The U.S. state of North Carolina has advanced a bill to study holding cryptocurrencies, particularly bitcoin, in the state treasury. The bill appropriates $50,000 from the state’s general fund to study three areas, including “The process of acquiring, securely storing, insuring, and liquidating … virtual currency, such as bitcoin, that may be held on behalf…
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Coinbase, the largest U.S.-based digital asset exchange, has fired back at the U.S. Securities and Exchange Commission (SEC) in a court filing, stating that the regulator lacks the jurisdiction to institute an enforcement action against the exchange. Both the SEC and Coinbase are bracing themselves for a lengthy legal battle with the securities watchdog claiming…
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Argentina’s top financial regulator says it wants to adopt the crypto regulations set out by the Financial Action Task Force (FATF), the international money laundering and terrorist financing watchdog. The comments came from Sebastián Negri, the President of the National Securities Commission (CNV), and were reported by the media outlet Criptonoticias. Negri spoke of an…
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Crypto custodian Prime Trust is facing imminent closure as Nevada regulators move to shut down the troubled company, potentially making it the latest victim of the crypto bear market. The regulatory action comes after it was discovered that Prime Trust owed millions of dollars to its customers, placing it in an “unsafe financial condition and/or…
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The Dubai Virtual Asset Regulatory Authority (VARA) recently announced the schedule of fees “covering the issuance of no-objection certificates to proprietary traders, amendments or withdrawal of licence applications, and the submission of whitepapers for VARA review.” According to VARA, licensed entities seeking to completely withdraw from Dubai will be asked to pay a license withdrawal…
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Anatoly Aksakov, chairman of the Financial Markets Committee of the State Duma, the lower chamber of the Federal Assembly in Russia, has remarked that the government intends to hold “serious” control over crypto after it is legalized. According to local reports, Aksakov also stated that crypto users were looking forward to this legalization to use…
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The filing suggested Prime Trust had financial liabilities to its users totaling more than $82 million in fiat and $800,000 in crypto. Following the filing of a cease and desist order, Nevada’s Financial Institutions Division has again moved against crypto custodian Prime Trust by petitioning for the appointment of a receiver. In a June 26…
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Former FTX CEO Sam Bankman-Fried will likely still face 13 criminal counts over two separate trials starting in October 2023 and March 2024. A federal judge overseeing the case against former FTX CEO Sam Bankman-Fried (SBF) has denied motions from his legal team seeking to dismiss all but three criminal charges against him. In a…
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The Financial Conduct Authority’s (FCA) head of digital assets Binu Paul has left the organization. This comes less than a year after joining the FCA. According to his LinkedIn profile, Paul worked for the UK regulator for nine months, between October 2022 and June 2023. When he had just joined the FCA, he replaced Victoria…
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Bitcoin margin and futures markets display strength as institutional appetite surges after multiple spot ETF requests. After a failed rally above $31,000 on June 23, Bitcoin (BTC) has sustained the $30,300 resistance for the past three days. Curiously, this happened while gold reached its lowest level in three months, trading at $1,910 on June 22,…
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