Month: June 2023

King Charles approves UK legislation for crypto oversight

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied King Charles has given his official sanction to the UK’s Financial Services and Markets Bill, setting the stage for increased supervision of cryptocurrencies and stablecoins. British legislation facilitating oversight of cryptocurrency and stablecoins received official approval from King Charles. The sanction, which is seen as a formalized procedure following a consensus among legislators, now effectively converts the Financial Services and Markets Bill into an Act. This key action incorporates provisions to bring cryptocurrencies and stablecoins under…

Coinbase layer-2 network Base closes in on mainnet launch

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Base, a new layer 2 application-focused protocol by Coinbase has just one criteria left to fulfil  before being ready for mainnet launch. On June 29, the team said the Optimism-powered, Ethereum-secured network has been subject to six months of rigorous security audits — both internally and externally — its second-last criteria required for launch. “With the completion of these audits, we’ve now fulfilled ⅘ of our criteria for mainnet launch,” Base said, adding that they feel confident after not finding any critical code bugs: “Completing these in-depth security workstreams without…

Worldcoin integrates with Okta’s Auth0, initiates World ID registrations in Germany

Sam Altman’s blockchain project, Worldcoin, has announced the integration of its “Sign in with Worldcoin” feature with Okta’s Auth0 and the commencement of World ID registrations in Germany. Worldcoin, helmed by Sam Altman, has announced the commencement of registrations for its World ID in Germany and has integrated its “Sign in with Worldcoin” feature into Auth0, Okta’s leading global authentication and authorization platform. The integration with Auth0 marks Worldcoin’s most comprehensive rollout of the new feature. Similar to widely used social single sign-ons, the Sign in with Worldcoin offers users…

Crypto offers Africans a ‘lifeline’ from inflation and corruption, say execs

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While many investors in the West may look to crypto to speculate the next biggest trend, blockchain technology is actually solving “real-world problems” in Africa such as hyperinflation and “corruption,” executives told Cointelegraph. Speaking to Cointelegraph, Chris Maurice, founder and CEO of Yellow Card — Africa’s largest cryptocurrency exchange — said crypto in Africa “is growing at the speed of light” because it allows many Africans to escape from the traditional financial system’s failures and transact more freely. “Crypto solves real-world problems with banking and currencies on the continent, and…

U.S. House committee chairs, Blockchain Association turn up heat on SEC head Gensler

Three committee chairs in the United States House of Representatives have sent a letter to U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler demanding a more satisfactory response to their Nov. 1 letter regarding the SEC chairman’s and the agency’s compliance with recordkeeping requirements.  Judiciary Committee Chair Jim Jordan, Oversight Committee Chair James Comer and Financial Services Committee Chair Patrick McHenry stated that the response they received from Gensler to their inquiry did not address direct requests made in their letter. Specifically, they asked for certification that the SEC…

Fidelity renews push for spot Wise Origin BTC Trust, making it 7th applicant this year

Asset manager Fidelity Investments has filed an application for a spot Bitcoin exchange-traded fund (ETF), according to a filing by Cboe BZX Exchange with the United States Securities and Exchange Commission (SEC) dated June 19.  Fidelity’s application follows BlackRock’s spot Bitcoin ETF application on June 15 and those of WisdomTree, Invesco and Valkyrie in the following days. According to Bloomberg, seven applications for a spot Bitcoin (BTC) ETF have been filed this year. Like WisdomTree and Invesco, Fidelity was making a second try at a spot BTC ETF. Similar to other spot…

“Sam Bankman-Fried really hurt the industry” — Anthony Scaramucci

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During a panel at Collision 2023 in Toronto, Anthony Scaramucci, founder of Skybridge Capital and former White House communications director, stated that disgraced crypto executive Sam Bankman-Fried “really hurt the industry in the United States from a regulatory perspective.” Scaramucci continued: “He embarrassed the politicians; he gave a lot of money to them. They spent a lot of time with him, Gary Gensler spent a lot of time with him. And then they had this huge situation that happened. And that was very embarrassing. And so now the pendulum has swung…

Bitcoin BTC Price Hovers Over $30.3K Despite Renewed Inflation Worries

Bitcoin, the largest cryptocurrency by market capitalization, was recently trading at $30,374, a 1% gain from Wednesday, same time. BTC has been on a roller coaster ride the past couple of days, albeit the kiddie version, rising above $31,000 briefly on Tuesday after a news story that Fidelity Investments would join BlackRock in the queue of financial services giants applying for spot bitcoin ETFs, but sinking below $30,000 on Wednesday as investors paused to consider the timing of an SEC approval and inflationary pressures. Source