Many consider the power to selectively reveal or hide oneself to the world a human right, but it is often abused by criminals, leading to calls for increased government surveillance, which in turn encroaches on the privacy of law-abiding citizens who make up the vast majority of crypto users. Source
As the digital asset market continues to evolve, the use of cryptocurrency ATMs grows with it. Over the past decade, nearly 40,000 cryptocurrency ATMs have popped up worldwide. Bitcoin (BTC) ATM service provider, Bitcoin of America, had carved out a slice of the market but recently closed shop in the United States State of Connecticut due to a lack of proper licensing. The Connecticut Department of Banking (DoB) issued a cease and desist order against the company, accusing it of operating unlicensed crypto ATMs in the state. But the allegations…
The new governance requires at least 75,000 votes for the proposal to be either accepted or rejected. Sweat Economy, the label behind the Sweatcoin and Sweat Wallet apps, plans to roll out a new governance vote later today in the wallet app. By doing this, the Sweat community will be saddled with the responsibility of deciding what happens to the 2 billion Sweat tokens lying idle in inactive users’ accounts. Token holders can now participate in the decision-making process by the principle of one man, one vote, thereby democratizing the…
FTX’s collapse reignites the self-custody debate with Consensus 2023 attendees in an excerpt from CoinDesk’s first-ever Consensus @ Consensus Report. Source
US court has directed the SEC to address Coinbase’s rulemaking petition within a week, as the crypto exchange seeks regulatory clarity for digital assets amidst an ongoing lawsuit and heightened enforcement actions against market participants. The US Court of Appeals for the Third Circuit has issued a significant order that compels the US Securities and Exchange Commission (SEC) to clarify its stance on a rulemaking petition submitted by leading cryptocurrency exchange Coinbase. Coinbase had earlier filed a challenge under the administrative procedure act, seeking to prompt the SEC to respond…
HSBC CEO has doused fears that Silicon Valley Bank UK will suspend or not adequately focus plans on helping startups. The CEO of HSBC UK has said that Silicon Valley Bank UK will continue its regular business of serving startups regardless of new ownership. Ian Stuart noted that Silicon Valley Bank will maintain its processes and business without disruption. At the Money 20/20 fintech conference in Amsterdam, Stuart assured CNBC’s Arjun Kharpal of protecting Silicon Valley Bank. He said: “We are going to keep it ringfenced within our own ringfenced…
Bitcoin’s strong bounce back despite the SEC lawsuits has made analysts optimist about the beginning of the next bull run. After facing strong selling pressure earlier this week, the world’s largest cryptocurrency Bitcoin (BTC) has given a strong bounceback today moving closer to $27,000. As of press time, BTC is trading 3.2% up at a price of $26,603 and a market cap of $515 billion. The recent bounce back has created optimism among Bitcoin enthusiasts with analysts turning bullish on the crypto once again. Former BitMEX CEO Arthur Hayes recently…
Many crypto exchanges including Binance believe that the SEC’s requested relief will do more harm to investors than good. The United States arm of the Binance exchange, Binance.US has responded to the lawsuit filed against it by the Securities and Exchange Commission (SEC). According to Binance.US, the lawsuit is without any basis and therefore, the exchange is ready to go to court to refute all of the unwarranted accusations. In light of facts, the law at the time, as well as the SEC’s precedents, the exchange believes that the regulator’s…
Bitcoin (BTC) quickly bounced back after tumbling to a three-month low of less than $25,500 on Tuesday following news that Coinbase (COIN), had been sued by the U.S. Securities and Commission Exchange (SEC) on allegations of violating federal securities law. This followed a similar suit against Binance on Monday. Already on its heels following the Binance suit, bitcoin sank further on the Coinbase action before recovering throughout the day to again top $27,000. It’s retreated a bit overnight Wednesday to the current $26,800, still up 4% over the last 24…
There are ongoing efforts to classify Ethereum. As of now, a final decision is yet to be reached regarding whether it should be considered a security or not. Considering the arguments, predicting the final outcome is challenging. With the recent noise about cryptocurrency regulation and events such as crypto exchanges being sued for offering unregistered securities, there have been varying views from experts and high-profile individuals about the state of some specific cryptocurrencies. One of them is a recent comment by Jack Dorsey, the former Twitter CEO, arguing that Ethereum…