Crypto industry advocacy bodies have slammed a newly proposed United States Senate bill for what they say is a confused approach to regulating the decentralized finance (DeFi) sector. On July 20, crypto think tank Coin Center and crypto advocacy group the Blockchain Association released separate statements describing the legislation as a “messy,” “unworkable,” and “unconstitutional”…
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For the fourth quarter in a row, Tesla hasn’t sold or added to its digital asset holdings with the electric vehicle manufacturer continuing to hold $184 million worth of its remaining Bitcoin (BTC). In Q2 2023 earnings released on July 19 the net value of Tesla’s Bitcoin holdings stood at $184 million which has held…
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Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin (BTC) if he is elected president. Speaking at a July 19 Heal-the-Divide PAC event, Kennedy claimed that backing the U.S. dollar with what he called “hard currency,” including gold, silver, platinum or Bitcoin, could help to re-stabilize…
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Cathie Wood, the founder and CEO of ARK Investment Management, said she remains bullish over Coinbase in light of Ripple’s partial victory over the Securities and Exchange Commission on July 13. While Wood noted the ruling wasn’t in outright favor of Ripple, she lauded the outcome as “by and large, very positive for [crypto] exchanges.”…
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Ripple (XRP) has now become the fourth largest cryptocurrency by market capitalization after Ripple Labs’ partial victory over the Securities and Exchange Commission (SEC) on July 13. Mere hours after the ruling, XRP market cap surged a whopping $21.2 billion to reach a new yearly high of $46.1 billion, pushing it up from the 7th position…
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Crypto mining firm Hive Blockchain is now calling itself Hive Digital Technologies — after enacting a branding pivot that seeks to highlight its foray into artificial intelligence. The Vancour-based mining company said in a July 12 statement it has dropped “blockchain” from its name to better represent the company’s “evolving focus” on revenue opportunities in…
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Prosecutors from the United States and agents from the Internal Revenue Service (IRS) are reportedly investigating wealthy crypto traders and fund managers suspected of illegally benefiting from Puerto Rico’s tax breaks. According to a June 12 report from Bloomberg, investigators are currently building civil and criminal cases against a number of hedge fund managers, crypto…
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Crypto investment firm Paradigm’s Special Counsel Rodrigo Seira has become the latest to slam the United States securities regulator, this time for “wrongfully” pursuing crypto exchange Bittrex in an attempt to police secondary crypto markets. In a July 11 Twitter thread, Seira added his thoughts after an amicus brief filing from Paradigm, arguing that the…
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The upcoming Bitcoin (BTC) halving is set to blow fresh wind in the sails of Bitcoin-focused stocks such as Michael Saylor founded tech firm MicroStrategy. In a research note shared with Cointelegraph, New York-based investment firm Berenberg Capital Markets explained its reasons for a bullish outlook on MicroStrategy (MSTR), which Berenberg has given a $430…
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Stablecoin use could be “stifled” by daily transaction caps in the European Union’s Markets in Crypto-Assets (MiCA) legislation, with some calling for the framework to be revised. On May 31, MiCA was signed into law which paved the way for the world’s first regulatory guidance on cryptocurrencies to come into effect. The legislation was received…
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