Author: Crypto News
The US Commodity Futures Trading Commission Chair Rostin Behnam, Coinbase’s Chief Legal Officer Paul Grewal and a slew of former regulators are set to testify Tuesday morning in front of a US congressional committee.The House Agriculture Committee will meet to discuss legislation to regulate cryptocurrencies and hear from Behnam, Grewal and former CFTC Chair Christopher Giancarlo, among others.The hearing titled, “The Future of Digital Assets: Providing Clarity for Digital Asset Spot Markets,” starts at 10 a.m. following news of a Securities and Exchange Commission complaint filed against crypto exchange Binance and days after House Agriculture Chair Glenn “GT” Thompson, R-Pa.,…
The Russian megabank Rosbank says it has launched a “cross-border crypto payments” pilot.Per RBC, Rosbank has become the “first major” Russian bank to launch cross-border payments services “in cryptocurrency.”The bank has teamed up with a local crypto firm named B-Crypto for its initiative.B-Crypto works as an “intermediary” by “buying cryptocurrency abroad” on behalf of importers before “transferring [coins] to foreign suppliers.”The banks said that it was “already conducting pilot transactions with corporate and private clients.”B-Crypto reportedly specializes in “making international payments in digital currencies.”Companies can reportedly use the pilot platform to “pay for imported goods or services in cryptocurrency” after…
The U.S. Securities and Exchange Commission announced today that it has filed charges against Binance, the world’s largest cryptocurrency exchange, for violating federal securities laws.The SEC alleges that Binance mismanaged billions of dollars of client funds and deceived regulators and investors.How might this affect the selection of the best cryptos to buy now?According to a document published on the SEC’s website, the agency is accusing Binance and its CEO Changpeng Zhao of covertly transferring funds to a company owned by Zhao.”Zhao and Binance were well aware of the regulations but deliberately chose to ignore them, putting their clients and investors…
The concept of “Internet 2.0” is beginning to pique public interest. Also known as Web3, it’s characterized by decentralization and the prevalence of cryptocurrencies and tokens. In this context, the overwhelming terminology of blockchains, wallets, gas fees, and a plethora of crypto tokens present a yet-to-be-fully explored domain, harboring both risks and opportunities in equal measure.Navigating this volatile landscape can often seem like an insurmountable task, with its inherent high price fluctuations and the unfortunate presence of scams. But help is on the horizon. A promising crypto project, Launchpad XYZ ($LPX), is in the works, seeking to establish a comprehensive…
A complaint by the US Securities and Exchange Commission filed against Binance and its CEO Changpeng Zhao unveiled a mix of stark revelations about the world’s largest crypto exchange from evading US laws to internal conversations about Binance.US. The SEC sued Binance and Changpeng Zhao, also known as CZ, on Monday for their “blatant disregard of the federal securities laws,” along with 13 charges, including operating an unregistered exchange.“[w]e are operating as a fking unlicensed securities exchange in the USA bro”The SEC said Zhao and Binance knew that they were operating the Binance.com platform in violation of various US laws.“As Binance’s…
In the wake of recent legal action by the US Securities and Exchange Commission (SEC) against Binance, the world’s largest cryptocurrency exchange, and its founder, Bitcoin has witnessed a significant plunge. This development has sent shockwaves throughout the crypto market, raising concerns and uncertainty among investors. In this Bitcoin price prediction, we will analyze the impact of the SEC’s lawsuit on Bitcoin’s price movement and explore potential scenarios for its future trajectory.SEC Files Lawsuit Against Binance and CEO CZ Alleging Regulatory Violations and MisconductThe US Securities and Exchange Commission (SEC) has taken legal action against Binance, the largest cryptocurrency exchange globally, and…
China’s perspective on web3 has come to light through a recently released white paper that suggests China is open to incorporating web3 into its future internet.In the paper, the term “Internet 3.0” is defined as a “three-dimensional space that combines virtual and real realms with a highly immersive interactive experience,” and it describes a future world characterized by a high level of intelligence and an integration of the virtual and physical worlds.“Web3,” on the other hand, is just one element within the broader concept of Internet 3.0, which also includes augmented reality (AR) and virtual reality (VR), the metaverse, and…
While many celebrate Bitcoin (BTC)’s plethora of new applications related to its new “Ordinals” protocol, developers maintaining the network’s source code are in disarray on the matter. Critics claim that new types of transactions beyond simple Bitcoin transactions are clogging the blockchain for those trying to use it for its intended purpose. One such critic is Ali Sherief, who told Bloomberg that he thinks Bitcoin’s system is being “abused.” The developer recommended introducing a Bitcoin upgrade in early March that would delete all transactions related to the new protocol. “Worthless tokens threaten the smooth and normal use of the Bitcoin network as a…
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The Japan Blockchain Week 2023 in Tokyo will commence on June 18 to July 9, 2023 and according to the Chainwire report, the Japanese Ministry of Economy, Trade and Industry (METI) is backing this year’s edition. This development comes amid the growing need for clearer regulatory pathways for crypto and accelerated efforts to become a global digital assets hub. Japan To Promote Web3 Through The Blockchain Week 2023The Japan Blockchain Week is the largest blockchain event held in Japan to promote the country’s web3 community to the world. The last event was held in Tokyo in 2022, with over 30 community events attracting…