Investing in cryptocurrency has been compared to gambling and should be subject to regulation, according to a demand made by MPs. The Treasury Select Committee has expressed concern over the significant risks posed to consumers by cryptocurrencies due to their volatile prices and the potential for financial losses. In a report, MPs argue that regulating …
According to Standard Chartered’s research on potential market surprises in 2023, they predict that the price of bitcoin could fall to $5,000. Nurphoto | Getty Images Following the Federal Reserve’s June meeting, cryptocurrency prices, including bitcoin, dropped. Bitcoin fell below $25,000 for the first time since March. On Thursday, bitcoin was at $25,439.77, down more …
The way Securities and Exchange Commission Chair Gary Gensler is regulating cryptocurrency is a chaotic mess. Digital-coin exchanges are granted approval by the commission to go public, only to later be sanctioned for selling crypto that the agency doesn’t approve of. It’s unclear whether Gensler actually has the legal authority to intervene in this manner, …
Anomalies were discovered on Saturday when approximately $650 million was withdrawn from the funds of the collapsed FTX cryptocurrency exchange. This has led to a further decline in the value of the cryptocurrency market, wiping out $150 billion. FTX filed for bankruptcy protection in the United States after a liquidity crisis prevented them from fulfilling …
The Binance logo is displayed on a screen in San Anselmo, California, June 6, 2023. Justin Sullivan | Getty Images Cryptocurrency exchange Binance has announced its departure from the Netherlands as its application to register under the Dutch crypto authorization regime was declined. In reference to a virtual asset service provider, Binance stated on Friday …
Changpeng Zhao, founder and CEO of Binance, greets the audience as he takes the stage for a panel session at the VivaTech Conference in Paris on June 16, 2022. Bloomberg | Bloomberg | Getty Images PARIS — Just before French police paid a visit to Binance’s office in Paris, the top French executive of the …
Cryptocurrency prices surged at the end of the week on Friday, following news that the world’s largest asset manager is entering the race to launch the first spot bitcoin exchange-traded fund (ETF) in the United States. Bitcoin closed the day 3.75% higher at $26,355.04, according to CoinMetrics. Ether also saw a 3% increase, reaching $1,718.32. …
FTX Founder Sam Bankman-Fried arrives at Manhattan Federal Court for a court appearance in New York, United States on June 15, 2023. Fatih Aktas/ | Anadolu Agency | Getty Images Federal prosecutors have submitted a request to a judge on Thursday, seeking the removal of five charges against alleged cryptocurrency fraudster Sam Bankman-Fried. The charges …
On June 9th, the Republican leader of the House Financial Services Committee introduced a revised draft of the primary legislative proposal for regulating stablecoins. The newly released draft synthesizes certain viewpoints put forth by Democratic lawmakers and includes additional input from Republican committee members. The bill requires that the Federal Reserve create guidelines for issuing …
Binance’s struggles in the United States continue as the exchange announced that its customers would no longer be able to purchase crypto using U.S. dollars on its platform starting June 13. The decision was made as Binance’s payment and banking partners signaled their intent to pause USD fiat channels. The move comes in the midst …