Tag: Issues

Nepal Issues Yet Another Anti-Crypto Policy

Nepal has asked ISPs and email providers to expressly shut down everything that could propagate crypto in any way. Nepal has taken another major step to ensure that crypto and blockchain technology does not see the light of day within its jurisdiction. To this end, Nepal’s Telecommunications Authority has ordered that internet service providers (ISPs) must immediately clamp down on all crypto-related activities on the internet. Per the instruction, the regulator asked the ISPs to expressly shut down everything that could propagate crypto in any way. That includes every crypto-based…

FTX’s US Leadership, Bahamas Liquidators Say They’ve ‘Resolved’ Most of Their Issues

FTX Trading, which is the entity behind the FTX.com exchange, filed for bankruptcy in the U.S. last November, while FTX Digital Markets, a Bahamas-based entity, entered liquidation proceedings the same month. The joint provisional liquidators in the Bahamas and FTX Trading’s U.S. leadership had butted heads over the past few weeks, alleging interference with their respective proceedings. Original Source BahamasFTXsIssuesLeadershipLiquidatorsResolvedTheyve CryptoX Portal

US Federal Regulators Issues Joint Statement on Risks Related to Crypto Assets to Banking Organizations

The joint warning statement by United States regulatory agencies is in line with Biden’s directive on the healthy adoption of blockchain technology and digital assets. Top United States regulatory agencies – including the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) – have issued a joint warning statement on related crypto assets risks to financial institutions. According to the announcement, the events in the crypto market for the past year have highlighted…

Gemini’s Cameron Winklevoss Insists Digital Currency Group Needs to Resolve Liquidity Issues in Open Letter to CEO Barry Silbert – Bitcoin News

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Cameron Winklevoss, co-founder of the cryptocurrency exchange Gemini, published an open letter to Digital Currency Group (DCG) CEO Barry Silbert on Jan. 2, 2022, stating that it had been 47 days since withdrawals from Genesis had been halted. In the letter, Winklevoss claimed that DCG owes $1.675 billion to Genesis. Silbert, however, responded on social media, denying the claim. Gemini Co-Founder Publishes Open Letter to DCG Chief Executive Barry Silbert Demanding He Resolves Liquidity Issues by Jan. 8, 2023 Gemini co-founder Cameron Winklevoss shared an open letter on Twitter on…

Genesis and DCG seek path for the recovery of assets amid liquidity issues

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The co-founder of Gemini, Cameron Winklevoss, says that global investment bank Houlihan Lokey has devised a plan on behalf of a committee of creditors to resolve the liquidity issues at Genesis and its parent company, Digital Currency Group (DCG). According to Winklevoss, resolving the liquidity issues would provide a path for Gemini clients to recover assets owed to them by Genesis and DCG following the collapse of FTX.  Earn Update: Today, Houlihan Lokey presented a plan on behalf of the Creditor Committee to resolve the liquidity issues at Genesis and…

US Lawmaker Suggests ‘Maybe’ Crypto Should Be Banned Citing Bigger Issues Than FTX – Bitcoin News

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A U.S. senator has suggested that cryptocurrency should “maybe” be banned following the collapse of crypto exchange FTX. However, he acknowledged that banning crypto “is very difficult because it will go offshore and who knows how that will work.” Senator Sherrod Brown Suggests Banning Crypto U.S. Senator Sherrod Brown (D-Ohio), the chairman of the Senate Banking, Housing, and Urban Affairs Committee, talked about cryptocurrency in an interview with NBC Sunday. He stated that the Treasury Department and all the different regulatory agencies, including the U.S. Securities and Exchange Commission (SEC)…

Bringing community-based solutions to crypto lending can solve trust issues

A type of decentralized finance (DeFi) that allows investors to lend their crypto tokens in return for regular interest payments, the crypto lending space comprises both centralized and decentralized crypto entities that manage the entire process on behalf of their investors. Offering high annual percentage yields (APY) to investors from whom the tokens have been borrowed, these lending platforms further lend the same assets in the form of collateralized crypto loans to borrowers. However, despite providing businesses with easy access to capital and promising high yields for investors, the crypto…