Day: July 30, 2023

Apple’s App Store Policies Probed: U.S. Lawmakers Investigate Impact on Blockchain and NFTs

U.S. Representatives Gus Bilirakis and Jan Schakowsky have penned a formal letter to Apple CEO Tim Cook, raising concerns over the tech giant’s App Store guidelines and their potential impact on emerging technologies like blockchain and nonfungible tokens (NFTs). The lawmakers are investigating whether Apple’s stringent guidelines might inadvertently stifle innovation and hinder the growth of cutting-edge technologies. The probe highlights a growing concern that these policies may limit American technological leadership in the rapidly evolving fields of blockchain and NFTs. The letter to Apple’s CEO cites specific instances where…

Dogecoin Up 13% After Elon Musk Cryptic Tweet Sparks Frenzy

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This time around, Elon Musk, the CEO of SpaceX and the world’s largest manufacturer of electric vehicles, Tesla, is creating a flurry of excitement around cryptocurrencies, maybe with a particular focus on Dogecoin, the well-known parody cryptocurrency. The crypto community has taken note of Musk’s recent acts since they continue to demonstrate his influence in altering the market dynamics of digital currency. The billionaire Musk, who is also the owner of the X app (formerly known as Twitter), posted on Sunday that “something special is coming soon.” Elon Musk Tweet…

Pro-XRP lawyer claims SEC prioritizes corporate capitalism over investors

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Pro-XRP lawyer, John Deaton, has said that the actions taken by the United States Securities and Exchange Commission (SEC) against the crypto industry are driven by a broader motive to safeguard corporate capitalism rather than prioritizing the protection of investors. Deaton highlighted what he views as an assault on cryptocurrencies, particularly in relation to the SEC’s actions targeting Coinbase and Ripple. In his remarks, he touched on several aspects, such as the accredited investor rules, the SEC’s approach to regulating cryptocurrencies and its position concerning retail investors in the Ripple…

DOJ seeks SBF’s bail revocation over tampering, diary leak allegations

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In a letter to Judge Lewis Kaplan, the United States Department of Justice (DOJ) sought the revocation of Sam Bankman-Fried’s (SBF) bail, accusing him of attempting to tamper with witnesses, including leaking his ex-girlfriend’s diary entries to the New York Times (NYT). These actions, connected to the FTX case, have raised concerns about witness interference. In the letter dated July 28, the DOJ noted that SBF was released on a bond on December 22, 2022, but later requested multiple bail modifications. The letter revealed that on January 15, 2023, the…

Indian Supreme Court Demands Government Action on Cryptocurrency Regulation

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The Indian Supreme Court has ordered the Union government to explain its position on creating a federal body to handle criminal cases involving cryptocurrency. The court voiced its displeasure with the current crypto regulatory landscape, highlighting the necessity for a national specialised body to handle complicated enquiries in the public interest. The existing condition has been harshly criticised by Justices Surya Kant and Dipankar Datta. They noted that huge sums of money are being stolen from the nation via crypto scams, and that without a legal structure in place, it…

Crypto community reacts to Barbie star saying Bitcoin talk exudes Ken energy

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Australian actress Margot Robbie, who is playing the lead in the new Barbie movie, has caused quite a stir within the crypto community after stating that simply talking about Bitcoin (BTC) gives off Ken vibes. In the last 24 hours, the crypto community on Twitter, including Microstrategy’s Michael Saylor and social media influencer Layah Heilpern, showed a mixed response to Robbie’s statement about Bitcoin that she made in an interview with Fandango on June 22. #Bitcoin is Big Ken Energy. pic.twitter.com/ExFOGXsuJ9 — Michael Saylor⚡️ (@saylor) July 28, 2023 Robbie revealed…

Blockchain will save financial institutions $10B by 2030: Ripple

Blockchain has the potential to save financial institutions approximately $10 billion in cross-border payment costs by the year 2030, according to a recent report. Published by digital payment network Ripple, in collaboration with the US Faster Payments Council (FPC) on July 29, the report surveyed 300 payment leaders across the world, from various sectors, such as fintech, banking, and retail, across 45 different countries. Results show that global payments leaders are dissatisfied with legacy rails for cross-border payments. Learn why 97% believe #blockchain and #crypto will transform the way money…