Day: July 12, 2023

What to expect from the first Coinbase-SEC hearing

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A pre-motion hearing set to take place on July 13 between the Securities and Exchange Commission (SEC) and crypto exchange Coinbase should provide a sense of the litigation tone and its potential impacts on the broader crypto industry, legal sources told Cointelegraph.  Previously scheduled for August, the conference is a typical request presented by any party seeking a ruling on a specific matter prior to the trial. In this case, the motion was requested by Coinbase in late June. The exchange wants Judge Katherine Polk Faila to dismiss the complaint filed…

Google Play Joins The Tokenization Bandwagon With Blockchain Gaming And NFT Recognition

According to a recent report by VentureBeat, Google Play has updated its policies to allow blockchain-based digital content, including non-fungible tokens (NFTs) and other tokenized digital assets, in its app store.  The move is in response to the growing interest in NFTs and their unique user experiences. Google has been working with Web3 game makers such as Mythical Games to bring blockchain gaming recognition to the masses. Google Play’s Blockchain And NFT Policy Update Previously, blockchain game companies had difficulty distributing their games, as they often relied on the open…

Coinbase Wallet expands functionality, releases instant messaging feature

Coinbase Wallet, a self-custody cryptocurrency wallet, has revealed a direct messaging feature for users to communicate with each other directly on the platform. Before this addition, the wallet already offered various functionalities such as buying and selling cryptocurrencies, bridging digital assets across different networks, collecting non-fungible tokens (NFTs), and interacting with blockchain-based websites and applications. Sending and receiving messages through Ethereum accounts The messaging functionality was introduced to address various challenges that users may have faced, including issues such as inadvertent crypto transfers to incorrect addresses, false claims of ownership…

US senators reintroduce crypto bill aimed at comprehensive regulation

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United States Sens. Cynthia Lummis and Kirsten Gillibrand will reintroduce legislation aimed at establishing a comprehensive regulatory framework for digital assets. The U.S. lawmakers said they would reintroduce the Responsible Financial Innovation Act to the Senate on July 12 after roughly a year of being tabled in the previous session of Congress. The bipartisan piece of legislation — Lummis is a member of the Republican Party, and Gillibrand is a Democrat — was aimed at clarifying the roles of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission…

US government moves nearly 10K Bitcoin worth over $300M related to Silk Road seizure

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A cryptocurrency wallet associated with the United States Department of Justice (DOJ) moved approximately 9,825.25 Bitcoin worth around $299 million in a series of transactions on July 12.  It’s unclear at this time whether the transactions, which appear to have ultimately propagated to at least 101 new wallets, were sent to exchange addresses for sale or remain in the custody of the Justice Department. DOJ Bitcoin transactions. Source: Screenshot via Blockchain.com Initially, approximately 9,825 of the Bitcoin (BTC) associated with the Silk Road seizure moved in a pair of transactions sent…

‘AI helps traders utilize more intuitive strategies,’ says Exchange

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On July 11, cryptocurrency exchange Bitget launched an AI-powered feature for its Grid Trading strategies, or the use of trading algorithms to automate transactions for users. In an interview with Cointelegraph, Bitget developers stated: “Compared with manually creating strategies by filling in obscure and complex strategy parameters, AI strategies can help users choose and create strategies more intuitively through a simple number (strategy rate of return) and a simple graph (yield curve), eliminating the need to fill in complex variables.” In its AI Grid Trading Bot, users are only required…

Crypto Exchange Digitex Ordered to Pay $16M Following CFTC Charges

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A US court has ordered Adam Todd to pay approximately $16 million for operating an unregistered crypto exchange Digitex Futures. The amount includes $11.7 million in civil monetary penalty and $3.9 million as the return of illicit profit. Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! Judge Roy K. Altman of the US District Court for the Southern District of Florida delivered the judgement on July 5, the Commodity Futures Trading Commission (CFTC) announced…

BNB’s soaring futures open interest and regulatory woes weigh on the altcoin’s price

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The price of BNB token has experienced a 24.5% decline over the past 90 days, despite a 7% gain between July 10 and July 11. BNB has performed worse than the overall altcoin market, indicating that the underlying cause for the bearish momentum persists. It is highly likely that the correction in BNB’s price can be attributed to the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance exchange and its CEO Changpeng “CZ” Zhao on June 5, as the decoupling coincides with that event. BNB/USDT (blue)…

It’s Time for a European Stablecoin

For a long time, this might have been a hurdle compared to other, more lax, regulatory environments. However, recent crypto crackdowns in the U.S. have shown that, while MiCA might be more strict on the issuance of stablecoins, it has the merit of being clear and providing stability. Source

$300 Million In Silk Road Bitcoins On The Move After CPI Data

Two unconfirmed transactions show that 9,800 Bitcoin linked to dark web marketplace Silk Road was transferred on Wednesday. 506 BTC was sent to a change address and 0.01 BTC was moved to the wallet 361yog in the first transaction, per reports. In the second transaction, the move transferred 8,200 BTC to the same 361yog wallet and 1,118 BTC to a separate change wallet. The transactions were discovered shortly after the U.S. CPI data was released but it remains unclear if the government is behind the BTC transfers. Crypto addresses with…