Jeremy Allaire, the CEO of Circle, has published a blog post on June 12th detailing his prepared remarks for his upcoming testimony before Congress regarding draft stablecoin regulation. Allaire believes that the stablecoin bill is a crucial piece of legislation that should be the first step in creating a regulatory framework that builds the conditions
Leaders of the crypto and fintech industry groups from Russia and Iran have recently discussed the potential use of tokens to evade sanctions and facilitate trade between the two countries. This conversation took place during a panel discussion on crypto adoption at the International Exhibition of Financial Industries in Tehran. The panel included Iranian government
Brian Armstrong, the CEO of Coinbase, has called for regulatory clarity in the US crypto industry. Speaking to The Wall Street Journal, Armstrong stated that there is an ongoing power struggle between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and Coinbase has been “caught in the middle” of this
eToro, a trading platform that provides access to both stock and cryptocurrency markets, has announced that it will restrict access to certain cryptocurrency positions for US users. The decision comes as a result of regulatory concerns in a rapidly evolving landscape. Details of the Restriction According to an email shared with CryptoSlate on June 12,
On Monday, House Republicans introduced a bill that would remove Gary Gensler, the current US Securities and Exchange Commission (SEC) Chair, and restructure the agency. The SEC Stabilization Act was introduced by Reps. Tom Emmer and Warren Davidson. Reason for the Bill According to a statement from House Majority Whip Emmer’s office, the bill aims
According to data from CryptoCompare, Bitcoin (BTC) is trading at a premium of over 1% on Binance.US. The exchange’s USD trading volume has dropped to new lows after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance. Despite this, BTC was trading above $26,000 on Binance.US, surpassing the prices of major rivals
On-chain data shows that Bitcoin miners are offloading their holdings, with miners sending a significant amount of coins to exchanges. This trend could be due to reduced earnings from a cooldown in Ordinals activity and the mining difficulty and hash rate reaching an all-time high. Glassnode, an on-chain analytics firm, reported that Bitcoin miners’ inflows
Artificial intelligence (AI) has been making significant strides in the last six months, with the release of OpenAI’s generative AI chatbot, ChatGPT. The chatbot quickly became the fastest platform to reach 100 million users, impressing users with its ability to process information, problem-solve, and generate human-like responses to queries. The release of ChatGPT has sparked
Coinbase shares have been deemed “uninvestable” in the short term due to the ongoing lawsuit filed by the Securities and Exchange Commission (SEC), according to a research report by Berenberg Capital. The report notes that the expected decline in second-quarter trading volumes on Coinbase had already been anticipated prior to the lawsuit. However, the legal
Robinhood, the US-based digital trading app, has announced that it will no longer support three major cryptocurrencies on its platform. The company has advised its users to sell or transfer their holdings before the deadline of June 27, after which the tokens will be automatically sold and converted to buying power on the app. Reason