The bill, one of several introduced in recent years that aim to create comprehensive rules for digital assets, comes at a time when a perceived lack of regulatory clarity and a wave of aggressive enforcement actions are spurring established crypto businesses to consider leaving the U.S., and deterring startups from forming there. Source
Further, every massive gain comes at the expense of most people taking large losses. This is referred to as “bag holding,” where traders miss the optimal window to sell and are left holding a portfolio of devalued or, in most cases, worthless coins. This is where the term “PvP,” or player versus player, within the crypto community comes from. Source
Members of Crypto Twitter have quickly identified and warned others against a scam being pushed by Uniswap founder Hayden Adams’ compromised account. The “Web3 Security Alerts” channel on Telegram notified followers that Adams’ Twitter account had been compromised on July 20. The account from the Uniswap founder and CEO released a tweet to its more than 254,000 followers falsely claiming that the platform’s Permit2 contract had been “affected by an unknown exploit” and users’ tokens were at risk, encouraging them to click on a malicious link. July 20 tweet sent…
Tech stocks such as Tesla and Netflix, which crypto prices tend to correlate with, sold off during the day as investors shied away from risk assets. Original
Britain’s Financial Services Minister Andrew Griffith stated on Thursday that classifying crypto assets as a form of gambling would create discord with global and European Union regulators. This statement was a response to the Parliament’s Treasury Select Committee’s report in May, which recommended regulating “unbacked” cryptocurrencies like bitcoin and ether as gambling due to the risks they pose to consumers. UK regulators take a balanced approach Amid concerns raised by lawmakers, British regulators have warned investors about the potential risks associated with crypto investments, cautioning that consumers might mistakenly perceive the sector…
Coinbase Borrow, a program that allowed customers to receive fiat loans of up to $1 million against as much as 30% of their bitcoin (BTC) holdings, will be shutting down over the coming months as the company focuses its resources on products that “customers care about most,” a spokesperson told CoinDesk Thursday. Source
OpenAI announced the beta launch of “custom instructions” for ChatGPT on July 20. The much-requested feature will allow users to create a preface for their prompts featuring instructions for the artificial intelligence (AI) chatbot to consider before responding to queries. According to a company blog post, the feature works across prompts and sessions and includes support for plugins. As is typically the case, OpenAI’s launching the new feature in beta, citing the increased potential for unexpected outputs: “Especially during the beta period, ChatGPT won’t always interpret custom instructions perfectly —…
A weekly digest of articles, reports and analyses about tokenized RWAs, the fast-growing financial instruments that merge traditional finance to the blockchain. Source
The UK’s Financial Conduct Authority (FCA) will introduce a Digital Sandbox to support technology firms during their early product development stages. The initiative will be permanently available from August 1 and will support emerging technologies such as blockchain in the financial sector. FCA introduces permanent digital sandbox The Digital Sandbox, serving as a testing ground, provides crucial support to firms in their initial product development stages, facilitating experimentation through proof of concepts. Besides innovators, data providers are now invited to seek listing on the permanent sandbox, granting them access to…
Kraken’s chief legal officer Marco Santori says crypto assets on his exchange undergo a multi-pronged compliance, cybersecurity and legal review process before being listed for trading. Santori explains in a new interview with Real Vision Crypto that Kraken weeds through thousands of crypto assets and chooses to support “only a few” tokens. “We do that via a few different methods. One is, of course, the business case. Do we believe there’s actual interest from our users in this asset? Once that has been established — and that, by far, is…