Day: March 28, 2023

Here’s why CFTC suing Binance is a bigger deal than an SEC enforcement

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The United States Commodity Futures Trading Commission (CFTC) sued crypto exchange Binance for violations of trading and derivatives laws. The lawsuit, filed on March 27, alleged that the global crypto exchange offered its derivatives trading services to U.S. customers without applying for a derivatives license. The lawsuit from the commodities watchdog in the U.S. took many by surprise with market observers and reporters claiming it to be a political move. Eleanor Terrett, a Fox news reporter tweeted that sources close to the CFTC suggest the commodities regulator decided to go…

Newly Formed ZeroSync Association Brings Zero-Knowledge Proofs to Bitcoin

Linus was living in Santa Teresa, a remote beach town on Costa Rica’s Nicoya Peninsula that has one ATM machine with a 10pm curfew. It drove Linus nuts and forced him to research alternative payment methods. He stumbled upon Bitcoin, befriended the well-respected “Bitcoin sorcerer” Ruben Somsen (who coined the term “ZeroSync”), and the rest as they say, is history. Source AssociationBitcoinBringsFormedNewlyProofsZeroKnowledgeZeroSync CryptoX Portal

It Is ‘Not a Currency’ and Has a ‘Fundamental Value of Zero’ – Bitcoin News

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Steve Hanke, professor of applied economics at Johns Hopkins University, has criticized bitcoin, stating it is not a currency. The economist, known for his vocal opinions about crypto and for the promotion of dollarization initiatives in Latam, blasted bitcoin, saying it has a “fundamental value of zero,” and that it is a “highly speculative asset.” Steve Hanke Criticizes Bitcoin’s Function and Value Steve Hanke, professor of applied economics at Johns Hopkins, has criticized bitcoin and its value in one of his latest tweets. The economist, known to be very vocal…

Zero-knowledge proofs coming to Bitcoin, overhauling network state validation

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Bitcoin (BTC) users will soon be able to make use of zero-knowledge proofs (ZKPs) to expedite the process of verifying individual blocks and, eventually, the entire blockchain.  Swiss-based nonprofit ZeroSync Association is developing tooling which allows users to validate the state of the Bitcoin network without having to download the blockchain or trust a third party for verification. ZeroSync Association is an organization that was formed to develop and maintain open-source software that enables succinct zero-knowledge proofs (ZKPs) on the Bitcoin blockchain. The group makes use of StarkWare’s proprietary zero-knowledge…

How does the monetary supply affect cryptocurrencies?

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The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on day-to-day crypto activity. In today’s episode, crypto analyst Pechman discusses the fundamentals of money, including how to calculate supply, the effects of savings deposits and money market funds, and how central banks can inflate without effectively “printing money.” Pechman explains why near-zero interest rates and reduced financial institution…

Blog: Director’s Update – celebrating success and challenging ourselves for the future

28 March 2023 Warren Seddon is ICO Director of Freedom of Information and Transparency responsible for the ICO’s freedom of information (FOI) policy and guidance. Warren also oversees the handling of people’s complaints to the ICO over public authorities’ responses to requests for information under the FOI Act and Environmental Information Regulations (EIR).   It’s just over a year since my first blog when I said that I wanted to keep you up to date on how we are improving our service, including how we will tackle our backlog of…

ICO to prioritise Freedom of Information complaints with significant public interest

The Information Commissioner’s Office (ICO) has announced a new approach to prioritise complaints made under the Freedom of Information Act (FOIA) where there is significant public interest. As part of the ICO’s efforts to improve its FOI services, the new prioritisation framework will ensure that complaints where there is significant public interest in the information requested will now be dealt with quicker than previously. For the past year, the ICO has streamlined its processes to better handle the volume and complexity of FOI complaints it receives, so it can do…

OKX Becomes Another Crypto Exchange to Start HK Branch

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The number of big cryptocurrency brands looking to enter the Hong Kong market continues to grow. All thanks to new regulations on digital assets, which are set to take effect in June and make China’s special administrative region a crypto enclave. OKX, the second-largest exchange in the world in terms of trading volumes, has just announced plans to open a branch in HK. OKX to Apply for VASP License and Launch Hong Kong Subsidiary According to Tuesday’s press release, OKX has established a Hong Kong entity to launch virtual asset…

Bitcoin price retains $27K, but forecast says ‘correction is incoming’

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Bitcoin (BTC) attempted to rescue $27,000 support on March 28 as dust settled on United States regulatory action against largest exchange Binance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance CEO dimisses “disappointing” complaint Data from Cointelegraph Markets Pro and TradingView showed BTC/USD repeatedly testing the $27,000 mark overnight. The pair had seen downward volatility the day prior as news hit that Binance was at the center of a civil complaint by the Commodity Futures Trading Commission (CFTC). The move unsettled markets, with commentators well aware of crypto firms previously…