Day: June 27, 2023

Japanese and Singaporean regulators join forces on crypto pilot project

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On June 26, Japan’s financial regulator, the Financial Services Authority (FSA), announced a partnership with the Monetary Authority of Singapore (MAS) for the joint regulation and pilot testing of cryptocurrency projects in accordance with the latter’s “Project Guardian” initiative. The participation will be limited to observer capacity for the FSA in its current phase. Regulators wrote:  “The project aims to test the feasibility of applications of digital technologies such as asset tokenization through pilot experimentations, while managing risks to financial stability and integrity. Current industry pilots include fixed income, foreign…

Judge Rejects FTX Founder Sam Bankman-Fried’s Motions to Dismiss Criminal Charges

CryptoX – Cryptocurrency Analysis and News Portal Bankman-Fried, who faces wire fraud, bank fraud, operating an unlicensed money transmitter, bribery and campaign finance charges, filed to dismiss the bulk of these charges last month across seven pretrial motions. After a court hearing earlier this month, Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York denied the last three of those motions. Source The post Judge Rejects FTX Founder Sam Bankman-Fried’s Motions to Dismiss Criminal Charges appeared first on CryptoX. CryptoX Portal

Trader weighs in on possible Bitcoin price drivers for remainder of 2023

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Cointelegraph’s Crypto Trading Secrets podcast has published its 10th episode, featuring an interview with trader Michaël van de Poppe, who caters to an audience of more than 650,000 on Twitter under the handle @CryptoMichNL. During the June 14 interview recording, host Benjamin Pirus discussed several topics with van de Poppe, such as his opinions on what might drive Bitcoin’s (BTC) price over the rest of 2023. His answer, in part, references United States regulations. “I think if there’s clarity on the framework that’s being established in the U.S. in terms…

CITD to Issue HK$100 Million Bonds Utilizing Blockchain

China Information Technology Development Limited (CITD) (HKEX: 8178), a leading technology company specializing in AI and cloud technologies, has announced its plan to issue HK$100 million worth of Bonds using distributed ledger technology (DLT). The proposed issuance aims to revolutionize the bond market by leveraging blockchain and smart contract technologies. The Bonds, with a maturity date set for June 27, 2053, will be documented using the Digital Ownership Token (DOT) standard and implemented through a binding Ricardian Contract. By incorporating all bond documents and smart contract codes into the Bond…

Gary Gensler is hurting the little guys for Wall Street

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Even the most stalwart crypto supporters could see why the Securities and Exchange Commission might target the crypto industry for some enforcement. Events of the past year — from the failure of Three Arrows Capital to the fraud at FTX — were bound to bring some scrutiny, and the industry has always been too hospitable to blatant hucksters.  But the recent spate of enforcement actions by the SEC and U.S. agencies do not meet the standard of protection. Instead, a close review of everything from the banking crackdown earlier this year to…

3AC liquidators look to recoup $1.3B from founders

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Teneo, the liquidator behind bankrupt hedge fund Three Arrows Capital (3AC), is reportedly seeking to recover roughly $1.3 billion in funds from 3AC founders Su Zhu and Kyle Davies. According to a June 27 Bloomberg report, the liquidator claimed Davies and Zhu incurred the $1.3 billion of debt when 3AC was already insolvent, adding to creditors’ losses. 3AC reportedly owed creditors $3.5 billion, making the founders’ potential liability more than a third of the total debt. A Teneo spokesperson told Cointelegraph that the goal of seeking $1.3 billion from the 3AC…