The founders of Bitmex have been ordered to pay $30 million “for illegally operating a cryptocurrency derivatives trading platform and anti-money laundering violations.” Arthur Hayes, Benjamin Delo, and Samuel Reed must pay $10 million each. Bitmex’s Founders Fined $30 Million The Commodity Futures Trading Commission (CFTC) announced Thursday that the U.S. District Court for the…
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Russia’s ability to employ cryptocurrencies to circumvent international sanctions is restricted by the limited size of the crypto market, according to Moody’s. Despite increased use in small transactions, low liquidity is another factor preventing Russians from exploiting the utility of bitcoin and the like. Crypto Assets Not Viable Option for Sanctioned Russia, Moody’s Report Suggests…
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The last five weeks has been brutal for digital currencies as more than 21% has been shaved off the crypto economy’s fiat value since March 27. While all the crypto assets combined shed roughly 0.8% in the last 24 hours, bitcoin has lost 9.4% since last week and seven day statistics show ethereum has dropped…
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A U.S. senator has introduced a bill to prohibit the Labor Department from issuing a regulation or guidance that limits the type of investments investors can choose in their retirement plans, including cryptocurrency. “Today, the Biden administration is targeting cryptocurrency. Which investment class is next?” the lawmaker stressed. Financial Freedom Act The issue of what…
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Two U.S. senators, including Elizabeth Warren, have sent a letter to Fidelity Investments demanding answers regarding the company’s decision to allow bitcoin investments in 401(k) retirement plans. “Investing in cryptocurrencies is a risky and speculative gamble, and we are concerned that Fidelity would take these risks with millions of Americans’ retirement savings,” the lawmakers wrote.…
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Demand for WisdomTree’s crypto-backed funds has stayed “consistently strong” through the price slump this year, with professional money managers in Europe among the key players allocating to the space, this asset management firm and exchange-traded fund (ETF) provider has said. Will Peck, Head of Digital Assets at WisdomTree, told Cryptonews.com in an interview on…
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Authorities in Georgia are now holding discussions with industry representatives to finalize a bill designed to regulate coin trading, among other crypto-related activities. The legislation will be presented to the Georgian society this fall at the latest, a top central bank official announced. Central Bank of Georgia Talks Crypto Regulation With Market Players The National…
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A rising number of central banks globally have the legal authority to issue central bank digital currencies (CBDCs), and, compared with a year earlier, the share of central banks which are currently developing a CBDC or running a pilot nearly doubled from 14% to 26%, according to a new report by the Bank for…
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Cryptocurrency exchange Binance has received regulatory approval from the French financial regulator to operate as a registered digital asset service provider. “Binance will significantly scale our operations in France to make crypto and our services more accessible to all,” the exchange said. Binance Becomes a Fully Regulated Crypto Exchange in France Crypto exchange Binance announced…
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Marco De Rossi, President and Co-Founder of HAL.xyz, a blockchain data listening and automation platform.__________ Cryptocurrency is strong on self-sovereignty with the term “not your keys, not your coin” a popular maxim when talking about crypto ownership. While owning your private keys may be one step in self-custody, another is understanding what is actually…
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