Month: June 2023

The SEC is targeting Coinbase, Binance as proxies in its war on crypto

boss

Imagine your daily commute to work, uninterrupted by traffic lights or stop signs, allowing you to sail smoothly. Suddenly, a new red stop sign disrupts your route, turning a main intersection into a four-way stop overnight. That evening, a letter from local law enforcement shocks you with a hefty retroactive fine for every time you passed the spot where the new sign stands today. Absurd as it seems, this analogy encapsulates the United States Securities and Exchange Commission’s approach in its lawsuits against Coinbase and Binance. The SEC throws a…

North Carolina house approves bill to study potentially holding bitcoin

boss

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The lower house of North Carolina’s General Assembly has approved a bill that proposes the state’s Department of State Treasurer conducts a study to assess the feasibility and potential advantages of incorporating bitcoin into the state’s holdings. The study aims to explore the potential impact of cryptocurrency and gold investments on North Carolina’s funds if a portion were allocated to these assets. A study for secure storage Titled the “State Precious Metals Depository Study,” the recently…

Apparently It’s Very Difficult to Custody Crypto

According to the FID filing, Prime Trust is unable to access “legacy wallets.” Before 2020, Prime Trust managed its customer’s crypto in its own wallets. In 2020, Prime Trust migrated customer assets to Fireblocks, an institutional custody and security firm, to have Fireblocks manage crypto assets on behalf of Prime Trust’s customers. Source

Bitcoin traders say BTC price will soon break beyond $31K yearly highs

boss

Bitcoin (BTC) aborted a fresh attempt to reach $31,000 on June 29 while traders waited for bulls to succeed. BTC/USD 1-hour chart. Source: TradingView BTC price “primed to launch” Data from Cointelegraph Markets Pro and TradingView showed BTC price action refusing to leave its short-timeframe trading range. Now caught between and $30,000 and $31,000, BTC/USD lacked impetus to continue the prior week’s uptrend or reverse downward. For market participants, however, there was increasingly reason to believe that flipping higher resistance levels to support would come next. It is very likely…

Candy Digital and Palm NFT Studio Announce Merger

“We’re thrilled to bring together two teams that have been market leaders in innovation and fan engagement,” Lawin told CoinDesk. “Palm NFT Studio shares Candy’s excitement about the role that digital assets will play as the connective tissue between fans, brands and content in Web3, and we’re looking forward to bringing world-class brands like Warner Bros. Discovery and DC to the Candy platform and community.” Source

9 key steps for ensuring compliance with incoming MiCA regulations

boss

In May 2023, the European Union signed its landmark Markets in Crypto-Assets legislation into law. Crypto businesses operating in the EU now have a fixed timeline to comply with MiCA’s wide-ranging guidance and regulations, which address everything from defining a crypto asset to establishing reserve requirements for stablecoins. While MiCA is impacting crypto at a challenging time, many insiders welcome this groundbreaking legislation and expect it to lead to a stronger, more vibrant industry. Below, nine members of Cointelegraph Innovation Circle share their insights to help crypto companies ensure they’re…

State of Crypto: Policy and Regulation by CoinDesk

State of Crypto: Policy and Regulation is a one-day event uniting key policymakers, regulators and government officials with legal, policy and compliance executives representing the largest and most influential TradFi and DeFi leaders in asset management and financial services. This event is for GCs, CCOs, CLOs, COOs, heads of policy and government affairs who are evaluating or actively investing in digital assets. The industry will meet to set industry standards and align on practical short-term and long-term objectives through pointed conversations with the best legal minds and Washington D.C.’s…

UK Crypto, Stablecoin Rules Receive Royal Assent, Passing Into Law

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CryptoX employees, including editorial employees, may receive exposure to DCG equity…