The U.S. Securities and Exchange Commission (SEC) has responded to Coinbase’s motion to dismiss its case for violating securities laws. The government agency filed a 40-page opposition motion on October 3, CourtListener records show, requesting that the court deny Coinbase’s motion “in its entirety.” In June this year, the SEC charged the leading U.S. crypto exchange with illegally offering securities…
The Bank of International Settlements (BIS) has developed a proof of concept (PoC) for a system tracking on-chain and off-chain transactions from cryptocurrency exchanges and public blockchains including Bitcoin. Working with the Deutsche Bundesbank, De Nederlandsche Bank, European Central Bank and the Bank of France, BIS has announced a successful PoC called Project Atlas that aims to gauge the macroeconomic…
On Tuesday, the U.S. Department of Justice (DOJ) announced eight indictments against companies based in China and their employees, who are believed to be connected to the production and distribution of fentanyl—a synthetic opioid that is 50 to 100 times more potent than morphine. The DOJ’s brief also indicates that these companies may have used crypto to manage the finances…
South Korea joins a growing number of nations researching central bank digital currencies (CBDCs). The Bank of Korea (BOK) will launch the pilot project, exploring the technical infrastructure for a digital currency. The joint announcement of the CBDC pilot by the BOK, the Financial Services Commission (FSC), and the Financial Supervisory Service (FSS) was published on Oct.4. According to the…
The United States Department of Justice filed a court motion on Oct. 4 claiming the lack of crypto regulations in the U.S. is no bar to the criminal charges filed against the former CEO Sam Bankman-Fried of now-bankrupt crypto exchange FTX. The U.S. DOJ’s letter was filed in response to the defendant’s request for clarification and reconsideration of charges related…
Bitcoin (BTC) flipping full bull could come courtesy of the United States government, a new prediction says. In an X thread on Oct. 4, Arthur Hayes, former CEO of crypto exchange BitMEX, eyed ballooning yields as precursor to a new Bitcoin and crypto bull market. Hayes: Bitcoin bulls should eye U.S. “no way out” moment U.S. treasury yields are “screaming…
The global blockchain finance market — encompassing public and private blockchains, trading, payments, settlements and asset management — is well-positioned to grow into a $79.3B market by 2032. A report by Allied Market Research revealed that the blockchain finance market players are heavily exploring collaborations and acquisitions as a top strategy. COVID-19 pandemic-induced disruptions in traditional finance, coupled with the…
The representatives of Banque de France have embraced the global perspective on the central bank digital currency (CBDC) discussion, touting it as a foundation of the new international monetary system. Published on Oct.3, the speech of Denis Beau, First Deputy Governor at Banque de France, calls the CBDC “the catalyst for improving cross-border payments by enabling the build-up of a…
XRP, the native token of the Ripple protocol, is up nearly 4% over the past 24 hours, trading at $0.528 at the time of writing. This is despite XRP slightly backtracking from a recent high of $0.545 set last night, data from CoinGecko shows. This makes the crypto industry’s fifth-largest asset by market cap the best-performing asset among the top…
The United States District Court for the Southern District of New York is progressing with the sentencing procedure of key individuals behind the cryptocurrency Ponzi scheme AirBit Club. The office of the U.S. attorney for New York on Oct. 3 announced the sentencing of three of the five surviving defendants in the AirBit case, including Scott Hughes, Cecilia Millan and…
