Over the past year, the cryptocurrency market has seen a surge in initiatives that prioritize environmental or social causes. Despite the decentralized nature of the crypto industry, teams are recognizing the potential of blockchain technology to bring people together for positive purposes. As a result, several projects are tailoring their solutions to address admirable objectives.
Circle CEO, Jeremy Allaire, has called for the urgent passing of a stablecoin bill, which he hopes will be signed by President Joe Biden. He argues that other countries are already making progress in this area, with new laws being established in the European Union, Japan, and Hong Kong to regulate the use of US-issued
The US Department of the Treasury is exploring the privacy implications of a potential retail central bank digital currency (CBDC), according to Graham Steele, assistant secretary for financial institutions at US Treasury. Speaking at the Transform Payments US 2023 Conference in Texas, Steele said a retail CBDC could have both benefits and drawbacks, with privacy
According to a recent Bloomberg report, Binance.US and the U.S. Securities Exchange Commission (SEC) might reach a compromise agreement. The agreement, if reached, could avoid a complete asset freeze. The SEC had first filed charges against Binance.US and some related companies on June 5. In response, the SEC requested a restraining order and asset freeze
On June 13th, Bitcoin (BTC) returned above $26,000 as it tried to reclaim support after the daily close. Despite ongoing legal action in the United States and macroeconomic data releases, Bitcoin remained in a narrow range throughout the week. Traders, including Crypto Tony, warned of the potential risks of deep trades while noting the upside
The cryptocurrency industry is currently facing regulatory challenges and lawmakers in the United States and the United Kingdom are set to bring the discussion into the public sphere. On June 13, both nations will host high-profile hearings, marking a pivotal moment in the ongoing debate over digital asset regulation. The UK Debate The U.K. Parliament
Binance.US and its CEO Changpeng Zhao have argued against the US Securities and Exchange Commission’s (SEC) temporary restraining order to freeze its assets. The lawyers stated that there was no risk to customer assets and that the SEC’s proposed restraining order should be denied. They argued that the SEC had manufactured an emergency for its
Two United States lawmakers, Warren Davidson and Tom Emmer, introduced a new bill on June 12, named “the SEC Stabilization Act,” with the aim of restructuring the United States Securities and Exchange Commission and removing its current chairman, Gary Gensler. The lawmakers stated that the bill would change the current structure of the financial regulator,
Binance.US has hired four lawyers, including George Canellos, a former co-director of the US Securities and Exchange Commission (SEC) enforcement division, to fight recent charges brought by the regulator. Canellos, who is now a partner at Milbank LLP, has served as a director of the SEC’s New York Regional Office and as acting director and
The total market capitalization of cryptocurrencies has been in a downward trend for the past eight weeks, reaching its lowest level in over two months at $1.06 trillion. The decline was mainly driven by several altcoins that plunged over 15%, including BNB, Cardano, Solana, Polygon, and Polkadot. This article explores the current market situation and