Australian investors will be left exposed to unregulated markets and investments will be driven away from the country if the Digital Assets (Market Regulation) Bill is rejected by parliament, the bill’s author Senator Andrew Bragg has warned. On Sept. 4, the Senate Committee on Economics Legislation recommended the Senate reject Bragg’s bill and suggested the…
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The United States Financial Accounting Standards Board’s new rules for crypto accounting will eliminate the “poor optics” that plagued companies holding digital assets, according to analysts from Berenberg Capital. On Sept. 6, the U.S. Financial Accounting Standards Board (FASB) approved new rules for cryptocurrencies with regard to how companies report the fair value of their…
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The United States’ legal system is set to bring the crypto industry “back in the game” after the Biden administration “screwed up” its crypto policy, says Ripple Labs chair and co-founder Chris Larsen. Speaking to Bloomberg on Sep. 7 about his firm’s July partial win against the Securities and Exchange Commission, Larsen argued the regulator…
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The race for the United States’ first spot Ethereum exchange-traded fund has officially begun after new 19b-4 filings by the Chicago Board Options Exchange (CBOE), which will “ultimately start the clock” for an SEC decision. On Sept. 6, the CBOE filed two 19b-4 applications to the United States securities regulator, requesting for the ARK 21Shares Ethereum…
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Bankrupt crypto lender Celsius Network has filed a complaint against lending firm EquitiesFirst Holdings in a bid to recoup assets. According to a sealed adversary complaint filed on Sept. 6, Celsius is seeking injunctive relief and a declaratory judgment associated with the “recovery of money/property” — according to the title of the docket. The filing…
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The Financial Accounting Standards Board (FASB) has unanimously approved rules for accounting for the fair value of companies’ cryptocurrency holdings, according to media reports. The rules will go into effect in 2025. The FASB is the United States organization that sets accounting and reporting standards for organizations that follow U.S. Generally Accepted Accounting Principles (GAAP).…
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The sharp increase in global interest rates may have limited investors’ appetite for crypto ventures, but new projects are still flourishing and attracting capital to speed up growth. Data from the Cointelegraph Research Venture Capital Database shows June closed out with a 29.73% decrease in venture capital investments, with just $779.32 million secured in 62…
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Blockchain analytics platform Arkham Intelligence claims to have identified the addresses of the Grayscale Bitcoin Trust. The trust consists of more than 1,750 addresses holding a total of over $16 billion worth of Bitcoin (BTC), according to a Sept. 6 thread on X (formerly Twitter). Arkham claimed that Grayscale is “the 2nd largest BTC entity…
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Bitcoin (BTC) price action suggests that the asset remains in a precarious position and a recent report from ARK Invest said that short-term Bitcoin investors had no choice but to capitulate in August as the percentage of Bitcoin supply in profit fell by 14 percentage points. Bitcoin market sentiment and monthly valuation change in August.…
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Former FTX CEO Sam Bankman-Fried, also known as SBF, lost an initial appeal to return to being free on bail prior to his criminal trial. In a Sept. 6 filing in the United States Court of Appeals for the Second Circuit, Clerk of the Court Catherine O’Hagan Wolfe said a circuit judge had denied a…
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