Robinhood’s crypto arm has agreed to pay $3.9 million after being accused of preventing customers from withdrawing digital assets from their accounts over a four-year period. On Wednesday, the California Department of Justice said it marked the first public action by the regulator against a crypto firm as it continues to exercise its authority under the banner of “protecting consumers.”…
Polygon’s AggLayer will unite the entire blockchain space to provide “infinite scalability,” according to Polygon Labs’ CEO. Source: https://cointelegraph.com/news/polygon-agglayer-unify-web3-blockchain?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Sberbank, Russia’s largest financial institution, plans to join a cryptocurrency settlement pilot program this fall. The bank also aims to serve clients using digital rubles by 2025. Deputy Chairman Anatoly Popov supports regulatory efforts to legitimize cryptocurrencies for international payments and mining. He highlighted cryptocurrencies as effective payment methods, especially for small businesses, amid global […] Source: https://news.bitcoin.com/sberbank-to-join-russias-crypto-settlement-pilot-this-fall-executive-reveals/
Dogwifhat open interest has spiked as its price has been trading below $1.90 since Aug. 25, while a trader points out a potential reversal pattern forming. Source: https://cointelegraph.com/news/dogwifhat-wif-open-interest-price-reversal-crypto-traders?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
The U.S. risks lagging in stablecoin regulation at the federal level amid competing jurisdictions worldwide, even as the Republican and Democratic parties work to establish clearer rules for the sector. The concern was highlighted by Circle’s Vice President, Yam Ki Chan, in an interview with Decrypt during Korea Blockchain Week on Wednesday, where he discussed global regulatory shifts. “Major jurisdictions…
Core DAO contributor Brendan Sedo says it’s a “no-brainer” that most of the $1 trillion dollars of capital in the Bitcoin ecosystem will make its way into sidechains and DeFi. Source: https://cointelegraph.com/news/bitcoin-defi-tvl-top-ethereum-within-2-years-core-dao-contributor?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Acting Comptroller Michael Hsu has emphasized the importance of proactive oversight in managing crypto risks. He cited the 2022 crypto market collapse, with a $2 trillion loss, where effective supervision kept banks stable. Hsu emphasized the need for vigilant supervision as digital assets and fintech increasingly integrate with traditional banking, presenting new challenges and risks. […] Source: https://news.bitcoin.com/us-banking-regulator-calls-for-stronger-oversight-of-crypto-risks/
The Core Foundation on Thursday unveiled LstBTC, an ERC-20 liquid staking token pegged 1:1 with Bitcoin (BTC), aiming to solve a longstanding dilemma for Bitcoin holders: the choice between earning staking rewards and maintaining liquidity. This allows BTC holders to earn daily rewards in CORE tokens while keeping their Bitcoin liquid for use in decentralized finance (DeFi) applications at the…
In a recent press release, the Central Bank of Argentina acknowledged sending part of its gold holdings abroad, stating that it had “recalibrated” the nation’s gold between its accounts. The institution faced criticism from some lawmakers who are concerned that this gold located abroad might be subject to confiscation due to an embargo order benefiting […] Source: https://news.bitcoin.com/amid-criticism-central-bank-of-argentina-confirms-moving-gold-abroad/
Australia has introduced voluntary AI safety standards aimed at promoting the ethical and responsible use of artificial intelligence, featuring ten key principles that address concerns around AI implementation. The guidelines, released late Wednesday, emphasize risk management, transparency, human oversight, and fairness to ensure AI systems operate safely and equitably. While not legally binding, the country’s standards are modeled on international…
