Utah Republican senator Mike Lee outlined three major regulatory risks to the cryptocurrency industry at the recent Permissionless III crypto conference. They are the creation of a central bank digital currency (CBDC), fragmented state regulations, and heavy federal oversight. He warned these could threaten the digital assets sector, saying, “Cryptocurrency is not a security. Cryptocurrency…
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Howard Lutnick, CEO of Cantor Fitzgerald, says bitcoin is a commodity. “When you truly understand bitcoin, it’s hard to see it any other way,” he said, adding that the crypto “should be treated like gold and like oil.” While stating that other digital assets may vary, he firmly maintained that BTC is a commodity. Howard…
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Over the past ten years, fervent supporters of digital currency have engaged in intense debates: Is bitcoin (BTC) designed as peer-to-peer electronic cash as illustrated in Satoshi’s groundbreaking white paper, or does it serve as a digital store of value, similar to gold? Additionally, a central question emerges regarding the primary role of money: should…
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United States District Court Judge Katherine Polk Failla is also the judge overseeing the SEC’s lawsuit against crypto exchange Coinbase. A United States District Court judge has called Ether (ETH) a commodity in her dismissal of a class action lawsuit against the decentralized exchange Uniswap. In an Aug. 30 dismissal order of the case brought…
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A U.S. regulator called Bitcoin, Ether, and Litecoin commodities in its court filing against Binance. It did not mention XRP anywhere. XRP (XRP) outperformed its top-ranking crypto rivals over the past 24 hours while reaching the highest price in 10 months. XRP price tags 10-month high On March 29, XRP’s price surged by nearly 15%…
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During the last month, Russia’s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russia’s central bank revealed two weeks ago that it is further distancing itself from U.S. dollar dependence by purchasing the Chinese yuan on foreign exchange markets. Roughly around the same…
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Belgium’s take on what conditions must be met in order for a crypto asset to be classed as a security are in contrast to the views of U.S. Securities Exchange Commission Chairman Gary Gensler. Belgium’s financial regulatory body has confirmed its position that Bitcoin (BTC), Ether (ETH) and other cryptocurrencies that are issued solely by…
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Though he did not specify any particular crypto, SEC chair Gary Gensler said proof-of-stake cryptocurrencies could be subject to securities laws. Ethereum’s upgrade to proof-of-stake (PoS) may have placed the cryptocurrency back in the crosshairs of the Securities and Exchange Commission (SEC). Speaking to reporters after the Senate Banking Committee on Thursday, SEC chairman Gary Gensler…
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Gensler said he saw many crypto assets having attributes of a security, adding that Bitcoin is the only crypto he was comfortable publicly labeling as a commodity. Securities and Exchange Commission Chairman Gary Gensler riled up Crypto Twitter on Monday after affirming that Bitcoin (BTC) is a commodity. Questions were raised about its impact on…
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Holding $42,000 will help determine whether BTC bulls bag a $175 million profit in March 25’s $3.34 billion options expiry. Over the past two months, Bitcoin (BTC) has respected an ascending triangle formation, bouncing multiple times from its support and resistance lines. While this might sound like a positive, the price is still down 11%…
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