Goldman Sachs has offered its first Bitcoin-backed loan, in a major step forward for institutional cryptocurrency adoption on Wall St. A spokeswoman from Goldman told Bloomberg that the multinational investment bank had lent cash collateralized by Bitcoin (BTC) owned by the borrower for the first time in Goldman Sachs’ history. She added that the deal…
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As Singapore continues to play an active role in boosting crypto adoption across the Asia-Pacific region, the country’s first licensed crypto exchange Independent Reserve conducted a retail-focused survey to better understand the underlying potential of the regulated market. Independent Reserve’s survey — conducted across all age groups and genders of the Singapore population — revealed…
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In a letter published on Thursday, the New York State Department of Financial Services, or NYDFS, recommended that all virtual currency companies operating under New York banking law adopt blockchain analytics to trace transactions. In supporting the decision, the regulatory agency wrote: “Wallet addresses are typically pseudonymous, with nothing on the face of the transfer…
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Mishi Choudhary, the legal director of the Software Freedom Law Center, supported the efforts of some United States lawmakers to develop an electronic version of the U.S. dollar. In written testimony for a Thursday hearing of the House Financial Services Committee on digital wallets, Choudhary said the United States needed “a currency or electronic token…
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Former Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo, known by some as Crypto Dad during his tenure from 2017 to 2019, spoke on the topic of U.S. crypto regulation at the Crypto Bahamas conference on Thursday. He called the current U.S. regulations, many of which were written in the 1930s, “nonapplicable” to the current…
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The cryptocurrency market has experienced another rollercoaster week that saw Ether price drop below $3,000 and Bitcoin price hit a new multi-month low at $37,700. Equities markets also endured a sharp sell-off primarily due to investor fear over potential changes to the size of the Federal Reserve’s next rate hike. To date, Bitcoin price 41.72%…
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Lawmakers in Panama have passed a bill that will regulate cryptocurrencies, including Bitcoin, in the Latin American country. In a Thursday tweet, Panamanian pro-crypto congressperson Gabriel Silva said lawmakers had approved the “Panama Crypto Law” following a third debate. According to Silva, the law will “help Panama become a hub of innovation and technology in…
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Him Das, the acting director of the United States Financial Crimes Enforcement Network, or FinCEN, said some of the government bureau’s tools to fight money laundering and terrorism financing may be ill suited for crypto. In a Thursday hearing of the House Financial Services Committee on “Oversight of the Financial Crimes Enforcement Network,” Das addressed…
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Bitcoin (BTC) is facing calls for a significant price dip this week, and while some favor $30,000, there may be a safer bottom to long BTC. In a tweet on April 28, on-chain analysis platform Whalemap used whale support to determine where “many” investors should enter the market. Should hodlers hope for “max pain”? With…
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The capital of Argentina and an agglomeration with more than 12 million citizens, Buenos Aires will make blockchain a vital part of its digitalization drive. Specifically, the city will accept public financial transactions in crypto. As city Mayor Horacio Rodríguez Larreta revealed in his Steve Jobs-styled presentation on April 25, the 12-step development plan titled…
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