Month: July 2023

US regulatory clarity has begun in court after Ripple win: CFTC commissioner

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Caroline Pham, the Commodities Futures Trading Commission (CFTC) Commissioner, believes the path to United States crypto regulatory clarity has been laid out following Ripple’s partial victory. Speaking on Bloomberg TV on July 17, Commissioner Pham said recent big court decisions regarding the classification of crypto assets will eventually lead to regulatory clarity.  “You know, last year I said that we were going to see regulatory clarity first in the courts around the definition of a security, and I think we’ve seen that with some very big court opinions that have…

SEC’s Gary Gensler believes AI can strengthen its enforcement regime

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Gary Gensler, the chair of the United States Securities and Exchange Commission, believes staff at its agency could benefit from greater use of artificial intelligence. During a July 17 speech before the National Press Club, where he later broke his silence about the recent Ripple court ruling, Gensler listed several potential use cases of AI that could assist the regulator in its role as securities watchdog. “We at the SEC also could benefit from staff making greater use of AI in their market surveillance, disclosure review, exams, enforcement, and economic analysis,” he…

Apple’s headset could redefine what being in the metaverse means

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The release of Apple’s new mixed-reality headset, Vision Pro, could cause a seismic shift in how users will experience the metaverse, with developers potentially moving away from the absolute isolation of virtual reality. Unlike today’s virtual reality headsets, which center on full immersion, Apple’s Vision Pro — unveiled on June 5 — can also superimpose applications onto the real world, letting users “interact with digital content in a way that feels like it is physically present in their space.” Apple’s AR headset revealed – Apple Vision Pro pic.twitter.com/UpNM7cH5yL — Wario64…

Nearly one-third of bitcoin’s circulating supply possibly lost: report

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Recent data from blockchain analytics company IntoTheBlock indicates that approximately 29% of the total Bitcoin supply, which has remained stagnant for over five years, might be lost forever. Fresh data unveiled by the blockchain analytics firm, IntoTheBlock, reveals that close to 29% of Bitcoin’s total circulating supply might be lost forever, showing no signs of movement for over five years. This highlights an inherent attribute of Bitcoin (BTC) – its scarcity – as only 21 million…

FSB finally publishes global regulatory framework for crypto activities

The Financial Stability Board (FSB) has completed its global regulatory framework for crypto asset activities, aiming to enhance the consistency and comprehensiveness of regulatory and supervisory practices on an international scale.  Built on the principle of ‘same activity, same risk, same regulation,’ this framework establishes a solid foundation for enforcing consistent and comprehensive regulations for crypto asset activities and stablecoins, taking into account the associated risks and fostering responsible developments. Avoiding conflicts of interest On July 17, the Financial Stability Board (FSB), the world’s most known global financial watchdog group,…

Crypto memes can be considered financial promotions, says UK watchdog

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Crypto firms and influencers may need to start slapping disclaimers on crypto memes to stay compliant with advertising laws in the United Kingdom, according to a new proposed guidance from the country’s financial regulator. On July 17, the Financial Conduct Authority (FCA) released a proposed guidance on social media financial promotions which targets promotional memes and financial influencers — “finfluencers.” Too many people across the UK are being shown financial promotions from unsuitable sources. We’ll be ramping up our work to stamp out illegal financial promotions, particularly those found on…

Binance launches Arkham token sale, launch price to be 10X higher

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On July 17, the world’s largest crypto exchange by trading volume, Binance, announced the launch of the arkham (ARKM) token sale on its launchpad, making it the 35th project on the platform. However, ARKM’s launch will be different since there will be mechanisms to “protect investors from volatility.” At the same time, Binance said the launch of the ARKM will be set at $0.50 — 10 times the public sale price — for the first five…

Chainlink launches cross-chain protocol bridging blockchain to TradFi

The development firm behind the Chainlink protocol and its native LINK token has gone live with its cross-chain protocol, aimed at providing interoperability between traditional financial firms and both public and private blockchains. In a July 17 post on the Chainlink blog, Chainlink  Labs’ Chief Product Officer Kemal El Moujahid announced that its Cross-Chain Interoperability Protocol (CCIP) has launched under early access on Ethereum, Avalanche, Polygon, Arbitrum, and Optimism. Developers on these platforms will have access to CCIP on their respective testnets on July 20. 1/ The Chainlink Cross-Chain Interoperability Protocol…