Day: April 22, 2023

Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition – Regulation Bitcoin News

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The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make itself the country’s sole regulator of virtual assets. The Battle to Control and Regulate Virtual Assets The Bank of Korea (BOK) is set to be granted its wish to investigate virtual assets after the country’s Financial Services Commission reportedly dropped…

Yuga Labs scores court battle win, Mandala Metaverse to drop on Polkadot and more…

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Bored Ape Yacht Club (BAYC) creators Yuga Labs has scored a key win in its long-running court battle with Ryder Ripps, the co-creator of copycat NFT project RR/BAYC. Yuga Labs initially filed a complaint against Ryder Ripps and co-founder Jeremy Cahen back in July 2022, alleging that the duo had engaged in trademark infringement, false advertising, and unfair competition, among other things. In a pre-trial summary judgment ruling on April 21, a U.S. district court in central California found that Ripps and Cahen had infringed Yuga Lab’s trademarks with their…

Do Kwon lawyers reportedly dismiss SEC’s securities fraud allegation

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The lawyers representing Terraform Labs co-founder Do Kwon reportedly argued in court against the allegations pressed by the US Securities and Exchange Commission (SEC). The federal agency had sued Kwon for allegedly defrauding US investors by illegally offering unregistered securities. On April 21, Do Kwon’s lawyers asked the judge to dismiss the SEC lawsuit claiming that the regulator’s acquisitions were unfounded. While requesting to dismiss the lawsuit, Kwon’s lawyers asserted that US law prohibits regulators “from using federal securities law to assert jurisdiction over the digital assets in this case,”…

BNB pumped before open campus (EDU) token sale announcement 

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied BNB’s prices soared amid Binance’s launch announcement for open campus (EDU) as its 31st project on their Binance launchpad.  Binance plans on using the launchpad subscription format for the open campus token sale.  The announcement behind BNB’s surge The BNB token started pumping earlier today at 7:30 AM UTC, rising from a low of $316 to a high of $331. This was a rapid increase of 4.8%. Pumped even before the announcement? How we battling the…

Financial Analyst Charles Nenner Warns About the End of the US Dollar and Its Consequences – Economics Bitcoin News

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Charles Nenner, a financial analyst that served as head of market timing for Goldman Sachs for more than a decade, has warned about the end of dollar hegemony and its consequences for the U.S. According to Nenner, the BRICS bloc and the influence of Saudi Arabia will end the dollar as a reserve currency, and this could cause a flight to safety. Charles Nenner Predicts End of USD Hegemony The U.S. dollar will be undermined as a reserve currency; this is what Charles Nenner, a financial cycles analyst, has predicted…

Over 30% TikTok videos on crypto investments are misleading: Research

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More than 1 out of 3 influencers on TikTok, the go-to social media platform for the young generation, have been found to post misleading videos about Bitcoin (BTC) and cryptocurrency investments in a recent study.  TikTok has been widely adopted as a video-based alternative to Google searches. However, some influencers have been found to share unvetted misinformation on the social media platform about crypto investments, often trying to convince unwary viewers to put their (or their parents) hard-earned money into loss-making cryptocurrencies. TikTok influencers use the hashtag ‘#cryptok’ while posting…

‘Rich Dad’ Robert Kiyosaki says BTC going to $100k

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Robert Kiyosaki, well known as the author of the best-selling book “Rich Dad Poor Dad,” has made a daring forecast that the bitcoin price will reach $100,000.  In a recent tweet, Kiyosaki expressed his appreciation for bitcoin and cited its independence from governments and financial organizations as one of the primary reasons for his positive perspective. Kiyosaki has a bullish prognosis for bitcoin because of its independence from these institutions. WHY I ❤️BITCOIN: Years ago I watched BC climb to…

Global Reserves Held in US Dollars Fell to Less Than 50% — Official States It Has Become a ‘Toxic’ Currency – Economics Bitcoin News

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The percentage of reserves held in U.S. dollars by central banks has fallen to less than half of the global total of reserves, according to a note from Eurizon SLJ Asset Management. The note states that the recent sanctions enacted by the U.S. against the Bank of Russia have eroded trust in the dollar as a reserve currency. Central Bank Dollar Reserves Hit 47% as Trust in the Currency Erodes Central banks are beginning to diversify their reserves away from the U.S. dollar. A note issued by Eurizon SLJ Asset…

SEC calls for enhanced scrutiny on crypto assets

The U.S. Securities and Exchange Commission (SEC) has urged financial professionals to exercise enhanced scrutiny when recommending high-risk or complex products, including cryptocurrencies or “crypto asset securities.” The SEC has called for financial professionals to adopt “enhanced scrutiny” when suggesting intricate or high-risk products, including cryptocurrencies or “crypto asset securities” as defined by the agency. In a recent announcement, the SEC stressed the importance of finance professionals possessing a comprehensive understanding of the risks tied to specific investment products before presenting them to clients. The SEC pointed out that certain…

White House Economist Warns China Wants to Weaken US Dollar’s Reserve Currency Status — Senator Says Biggest Threat Comes From Within – Economics Bitcoin News

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In a congressional hearing, White House economist Jared Bernstein says there’s “some evidence” that China wants the U.S. dollar to lose its status as the world’s reserve currency. However, U.S. Senator Bill Hagerty stressed that the biggest threat to the USD dominance comes from within. China Wants to See U.S. Dollar Losing World’s Reserve Currency Status, Says Bernstein White House economist Jared Bernstein answered some congressional questions about the U.S. dollar’s status as the world’s reserve currency before the Senate Banking Committee on Tuesday during a hearing on his nomination…