 Global TMT Conference in New York on September 4, Haas stated that Vice President Harris had a âhuge opportunityâ to win over voters in the 2024…
Former 2024 US Republican presidential candidate Vivek Ramaswamy has voiced strong concerns about the current state of crypto regulations in the country. He criticized the âregulation by enforcementâ approach, arguing that it creates ambiguity and uncertainty for crypto firms. There is a need for clear and consistent policies to support the growing digital asset industry,…
Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this…
Decentralized exchange Uniswapsâ native token, UNI, is on a bullish rampage today following a historic settlement with the US Commodity Futures Trading Commission (CFTC). The spike in the token comes amid a pessimistic outlook in the crypto market, suggesting renewed confidence in the exchange. Details of Uniswap and the CFTC Settlement The CFTC issued an…
FTX Derivatives Exchange is reportedly on track to distribute $16 billion in assets to its affected creditors. The bankrupt firm recently amended its reorganization plan, offering the possibility of total repayment. These refunds might include the amounts of the bankruptcy claims and interest to the non-governmental creditors. The total property value collected and distributed to…
The SEC has charged investment adviser Galois Capital with crypto custody violations, including holding of investor assets on FTX. Galois Capital has settled with the regulator and will pay $225,000 in civil penalty. The US Securities and Exchange Commission has charged Florida-based investment adviser Galois Capital Management LLC over the companyâs failure to properly custody…
Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this…
Binance CEO Richard Teng has criticized the treatment of Tigran Gambaryan, the head of crime compliance at Binance, who was detained in Nigeria. A video clip that surfaced recently shows Gambaryan barely able to walk without proper medical care. The footage has fueled demands for his release as worries over his condition persist. Binance CEO Demands…
The growth of Bitcoin (BTC) thus far this year has been hinged specifically on several macroeconomic indices. As market investors evaluate monetary policies from the United States Federal Reserve, they have managed to act cautiously all year. This caution is showcased in the tight trading range in Bitcoinâs price since March. While the market has…
A recent price manipulation case against Elon Musk and his electric car company, Tesla, has been thrown out. It was alleged that the price of Dogecoin was manipulated, which led to $258 billion in losses. A US District Court judge tossed out the case in stating âno reasonable investorâ could base their investment choices on…
Recent incidents from across the globe highlight the rising cases of cryptocurrency scams. People from different parts of the world have been defrauded of a lot of money by advanced fraudsters. Many governments across the globe have intensified their fight against such scams and raising awareness of the risks of such investments. Detailed Operation in…
SEC has charged Abra with securities violations related to the crypto platformâs Abra Earn program. The regulator previously charged Genesis and Gemini crypto exchange over securities violations related to Gemini Earn. The US Securities and Exchange Commission has charged crypto platform Abra with the offer and sale of unregistered securities. SECâs charges filed against Plutus…
Binance will soon support Eurite, a new stablecoin backed by the Euro. Established by Banking Circle S.A., EURI complies with the European Unionâs Markets in Crypto-Assets regulation (MiCA). The stablecoin will be listed on the Binance exchange from August 28, 2024. It is paired with EUR and USDT. Binance Aligns with MiCA in EURI Listing Binanceâs listing…
News of the Ethereum Foundation depositing 35,000 ETH into crypto exchange, Kraken on Friday took the market by storm with community members seeking an explanation. However, Ethereum Foundation member Aya Miyaguchi cleared the air stating that the recent ETH movement was part of their treasury management activities. Ethereum Foundation on ETH Sell-off Offering insights into…
Kraken cryptocurrency exchange has been directed by US District Judge William H. Orrick to respond to the securities law violations complaints made by the SEC. The judge has allowed twenty days for a reply. This follows another legal set back with the Australian Securities and Investment Commission. SEC Claims Against Kraken The SEC claims Krakenâs…
đ Stay Ahead with AltcoinDaily.co! đ US prosecutors have made notable progress in two separate cases involving the notorious âpig butcheringâ schemes. These fraudulent operations have caused victims loss of millions, but recent victories by the Department of Justice highlight the ongoing efforts to fight such crimes. $5M Seized On August 22, the US District…
Michelle Bond, a Former Ripple Labs Executive is charged with violating campaign finance laws. She is a former US congressional candidate and the mother and her LinkedIn profile shows she worked at the Association for Digital Asset Markets between 2020 and 2022. Bond, Partner Of Ex-FTX Executive, Lied About Source of Campaign Fund Bond, partner…
Rumors that Binance founder Changpeng âCZâ Zhao has been released from prison have taken over across the crypto community. As a result, questions have now been raised about the legitimacy of the speculations. As a reminder, CZ was sentenced to four months in prison after pleading guilty to money laundering charges during his time as…
đ Stay Ahead with AltcoinDaily.co! đ With intentions to publish a consultation paper on crypto rules by October 2024, the government of India is about to make a major action in the field of bitcoin control. Under the Department of Economic Affairs (DEA), this project is a vital first step in determining Indiaâs attitude to…
đ Stay Ahead with AltcoinDaily.co! đ The authorities in Malaysia have destroyed 985 bitcoin mining machines valued at around 1.98 million Malaysian ringgits (around $452,500). This action is part of an ongoing crackdown on power theft linked to bitcoin mining in the country, as reported by local media. The destruction of the mining rigs, which…
August 20, 2024 at 09:00 PM GST updated: August 20, 2024 at 08:39 PM 2 mins read News Mango Markets DAO proposes a $223K SEC settlement to resolve legal issues. Over 106M votes support Mango DAOâs settlement proposal with SEC. Mango DAO plans to cease MNGO token transactions in the US post-settlement The Solana-based Mango…
đ Stay Ahead with AltcoinDaily.co! đ The Supreme Court of China and public prosecutor have revised the countryâs Anti-Money Laundering (AML) laws to include transactions involving virtual assets. This update marks the first major revision of the AML laws since their adoption in 2007. During an August 19 conference, the Supreme Peopleâs Court and the…
The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal tax income from crypto-related activities. The FIRS is seeking support from the Nigerian National Assembly to implement…
Yandex bans ads for crypto exchanges, smart contracts, mining, and ICOs in Russia. Ads for mining equipment, educational content, and legal advice are however exempted. Yandex will allow crypto ads outside Russia with strict compliance to local regulations. In a significant shift reflecting stringent regulatory measures in Russia, Yandex, the countryâs largest search engine, has…