Tag: Report

Coinbase CEO says SEC told it to delist everything but Bitcoin: Report

boss

Crypto exchange Coinbase was once told by the United State securities regulator to delist all cryptocurrencies on its platform except for Bitcoin (BTC), according to CEO Brian Armstrong. In a July 31 interview with the Financial Times, Armstrong revealed that the U.S. Securities and Exchange Commission wanted the exchange to delist the nearly 250 tokens on its platform prior to it filing a lawsuit against the exchange. At the time, the SEC reportedly said it believes “every asset other than Bitcoin is a security,” said Armstrong. “We said, well how…

SEC Asked Coinbase to Stop Trading in all Cryptocurrencies Other Than Bitcoin Before Suing: Report

boss

“They came back to us, and they said . . . we believe every asset other than bitcoin is a security,” Armstrong said according to the FT. “And, we said, well how are you coming to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than bitcoin.” Original

Ripple Report Foresees Blockchain Saving Financial Institutions $10 Billion By 2030

boss

Blockchain technology is continually reshaping the financial industry, offering promising transformations in transaction processing. Its potential is immense, as outlined in a recent report by digital payment network Ripple in collaboration with the United States Faster Payments Council (FPC). The report presents a robust case for blockchain’s role in expediting payment systems and the ensuing cost savings. But is the financial sector ready to embrace this emerging technology on a large scale? Financial Institutions To Embrace Faster Payment Systems With Blockchain The survey, which received inputs from 300 finance professionals…

German regulator raised concerns about Binance CEO prior to license application withdrawal: Report

boss

The German Federal Financial Supervisory Authority, or BaFin, reportedly advised crypto exchange Binance to withdraw its licensing application based on concerns with CEO Changpeng Zhao and the firm’s structuring. According to a July 28 report from The Wall Street Journal, BaFin advised Binance that Zhao, also known as “CZ,” may not have passed a “fit and proper” test under the financial watchdog’s regulatory guidelines. The regulator’s guidelines for a license application state managing directors — in this case referring to CZ — must “have the required professional qualification and be…

French privacy watchdog questions Worldcoin’s data collection method: Report

boss

The French National Commission on Informatics and Liberty (CNIL), France’s data protection agency, is questioning the legality of Worldcoin’s data collection methods, according to a Reuters report.  In an email to Reuters on July 28, CNIL said: “The legality of this collection seems questionable, as do the conditions for storing biometric data.” CNIL also stated that it had initiated investigations and had been supporting the efforts of the Bavarian state authority in Germany with its investigation into the matter. Reuters also reported on July 25 that Worldcoin may face inquiries…

Indian Supreme Court raps Union government on crypto rules delay: Report

boss

The Indian Supreme Court on July 27 reprimanded the Union government for the lack of crypto regulations in the country, according to a report in a local media outlet.  The Supreme Court in its observation noted that it is “unfortunate” that the government has yet to release any clear guidelines around cryptocurrencies. The observation from the court came amid growing instances of criminal activities involving cryptocurrencies and directed the Union government to bring on record whether it plans to set up any dedicated federal agency to investigate such crypto criminal…

Here’s how big food and beverage brands are using NFTs: Report

boss

Nonfungible tokens (NFT) adoption is picking up steam across the food and beverage industry, with many fast-food chains displaying interest in this new asset class.  A report by ResearchAndMarkets.com states that the global food & beverage NFT market size is expected to reach USD 2,134.04 Million by 2032. These statistics have been evident as recently, Global fast-food brands, including Pizza Hut and Papa John’s, are discovering new ways to integrate NFTs into their marketing strategies.  The report states that the key supporting factors for the market are the adoption of blockchain…

Hydropowered crypto mining gets nod from Kyrgyz president: Report

boss

The Kyrgyz Republic, a central Asian state bordering China, is reportedly growing its cryptocurrency mining powers with support of the local government. Kyrgyz President Sadyr Japarov has given a nod to building a crypto mining farm at a hydroelectric power plant, Kyrgyzstan’s national news agency Kabar reported on July 27. The government of Kyrgyzstan plans to spend up to $20 million to build a cryptocurrency mining facility at the Kambar-Ata-2 Hydro Power Plant. According to the president, running a crypto mining farm will allow the government to avoid energy losses…

Crypto mining hardware retailer Phoenix Technology mulls IPO in UAE: Report

Crypto mining hardware provider Phoenix Technology is reportedly starting discussions to conduct an initial public offering (IPO) in the United Arab Emirates, according to a report by Bloomber.  The Bloomberg report cites anonymous sources who explained that discussions around the matter are still ongoing and the details are not yet finalized. Phoenix Technology is a UAE-based mining operator which is developing one of the largest mining facilities within the Middle East. The company has distribution rights for various tech hardware manufacturers throughout the Middle East, Africa and Turkey.  Cointelegraph reached out to Phoenix…

SEC Implements Rule Requiring Companies, Including Crypto Firms, to Report Cybersecurity Breaches

Most listed companies already include cybersecurity risks in their investor documents, but, until now, the SEC did not mandate any disclosures from them. Public companies and foreign private issuers must also must describe how their board oversees cybersecurity risks and detail “management’s role and expertise in assessing and managing material risks from cybersecurity threats.” Source