Rippleâs APAC Managing Director, Fiona Murray, has expressed concerns that the United States is lagging behind regions like Singapore and the UAE in fostering a crypto-friendly environment. During Token2049 in Singapore, Murray emphasized that while the U.S. has significant potential, it remains far behind in crypto regulation and innovation. Much of Rippleâs growth and innovation…
Terraform Labs is officially shutting down as its bankruptcy plan has been accepted. The SEC has accused the company of fraudulent activities that caused its investors to lose $40 billion when the TerraUSD and Luna tokens collapsed in 2022. After a long legal battle, the court has accepted its plan for bankruptcy. The firm has…
The Louisiana state government announced that it will begin accepting payments in select cryptocurrencies. The stateâs Treasurer said that the initiative was to bring innovation and flexibility to government systems. The crypto community worldwide has its eyes set on Singaporeâs Token 2049, as enthusiasts gather to discuss blockchain, web3, and everything crypto. Meanwhile, presidential candidate…
Terra is one of the fastest-growing ecosystems, and LUNA is a central notion in its network. LUNA could keep going up to a maximum price, as there is a massive market for Terra LUNA coins. Recently, Terra Luna Classic (LUNC) is on the brink of a potential 50% price surge, aiming for $0.000013 as anticipation…
Earlier today, Daniel M. Gallagher, a former SEC commissioner and current Chief Legal Officer of Robinhood Markets, appeared for testimony before the United States House of Representatives House Financial Services subcommittee on digital assets, financial technology, and inclusion. In his testimony, Gallagher pointed out that the current commissioners of the US SEC have been making…
SEC is in a bigger regulatory Scoop! The highly anticipated SEC crypto hearing is set for September 18, as former officials prepare to testify against the agencyâs handling of digital assets. The hearing, titled âDazed and Confused: Breaking Down the SECâs Politicized Approach to Digital Assets,â will examine the SECâs enforcement-heavy tactics and perceived overreach…
Anatoly Aksakov, Chairman of the Russian State Duma Committee on Financial Markets, announced that Russia will regulate cryptocurrency trading by November. Initially, only a few organizations will be permitted to trade, with plans to expand participation later. The Central Bank and the Ministry of Finance are drafting documents to determine the eligible entities. Cryptocurrency will…
September 14, 2024 at 02:30 AM GST updated: September 14, 2024 at 02:37 AM 2 mins read News SEC redefines âcrypto asset securitiesâ, easing confusion in crypto litigation and regulation. Ripple and Coinbase critique SECâs erratic enforcement, urging clearer crypto regulations. Court rulings favor XRP as non-security, potentially altering the regulatory approach to crypto. One…
The United States Securities and Exchange Commission (SEC) has been a major source of headwinds for the mainstream adoption of digital assets and web3 protocols. While its primary purpose is to enforce the law against market manipulation, the agency has been accused of overstepping its bounds regarding the cryptocurrency industry. Furthermore, the crypto community in…
The legal battle between Kraken, a major crypto exchange, and the SEC does not seem to be ending anytime soon. The crypto exchange has demanded a jury trial in the case filed against it by the SEC. Last month a California judge allowed the SECâs lawsuit against Kraken to proceed. Just like Kraken, Other crypto…
The US SEC is keeping its strict rules on how banks handle cryptocurrency assets. SEC Chief Accountant Paul Munter confirmed that the rules requiring firms to list crypto asset liabilities on their balance sheets are still in effect. The U.S. Securities and Exchange Commission (SEC) has reinforced its strict stance on limiting crypto custody services…
The US economy is on the doorstep of a recession. Certain economic indicators have shown clear signs of the possibility of the occurrence of such a recession. Fear has greatly impacted the investor landscape. Some investors have switched to safer assets, and many are preparing to make such a move in the near future. Cryptocurrencies,…
The UK Financial Conduct Authority (FCA) has revealed that over 87% of crypto registrations were either rejected, withdrawn, or refused as part of its ongoing efforts to combat fraud and enhance consumer protection. In its annual report, the FCA outlined new marketing rules for crypto assets. The regulator issued 450 consumer alerts against illegal crypto…
In a recent announcement, Japanâs three megabanksâMUFG, SMBC, and Mizuhoâare launching a pilot program for a cross-border stablecoin transfer platform called âProject Pax.â The initiative aims to improve the speed and efficiency of international business settlements. The trial will be run in collaboration with blockchain firms Progmat, Datachain, and TOKI, with the potential for more…
The defunct cryptocurrency exchange FTX is in the final stages of repaying its customers and creditors using stablecoins as initially planned. Earlier today, the address associated with the cryptocurrency exchange received 6.275 million USDT from OKX. The move by the current FTX officials comes a few days after the United States Securities and Exchange Commission…
Yet another blow for SEC in Coinbase vs SEC case, the lack of clear crypto regulations in the United States has created an unending war between the Securities and Exchange Commission (SEC) and established web3 firms led by Coinbase Global Inc. (NASDAQ: COIN). Although the topic of digital assets has been cited as a major…
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…
Crypto-friendly United Texas Bank sees regulatory complications from the US Federal Reserve. The US crypto regulatory landscape has shown increased activity in 2024. Crypto firmsâ services banks, in other words, crypto-friendly banks are a declining group of financial organizations within the sector. However, they have not been spared from regulatory impediments in the past. Recently,…
SEC Commissioner Mark T. Uyeda recently emphasized the need for tailored S-1 registration forms specifically designed for digital asset securities. Speaking at Korea Blockchain Week 2024 in Seoul, Uyeda argued that the U.S. SEC should adopt a more flexible approach to regulating digital assets, similar to how it handles other specialized financial products. Read more…
The post Japan Eyes Crypto as Financial Assets in 2025 Tax Reforms appeared first on Coinpedia Fintech News Japanâs crypto maneuver! On 30th September, in an official release, Japanâs Financial Services Agency (FSA) released its tax reform requests for the fiscal year 2025, highlighting virtual currencies in its âA plan to double asset incomeâ section….
The trial of Binance executive Tigran Gambaryan continued in Abuja on September 2, with Nigerian prosecutors arguing against his request for bail and minimizing his health issues. Lawyers for Nigeriaâs EFCC argued that Gambaryan was not in poor health, even though the government regulatorâs counsel submitted health records to the court showing he needed surgery….
The post Russia To Trial Cross-Border Crypto Payments To Avoid International Sanctions appeared first on Coinpedia Fintech News Russia will start its trial of cross-border payments using crypto next week to bypass international sanctions. However, several experts say that this effort may not work. The legislation passed does not lift an existing ban on using…
The U.S. House Financial Services Committee is gearing up for a series of crucial hearings in September, set to address several pressing issues in the crypto space. Among the topics on the agenda are decentralized finance (DeFi), the SEC oversight of digital assets, and the rise of âpig butcheringâ scams, a fraud practice involving scammers…
Less than a week after the arrest of Telegram CEO Pavel Durov in France over the weekend, a report has emerged that the Indian government is investigating the messaging platform over alleged criminal activities, including extortion and gambling. The ongoing probe on Telegram in India, which does not have a physical operating office in the…
Russia is working rapidly to utilize crypto as payment for international trades. In just 2 months, from lower house bills to becoming ready to test payments, they has worked very fast. Lower house of Russian parliament passed the bills in July and on August 8, the president approved them. By September, Russia will start testing….
The post Hong Kongâs SFC Finds Unsatisfactory Practices at Some Crypto Exchanges Seeking Full License appeared first on Coinpedia Fintech News As per a Bloomberg report, after conducting on-site inspections, Hong Kongâs SFC has found âunsatisfactory practicesâ at some of the cryptocurrency exchanges that are seeking a full license. The report cited that some of…
Crypto Live News Author: Nidhi Kolhapur Nidhi Kolhapur Author Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain. Aug 26, 2024 16:56 Indiaâs central bank Governor Shaktikanta Das has expressed that while the retail CBDC pilot…
The post Indian Government to Release Consultation Paper on Cryptocurrency Regulations appeared first on Coinpedia Fintech News The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper set to be released between September and October 2024,…
DCG clears debts! Digital Currency Group (DCG) announced that it has fully repaid its short-term debts as of June 2024, leaving only a $1.1 billion promissory note owed to its bankrupt crypto-lending subsidiary, Genesis. This promissory note is due in 2032. Over the past 18 months, DCG managed to repay over $1 billion to its…
Crypto Live News Author: Nidhi Kolhapur Nidhi Kolhapur Author Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain. Aug 23, 2024 12:51 Federal prosecutors have charged Michelle Bond, the domestic partner of former FTX executive Ryan…
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…
As the window for crypto legislation in 2024 narrows, key Republican figures, including Sen. Cynthia Lummis (R-Wyo.) and Sen. Tim Scott (R-S.C.), at Wyoming Blockchain Symposium 2024 remain optimistic about passing meaningful crypto laws this year. Politics to Drive Crypto Regulation Speaking at the SALT Wyoming Symposium, they highlighted the ongoing work in the Senate…
Good news for FTX creditors! FTXâs reorganization plan is on the brink of approval after securing substantial backing from its creditors. With 95% of creditors in favor, representing 99% of the claim value, the plan aims to distribute between $14.5 billion and $16.3 billion in recovered assets. This significant support demonstrates a general agreement among…
LUNA and LUNC prices briefly moved upward following a crucial announcement from Terraform Labs. LUNA is trading at $0.3289, reflecting a 0.50% increase, while LUNC climbed 2% to $0.000082. The surge in trading volume suggests growing interest among traders as the company prepares for significant developments. But whatâs causing the surge today? Read on. Terraform…
Crypto fund Ikigai Strategic was fined by the NFA for violations in operational procedures. The fund was one among the institutions that suffered major losses during the FTX collapse. In the past few months, within crypto regulations, there have been numerous reports of advancements and lawsuits. While leading cryptocurrency firms such as Coinbase and Ripple…
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…
As the summer lull continues in the crypto market, a series of intriguing factors and metrics suggest a big change might be coming in September. With Bitcoin currently moving sideways, some analysts predict a strong upward move in the fourth quarter. Meanwhile, whispers of China potentially unbanning crypto are adding to the anticipation, suggesting that…