US Securities and Exchange Commission’s Chair Gary Gensler pushed back against Coinbase’s call to have the agency propose and adopt rules for digital assets. Gensler was asked on Monday during Atlanta Fed’s 2023 Financial Markets Conference to comment on the dispute with Coinbase why the SEC doesn’t want to publish crypto rules. The rules have…
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Crypto-friendly Signature Bank “significantly’ cut back on digital asset deposits in the wake of increased volatility and regulators’ concerns at the end of last year, said the former chairman and co-founder of the now-shuttered bank. “Unfortunately, a series of truly extraordinary and unprecedented events unfolded quickly,” said Scott Shay, Signature’s former co-founder and chairman in…
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Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto. Bakkt’s decision to delist these tokens is part of a wider trend of companies reducing their exposure to risk as they try to navigate uncertain regulatory changes…. Read More: Bakkt Crypto Platform for Institutional…
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American billionaire hedge fund manager Paul Tudor Jones said bitcoin has a “real problem” due to unfriendly regulation in the US, in a recent interview with CNBC. “Bitcoin has a real problem because in the United States, you have an entire regulatory apparatus against it,” Jones said. Appearing on CNBC’s Squawk Box on Monday, the…
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The European Union’s new regulatory framework for crypto, MiCA, will make European crypto startups far more attractive to investors, one expert has argued. Writing on Twitter last week, Patrick Hansen, Director of Strategy and Policy at USDC-issuer Circle, said that “the MiCA effect” can already be seen in investments flowing into European crypto firms…. Read…
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The US Securities and Exchange Commission stands ready to help crypto intermediaries come into compliance, said the agency’s Chair Gary Gensler. Gensler spoke Monday at the Atlanta Fed’s 2023 Financial Markets Conference, following rising tension between the regulator and exchanges on how to go about registering with the agency. “I would say that their business…
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Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of…
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BTC price falls below the 55-day support level at $27,000, but futures market resilience sparks hope for a recovery toward $28,000. Bitcoin’s price (BTC) broke below its 55-day support at $27,000 on May 12. As a result, the two-day, 7% correction to $26,155 caused $100 million worth of long BTC futures contracts to be liquidated.…
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Democratic Party members of the U.S. House Committee on Financial Services were handed a memo instructing them to back the party’s position on crypto regulation moments before the commencement of the hearings on May 10. According to the party’s leaked memo, Democrats on the committee were expected to point to the Republican Party’s lack of…
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Republican leader at the US Securities and Exchange Commission said Europe’s legislation to regulate cryptocurrency could be a model as the country grapples with how to write rules for the industry. SEC Commissioner Hester Peirce, also nicknamed “Crypto Mom,” spoke at a Financial Times live event this week. “MiCA can serve as a model for…
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