Bitcoin (BTC) stands at the start of a “new regime” after its early 2023 price gains, and next year will prove pivotal. That is the opinion of Charles Edwards, founder of quantitative Bitcoin and digital asset fund, Capriole Investments. As investment behavior around Bitcoin recovers in line with network fundamentals and price action, Edwards, perhaps like…
Read more
Australian residents have been identified as one the primary targets of a sophisticated network of cryptocurrency call-center scammers — which are suspected to be run by Israel-based crime bosses. Evidence uncovered after a full-scale raid of four Serbian call centers and 11 residences by Serbian, German, Bulgarian and Cypriot authorities found that Australians were among the…
Read more
A former facilities worker who allegedly set up a secret cryptocurrency mining operation inside a Massachusetts school’s crawl space is due for arrest after missing a scheduled court hearing to answer to charges. Nadeam Nahas was scheduled to be arraigned on Feb. 23 facing charges of vandalizing a school and fraudulent use of electricity, according…
Read more
A cryptocurrency mining rights bill with laws that would prohibit the discrimination of crypto miners is one step closer to fruition after passing the Montana Senate. The proposed laws would enshrine a “right to mine digital assets” and would prohibit “discriminatory” electricity rates being charged to crypto miners, protect mining that occurs “at home” and…
Read more
The United States Securities and Exchange Commission is not the appropriate agency to regulate stablecoins, according to Circle founder and CEO Jeremy Allaire. In an interview with Bloomberg on Feb. 24, the Circle chief executive aired his views on the SEC and its recent moves to clamp down on the crypto industry, including stablecoin issuer Paxos.…
Read more
Jack Dorsey’s payment company Block Inc. reported $1.83 billion of Bitcoin (BTC) revenue from its Cash App business unit in the fourth quarter, representing a 7% fall from the same time last year. In its Q4 and full-year results announced on Feb. 23, Block attributed the fall in Bitcoin revenue to the decline in BTC price…
Read more
Our weekly roundup of news from East Asia curates the industry’s most important developments. Hong Kong moves bullish On Feb. 20, the Securities and Futures Commission (SFC) of Hong Kong launched a consultation on its proposed regulatory requirements for digital asset trading platforms. The SFC requires the licensing of all cryptocurrency exchanges operating in Hong…
Read more
The United States Federal Reserve has denied a request from cryptocurrency bank Custodia Bank to reconsider its membership application to the Federal Reserve System. The Fed announced its denial on Feb. 23 saying the Federal Reserve Board previously decided that Custodia’s application “was inconsistent with the required factors under the law.” @federalreserve announces it has…
Read more
The executive board of the International Monetary Fund (IMF) has assessed a paper on crypto asset policy published by the fund and expressed its agreement with its proposed policy framework. The paper, titled “Elements of Effective Policies for Crypto Assets,” developed a framework of nine policy principles that addressed macrofinancial, legal and regulatory, and international coordination…
Read more
Bitcoin’s (BTC) 16% price gain between Feb. 13 and Feb. 16 practically extinguished the bears’ expectation for a monthly options expiry below $21,500. As a result of the abrupt rally, these bearish bets are unlikely to pay off, especially since the expiry occurs on Feb. 24. However, bulls were not counting on the strong price…
Read more