Commodities – Page 2

Bitcoin Faces Increased Risk Relative to Stocks: Commodity Strategist Mike McGlone Warns of Challenges

August 7, 2023

Seasoned commodity strategist Mike McGlone says bitcoin is now riskier relative to stocks, while he further warned that economic downturn pressures may hold silver prices at bay. Bitcoin Volatility Low, Silver Faces Challenges: McGlone In a client communication dated August 2, 2023, the prominent Bloomberg Intelligence analyst observed that bitcoin’s 180-day volatility, hovering near record…
Read more

Ethereum Co-Founder Vitalik Buterin on SEC Crypto Enforcement Actions: ‘The Real Competition Is the Centralized World’

July 2, 2023

Vitalik Buterin, a co-founder of Ethereum, the second largest cryptocurrency project by market cap, took a stance on the recent actions that the U.S. Securities and Exchange Commission (SEC) has taken in the field of enforcement against crypto. Buterin mentioned how projects like Solana were included in these legal actions and stated that the real…
Read more

Shanghai Clearing House Introduces Support for Digital Yuan Settlements

June 28, 2023

The Shanghai Clearing House, Asia’s first counterparty clearing institution, announced support for payments made with the digital yuan Monday. According to reports, the move will allow companies to settle transactions for commodities in bulk, promoting the digital yuan, the Chinese central bank digital currency (CBDC), in international markets. Shanghai Clearing House to Support Digital Yuan…
Read more

Indonesia Labels 501 Cryptocurrencies as Commodities, Paving the Way for Regional Adoption

June 26, 2023

In contrast to the regulatory stance taken by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Supervisory Agency (CFTSA) of the Republic of Indonesia has officially labeled 501 cryptocurrencies as commodities. The list of these digital assets includes popular tokens such as bitcoin, ethereum, usd coin, litecoin, and several others that the…
Read more

An In-Depth Look at Binance’s TRO Opposition, Filing Insists SEC Manufactured an Emergency ‘for Its Own Purposes’

June 14, 2023

Binance fired back at the U.S. Securities and Exchange Commission’s temporary restraining order (TRO) request on Monday, assuring the court that “there is no risk” to customer assets. The exchange’s legal team dismissed the notion of an “emergency,” claiming that it is “manufactured by the SEC for its own purposes.” ‘Why Now?’—Binance Hits Back…
Read more

Notions of DAO Immunity Sink as CFTC Lawsuit Declares Ooki DAO a ‘Person’ Under the Law

June 11, 2023

On June 9, 2023, the Commodity Futures Trading Commission (CFTC) declared victory in a lawsuit against Ooki DAO, a decentralized autonomous organization. According to the CFTC, the judge’s ruling that the Ooki DAO is a “person” under the Commodity Exchange Act sets a new legal precedent. This decision could be quite significant as it’s the…
Read more

Founder of SEC Office of Internet Enforcement Warns of Upcoming Regulatory Siege: ‘Get Out of Crypto Platforms Now’

June 10, 2023

John Reed Stark, founder and former chief of the Office of Internet Enforcement of the U.S. Securities and Exchange Commission (SEC), has warned about a new regulatory “siege” against crypto platforms. Reed Stark believes that “crypto trading platforms are high-risk, perilous, and inherently unsafe” and recommends investors exit all crypto exchanges. Former SEC Enforcement Chief…
Read more

Gary Gensler links crypto with cash in viral 2018 video — Crypto Twitter reacts

April 26, 2023

The 2018 MIT professor Gary Gensler didn’t think most ICOs triggered U.S. securities laws. The crypto community is calling out the hypocrisy of Gary Gensler, the head of the United States securities regulator, after a 2018 video emerged of him stating that cryptocurrencies are on par with commodities or cash and are not securities. The…
Read more

Hong Kong Judge Rules Crypto Assets as ‘Property,’ Following Similar Rulings Worldwide

April 19, 2023

In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency practitioners and other common law jurisdictions. Hong Kong Judge Designates Crypto…
Read more

SEC Deems DASH, ALGO, and OMG ‘Unregistered Securities’ in Bittrex Lawsuit

April 18, 2023

According to the recent complaint by the U.S. Securities and Exchange Commission (SEC) against Bittrex, the securities regulator insists that a few crypto asset tokens were offered and sold as investment contracts and are securities. The news follows the SEC’s designation of several crypto assets as securities, including the case against Terraform Labs, which insists…
Read more

Category: Commodities