On June 5, the U.S. Securities Exchange Commission (SEC) filed charges against Binance and its related companies. The SEC then sought a restraining order against Binance.US to freeze the company’s assets and force the return of user funds. Objection to the SEC’s Order However, lawyers representing Binance and related firms have submitted a court filing
On June 13th, the House Financial Services Committee convened to hear the testimonies of five key players in the blockchain industry. The hearing, titled “The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem,” aimed to address the urgent need for regulatory clarity in the digital asset space. The recent legal actions taken
Republican lawmakers on the US House Financial Services Committee have called on the Securities and Exchange Commission (SEC) to withdraw its proposed rulemaking regarding crypto exchanges. The lawmakers have expressed concerns over the proposed amendment that would expand the definition of “exchange” under Rule 3b-16 of the Securities Exchange Act of 1934. They have argued
Bitcoin’s dominance in the cryptocurrency market has increased to almost 50% following the recent altcoin market slump. The Bitcoin Dominance Index (BTC.D), which tracks Bitcoin’s weight against other cryptocurrencies, reached 49.29% on June 13, slightly down from its two-year peak of 49.66% earlier in the week. The surge in Bitcoin’s dominance follows the United States’
Meme coins have been known to be some of the most profitable investments for investors worldwide. Shiba Inu is a meme coin that investors have relied on for huge profits for some years. However, investors now seem to be doubtful of its potential and price action going forward. The question that arises is whether or
Bank of China’s investment arm, BOCI, has taken a step towards simplifying digital asset markets and products for customers in the Asia-Pacific region. The bank has done so by becoming the first Chinese institution to issue $28 million worth of digital structured notes, tokenized on the main Ethereum blockchain network. The notes were initiated by
On June 12, Bitcoin (BTC) remained stable despite a brief macroeconomic data jolt, with the cryptocurrency circling around $26,000 and avoiding significant volatility. The latest United States Consumer Price Index (CPI) print came in lower than expected, causing a brief spike towards $26,500. While this was seen as a boon to risk assets, crypto markets
The US House Financial Services Committee Chair, Patrick T. McHenry, intends to hold a vote on a bill that would regulate digital assets by the middle of July. The bill in question, the Digital Asset Market Structure Discussion Draft, would classify cryptocurrencies as either a security or a commodity and regulate exchanges. Additionally, it would
Traditionally, work has been associated with brick-and-mortar office spaces and rigid nine-to-five schedules. However, recent years have brought about a significant change in this paradigm. Technology has opened up a new path, deviating from conventional employment towards the flexibility of freelancing. With the internet’s rapid proliferation and the digitization of work, freelancing has become a
XRP reached a 10-week high after documents related to former Securities Exchange Commission (SEC) Director William Hinman were made public. The SEC filed against Ripple in December 2020, alleging that the company and two senior executives had raised $1.3 billion through the sale of XRP tokens, which the agency deems unregistered securities. A major part