Crypto exchange Binance and its co-founder Changpeng Zhao (CZ) have requested the dismissal of the lawsuit filed by the United States Commodities and Futures Trading Commission (CFTC) on Thursday, July 27. The legal representatives of Binance and Zhao submitted the motion for the lawsuit’s dismissal in the Chicago court. In their recent court filing, the…
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Bankrupt crypto exchange FTX and crypto lender Genesis have reached an agreement in principle to resolve the claims brought by FTX in its bankruptcy case. On July 27, legal counsels for both firms sent a letter to bankruptcy Judge Sean Lane stating that they had agreed to a settlement. However, the agreement was in principle…
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Public companies in the United States, including listed crypto firms, will be required to disclose any major cybersecurity incidents within a four-day time limit under new rules adopted by the United States securities regulator. The rules from the United States Securities and Exchange Commission require any public company to disclose a cyberattack within four days of it…
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The House Financial Services Committee has advanced another two landmark crypto bills previously under consideration — with one aiming to better regulate stablecoin issuers and another seen as positive for crypto self-custody in the United States. On July 28 the Committee said the Clarity for Payment Stablecoins Act and the Keep Your Coins Act were…
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Crypto fund manager Grayscale is urging the Securities and Exchange Commission (SEC) to approve all proposed spot Bitcoin (BTC) exchange-traded funds (ETFs) at the same time to avoid one having an advantage. A July 27 post by Grayscale chief legal officer Craig Salm said its legal team submitted a letter regarding eight spot Bitcoin ETF…
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The upcoming $2 billion Bitcoin (BTC) monthly options expiry on July 28 could potentially establish $29,500 as a support level. Some argue that the recent U.S. Federal Reserve interest rate increase to 5.25% had a detrimental effect on risk-on assets like cryptocurrencies. However, Bitcoin bulls believe that the full impact of a tighter economic policy…
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Paul Munter, chief accountant of the United States Securities and Exchange Commission (SEC), has released a statement warning accounting firms of their obligations to the agency when working with crypto firms. Allowing their finding to be misrepresented could have serious consequences, he said. Crypto firms may engage accountants to “perform some sort of review…
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Tact was pervasive in the United States House of Representatives Agricultural Committee’s consideration of the Financial Innovation and Technology for the 21st Century Act on July 27. With many references to bipartisanship and self-congratulatory mentions of the members’ cooperation and hard work, the committee plowed through a series of amendments calmly and quickly. The bill,…
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Stablecoins cannot be compared to bank deposits in terms of risk, argues a new policy paper authored by former Federal Reserve Board analyst Brendan Malone on behalf of technology investment firm Paradigm. The document explores the risks stablecoins pose to the financial system, noting that current legislative proposals in the United States could incorporate crypto payment instruments…
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Bitcoin (BTC) ate away at the prior day’s gains on July 27 as United States macroeconomic data produced a muted reaction. BTC/USD 1-hour chart. Source: TradingView Analyst warns of BTC price dip Data from Cointelegraph Markets Pro and TradingView showed BTC price strength waning after a brief push to $29,680 into the daily close. The…
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