Luxembourg, a small country in Western Europe, has initiated a market study on Web3 and blockchain-based firms. The study aims to explore the relationship between blockchain-based products and services and existing digital companies (Web2 firms). The regulator, Autorité de la Concurrence, recognizes the potential of blockchain technology in the future economy and wants to ensure
Democratic Senators Elizabeth Warren and Chris Van Hollen have called for an investigation by the US Department of Justice (DOJ) into Binance and Binance.US’s previous statements made to Congress. In March 2023, Binance wrote a letter to Congress stating that its global and US companies were separate entities and that Binance.US was highly compliant with
Bitcoin’s price has lost steam due to the failed retest of the $27,400 resistance on June 6, indicating that investors are less confident after the regulatory actions against Binance and Coinbase by the United States Securities and Exchange Commission (SEC). Both exchanges are being sued on multiple counts, including failure to register as licensed brokers
According to the Brazilian media outlet Livecoins, the adoption of crypto credit cards is on the rise in Brazil. It has been reported that more Latin Americans than ever before are buying and spending tokens, with Brazilians using coins to pay in stores instead of fiat. Binance’s Brazilian head, Guilherme Nazar, stated that cards such
US Bankruptcy Judge Sean Lane has ruled that FTX will not be allowed to participate in the mediation between Genesis Global, a now-bankrupt crypto lender, and its parent company, Digital Currency Group (DCG), owned by Barry Silbert. Genesis and its major creditors, along with DCG, aim to create a revised payout proposal that will serve
Hong Kong-based Animoca Brands remains unfazed by the Securities and Exchange Commission’s (SEC) recent characterization of the SAND cryptocurrency as a security in its complaints against Binance.US and Coinbase, according to South China Morning Post. Animoca co-founder and chairman Yat Siu stated that the company operates globally and is not overly concerned with what happens
Bitcoin (BTC) managed to recover some of its lost ground after the June 6 Wall Street opening despite new legal action from United States regulators. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD has been rebounding and reached $26,250 on Bitstamp. It had earlier dipped to almost three-month lows of $25,350 after news
Rostin Behnam, Chair of the US Commodity Futures Trading Commission (CFTC), has refuted claims that his agency would be a “light touch regulator” for cryptocurrency. Speaking at a House Agriculture Committee hearing, Behnam was asked about opinions that the CFTC is seen as taking a lighter touch when it comes to regulating the crypto industry.
In today’s constantly evolving financial world, new technologies like cryptocurrencies, blockchain, and decentralization have disrupted traditional concepts of value, investment, and ownership. While these innovations offer exciting possibilities for reimagining finance, they also present significant challenges. The sophisticated platforms built on these technologies can be difficult to navigate, especially for those without technical expertise. This
The U.S. Securities and Exchange Commission (SEC) has filed a motion requesting a restraining order against Binance.US on June 6. The SEC’s request specifically asks the court to freeze the assets of Binance.US’s parent companies, which are collectively operating under the name BAM. The regulator’s motion also seeks to have Binance.US funds returned to customers