Binance’s chief communications officer denied that the world’s largest cryptocurrency exchange is cutting 20 percent of its staff, following news reports about the job cuts on Wednesday morning. Binance’s Patrick Hillmann retweeted a post from independent journalist Colin Wu, who had reported that layoffs in June were expected to be about 20 percent…. Read More:…
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U.S. lawmakers have introduced a bill to prohibit the Federal Reserve from “establishing, carrying out, or approving a program intended to test the practicability of issuing” a central bank digital currency (CBDC). “CBDCs would threaten the liberties of law-abiding Americans and are being used by authoritarian countries right now to crack down on dissent,” said…
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First introduced in 2020, MiCA aims to create a consistent regulatory framework for crypto assets among the European Union member states. Officials with the European Union have signed the Markets in Crypto-Assets, or MiCA, bill into law following final approval from finance ministers. On May 31, Sweden’s minister for rural affairs, Peter Kullgren, and European…
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Crypto is too risky for “most” Russians, the nation’s Finance Ministry has claimed. But the ministry claimed tokens could be “suitable” for “professional investors.” Per the media outlet Nizhny Novgorod, the comments were made by Ivan Chebeskov, the director of the ministry’s financial policy department. Chebeskov said that most Russians should not “consider cryptocurrencies” to…
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A bankruptcy judge denied a motion for an independent examiner in February, leading to an appeal that may now go to the U.S. Court of Appeals for the Third Circuit. A United State district judge has referred a motion requesting the appointment of an independent examiner for bankrupt crypto exchange FTX to appellate court. In…
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Hong Kong’s ambition to become a crypto hub may not be sustainable, according to a Chinese crypto veteran whose digital asset business in China was overturned by a regulatory crackdown. In an interview with Bloomberg, crypto pioneer Bobby Lee, who set up China’s first Bitcoin exchange and founded US-based crypto storage provider Ballet Global, warned that…
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The government of Bali, Indonesia, is cracking down on the use of cryptocurrency as a means of payment by foreign tourists. “Strict actions range from deportation, administrative sanctions, criminal penalties, closure of business premises, and other tough sanctions,” said the governor of Bali. Strict Penalties Imposed for Foreign Tourists Using Crypto in Bali, Warns Governor…
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U.S. presidential candidate Robert F. Kennedy Jr. says he does not want anti-crypto people on the Securities and Exchange Commission (SEC). He also slammed the securities regulator for protecting banks rather than the American people. “What they’re doing is obscure, it’s not transparent, and it’s not bringing transparency to our system,” said the presidential hopeful.…
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On May 29, Huobi HK announced its expansion of services after Hong Kong implemented its new crypto exchange license system. The platform now provides spot and custodial services to both retail and institutional customers in Hong Kong. Huobi’s update comes shortly after Huobi Global faced regulatory hurdles in Malaysia, where authorities prohibited the operation of…
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The popular Indonesian tourist island Bali will tighten rules around payments to make it harder for foreign tourists to pay with crypto. Speaking at a press conference on Sunday, Bali Governor Wayan Koster indicated that the tighter rules on payments are part of a wider crackdown on what he called inappropriate behavior by tourists on…
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