Month: July 2023

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…

US crypto bills on the move, Worldcoin launches, Russia’s CBDC…

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Top Stories This Week Crypto bills pass congressional committee in ‘huge win’ for US crypto A key United States House panel has approved a pair of bills that could finally deliver some regulatory clarity to crypto firms in the country. On July 26, lawmakers voted in favor of the Financial Innovation and Technology for the 21st Century Act, which establishes rules for crypto firms on when to register with either the Commodity Futures Trading Commission or the Securities and Exchange Commission. The panel also approved the Blockchain Regulatory Certainty Act,…

Shiba Inu millionaires accumulating POMD in Pomerdoge presale

Shiba Inu is a popular meme coin with deep liquidity. Early investors who picked out the project’s potential have seen significant benefits.  Meanwhile, investors are showing interest in the presale phase of Pomerdoge (POMD) as they seek to capitalize on potential price surges. The article delves into Pomerdoge’s increasing popularity and its appeal to investors seeking potential growth. Click here to find out more about the Pomerdoge presale Shiba Inu is falling Shiba Inu prices are down 26.9% over the past year, allowing most holders and investors to exit. This…

D.C. Circuit reverses SEC ruling on SPIKES futures, calls it “arbitrary and capricious”

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The U.S. Securities and Exchange Commission (SEC) suffered another setback on July 28 as the D.C. Circuit overturned a ruling by the regulator ordering that SPIKES Index securities should be treated as ‘futures’ rather than as ‘securities futures’. The judge panel called the SEC order “arbitrary and capricious.” The decision relates to an order from 2020, in which the SEC exempted SPIKES Index — a stock volatility index — from the definition of security futures, thus eliminating heavy taxes and other regulatory requirements attached to the term ‘security’. The relief,…

JBA proposes tax reforms to empower Japan’s crypto ecosystem

The Japan Blockchain Association (JBA) has reportedly requested Prime Minister Fumio Kishida to revise the nation’s tax system concerning crypto assets. The JBA has put forward three main changes to promote the expansion of the crypto industry and make it more accessible to individuals.  Top of the list, the association recommends doing away with year-end unrealized gains taxation on tokens issued by third parties.  The lobby group also wants the JBA to bring in separate taxation for individual crypto asset transactions and set a consistent % tax rate of 20%.  JBA further…

Court Filing Suggests FTX’s $2 Billion Lawsuit Against Genesis Is Coming To An End

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The legal tussle between bankrupt crypto exchange FTX and crypto lender Genesis seems to be coming to a resolution, a recent court filing reveals. According to the letter filed yesterday at the US bankruptcy court for the Southern District of New York, both firms – who happened to have filed for bankruptcy – have agreed to settle their ongoing billion-dollar dispute.  How The Feud Began FTX filed a motion in May this year to recover its funds from Genesis and “non-debtor affiliates” so the company could pay back its creditors.…

Price analysis 7/29: BTC, ETH, XRP, BNB, ADA, SOL, DOGE, MATIC, LTC, DOT

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Bitcoin’s price action remains lackluster, but select altcoins are showing signs of breaking out of their respective resistance levels. The 25 basis point rate hike by the Federal Reserve on July 26 and the subsequent commentary by Fed Chair Jerome Powell failed to catapult Bitcoin (BTC) out of its range. This suggests that the event did not have any surprises and the outcome was already priced in by the markets. The crypto markets continued their lackluster performance on July 28 after the United States Personal Consumption Expenditures (PCE) Index print…

GitHub, Hugging Face, urge EU to relax open-source AI rules

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An open letter from GitHub, Hugging Face, Creative Commons and other tech firms are calling the European Union to ease upcoming rules for open-source artificial intelligence models. The letter urges policymakers to review some of the provisions of the EU’s Artificial Intelligence Act, claiming that regulating upstream open-source projects as if they are commercial products or deployed AI systems would hinder open source AI development. “This would be incompatible with open source development practices and counter to the needs of individual developers and non-profit research organizations,” noted GitHub in a…