“The SFC is concerned that these products have also been offered to Hong Kong investors and wishes to make it clear that no entity in the Bybit group is licensed by or registered with the SFC to conduct any ‘regulated activity’ in Hong Kong,” the SFC said. “Last but not least, the SFC will not hesitate to take enforcement action against unlicensed activities where appropriate.” Source
The two crypto firms are attempting to improve cross-border payments via stablecoins for large corporations and institutions. Source
The U.S. Consumer Price Index (CPI), experienced a 3.2% increase over the 12 months ending in February, marginally higher by 0.1% compared to January’s CPI. This development is not being well-received by the financial markets, as the U.S. Federal Reserve might postpone any reductions in the benchmark federal funds rate. Persistent Inflation Pressures Fed, Leaving […] Source CryptoX Portal
Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (SEBI), announced plans to introduce faster settlements on Monday. India is planning to introduce a same-day settlement cycle from March 28 on an optional basis, making it the second country after China to do so while other nations typically settle within two days, a local report said. Source
“We must continually be fair and consistent in evaluating the products and proposals presented for our consideration,” Behnam said.”The commission must abide by core regulatory principles that prioritize, among other things, customer protections, market stability, and resilience. And, we must ensure a level playing field, regardless of the asset class.” Source
The memecoin frenzy has struck again, and this time it’s centered around the likeness of US President Joe Biden. BODEN, a token named after the president, has experienced – at one point – a mind-boggling surge in value, skyrocketing by a jaw-dropping 5,000%, according to CoinMarketCap. BODEN’s meteoric rise is just one example of the wider trend of meme coins seeking to capitalize on the popularity of prominent figures, be they politicians or celebrities. These tokens aim to attract investors seeking quick profits by leveraging the fame of their namesakes.…
A U.S. district judge has sided with the Securities and Exchange Commission (SEC) in a ruling that declares the trading of certain crypto assets on secondary markets to be securities transactions. This decision emerged from an insider trading case involving crypto exchange Coinbase’s former product manager Ishan Wahi, his brother Nikhil Wahi, and their friend […] Source CryptoX Portal
As the cryptocurrency market swells to a valuation of $2.6 trillion, the leading stablecoin, tether, has achieved a market cap of $100 billion. Beginning from the start of 2024, tether has seen an addition of 8.27 billion tokens to its supply. From $300K to $100 Billion: Tether’s Meteoric Rise Tether (USDT), the top fiat-linked digital […] Source CryptoX Portal
Bitcoin (BTC) wrapped up the week at approximately $63,100, marking a notable 22% surge from the previous week’s closing price of around $51,725. The week witnessed vigorous price action, particularly in the first half, as BTC experienced a substantial appreciation from Monday to Wednesday, peaking at $64,000 on Wednesday. Subsequently, the price stabilized in the latter half of the week, closing at about $63,100. As of the time of this writing, BTC has regained momentum and is currently trading above $65,000. The BTC Spot ETFs continue to exhibit strong momentum,…
“As DeFi continues to lead on Arbitrum, we’ll now see one of the most recognizable trading platforms bring low-cost in-app swaps to a wide audience of traders,” said A.J. Warner, chief strategy officer at Offchain Labs, the primary developer firm behind the Arbitrum network, in the press release. Source