Month: July 2024

Switzerland’s FINMA Publishes Guidance on Stablecoins to Address Risks on Default Guarantees Issued by Banks

FINMA’s guidance, which builds on an initial note from 2019, sets out a number of requirements to ensure adequate protection. Customers must have their own claim against the guarantee-providing bank, and the guarantee must cover the full amount of deposits and interest. In addition, the bank must ensure that the deposits it receives don’t surpass the cover provided by the guarantee. Source

Bitcoin and crypto regulation must be bipartisan

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In a recent discussion on CNBC’s Squawk Box, Anthony Scaramucci, founder of SkyBridge Capital, emphasized the importance of bipartisan support for Bitcoin and crypto regulation. Scaramucci highlighted the urgency of bipartisan cooperation in shaping crypto policies. “We need to make Bitcoin and the regulation around blockchain and cryptocurrency bipartisan,” he said. He and prominent figures like Mark Cuban and Michael Novogratz have been in discussions with White House officials to convey the risks associated with what he termed as the “Gary Gensler, Elizabeth Warren, anti-crypto approach.” The SkyBridge Capital founder…

Bitcoin Supply Drop Signals Bullish Price Movement, Analyst Says

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After its latest halving event, Bitcoin sent a positive signal throughout the crypto market. Historically, this big drop in supply has been connected to notable price gains, which has inspired investor hope. Related Reading The halving, which cut the rate at which new Bitcoins were made, has actually slowed the flow of new Bitcoins into the market. This sudden drop in supply, along with growing interest from institutions and wider use, is likely to push Bitcoin prices up. Many investors are attentively observing these dynamics and expect a similar trend…

ICO takes action against two organisations for “risking public trust” by failing to respond to public requests for information

We have taken action against two trusted public services after investigations found they’d failed to meet basic information request requirements, as set out under the Freedom of Information Act 2000 (FOIA). Both Devon and Cornwall Police and Barking, Havering and Redbridge Hospitals NHS Trust have been issued with enforcement notices for their ongoing FOI failings which have seen hundreds of information requests go without a response. Our Head of FOI Complaints and Appeals, Phillip Angell, said: “Everyone should have the ability to access public information. When this information is not received…

Bitcoin Price (BTC) Climbs Back Above $67K, Spurring CoinDesk 20

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Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

VacEck Places $52.4 Million Price Tag On Bitcoin, But How Is This Possible?

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American investment management firm VanEck has set an astonishing price target for Bitcoin (BTC), the world’s largest cryptocurrency. This forecast, which seems almost inconceivably high compared to most market predictions, has garnered significant attention. Despite the ambitious forecast, VanEck’s research team has presented a comprehensive rationale explaining why they believe such a substantial price increase is attainable.    VanEck Predicts Bitcoin Valuation For 2050 On July 24, VanEck published a report, outlining the teams’ assumptions for a bull scenario in which BTC could potentially rise to $52.38 million by 2050. Notably,…

Bitcoin Cash Jumps 7% amid Mt. Gox Repayments, Eyes $400

CoinspeakerBitcoin Cash Jumps 7% amid Mt. Gox Repayments, Eyes $400 Bitcoin Cash (BCH), a leading blockchain network created as an alternative to Bitcoin (BTC), has witnessed remarkable growth in the past 24 hours and is now eyeing the $400 price level. The altcoin is up by around 7% and is trading at $375.40 at the time of writing, after rebounding from the $348 price level. The surge in the price of BCH comes at a time when Mt. Gox, a bankrupt digital asset trading platform, has initiated creditor repayments. It…