Bakkt, a crypto custody service that includes an app where consumers can view and transact with assets, has announced the closure of its consumer-facing app as regulatory scrutiny increases. In a Monday press release, the digital asset company said it is shutting its consumer-facing app to focus on business-to-business (B2B) tech services. … Read More: Crypto Custody…
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India’s central bank, the Reserve Bank of India (RBI), has revealed that 50,000 users and 5,000 merchants are now using its central bank digital currency (CBDC). Digital rupee transactions are currently processed by eight banks, with five more banks set to join the pilot soon, said RBI Deputy Governor T. Rabi Sankar. Digital Rupee Now…
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The crypto world was jolted last week when the Securities and Exchange Commission (SEC) shut down Kraken’s staking program, much to the satisfaction of Chairman Gary Gensler and his team. But what does this mean for the future of cryptocurrency and, more specifically, staking? The following opinion editorial was written by Bitcoin.com’s Business Development Manager…
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Kraken has put an end to staking as a service, and Coinbase could eventually be forced to follow suit. Will this create opportunities for LDO, FXS and RPL? The United States Securities and Exchange Commission is ramping up pressure on the crypto sector. On Feb. 9, the SEC reached a $30 million settlement with Kraken…
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The liquidators said they would “commence disposals” of certain FTX Digital physical assets following approval from the Bahamas’ supreme court. The joint provisional liquidators of FTX Digital Markets — the firm’s subsidiary in the Bahamas — has released a report on the company’s physical assets in the island nation. According to affidavit filed by a…
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The CEO of crypto exchange Kraken, Jesse Powell, has called on Congress to pass a law to protect the U.S. crypto industry after the Securities and Exchange Commission (SEC) took action against his trading platform over its crypto staking service. Kraken’s CEO Responds to SEC Action Kraken CEO Jesse Powell urged Congress to pass a…
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On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service. Digital currency advocates are now debating what constitutes a yield product versus a noncustodial solution…
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Panic over regulatory enforcement sees Bitcoin and altcoins give up recent gains, costing long traders over a quarter of a billion dollars in a single day. Bitcoin (BTC) fell to bearish target zones on Feb. 10 as bulls failed to hold important support above $22,000. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Crypto wipeout mounts…
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The Central Bank of Brazil will focus its first digital real tests on determining the levels of privacy and security that can be achieved with the proposed central bank digital currency (CBDC) infrastructure. The tests will be conducted later this year and will set up a simplified operation to transact with a still-to-be-determined tokenized asset.…
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Regulators in Argentina are mulling the inclusion of stringent requirements in their next cryptocurrency regulatory framework. According to reports, institutions like the national securities regulator, the CNV, will be studying the inclusion of proof-of-solvency requirements for exchanges and custody institutions in Argentina, in the wake of the demise of leading cryptocurrency exchange FTX. Cryptocurrency Exchanges…
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