United States Commodity Futures Trading Commission (CFTC) commissioner Kristin N. Johnson was named the sponsor of the agency’s Market Risk Advisory Committee (MRAC) on Tuesday. She replaced CFTC chair Rostin Behnam in that role. Johnson was nominated to be a CFTC commissioner by U.S. President Joe Biden in September 2021, concurrent to the nominations of…
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There are early signs of the “dust settling” in the crypto market now that investors believe that the worst of the Terra (LUNA) collapse looks to be over. Viewing Bitcoin’s chart indicates that while the fallout was widespread and quite devastating for altcoins, BItcoin (BTC) has actually held up fairly well. Even with the May 12…
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Central bank governors and finance ministers from the Group of Seven, or G7, are reportedly planning to discuss the regulation of cryptocurrencies. According to a Tuesday report from Reuters, Bank of France Governor François Villeroy de Galhau said representatives from the United States, Canada, Japan, Germany, France, Italy and the United Kingdom will likely speak…
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The tiny Portuguese island of Madeira has “adopted” Bitcoin (BTC) — but what does that mean? The announcement made during the Bitcoin Miami Conference in 2022 has spurned confusion and misinformation. The President of the Regional Government of Madeira, Miguel Albuquerque, hopped onto the stage in April to announce that he believes in the “future…
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The dramatic fall of Terra (LUNA) along with the algorithmic stablecoin UST has been a major talking point among the crypto industry. And now South Korean conservative party has requested a parliamentary hearing on the matter. Korea’s conservative party requested to have a hearing about the Terra incident. The politician noted Korean exchanges each reacted…
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Global crypto derivatives exchange BitMEX is expanding its platform beyond just derivatives by finally launching a spot crypto trading platform. BitMEX officially announced on May 17 that its spot crypto exchange, the BitMEX Spot Exchange, is now live, allowing retail and institutional investors to buy, sell and trade cryptocurrencies like Bitcoin (BTC) and Ether (ETH).…
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The United States Department of Justice, State and the Treasury issued a joint advisery warning against the influx of North Korean workers in various freelance tech jobs, especially in the crypto industry The public advisory was released on Friday, highlighting the critical red flags and identifiers for private firms to avoid hiring North Korean workers.…
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This week, 44 central bankers from developing countries around the world are attending a conference in El Salvador to discuss financial inclusion, financing for small and medium-sized businesses, and Bitcoin (BTC). Central bank delegates from Ghana to Burundi, Jordan to the Maldives and Pakistan to Costa Rica arrived in San Salvador for the conference upon…
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The Congressional Research Service (CRS), a legislative agency that supports the United States Congress, has published a document that contains a rundown on algorithmic stablecoins and points out key factors to look at in the TerraUSD (UST) crash. In the report, the CRS described the UST crash as a “run-like” scenario and posited that there are…
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This week will be remembered as the one when the stablecoins showed an unexpected ability to depeg. Terra’s TerraUSD (UST) dropped to a shocking $0.29 following the general meltdown of both crypto and financial markets, but it was also the headliner of stablecoins’ niche, while Tether (USDT) lost the balance and slid to $0.96 for…
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