After receiving criticism from industry players last year for being too conservative, a committee at the Bank for International Settlements (BIS), has proposed a cap on how much exposure traditional banks can have to cryptoassets “where there is no counterparty.” According to a new consultation report from the BIS’ Basel Committee on Banking Supervision, the…
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Major non-fungible token (NFT) marketplace OpenSea has seen a steep drop in the daily sales volume, which recently plunged to below USD 1m. The drop comes as the broader NFT market has been spiraling downward and the prices of popular NFT projects have been plummeting…. Read More: OpenSea Daily Volume Plunges Below USD 1M as…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________… Read More: Three Arrows Reprimanded by Singapore, Crypto AUMs at Record Low, N Korean Hackers + More News Read more »Pay, Trade, Buy Bitcoin with Credit Card
“The defendants misappropriated, either directly or indirectly, all of the Bitcoin they accepted from the pool participants,” said the CFTC. The United States Commodity Futures Trading Commission, or CFTC, has taken enforcement action against a South African national in what the regulatory body called its “largest fraudulent scheme involving Bitcoin.” In a Thursday announcement, the…
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“Countries that have not introduced Travel Rule legislation should do so as soon as possible, and FATF jurisdictions should lead by example,” said the organization. The Financial Action Task Force (FATF) reported that 11 out of 98 responding jurisdictions have started enforcing its standards on Combating the Financing of Terrorism, or CFT, and Anti-Money Laundering,…
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Bitcoin price action will seal monthly losses over 40% for the first time in 11 years if it closes at $19,000. Bitcoin (BTC) drifted further downhill into the June 30 Wall Street open as United States equities opened with a whimper. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. dollar returns to multi-decade highs Data…
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Volatile cryptocurrencies such as Bitcoin would also be subjected to a 1,250% risk premium. On Thursday, the Basel Committee on Banking Supervision suggested during its second consultation on the prudential treatment of crypto-asset exposures that banks limit their exposure to so-called Group 2 crypto assets to just 1% of their Tier 1 capital. Group 1 digital…
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India’s central bank has been a vocal critic of cryptocurrencies over the years; it previously stated that CBDCs could thwart the adoption of digital assets. In its latest financial stability report published on Thursday, the Reserve Bank of India, or RBI, reiterated its skepticism of digital assets, writing: “We must be mindful of the emerging…
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European institutions have reached an interim consensus on a set of EU regulations that will burden crypto companies with the obligation to help prevent money laundering, among other illicit activities potentially involving digital assets. The progress comes as the Union seeks to comprehensively regulate the continent’s cryptocurrency market. EU Officials and Lawmakers Agree on AML…
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On Tuesday, the Canada-based investment firm Cypherpunk Holdings Inc. announced that the company has sold all of its bitcoin and ethereum due to the “risk of further significant drawdowns.” The company has transitioned its treasury to cash after selling 214.72 bitcoin and 205.82 ethereum as Cypherpunk Holdings continues “to see systemic risks propagating” across the…
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