In less than a day, Bitcoin (BTC) has shed nearly all the gains it made from Grayscale Investment’s court victory against the United States Securities regulator. On Aug. 29 Bitcoin popped to a two-week high after a judge ruled that the Securities and Exchange Commission was “arbitrary and capricious” when it rejected Grayscale’s spot Bitcoin…
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There are hopes that the United States could see a new crypto resurgence after several rulings this year have seen court judges “rein in the SEC,” according to a digital asset lawyer from K&L Gates. On Aug. 31, Jeremy McLaughlin, a partner at the global law firm, noted that multiple U.S. court cases have stomped…
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‘Global economic reset’ could push Bitcoin to 2020 levels A potential “global economic reset” could see the price of Bitcoin (BTC) pushed down to a level not seen since mid-2020, according to Bloomberg Intelligence senior macro strategist Mike McGlone. On Aug. 25, McGlone spoke to Kitco News suggesting that troubling economic indicators from China reportedly…
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Thailand is planning to seek a court-issued shutdown order against Facebook unless it takes steps to deal with alleged investment and crypto scam ads on its platform. On Aug. 21, the Ministry of Digital Economy and Society (MDES) stated over 200,000 people had been duped by Facebook ads that touted crypto scams, investing in fake…
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China is reportedly looking to implement a system akin to its social credit system, but in the Metaverse and other online virtual worlds. Proposals viewed by POLITICO and reported on Aug. 20 show the state-owned telco China Mobile proposed a digital ID for all metaverse and online virtual world users that work with “natural characteristics”…
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Australia-based crypto lender Helio Lending has been sentenced to a non-conviction good behavior bond for a year for falsely claiming it had a local credit license. On Aug. 17, the Australian Securities and Investments Commission (ASIC) said Helio was sentenced to the good-behavior bond for a year, having to pay $9,600 (15,000 Australian dollars) if…
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Derivatives marketplace CME Group is launching Bitcoin (BTC) and Ether (ETH) reference rates for the Asia Pacific region, in another sign of growing institutional interest in crypto from Asia. On Aug. 16, derivatives marketplace CME Group said it’s partnered with crypto indices provider CF Benchmarks and on Sept. 11 to launch the two Asia Pacific-focused…
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Singapore’s central bank has released a revised regulatory framework aimed at ensuring stability for single-currency stablecoins (SCS) regulated in the city-state. The Monetary Authority of Singapore announced the framework on Aug. 15 which is aimed at non-bank issued stablecoins pegged to the value of the Singapore dollar or G10 currencies such as the euro, British…
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Binance has asked a court for a protective order against the Securities and Exchange Commission (SEC) over what the crypto exchange claims is a “fishing expedition” from the regulator. In an Aug. 14 court filing, Binance put forward a motion for a protective order following deposition notices and discovery requests from the SEC. “BAM has…
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Crypto-assets and their related activities present key risks to the United States banking system and warrant closer supervision, warns a leading U.S. financial regulator. For the first time, cryptocurrency was given a dedicated section in the Federal Deposit Insurance Corporation’s (FDIC) annual risk review, calling digital asset risks “novel and complex.” The Aug. 14 Risk…
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