Tag: sec

Categories
Market News Top Crypto News

SEC Claims All of Ethereum Falls Under US Jurisdiction – Top Crypto Updates

SEC claims all of Ethereum falls under US jurisdiction

The U.S. Securities & Exchange Commission (SEC) claimed that Ethereum transactions take place in the United States as Ethereum nodes are “clustered more densely” in the U.S. than in any other country. The SEC argument is found within a Sept. 19 lawsuit against crypto researcher and YouTuber Ian Balina.

It was alleged that Balina conducted an unregistered offering of Sparkster (SPRK) tokens when he formed an investing pool on Telegram in 2018.

Crypto prices today: Bitcoin up 5.6%, ETH rises 6%

Bitcoin is currently trading at $19,502.37, an increase of 5.6% over the previous day. Ethereum is up 6.11% over the last 24 hours to $1,369.76. Solana rose 5.29% to $32.6, while Cardano is trading higher by 3.19% at $0.45. Polkadot (DOT) rose 3.8% to $6.37. The global crypto market cap stands at $937.46 billion, a 4.02% increase over the previous day.

WazirX delists USDC stablecoin

Indian crypto exchange WazirX announced it would delist USD Coin (USDC), Pax Dollar (USDP), and TrueUSD (TUSD). It would auto-convert users’ existing balances on those three stablecoins into BUSD, the stablecoin developed by Binance. The exchange said the move was meant “to enhance liquidity and capital efficiency for users.”

UK Financial Regulator issues consumer warning against FTX

The UK’s Financial Conduct Authority (FCA) has issued a consumer warning against crypto exchange FTX for operating within the jurisdiction of the United Kingdom without authorization. FCA stated that firms that have not registered and adhered to the Money Laundering, Terrorist Financing, and Transfer of Funds Regulations of 2017 are at risk of being subject to its criminal and civil enforcement powers. 

South Korea requests Interpol’s help in Terraform Labs probe

South Korean prosecutors have asked Interpol to issue a fugitive alert for the founder of Terraform Labs, Do Kwon, as they investigate a $40 billion crash of the firm’s crypto (LUNA). Recently, a court issued arrest warrants for Kwon and five other people connected to Terraform Labs as prosecutors investigate allegations of fraud and financial crimes.

Categories
Market News Top Crypto News

SEC to Open Digital Asset Office – Top Crypto Updates

Kiev, Ukraine - September 22, 2017: Studio shot of Golden Bitcoins Coins and dollar bills. The Bitcoin was invented by Satoshi Nakamoto in 2008 as a digital form of money This is a close up photo of several gold plated bitcoins together symbolizing th

SEC to open digital asset office

The U.S. Securities & Exchange Commission (SEC) is planning to launch a new office dedicated to reviewing filings related to digital assets. The Office of Crypto Assets to the Division of Corporation Finance’s Disclosure Review Program (DRP) will be responsible for reviewing the company filings of crypto issuers. The SEC said this move will allow the DRP to “better focus its resources and expertise to address the unique and evolving filing review issues related to crypto assets.”

Crypto prices today: Bitcoin up 1.8%, ETH falls 1%

Bitcoin is currently trading at $21,888.69, an increase of 1.8% over the previous day. Ethereum is down 1.01% over the last 24 hours to $1,740.31. Solana rose 1.75% to $35.05, while Cardano is trading higher by 0.02% at $0.507. Avalanche (AVAX) rose 1% to $20.53. The global crypto market cap stands at $1.06 trillion, a 0.63% increase over the previous day.

ED has unfrozen bank accounts after investigation: WazirX

The Enforcement Directorate (ED) has unfrozen crypto trading platform WazirX’s bank accounts. It can now resume banking operations after almost a month. “After an in-depth internal investigation, WazirX noticed that most of the users whose information was sought by ED were already identified as suspicious by WazirX internally and were blocked in 2020-2021,” said the crypto platform in a blog.

ED is conducting investigations on 16 fintech companies to crack down on Chinese loan apps, many of which are suspected of laundering money. Some of them happened to use the WazirX platform. 

Ethereum geared up for The Merge

Ethereum’s much-awaited software update named ‘The Merge’ is just two days away. The update will shift Ethereum’s mechanism to proof-of-stake (PoS) from existing proof-of-work (PoW). According to the Ethereum Foundation, PoS will cut Ethereum’s energy usage by around 99.95%.

Categories
Market News Top Crypto News

SEC Sues Dragonchain for $16.5M Dragon Token ICO – Top Crypto Updates

SEC sues Dragonchain for $16.5M Dragon Token ICO

The U.S. Securities & Exchange Commission (SEC) has announced charges against the chief architect of Dragonchain, John Joseph Roets, for allegedly raising $16.5 million in unregistered crypto asset securities offerings. Roets and Dragonchain conducted an unregistered offering of Dragon tokens (DRGN) through a discounted “presale” to members of a crypto investment club and through an initial coin offering (ICO) in October and November.

Crypto prices today: Bitcoin falls 0.4%, ETH down 0.85%

Bitcoin is currently trading at $23,933.4, a decline of 0.4% over the previous day. Ethereum fell 0.85% over the last 24 hours to $1,898.48. Solana rose 0.1% to $43.29, while Cardano is trading higher by 1.35% at $0.561. Avalanche (AVAX) fell 1.54% to $27.34. The global crypto market cap stands at $1.16 trillion, a 1.21% increase over the previous day.

Crypto crime falls 15% along with bear market: Report

Illicit activity involving crypto has declined by 15% in volume so far this year, reported blockchain intelligence firm Chainalysis. “If we dig into specific forms of crypto-based crime, we find that some have actually increased in 2022, while others have declined more than the market overall,” said the report. The total scam revenue for 2022 is 65% lower than it was through the end of July 2021 and currently sits at $1.6 billion.

Crypto.com registers with UK financial regulator

Digital asset exchange Crypto.com has registered with the United Kingdom’s Financial Conduct Authority (FCA). The Singapore-based firm is now authorized to conduct “certain crypto asset activities” in the UK. Since 2016, Crypto.com has competed with other exchanges, including FTX and Binance, to cement its presence in international markets. 

Jump Crypto to revamp core part of Solana’s infra

Jump Crypto, the crypto arm of high-frequency trading firm Jump Trading Group, announced plans to develop a new open source validator client for the Solana network to boost throughput and reliability. The firm will lead the development of a new open-source validator client called Firedancer. They will also bring their experience in building networks to Solana as it scales to potentially larger audiences in the years to come.

Categories
Market News Top Crypto News

SEC Investigating Terra’s UST Stablecoin Collapse – Top Crypto Updates

SEC investigating Terra’s UST stablecoin collapse: Report

As per a Bloomberg report, the U.S. Securities & Exchange Commission (SEC) has been looking into Terraform Labs and its stablecoin (TerraUSD) to find out if they violated federal investor protection rules. TerraUSD and LUNA functionally lost all their value last month. The SEC was already investigating Terraform founder Do Kwon in connection with his role in building the Mirror Protocol. The protocol allows users to trade tokens representing synthetic stocks.

Crypto prices today: Bitcoin falls 0.85%, ETH down 0.66%

Bitcoin is currently trading at $30,096.31, a decline of 0.85% over the previous day. Ethereum fell 0.66% over the last 24 hours to $1,788.99. Solana rose 3.55% to $40.4, while Cardano is trading lower by 4.14% at $0.623. Avalanche (AVAX) rose 0.23% to $24.43. The global crypto market cap stands at $1.24 trillion, a 0.39% decline over the previous day.

NYC gallery lets NFT owners remotely display their art

Web3 NYC Gallery is a new non-fungible token (NFT) gallery opening in Manhattan on June 15. The gallery’s Genesis NFTs let holders control a display in the space, so they can show and even sell their NFTs remotely. Within the gallery, visitors can scan a QR code on the frame and purchase any NFTs that are listed for sale. 

Edge to launch confidential no-KYC crypto Mastercard

San Diego-based startup Edge has released the first “Confidential” crypto Mastercard. It does not require know-your-customer (KYC) data for collecting information related to the identity of the user. The new card is not limited to Bitcoin. Users can sell Bitcoin Cash, Dogecoin, Litecoin, and Dash to fund their Edge Mastercard, which can then be used at eligible merchants.

Jay-Z, Jack Dorsey launch a Bitcoin academy in New York

Twitter co-founder and Block CEO Jack Dorsey is teaming up with artist Jay-Z to launch the Bitcoin Academy at Marcy Houses, the public housing complex in Brooklyn, New York, where Jay-Z grew up. The initiative aims to provide financial education with an emphasis on Bitcoin as a path to financial freedom.

Categories
Market News Top Crypto News

EPL Files Crypto, NFT Trademarks – Top Crypto Updates

English Premier League files crypto, NFT trademarks

The English Premier League (EPL) has filed two cryptocurrency and NFT trademarks in the U.S. EPL is the top level of professional English football, comprising 20 teams. The two filings pertain to the U.S. use of trademarks associated with the league, one centered on the league’s name and logo. The trademark filings cover the creation and sale of digital assets, virtual clothing, cryptos, and media files verified by NFTs.

Crypto prices today: Bitcoin down 5.8%, ETH falls 7%

Bitcoin is currently trading at $29,504.87, a decline of 5.8% over the previous day. Ethereum fell 7.14% over the last 24 hours to $1,754.51. Solana fell 6.7% to $38.98, while Cardano is trading lower by 6.31% at $0.584. Avalanche (AVAX) crashed 11.7% to $23.69. The global crypto market cap stands at $1.21 trillion, a 5.12% decline over the previous day.

SEC targets Binance’s BNB ICO for potential violations: Report

As per a Bloomberg report, the Securities and Exchange Commission (SEC) is revisiting the origins of Binance’s Coin (BNB) for potential violations of securities regulations. The probe comes just as Reuters released the results of an unrelated investigation in which it claims that at least $2.35 billion in illicit funds have been laundered through Binance between 2017 and 2021.

IRA Financial Trust sues Gemini over $36M theft of Bitcoin, ETH

IRA Financial Trust has announced a lawsuit against crypto exchange Gemini. The company manages individual retirement accounts in non-traditional assets such as Bitcoin. IRA Financial Trust lost $36 million in a crypto hack in February. It used New York-based Gemini to hold its digital assets. IRA alleges that Gemini “did not have proper safeguards in place to protect customer crypto assets.”

Indonesian exchange Pintu raises $113M to meet country’s crypto boom

Indonesian crypto exchange Pintu has raised $113 million in a Series B funding round with investments from venture capital firms. Pintu plans to use the capital to build out new features, including additional supported tokens and blockchains and products. It plans to continue with its aggressive hiring plans to help address the booming crypto market in Indonesia.

Categories
Market News Top Crypto News

Coinbase Launches Global ‘Think Tank’ for Crypto – Top Crypto News

Coinbase launches global ‘think tank’ for crypto

Coinbase is launching a global think tank to shape the policy debate around digital assets. The Coinbase Institute will accelerate research on cryptocurrency and Web3 (a decentralized version of the internet). It will also spearhead discussions with policymakers and academics on the intersection of technology and finance.

Crypto prices today: Bitcoin falls 1.6%, ETH down 3.4%

Bitcoin is currently trading at $29,317.75, a 1.6% decline over the previous day. Ethereum fell 3.4% over the last 24 hours to $1,965.2. Solana fell 7.4% to $51.4, while Cardano is trading lower by 8% at $0.517. Avalanche (AVAX) crashed 12.68% to $29.27. The global crypto market cap stands at $1.24 trillion, a 3.28% decline over the previous day.

SEC Chair threatens action against unregistered crypto exchanges

Gary Gensler, Chair of the US Securities and Exchange Commission (SEC), has cited concerns about crypto enforcement in its budget request for the next fiscal year. He referred to crypto markets as “highly volatile and speculative” and expressed the need for “new tools and expertise” to address enforcement.

‘Crypto bank’ Cashaa exits from Unicas in India

Cashaa, a fiat and crypto neo bank, announced its exit from Unicas, its maiden attempt to enter the personal crypto-banking market. In 2020, Unicas offered crypto-friendly INR Savings accounts to its customers in partnership with the United Multistate Co-op. Cashaa is expected to release its expansion plan for India soon. 

Aave launches decentralized, NFT-based social media protocol

Aave has launched Lens Protocol, an NFT-based decentralized social media protocol that runs on the Polygon network. It can power an array of potential social media apps and services. It will allow users to own their content by storing it as non-fungible tokens (NFTs) within a crypto wallet.

Categories
Market News Top Crypto News

SEC Adds ‘Misleading’ Crypto Firms to Public Alert List – Top Crypto News

SEC adds ‘misleading’ crypto firms to public alert list

The US Securities & Exchange Commission (SEC) has added “misleading” crypto trading firms to its list of unregistered entities. The SEC launched the Public Alert: Unregistered Soliciting Entities list in 2007. It now includes “SuperBinance” and “Superfxtrading,” which takes advantage of investors confusing them with Binance and FTX. There’s also a “Gemini M&A” impersonating the Goldman Sachs mergers & acquisition deal-making app, Gemini.

Crypto prices today: Bitcoin rises 5.2%, ETH up 6.5%

Bitcoin is currently trading at $40,468.76, a 5.2% increase over the previous day. Ethereum is up 6.5% over the last 24 hours to $2,992.46. Solana rose 5.64% to $100.58, while Cardano is trading higher by 5.8% at $0.887. Terra (LUNA) jumped 9.15% to $96. The global crypto market cap stands at $1.86 trillion, a 3.83% increase over the previous day.

NFL releases 2022 Draft ‘Virtual Ticket’ NFTs on Flow

The National Football League (NFL) has released Draft-themed NFT collectibles minted on Flow. Each of the league’s 32 teams is offering 52 NFTs that sell for $52 each. Each NFT is dubbed a “virtual commemorative ticket” for the NFL Draft. However, it does not serve as an actual access pass to the live event in Las Vegas. 

Abu Dhabi licenses Kraken to operate crypto exchange

Abu Dhabi Global Market (ADGM) has licensed the Kraken Group to operate a regulated virtual asset exchange platform in the financial-free zone. Kraken is the first global virtual assets exchange group in the United Arab Emirates to receive a full financial license from the ADGM. The Kraken MENA (Middle East & North Africa) aims to provide access to virtual assets through regulated funding, trading, and custodial services in dirhams. 

Central African Republic passes bill legalizing use of crypto

The Central African Republic has passed a law to accept Bitcoin as legal tender. As per reports, the law was unanimously supported by the National Assembly to assist the country’s economic recovery and peacebuilding efforts. However, experts still believe Bitcoin and other cryptos are too volatile to function as legal tender in modern economies.

Categories
Market News Top Crypto News

SEC Approves Fourth Bitcoin Futures ETF – Top Crypto News

SEC approves fourth Bitcoin Futures ETF

The US Securities and Exchange Commission (SEC) has approved its fourth Bitcoin Futures Exchange Traded Fund (ETF). The SEC approved Teucrium Bitcoin Futures Fund, managed by Vermont-based Teucrium Trading. Teucrium is the fourth Bitcoin Futures fund to be approved, following Proshares (BITO), Valkyrie (BTF), and VanEck (XBTF) funds that all began trading late last year. 

Crypto prices today: Bitcoin up 0.3%, ETH rises 1.5%

Bitcoin is currently trading at $43,589, a 0.38% increase over the previous day. Ethereum is up 1.5% over the last 24 hours to $3,263.8. Solana rose 4.4% to $119.67, while Cardano is trading higher by 1.53% at $1.09. Avalanche (AVAX) rose 4.96% to $88.5. The global crypto market cap stands at $2.02 trillion, a 1.07% increase over the previous day.

Coinbase clarifies on UPI after NPCI statement

US-based crypto exchange Coinbase said it is committed to working with the National Payments Corporation of India (NPCI), which operates the widely adopted Unified Payments Interface (UPI). The statement comes a day after Coinbase announced that it had commenced retail crypto trading in India. The company said it would allow users to purchase crypto via UPI.

However, NPCI issued a clarification saying that it is not aware of any crypto exchange using UPI. As per reports, NPCI​’s stance is that UPI does not support crypto purchases.

Bolt pays $1.5B to acquire crypto startup Wyre

Online payment provider Bolt has acquired crypto service provider Wyre to provide one-click crypto payments. As per reports, the consideration paid for the acquisition is $1.5 billion (~Rs 11,380 crore). The Wall Street Journal claimed that this deal is the largest crypto acquisition to date. The tie-up has the potential to make crypto-based web payments more common.

Robinhood to use Lightning Network for Bitcoin transactions

Stock and crypto trading app Robinhood is planning to add the Bitcoin Lightning Network to its platform for faster BTC transactions. Lightning is a layer-2 network built on top of Bitcoin that allows faster, low-fee transactions. Eligible users from Robinhood’s beta crypto waitlist can now send and receive crypto through its crypto wallet feature.

Categories
Market News Top Crypto News

UK Aims to Become ‘Crypto Asset Tech Hub’ – Top Crypto News

uk reports slow growth

UK Govt lays out plans to become ‘crypto asset technology hub’

The United Kingdom has announced plans to become a “global crypto asset technology hub.” The country’s Finance Ministry will create legislation to bring certain stablecoins into the regulatory framework. The government acknowledged that certain stablecoins have the potential to become a widespread means of payment, including by retail customers. Stablecoins are cryptos whose value is pegged to that of fiat currencies like the US Dollar, Euro, and UK Pound.

Crypto prices today: Bitcoin rises 1%, ETH up 0.5%

Bitcoin is currently trading at $46,585.62, a 1% increase over the previous day. Ethereum is up 0.54% over the last 24 hours to $3,516.2. Solana fell 2.6% to $132.28, while Cardano is trading lower by 2.08% at $1.20. Polygon (MATIC) fell 2.16% to $1.64. The global crypto market cap stands at $2.16 trillion, a 0.29% increase over the previous day.

Intel launches new Bitcoin mining chips focused on sustainability

Intel launched its “Intel Blockscale ASIC,” a second-generation Bitcoin mining chip. The chip features a 580 GH/s (gigahashes per second) hash rate, while consuming just 26 J/TH (joules per terahash), making it much more efficient. Hash rate measures how quickly a miner can generate answers to Bitcoin’s next block. Joules per terahash measure how much energy is consumed to produce every terahash.

Gensler wants SEC and CFTC to regulate crypto exchanges together

US Securities & Exchange Commission (SEC) Chair Gary Gensler has asked his staff to coordinate with the Commodity Futures Trading Commission (CFTC) to find ways to regulate platforms that facilitate the trading of both securities and non-securities. A joint SEC-CFTC registration and regulation process could eliminate some confusion by giving exchanges a single regulatory authority to turn to.

Crypto billionaire plans to give away 99% of his fortunes

The billionaire founder of crypto exchange FTX, Sam Bankman-Fried, plans to give away the vast majority of his wealth. According to Bloomberg, the 30-year-old drives a Toyota Corolla, lives like a college student, and has a goal of making as much money as possible so that he will have more to give away. The MIT grad learned effective altruism in 2012. The philosophy uses mathematical calculations to determine how people could do the most good with their money and time.

Categories
Market News Top Crypto News

NFT to Support Ukraine Goes Viral – Top Crypto News

Russian national will use sales of her burning passport NFT to support Ukraine

Olive Allen, a Russian national and artist who has lived in the United States for more than 11 years, has burned her mother country’s passport in the hopes of raising awareness and funds related to the military conflict in Ukraine. The auction of her burning passport NFT went live on the SuperRare marketplace on Friday.

Crypto Prices today: Bitcoin is down by more than 3%

BTC is trading more than 3% in the red and Ethereum is more than 4% down. Meta Speed game price increased by 8 times over the last 24 hours.

The Sandbox Surpasses 2 Million Registered Users

Metaverse game The Sandbox has recently reached the 2 million registered users mark amid its play-to-earn season 2 Alpha launch.

Cointelegraph partners with Nitro Network to bring digital mining and decentralized internet to the masses

Cointelegraph has partnered up with Nitro Network, to pioneer the future of a decentralized internet through the Non-Fungible Miner. NFMs are a unique innovation — an NFT that provides all users the ability to digitally mine Nitro’s native token, NCash, from anywhere in the world. 

Waves risks ‘death cross’ plunge after price rallies 88% in six days

A major rally in Waves’ price this week that saw it nearly double risks faltering in the coming sessions due to a “death cross” technical pattern. A death cross measure appears when an asset’s long-term moving average closes above its short-term moving average.

Categories
Market News Top Crypto News

Fed Chair Calls For Legal Action on Crypto – Top Crypto News

Fed Chair calls for congressional action on crypto amid Ukraine-Russia conflict

Federal Reserve Chairman Jerome Powell said there is a growing need for crypto regulations during testimony before the House Financial Services Committee. He said recent events in Ukraine have “underscored the need for Congressional action on digital finance, including cryptocurrencies.”

Crypto prices today: Bitcoin down 1%, ETH falls 1.7%

Bitcoin is currently trading at $43,451.8, a 1% decline over the previous day. Ethereum fell 1.7% over the last 24 hours to $2,915.5. Solana fell 2.7% to $99.7, while Cardano is down 3.5% to $0.92. Polygon (MATIC) declined by 1.16% to $1.61. The global crypto market cap stands at $1.90 trillion, an 1.87% decline over the previous day.

Ukraine now accepts Dogecoin donations amid Russian invasion

Ukraine is now accepting Dogecoin donations, said Vice Prime Minister Mykhailo Fedorov. This is the latest crypto-related move on behalf of the Ukrainian government to raise funds amid Russia’s invasion. Last week, the government’s official Twitter account shared Bitcoin and Ethereum addresses when it announced Ukraine would accept crypto donations.

SEC targets NFT creators, marketplaces over ICO-like sales: Report

According to a Bloomberg report, the US Securities and Exchange Commission (SEC) is probing NFT creators and marketplaces for regulatory violations. The probe is looking into whether NFTs are being utilized to raise money like traditional securities. The SEC has reportedly sent subpoenas related to the investigation. It is particularly interested in information about fractional NFTs.

US Treasury to monitor crypto, for sanctions evasion

In response to a letter from 4 Senate Democrats raising concerns about crypto’s potential use by Russia to avoid sanctions, Treasury Secretary Janet Yellen has said that the US will monitor the situation. The department would make sure crypto couldn’t be used to bypass sanctions against Russia.

Categories
Market News Top Crypto News

BlockFi to Pay Largest SEC Fine Ever – Top Crypto News

BlockFi to pay largest SEC fine ever for a crypto case

Crypto lending platform BlockFi has settled with the US Securities and Exchange Commission (SEC) over charges the company allegedly offered interest accounts without registering them under the Securities Act. The company will pay $100 million in penalties, including $50 million to settle charges from 32 states. This is the largest penalty ever assessed in a crypto enforcement action.

Crypto prices today: Bitcoin up 3.2%, ETH rises 5.5%

Bitcoin is currently trading at $43,589, a 3.2% increase over the previous day. Ethereum has surged 5.5% over the last 24 hours to $3,030. Solana rose 7% to $101.4, while Cardano is up 3.6% to $1.07. Polygon (MATIC) rose 5.7% to $1.72. The global crypto market cap stands at $1.95 trillion, up 3.96% over the previous day.

UK Tax Authorities seize 3 NFTs involved in $1.8M fraud investigation

According to BBC, Her Majesty’s Revenue and Customs (HMRC) has seized three NFTs as part of a wider investigation concerning VAT (goods and services tax) fraud. This is the first time HMRC has seized an NFT. The deputy director of economic crime, Nick Sharp, said this example “serves as a warning to anyone who thinks they can use crypto assets to hide money from HMRC”.

Indian crypto enthusiasts seek reassessment of new taxes

The representatives of India’s crypto industry have appealed to the government to re-examine the budget proposal to impose a tax deducted at source (TDS) on cryptos, citing it will be difficult to comply with. They have also sought clarity on transactions with residents of a country with which India has a double taxation avoidance agreement.

Crypto worse than Ponzi schemes, banning them advisable: RBI Deputy Governor

Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar said that banning crypto is the most advisable choice for India. He stated that crypto is akin to Ponzi schemes and “may even be worse”. “There are strong reasons to keep them away from the formal financial system,” he added.