Tag: Markets

UK government moves forward on financial markets bill for potential regulation of crypto

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Lawmakers in the upper house of the Parliament of the United Kingdom are moving forward with legislation that could help support the adoption of crypto in the country. In a meeting of the U.K. Parliament’s House of Lords on June 19, many members advocated for the passage of the Financial Services and Markets Bill — legislation aimed at strengthening the country’s financial services industry. The bill went through a third reading in the House of Lords, one of the final stages in passage before considering any additional amendments and being…

UK Lords Approve Financial Services and Markets Bill, Which Applies to Crypto, Stablecoins

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KuCoin price jumps over 18% as crypto markets rebound 

KuCoin (KCS) has emerged as one of the top gainers in the last 24 hours, with an 18% price surge. Meanwhile, the global crypto markets begin a slow recovery following the bloodbath triggered by the US Securities and Exchange Commission’s (SEC) recent enforcement actions against market participants. The price of bitcoin (BTC), ethereum  (ETH), and other cryptocurrencies have posted decent gains in the last 24 hours, suggesting investor confidence may gradually return to the space following the crazy bloodbaths witnessed in recent weeks. Gary Gensler’s SEC took legal actions against…

Mango Markets exploiter behind alleged $116M theft will stand trial in December

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The criminal case against the crypto user allegedly behind a multimillion-dollar exploit of decentralized exchange Mango Markets will be moving forward in the United States, with a trial scheduled for Dec. 4.  According to court records filed on June 14, Judge Richard Berman of U.S. District Court for the Southern District of New York set Avraham Eisenberg’s trial date for Dec. 4. Eisenberg was allegedly responsible for executing a major Mango Markets exploit in October 2022, resulting in the theft of roughly $116 million in the governance token MNGO, USD…

French financial markets ombudsman reports jump in crypto-related mediations

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Progress can have its drawbacks, as the French stock market regulator, the nongovernmental Autorité des marchés financiers (AMF), has noticed. According to the AMF ombudsman, digital asset-related mediations rose sharply in 2022, as did the number of registered digital asset service providers (DASPs). In its newly released 2022 annual report, the AMF ombudsman included a section dedicated to digital assets for the first time. It noted that, while the total number of cases received by the ombudsman decreased from 1,964 in 2021 to 1,900 in 2022, mediation requests relating to…

Binance applies to deregister in Cyprus, says focus is on ‘larger markets’

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Binance appears to be preparing to exit Cyprus. The Cyprus Securities and Exchange Commission has marked Binance Cyprus Limited as “Under examination for application for deregistration” on its website.  Previously, the cryptocurrency exchange received Class 3 registration as a Crypto Asset Services Provider (CASP) in Cyprus in October. At that time, Binance called the registration “another milestone in Binance’s regulatory efforts in Europe and follows similar registrations for Binance’s local entities in France, Italy and Spain.” Class 3 is the highest level of service provision in the island nation and…

Bitcoin stays flat at $26K after PPL data as markets await Fed’s Powell

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Bitcoin (BTC) stuck to $26,000 on June 14 as fresh United States macroeconomic data prints failed to move cryptocurrency markets. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView PPI offers Bitcoin bulls little fuel Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying stubborn as Producer Price Index (PPI) data showed U.S. inflation continuing to slow. US PPI just came in: -0.3% vs 0.2% previously-0.1% was predicted Just like yesterday, was lower than the predictions, furthering the likelihood of a pause at tomorrows #FOMC meeting. https://t.co/SymSTWwHSS — Decentrader (@decentrader)…

Bitcoin stays flat at $26K after PPL data as markets await Fed’s Powell

Bitcoin (BTC) stuck to $26,000 on June 14 as fresh United States macroeconomic data prints failed to move cryptocurrency markets. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView PPI offers Bitcoin bulls little fuel Data from Cointelegraph Markets Pro and TradingView showed BTC/USD staying stubborn as Producer Price Index (PPI) data showed U.S. inflation continuing to slow. US PPI just came in: -0.3% vs 0.2% previously-0.1% was predicted Just like yesterday, was lower than the predictions, furthering the likelihood of a pause at tomorrows #FOMC meeting. https://t.co/SymSTWwHSS — Decentrader (@decentrader)…