Rostin Benham, the Chairman of the Commodity Futures Trading Commission (CFTC), stated in an interview with Bloomberg’s Odd Lots podcast on May 18 that the agency does not have the legal authority to regulate cash crypto markets. Benham mentioned that the CFTC only has a limited authority to police cash markets if there is fraud
Cloak Protocol is a new cryptocurrency platform that aims to provide complete decentralization, anonymity, security, and privacy to its users. It is a DeFi (decentralized finance) platform that offers a decentralized ecosystem with zero-knowledge proof protocols to protect users’ data and identity while completing transactions. Features and Use Cases Cloak Protocol is built on the
The Texas legislature has passed a bill that requires cryptocurrency exchanges to provide a “proof of reserves.” This move is the latest by the state to regulate the digital asset industry. Details of the Bill The bill, known as HB-1666, was co-sponsored by state Republicans Rep. Giovanni Capriglione and Sen. Tan Parker. It applies to
Bitcoin has reached a significant milestone this month with over 1 million addresses holding at least 1 BTC, according to on-chain analytics firm Glassnode. These addresses are referred to as “wholecoiners” as they hold a whole Bitcoin. Glassnode data shows that these “wholecoiners” have been steadily accruing since mid-2021, and the upward trend in 1-BTC
The US Department of Justice (DOJ) has charged a Nevada man, Bryan Lee, for his involvement in a cryptocurrency scheme called CoinDeal. Lee was accused of conspiring with Neil Chandran, the leader of CoinDeal, to defraud investors through Chandran’s companies. The Scheme Chandran’s companies, including ViMarket, claimed to be developing virtual reality (VR) and “metaverse”
The head of the Financial Action Task Force (FATF), T Raja Kumar, has called on G7 nations to take a more proactive approach to regulating the crypto industry. Kumar made the call in a letter published ahead of the G7’s 2023 Summit, where the group will discuss the regulation of cryptocurrencies and the overall industry.
After the recent controversy surrounding Ledger, a hardware wallet specialist, competitors have taken the opportunity to address the concerns expressed by some users. One such competitor is Trezor, a hardware producer, who aims to capitalize on Ledger’s troubles by offering a discount to buyers. Trezor’s website boldly promotes “Open Source security you can verify” and
Web3 is the new frontier of digital innovation, combining decentralized finance, play-to-earn gaming, NFTs, and metaverse experiences to revolutionize the internet. Launchpad XYZ is an all-in-one platform that streamlines the often fragmented web3 space, making it easier to navigate the digital future. Launchpad XYZ is currently in the presale stage for its utility token, $LPX,
On May 18, the Digital Assets Financial Technology Inclusion Committee held a hearing to discuss stablecoin policy. The committee aims to pass legislation supporting stablecoins as a recognized payment method. The meeting was opened by Congressman French Hill. He highlighted the need to pass the appropriate regulatory framework to allow stablecoins to be used as
The Office of the New York Attorney General took action against Coin Cafe, a crypto company that charged extremely high fees to wallet users. The company advertised its wallet service as free and did not inform users of its actual fee structure, resulting in New York residents being charged tens of thousands of dollars in