“Events like FTX have highlighted the need for a more traditional approach to things,” said Archax Chief Marketing Officer Simon Barnby in an interview. “As an FCA-regulated custodian, we are permitted to hold cryptocurrencies, tokenized assets like funds or real estate, as well as traditional instruments and cash for our clients.” Source
The United States Securities and Exchange Commission (SEC) admitted on record that the sale of LBRY Credits (LBC) tokens in the secondary market doesn’t constitute a security. The settlement came during an appeal hearing in the LBRY vs. SEC case on Jan. 30. LBRY Hearing: The Stakes for ALL Crypto https://t.co/YPbrBkw0Od — CryptoLaw (@CryptoLawUS) January 30, 2023 In what many called a victory for the entire crypto industry against the SEC’s overreach regulation by enforcement, Attorney John Deaton settled a major debate during the appeal hearing. The SEC was awarded…
The United States Securities and Exchange Commission (SEC) admitted on record that the sale of LBRY tokens in the secondary market doesn’t constitute a security. The settlement came during an appeal hearing in the LBRY vs. SEC case on Jan. 30. LBRY Hearing: The Stakes for ALL Crypto https://t.co/YPbrBkw0Od — CryptoLaw (@CryptoLawUS) January 30, 2023 In what many called a victory for the entire crypto industry against SEC’s overreach regulation by enforcement, Attorney John Deaton settled a major debate during the appeal hearing. SEC was awarded summary judgment in its…
As nonfungible tokens (NFTs) attract more users, they also capture the eyes of scammers. Bad actors in Web3 have set their sights on digital collectibles, with millions being lost through scams and various attacks. However, according to professionals working in the Web3 space, there are multiple ways and tools to prevent being a victim of NFT theft. In addition, users can also take various actions after losing their digital collectibles to hacks. Ronghui Gu, the co-founder and CEO of blockchain security firm CertiK, told Cointelegraph that the first and most…
In the key principles of its upcoming regulatory framework, the Hong Kong Monetary Authority (HKNA) didn’t find a place for algorithmic stablecoins. Instead, the chief financial regulator will demand all stablecoin issuers back up their values with underlying reserve assets at all times. On Jan. 31, the HKNA issued the consultation conclusion to the discussion paper on crypto and stablecoins, summarizing the feedback from 58 submissions. In its summary, the regulator repeats the popular formula of a “risk-based and agile” approach, which is necessary for the maturing crypto industry. The…
Algorithmic stablecoins like terraUSD will not be accepted under the planned regulatory regime, the Hong Kong Monetary Authority said. Source
Kazakhstan, one of the world’s biggest Bitcoin (BTC) mining destinations, issued a consultation paper to gauge public interest in proposed amendments to improve the cryptocurrency trading framework. The policy paper, released on Jan. 27, was laid down by the Astana Financial Services Authority (AFSA), a Kazakh regulator. The AFSA pointed out that the Astana International Financial Centre’s Digital Asset Trading Facility (DATF) regulatory framework dates back to 2018 and that the amendments seek to introduce certain enhancements. AFSA’s analysis highlighted problems related to the ongoing supervision of crypto exchanges, revealing “contradictions, inefficient provisions and uncertain…
“Digital assets are a critical part of the future, a radical new way for how assets will be represented, from currencies to real estate,” said Andreas Sack, DekaBank’s product owner for digital assets custody. “Today we make another important step towards laying the foundation for giving our institutional investors and millions of people in Germany access to this transformational opportunity,” Source
Ordinals, a new way of using and getting content using Bitcoin, are enabling creators to harness the utility of NFTs (non-fungible tokens) directly from the blockchain, essentially creating native Bitcoin NFTs. This has stirred the pot in some circles, which are now discussing if this is the way in which Bitcoin’s blockchain should be used, and how this new use case will affect bitcoin nodes and fees in the future. Ordinals Enable Bitcoin NFTs Courtesy of Taproot A newfound use case for the Bitcoin chain is now being tested by…
Bitcoin (BTC) swapped bullish gains for chop into Jan. 31 as the end of the month saw nervous price action. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $46 million of longs liquidated Data from Cointelegraph Markets Pro and TradingView tracked a less confident BTC/USD as it briefly wicked to just above $22,500 on Bitstamp overnight. A rebound saw the pair flip $23,000 to short-term resistance, and was still trading below that level at the time of writing. The stakes remained high for traders both long and short with the monthly…