On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the company’s teams would be ready on Monday to “handle significant volume” and that the firm will “stand behind USDC and…
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Software engineers and members of the development lab Ripplex want to create a cross-chain bridge for the XRPL network to bolster cross-chain transfers between different blockchain networks. According to a recent Github draft, the proposal outlines how the cross-chain bridge could function and suggests ways to prevent transaction replay. Ripplex Dev Proposes XRPL Cross-Chain Bridge…
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The U.S. Securities and Exchange Commission (SEC) has charged Basketball Hall of Famer Paul Pierce for touting EMAX tokens and making misleading comments about unregistered crypto securities. The former Boston Celtics small forward agreed to settle the charges and pay the SEC $1.409 million. SEC Chair Gary Gensler Wants to Remind Celebrities of Disclosure Laws…
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The group’s policy head doubted a divided Congress can create crypto legislation but said it doesn’t give regulators absolute authority in the interim. Despite attempts to police cryptocurrency through enforcement actions, United States financial regulators “are bound by legal reality” and Congress will ultimately decide crypto regulations the policy expert for the crypto advocacy group…
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The shutdown of Nexo’s earn product follows from a multi-million dollar settlement the firm paid last month with U.S. regulators. Cryptocurrency lending firm Nexo Capital is set to terminate its yield-bearing Earn Interest Product for its customers in the United States roughly a month after it agreed to pay $45 million in penalties to U.S.…
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SEC’s recent charges against crypto exchange Kraken over its staking program have sent tremors through the crypto industry. Members of the crypto community seem outraged over the recent charges laid against crypto exchange Kraken in relation to its staking-as-a-service program in the United States. On Feb. 9, the United States Securities Exchange Commission (SEC) announced…
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The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest Product (EIP). Nexo detailed that the settlements are on a “no admit, no deny” basis and that the…
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Ripple CEO Brad Garlinghouse said the firm’s XRP lawsuit could come to an end within “single-digit months.” Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the U.S. Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the…
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The largest crypto-asset exchange by global trade volume, Binance, announced that its custody business has launched an off-exchange settlement solution for institutional clients. With this solution, institutions can lock a specified amount of crypto with a qualified cold storage wallet, and assets will be mirrored on their Binance exchange account with a 1:1 balance. Binance…
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Federal prosecutors are reportedly investigating U.S.-based hedge funds that have dealt with the cryptocurrency exchange Binance, according to two people familiar with the matter. The hedge funds were allegedly issued subpoenas by the U.S. attorney’s office for the Western District of Washington. Sources Say U.S. Department of Justice Probes American Hedge Funds in Cryptocurrency Investigation…
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