Bittrex, SEC Reach Settlement In Securities Violation Case

Another crypto firm, Bittrex, bites the dust in the SEC’s continued clampdown on major players in the crypto industry amidst regulatory uncertainty. The regulator has been known to come hard at these crypto firms because it believes they aren’t toeing an almost non-existent regulatory framework.  Bittrex Succumbs To SEC In a press release dated August 10, the United States Securities and Exchange Commission (SEC) announced that crypto exchange Bittrex and its former CEO William Shihara have agreed to a $24 million monetary settlement with the regulator. According to the statement,…

Canadians barely interested in CBDC with 98% of citizens banked

The Bank of Canada conducted research to understand how citizens would behave in a hypothetical cashless environment toward CBDC. The research paper analyzes the role of CBDC in the potential cashless scenario. The report showed that most Canadian citizens might have weak incentives to use CBDCs, as they don’t have barriers to accessing financial services. In other words, Canadian society has high levels of financial inclusion. According to the research, 98% of the population has a bank account, 87% holds a credit card, and 90% of rural and urban citizens…

‘XRP is not a security. Period’ — Crypto lawyers on Ripple’s case amid SEC appeal

As the United States Securities and Exchange Commission (SEC) seeks an interlocutory appeal in its case against Ripple Labs, lawyers working in the crypto space expressed confidence in Ripple’s case, with some underscoring that the XRP (XRP) token is not a security.  On Aug. 9, the SEC sent a letter to Judge Analisa Torres stating that it was moving to appeal the court decision, which it says warrants a fresh look by an appellate court. The SEC asked the judge to put the case on hold while the appeal is in…

California commission outlines campaign disclosure requirements for crypto

The California Fair Political Practices Commission (FPPC) has updated its campaign disclosure manuals, with revisions including detailed rules for cryptocurrency contributions declarations. An agenda released for an upcoming commission meeting includes a discussion of updated campaign disclosure manuals, which have been reworked to reflect recent changes to legislation and commission regulations. The updates include campaign contribution limits, limited liability companies disclosure requirements, behested payment reporting, cryptocurrency contributions, excessive contributions, advertising disclosure requirements and other non-substantive technical changes. Related: Consumer Federation of California reattempts to regulate crypto companies Also included are guidelines for…

Canada to develop repository for storing crypto and NFT seizures

The Royal Canadian Mounted Police (RCMP) is seeking for a digital asset solution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens (NFTs). A tender was opened for applications on August 10. As the tender announcement goes:  “The development of a centralized repository solution would allow police officers to seize these assets in a user friendly manner, while also offering significant security to prevent the theft of said assets during their storage.” There are seventeen points, demanded by the RCMP from the future repository. Among them are the…

4-Year Cycle And Elliot Wave

The Bitcoin landscape is no stranger to debates and predictions. Two dominant theories are currently at the forefront: the 4-Year Cycle and the Elliot Impulse Wave. However, a comprehensive analysis by the esteemed crypto analyst CryptoCon, suggests a fascinating intersection of these two theories. The Dueling Bitcoin Price Prediction Theories At the heart of the debate are two camps. The first, the 4-Year Cycle proponents, believe in Bitcoin’s 4-year journey from cycle tops to bottoms, with a predicted zenith in 2025. The second camp, the Elliot Impulse Wave advocates, are…

Bitcoin ETF momentum runs out as crypto market enters summer slump: Report

After June gave Bitcoin (BTC) a boost with BlackRock’s application for spot Bitcoin exchange-traded fund (ETF), July sent its price into a summer slump. Only some altcoins managed to perform well in response to Ripple Labs’ partial victory against the United States Securities and Exchange Commission. XRP (XRP), the most obvious beneficiary, posted a monthly close of +49%. The overall response of markets to the result of the lawsuit was much more muted than many anticipated, as a ruling on XRP’s sales does not easily generalize to other coins and…

Turbulent AVAX Price Trends And Fading Trading Activity

Avalanche (AVAX) has found itself ensnared within a critical price zone, grappling with a lackluster trading volume that has hindered its price action. The coin’s journey has been fraught with challenges as market sentiment takes a bearish stance, casting shadows over its potential upward trajectory. The recent attempt at a bullish surge, stemming from the $11 support level, encountered a formidable obstacle at the $15.8 resistance level. This pivotal juncture proved to be an insurmountable barrier, leading to an abrupt price rejection.  The consequence of this rejection has been instrumental…

XRP Prices Temporarily Spiked to $50 on Gemini

The tokens were relisted on Gemini after July’s court order in favor of Ripple Labs, with judges ruling that the “offer and sale of XRP on digital asset exchanges did not amount to offers and sales of investment contracts.” It was previously alleged Ripple Labs sold XRP, a security, to U.S. customers without adequate registration with the U.S. Securities and Exchange Commission (SEC). Source