Terraform Labs co-founder Do Kwon has requested a United States district judge to reject the securities and fraud suit from the federal securities regulator, claiming it has failed to prove they did anything wrong. In an Oct. 27 filing to a New York District Court, lawyers for Kwon and Terraform argued its cryptocurrencies Terra Luna…
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Gary Gensler once criticized the United States securities regulator for its “inconsistent” approach to spot Bitcoin (BTC) products, according to a resurfaced video of Gensler from 2019. The video clip, which has recently made the rounds again on social media, shows the pre-SEC Gensler discussing blockchain regulation at the 2019 MIT Bitcoin Expo in a…
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Crypto-promoting firms have breached the United Kingdom’s new crypto marketing rules at least 221 times since coming into force in early October, says the country’s financial regulator. In an Oct. 25 statement, the U.K. Financial Conduct Authority (FCA) said since the Oct. 8 crypto promotion rules came into place, firms are still failing to provide…
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Crypto investment products have recorded four weeks of inflows, as the market eagerly awaits the possible approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States. Asset management firm CoinShares’ Oct. 23 fund flows report revealed $179 million was added to digital asset investment products in the week ending Oct. 20, which…
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Pro-Bitcoin (BTC) presidential candidate Javier Milei failed to secure victory in the first round of the Argentine presidential election and is now set to face off against economy minister Sergio Massa in a Nov. 19 run-off vote. On Oct. 23, election results provided by Bloomberg show with over 90% of the vote counted — Massa…
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Low-power wearable technology, including virtual and augmented reality devices crucial to the metaverse, will be permitted to tap into the 6 GHz frequency band following a rule change from the United States communications regulator. In an Oct. 19 press release, the Federal Communications Commission said it opened up the 6 GHz frequency band to “very…
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Electric vehicle maker Tesla made no changes to its sizeable Bitcoin (BTC) holdings — the fifth quarter in a row — though it has directed more funds to double its computing capacity amid artificial intelligence efforts. Tesla’s Q3 2023 results released on Oct. 18 show as of Sept. 30, it held $184 million worth of…
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A Pennsylvania House Representative has cut a two-year crypto mining ban from their bill to regulate the sector’s energy consumption claiming trade labor unions pressured the change. On Oct. 16, the Pennsylvania House Environmental Resources and Energy Committee passed the Cryptocurrency Energy Conservation Act by a slim margin — 13 for and 12 against —…
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The Singapore entity for Upbit, South Korea’s largest exchange by volume, has been given in-principal approval for a Major Payment Institution (MPI) license in Singapore. On Oct. 16, Upbit Singapore said the Monetary Authority of Singapore (MAS) gave the in-principle license nod, allowing it to continue with digital payment token services to institutional investors while…
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The United States Securities and Exchange Commission will soon reach its deadline to appeal the court decision that ruled in favor of Grayscale Investments, forcing the regulator to review the fund manager’s application for a spot Bitcoin (BTC) fund. While many observers don’t believe the securities regulator will attempt to appeal the court’s decision, analysts…
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