Ripple’s chief executive believes the U.S. Securities and Exchange Commission (SEC) will be unsuccessful in classifying ether as a security, similar to how the agency lost its legal battle, for the most part, against XRP. Noting that the SEC has been “losing badly in courts” against crypto firms, the Ripple CEO stated: “At what point […] Source CryptoX Portal
John Edwards, Information Commissioner said: “It’s important that lessons can be learned from this tragic case, particularly around what information can be shared during a fast-paced investigation. “What should be clear from this report, which we contributed to, is that there are stringent laws protecting how personal information is used and shared in the UK. Police must demonstrate that sharing personal information is proportionate and necessary to protect the public and investigate crime.” “Our thoughts remain with Nicola Bulley’s family and friends”. Source
The upcoming $1.9 billion Bitcoin monthly options expiry on Aug. 25 is key to defining whether the $26,000 support level will hold. One could pin the recent cryptocurrency market sell-off on the United States Securities and Exchange Commission (SEC) delaying its decision on spot Bitcoin exchange-traded funds, but there’s also the macroeconomic perspective. If the Federal Reserve’s efforts to curb inflation work, it’s probable that the trend of a stronger U.S. dollar will persist. This was evident as the U.S. Dollar Index (DXY), a measure of the dollar against other currencies,…
Coinbase CEO Brian Armstrong believes crypto entrepreneurs will return to the United States once the government establishes the “right outcome” for cryptocurrency regulations. In a recent interview, Armstrong emphasized that regulating crypto is simple and expressed confidence that the United States will achieve regulatory clarity, even if it takes time. Armstrong’s comments come amid a clash with regulators, with differing opinions about his approach. Some see his stance as bold and potentially transformative. On the other hand, others view it as reckless posturing by a Silicon Valley crypto enthusiast who may be inviting…
Brian Armstrong, the CEO of cryptocurrency exchange Coinbase, emphasized that regulating crypto isn’t “rocket science” and is confident that the United States will achieve regulatory clarity, “even if it takes a while.” Armstrong sat down for an interview with Wall Street Journal on June 11, just days after the SEC filed a lawsuit against Coinbase on June 6. The SEC alleged that Coinbase has been operating a securities exchange, broker-dealership and clearing house without registering with the commission. Full WSJ interview on YouTubehttps://t.co/yIF3dGI7oN — Brian Armstrong ️ (@brian_armstrong) June 10,…
In this week’s episode of Market Talks, Cointelegraph welcomes Justin Bram, co-founder and CEO of Astaria — which allows users to put up their nonfungible tokens (NFTs) as collateral to earn instant liquidity. Bram also has his own YouTube channel with over 30,000 subscribers. We kick things off by getting Bram’s opinion on the most exciting thing happening in decentralized finance (DeFi) right now and follow it up by discussing the most important thing happening in DeFi. We then get into Ethereum layer-2 protocols like Arbitrum and whether Bram is…
FTX founder Sam Bankman-Fried has received official criminal charges after the collapse of his cryptocurrency exchange, which is more than just a moral victory for the exchange’s roughly 1 million individual investors. While not locked in yet, things appear to be on track for these investors to take a more favorable tax position as SBF’s fate continues to unravel. What kinds of losses can FTX investors claim on their taxes? Earlier this fall, it appeared that assets lost in the FTX collapse would be considered a capital loss under the…
Unfortunately, because bitcoin is treated as an indefinite-lived intangible asset, the company is not allowed to increase the value of the bitcoin to accurately represent the financial reality that the asset it holds is now worth more. Mark-to-market assets, in contrast, allow companies to adjust the value of an asset to reflect its value as determined by current market conditions. If bitcoin were allowed to be treated as a mark-to-market asset, companies could do this. Source
Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrencies are “very vulnerable to sentiment and prone to collapse.” He urged regulators to “get on with the job” and regulate crypto under the principle of “same risk, same regulatory outcome.” Bank of England’s Cunliffe on Crypto Regulation Sir Jon Cunliffe, deputy governor for financial stability at the Bank of England (BOE), discussed cryptocurrency risks and regulations this week at the British High Commissioner’s residence in Singapore. The Bank of England executive cautioned: Financial assets with…
Bitcoin (BTC) investors in China plan to buy the dip despite an ongoing market correction and a nationwide crypto ban, a new survey shows. Consensus sees Bitcoin at $10K A survey of 2,200 people conducted on China-based social media platform Weibo found that 8% would buy Bitcoin when its price hits $18,000, according to Wu Blockchain. While 26% of the respondents prefer to wait until BTC reaches $15,000. But a majority anticipated the price to fall even further with 40%, saying they would buy BTC at $10,000. In a survey…