US lawmakers from both political parties have introduced a bipartisan bill called the Power of the Mint Act to block the Federal Reserve from issuing a central bank digital currency (CBDC). The bill was introduced by Republican Representative French Hill of Arkansas and Democratic Representative Jake Auchincloss of Massachusetts. Hill stated that it was the
Ripple, the blockchain-based payments platform, has appointed Warren Jenson as the new Chief Financial Officer (CFO) to its board of directors. Jenson, who is also the CFO of market researcher Nielsen, will lead Ripple’s audit committee and oversee the auditing process of Ripple’s operations. The announcement came in a press release by the crypto firm
Westpac, the oldest bank in Australia, has banned cryptocurrency transactions to certain exchanges as part of a trial to reduce scam losses. The bank said that investment scams constitute a significant proportion of scam losses, with one-third of all scam payments transferred to cryptocurrency exchanges. The Australian Competition and Consumer Commission’s Scamwatch also reported that
Navigating the complex world of cryptocurrency can be a daunting task, especially for retail traders trying to keep up with the rapidly changing market trends. However, yPredict, an AI-backed crypto signals firm, has announced a fundraising campaign that has broken the $1 million threshold, and it is preparing to launch a next-generation platform that could
The meme coin scene has been on the rise, and Copium ($COPIUM) is the latest entrant to join the frenzy. Copium made a grand entrance on Uniswap and within five hours of its listing, the value of the token soared to $0.0162, marking an 800% surge from its initial price. Although the price has since
South Korea’s Justice Ministry has denied allegations that its officials hold cryptoassets. The media outlet Newsis had reported that Democratic Party MP Park Chan-dae had claimed that the Justice Minister Han Dong-hoon had “refused to disclose whether he owned cryptocurrency,” claiming that this information was “private and personal information.” The Ministry’s Response The Justice Ministry
U.S. Representative Tom Emmer has introduced a new bill, the Securities Clarity Act, to provide more clarity on the classification of digital assets and to specify the jurisdiction of each regulator. The bill would amend the securities laws to include “investment contracts asset” and enable crypto projects to operate in a compliant manner. Emmer believes
American fintech company Ripple has acquired Switzerland-based blockchain firm Metaco for $250 million. This marks Ripple’s entry into the asset tokenization field. The acquisition is expected to help Ripple expand its enterprise offerings, particularly in international markets. Ripple plans to provide customers with the technology to custody, issue, and settle any type of tokenized asset.
The cryptocurrency industry has seen a rise in the liquidation of industry-leading cryptocurrency platforms and institutions, with Voyager Digital and Bittrex being the latest addition. Renowned crypto broker Voyager Digital filed for Chapter 11 bankruptcy protection on July 6th, 2022, becoming one of the casualties of chaos in the digital financial markets. The legal filing
The Economic and Financial Affairs Council of the European Union has given the Markets in Crypto Assets (MiCA) regulation the final green light. The council, which is made up of finance ministers from all 27 member states, unanimously adopted the regulation on May 16th following the final parliamentary vote on April 20th. Two additional legislations