Month: April 2023

Hong Kong security regulator to issue crypto license guidelines in May

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The Hong Kong Securities Futures Commission (SFC) is reportedly set to release cryptocurrency exchange licensing guidelines next month. The plans were reported by Bloomberg on April 27, which cited comments from the SFC’s chief executive Julia Leung on Thursday. The incoming guidelines will provide support to crypto trading platforms that will be able to offer trading services to retail investors on June 1. Leung said the consultation process on the licensing regime received over 150 responses from interested parties, according to Bloomberg. Anti-Money Laundering (AML) and Know Your Client (KYC)…

Cameron Winklevoss claims regulatory double standards over banking crisis

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Cameron Winklevoss, the co-founder, and CEO of New York-headquartered crypto exchange Gemini, has accused U.S. regulators of perpetrating double standards in handling the First Republic Bank crisis.  According to Winkelvoss, if First Republic had been a “crypto bank” it would have been “assassinated weeks ago.” It is important to note that First Republic initially began experiencing “structural challenges” with its balance sheet at the time that Silicon Valley Investment Bank and Silvergate Bank were being closed down by federal regulators or winding down operations.  First Republic Bank is down another…

Circle CEO warns of active and accelerating de-dollarization

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The United States must implement stablecoin legislation and digitize the U.S. dollar (USD) to mitigate the “very active de-dollarization taking place” around the world right now, says Jeremy Allaire, the chief executive of stablecoin issuer Circle. Allaire’s comments at the Consensus 2023 conference on Wednesday, April 25, were made in light of the recent U.S. banking crisis. The Circle — the stablecoin issuer behind USD Coin (USDC) — CEO called on Congress and the Federal Reserve to take action otherwise alternative currencies and payment systems will continue to eat into…

One crypto wallet launched 114 dodgy memecoins in two months

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Crypto scammers have been ramping up the launch of spurious memecoins over the past two months, according to crypto sleuths.  According to research from blockchain sleuths ZachXBT, one address, in particular, has allegedly launched “114 memecoin scams” in the past 45 days alone. In an April 26 Twitter thread, ZachXBT tracked the movements of the wallet address: 0x739c58807B99Cb274f6FD96B10194202b8EEfB47, noting that “each time stolen funds from the scam are sent to the exact same deposit address.” “I suspect there are more too. These are just ones sent to that deposit address…

Brazil’s President Lula Voices Support for BRICS Currency – Economics Bitcoin News

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Brazil’s president, Luiz Inacio Lula da Silva, has expressed support for the creation of a BRICS currency. His statement of support comes as the BRICS bloc is gaining global influence, with 19 countries seeking to join the group. Brazilian President Lula Supports BRICS Currency Creation Brazilian President Luiz Inacio Lula da Silva reiterated Wednesday that he supported creating a currency for trading between BRICS countries, Reuters reported. The BRICS nations comprise Brazil, Russia, India, China, and South Africa. In a speech during a trip to Spain, he said without providing…

NY investment bank says ‘crypto winter is over,’ bullish outlook for Coinbase

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Analysts from the prominent New York-based investment bank H.C. Wainwright have declared an end to “crypto winter.” The bank has initiated its coverage of U.S. crypto exchange Coinbase with a “buy” rating, saying that the company stands to benefit from the growing cryptocurrency industry around the globe. In an April 26 note sent out to investors, Wainwright analyst Mike Colonnese observed that overall crypto asset prices have rallied 45% year-to-date (YTD) supported by a 67% increase in the price of Bitcoin (BTC). According to the analyst, markets “have likely now…

US House Financial Committee Republicans look for records to show crypto debanking

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Three Republican members of the United States House of Representatives Financial Services Committee have sent letters to the heads of U.S. banking regulatory agencies seeking information on possible coordinated efforts taken against digital asset firms. The letters follow up on ones sent to the same addresses by the lawmakers earlier. The letters, dated April 25, were addressed to Federal Deposit Insurance Corporation (FDIC) chair Martin J. Gruenberg, Federal Reserve System chair Jerome Powell, and Office of the Comptroller of the Currency (OCC) acting comptroller Michael J. Hsu. The letters contained…