Sotheby's Second 3AC NFT Sale Nets $10.9M, With 'The Goose' Alone Netting $6.2M
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
Ringers #879, a seminal NFT artwork often referred to as "The Goose," far outpaced estimates and sold for $tk.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
Ringers #879, a seminal NFT artwork often referred to as "The Goose," far outpaced estimates and sold for $tk.
Sotheby's auctions off Dmitri Cerniak's 'The Goose' NFT from 3AC collection for $6.2M
Cointelegraph.com News (RSS)
Su Zhu and Kyle Davies originally purchased 'The Goose' digital artwork in August 2021 for roughly $5.8 million in Ether.
Cointelegraph.com News (RSS)
Su Zhu and Kyle Davies originally purchased 'The Goose' digital artwork in August 2021 for roughly $5.8 million in Ether.
Fed, SEC investigate Goldman Sachs over Silicon Valley Bank's securities portfolio: Report
Cointelegraph.com News (RSS)
Both regulatory bodies are inquiring into the activities of Goldman Sachs during its unsuccessful capital raise preceding the downfall of Silicon Valley Bank.
Cointelegraph.com News (RSS)
Both regulatory bodies are inquiring into the activities of Goldman Sachs during its unsuccessful capital raise preceding the downfall of Silicon Valley Bank.
Why is the crypto market down today? June 2023 industry failure
Cryptopolitan (RSS)
With the SEC breathing fire down on the DeFi industry, the crypto market has hit hard snugs on all fronts. According to data from Kaiko, crypto trading volumes reached an annual low in the second quarter as market makers reduced their activity. Furthermore, major cryptocurrencies were under further pressure Thursday as the industry faced new hurdles on multiple fronts. To top it all off, more than $1.2 million in Bitcoin that had not moved in over 13 years recently did.
Crypto trading volumes hit new lows
According to reports, average daily volumes for the top ten tokens (excluding stablecoins) were $10 billion in the second quarter of 2023, compared to $18 billion in the first quarter of the year.
This comes as regulatory scrutin...
View original post
Cryptopolitan (RSS)
With the SEC breathing fire down on the DeFi industry, the crypto market has hit hard snugs on all fronts. According to data from Kaiko, crypto trading volumes reached an annual low in the second quarter as market makers reduced their activity. Furthermore, major cryptocurrencies were under further pressure Thursday as the industry faced new hurdles on multiple fronts. To top it all off, more than $1.2 million in Bitcoin that had not moved in over 13 years recently did.
Crypto trading volumes hit new lows
According to reports, average daily volumes for the top ten tokens (excluding stablecoins) were $10 billion in the second quarter of 2023, compared to $18 billion in the first quarter of the year.
This comes as regulatory scrutin...
View original post
Coinbase and cash app partner to empower self-custody with Jack Dorsey’s Bitcoin wallet
Cryptopolitan (RSS)
Two major companies in the crypto industry, Coinbase, and Cash App, have announced that they will be integrating Jack Dorsey’s Bitcoin self-custody wallet. This partnership is a monumental advance in the widespread use of decentralized finance, giving investors greater discretion over their digital possessions.
The expanding use of self-custody wallets
With more and more people desiring to take complete charge and ownership of their digital assets, self-custody wallets have become increasingly popular. To use a conventional crypto exchange, consumers must place their faith in the platform to safely store their funds. The risk of having one’s cash stolen or lost in the event of a platform failure or hack has led some to question the wisdom of the centralized custody model.
Block (SQ), Jack Dorsey’s FinTech firm, will connect its new Bitkey self-custody bitcoin wallet to Cashapp, its financial services platform, and Coinbase, an exchange for bitcoin and other cryptos. Wallet public beta testing will begin in the following weeks, and a complete global release is planned for later this year, the business announced in a blog post published on Wednesday.
Cashapp is Block’s financial services platform that offers payments, equities, and bitcoin all in one app. At the same time, Coinbase is the largest crypto exchange in the U.S. Users of Bitkey can now use the wallet’s app to purchase and sell bitcoin (BTC) through Cashapp and Coinbase.
🚨 BREAKING: Both #Coinbase $COIN and Cash App have announced plans to integrate Jack Dorsey's self-custody wallet for #Bitcoin – Coinbase Blog
— BecauseBitcoin.com (@BecauseBitcoin) June 15, 2023
The Bitcoin hardware wallet BitKey was created by Block, formerly known as Square, and linked to Jack Dorsey. BitKey was announced previously; however, the wallet is now unavailable to the general public. In the United States, Canada, the United Kingdom, Brazil, Australia, and other worldwide regions, the full suite of Bitkey products is scheduled to debut later this year.
Coinbase and Cash App approve a self-custody wallet
There are several benefits for users when Dorsey’s Bitcoin self-custody wallet is integrated with Coinbase and Cash App. First and foremost, it eliminates the need for a centralized repository for Bitcoin and instead enables users to store their holdings in private wallets. Users can rest easy knowing that they are the sole proprietors of their own money.
Furthermore, this integration is consistent with the decentralization and user autonomy that fuel the Bitcoin movement. Coinbase and Cash App’s self-custody feature promotes a more equitable financial system by making Bitcoin more widely available.
When the wallet is released, customers can purchase Bitcoin through the Cash App and Coinbase.
Our strong belief is that self-custody is the best place to hold and manage your Bitcoin […] If anything goes wrong with a custodial platform, you know that—this industry has had a lot of ups and d...
View original post
Cryptopolitan (RSS)
Two major companies in the crypto industry, Coinbase, and Cash App, have announced that they will be integrating Jack Dorsey’s Bitcoin self-custody wallet. This partnership is a monumental advance in the widespread use of decentralized finance, giving investors greater discretion over their digital possessions.
The expanding use of self-custody wallets
With more and more people desiring to take complete charge and ownership of their digital assets, self-custody wallets have become increasingly popular. To use a conventional crypto exchange, consumers must place their faith in the platform to safely store their funds. The risk of having one’s cash stolen or lost in the event of a platform failure or hack has led some to question the wisdom of the centralized custody model.
Block (SQ), Jack Dorsey’s FinTech firm, will connect its new Bitkey self-custody bitcoin wallet to Cashapp, its financial services platform, and Coinbase, an exchange for bitcoin and other cryptos. Wallet public beta testing will begin in the following weeks, and a complete global release is planned for later this year, the business announced in a blog post published on Wednesday.
Cashapp is Block’s financial services platform that offers payments, equities, and bitcoin all in one app. At the same time, Coinbase is the largest crypto exchange in the U.S. Users of Bitkey can now use the wallet’s app to purchase and sell bitcoin (BTC) through Cashapp and Coinbase.
🚨 BREAKING: Both #Coinbase $COIN and Cash App have announced plans to integrate Jack Dorsey's self-custody wallet for #Bitcoin – Coinbase Blog
— BecauseBitcoin.com (@BecauseBitcoin) June 15, 2023
The Bitcoin hardware wallet BitKey was created by Block, formerly known as Square, and linked to Jack Dorsey. BitKey was announced previously; however, the wallet is now unavailable to the general public. In the United States, Canada, the United Kingdom, Brazil, Australia, and other worldwide regions, the full suite of Bitkey products is scheduled to debut later this year.
Coinbase and Cash App approve a self-custody wallet
There are several benefits for users when Dorsey’s Bitcoin self-custody wallet is integrated with Coinbase and Cash App. First and foremost, it eliminates the need for a centralized repository for Bitcoin and instead enables users to store their holdings in private wallets. Users can rest easy knowing that they are the sole proprietors of their own money.
Furthermore, this integration is consistent with the decentralization and user autonomy that fuel the Bitcoin movement. Coinbase and Cash App’s self-custody feature promotes a more equitable financial system by making Bitcoin more widely available.
When the wallet is released, customers can purchase Bitcoin through the Cash App and Coinbase.
Our strong belief is that self-custody is the best place to hold and manage your Bitcoin […] If anything goes wrong with a custodial platform, you know that—this industry has had a lot of ups and d...
View original post
Coinbase
Announcing a Global Partnership with Block’s Bitkey Wallet
Binance.US implements staff reductions as legal battle with SEC looms
Cryptopolitan (RSS)
Binance.US, the United States affiliate of cryptocurrency exchange Binance, has reportedly laid off a portion of its workforce in response to the legal action taken by the U.S. Securities and Exchange Commission (SEC) against both entities. The SEC lawsuits alleging the offering of unregistered securities have compelled Binance.US to transition into a “crypto-only exchange,” leading to the decision to downsize its teams and reduce expenditures.
The management of Binance.US described the SEC as a “politically motivated regulator” that necessitated the transition to a crypto-exclusive focus. While the exchange had aimed to avoid this scenario, it found itself compelled to take this step due to the circumstances arising from the lawsuits. Binance.US expressed regret over the departures of the affected employees and pledged to assist in their transition.
Reports indicate that around 50 positions have been eliminated, according to sources cited by Reuters. Binance.US’s LinkedIn page previously listed the company as employing 487 individuals. The SEC’s legal action against Binance.US, Binance, and its founder and CEO, Changpeng “CZ” Zhao, alleges the offering of unregistered securities to the general public. Although the SEC sought a temporary restraining order to freeze Binance.US’s assets, a judge declined the order, allowing the exchange to continue operating in the United States.
Preparing for legal battles and consequences
The job cuts at Binance.US come as the company prepares for an anticipated lengthy and costly legal battle with U.S. regulators. In a letter addressed to its employees, the exchange’s management explained that the reduction in team sizes was necessary to align with the company’s preparations for a protracted litigation process. As a virtual company with no headquarters, Binance refers to its principal place of business for Binance.US as Miami, according to the SEC complaint.
Binance.US has faced various challenges in recent times. Earlier this month, the exchange disclosed that it was being cut off by its payment and banking partners, forcing it to convert into a crypto-only platform. The SEC’s actions last week accused Binance.US and Binance Holdings Ltd., the operator of the larger Binance.com, of mishandling customer funds, misleading investors and regulators, and violating securities regulations. Both companies have disputed the allegations.
In a recent development, Binance.US and the SEC have agreed to work towards a resolution that avoids a complete freeze of assets on the cryptocurrency trading platform. Binance.US has emphasized that an asset freeze would effectively shutter its operations.
As the legal battle between Binance.US and the SEC unfolds, the cryptocurrency exchange is grappling with the need to navigate these challenges while striving to protect its business interests and reputation within the crypto industry.
Cryptopolitan (RSS)
Binance.US, the United States affiliate of cryptocurrency exchange Binance, has reportedly laid off a portion of its workforce in response to the legal action taken by the U.S. Securities and Exchange Commission (SEC) against both entities. The SEC lawsuits alleging the offering of unregistered securities have compelled Binance.US to transition into a “crypto-only exchange,” leading to the decision to downsize its teams and reduce expenditures.
The management of Binance.US described the SEC as a “politically motivated regulator” that necessitated the transition to a crypto-exclusive focus. While the exchange had aimed to avoid this scenario, it found itself compelled to take this step due to the circumstances arising from the lawsuits. Binance.US expressed regret over the departures of the affected employees and pledged to assist in their transition.
Reports indicate that around 50 positions have been eliminated, according to sources cited by Reuters. Binance.US’s LinkedIn page previously listed the company as employing 487 individuals. The SEC’s legal action against Binance.US, Binance, and its founder and CEO, Changpeng “CZ” Zhao, alleges the offering of unregistered securities to the general public. Although the SEC sought a temporary restraining order to freeze Binance.US’s assets, a judge declined the order, allowing the exchange to continue operating in the United States.
Preparing for legal battles and consequences
The job cuts at Binance.US come as the company prepares for an anticipated lengthy and costly legal battle with U.S. regulators. In a letter addressed to its employees, the exchange’s management explained that the reduction in team sizes was necessary to align with the company’s preparations for a protracted litigation process. As a virtual company with no headquarters, Binance refers to its principal place of business for Binance.US as Miami, according to the SEC complaint.
Binance.US has faced various challenges in recent times. Earlier this month, the exchange disclosed that it was being cut off by its payment and banking partners, forcing it to convert into a crypto-only platform. The SEC’s actions last week accused Binance.US and Binance Holdings Ltd., the operator of the larger Binance.com, of mishandling customer funds, misleading investors and regulators, and violating securities regulations. Both companies have disputed the allegations.
In a recent development, Binance.US and the SEC have agreed to work towards a resolution that avoids a complete freeze of assets on the cryptocurrency trading platform. Binance.US has emphasized that an asset freeze would effectively shutter its operations.
As the legal battle between Binance.US and the SEC unfolds, the cryptocurrency exchange is grappling with the need to navigate these challenges while striving to protect its business interests and reputation within the crypto industry.
Cryptopolitan
Binance under fire: accused of using Ethereum account to comingle client funds | Cryptopolitan
Binance, the prominent cryptocurrency exchange, continues to employ the Ethereum (ETH) account it was accused of using to commingle clients' funds as the
UN Secretary-General champions the regulation of AI technology
Cryptopolitan (RSS)
Generative AI, the latest form of artificial intelligence, has ignited high-level discussions among world leaders, prompting the UN Secretary-General António Guterres, to join the growing chorus of voices advocating for the regulation of this technology. Guterres expressed deep concern over the potential dangers posed by generative AI, comparing it to the existential threat of nuclear war.
UN Secretary-General proposes the regulation of AI technology
In a press conference held on Monday, Guterres highlighted the alarming warnings from scientists and experts about the risks associated with AI. He emphasized the need for swift action and urged the international community to take these warnings seriously. To address this issue, Guterres announced his intention to establish an AI advisory board comprising experts and scientists from the International Telecommunication Union (ITU) and the Educational, Scientific, and Cultural Organization (UNESCO).
Coinciding with Guterres’ statements, the United Nations released a report titled “Information Integrity on Digital Platforms,” which underscored the importance of responsible AI usage and highlighted concerns about the use of deep fakes in conflict zones. Additionally, the European Parliament passed what it heralds as the world’s first-ever AI legislation, signaling a proactive approach to governing this rapidly advancing technology.
While the UN Secretary-General acknowledged the criticality of artificial intelligence, he cautioned against overlooking the damage already being caused by digital technology. He drew attention to the proliferation of hate speech and misinformation online, stressing that these issues are presently fueling conflicts, undermining democracy, and posing threats to public health and climate action.
European Parliament passes landmark AI legislation
Inspired by the International Atomic Energy Agency (IAEA), the UN Secretary-General expressed support for the establishment of an artificial intelligence agency. The IAEA, renowned for its regulatory functions and solid knowledge-based approach, serves as a model for addressing the challenges associated with AI. Such an agency, Guterres argued, would provide a robust framework for oversight, licensing, and compliance with safety standards. OpenAI CEO Sam Altman echoed this sentiment during his testimony before the U.S. Senate Committee on the Judiciary, advocating for the creation of a government office responsible for setting AI standards and conducting independent audits.
Despite these urgent calls for action, the UN Secretary-General acknowledged the limited investment of the United Nations in public administration, underscoring the need for member states’ initiatives and cooperation. He emphasized the challenging task of competing with private platforms that have amassed significant knowledge and resources.
In March, OpenAI launched GPT-4, their latest generative AI model, which prompted the Future of Life Institute to initiate an online petition calling for a six-month pause on AI systems training. Prominent figures from the tech industry, including Tesla CEO Elon Musk and Apple co-founder Steve Wozniak, endorsed this petition, further amplifying the need for regulatory measures.
Cryptopolitan (RSS)
Generative AI, the latest form of artificial intelligence, has ignited high-level discussions among world leaders, prompting the UN Secretary-General António Guterres, to join the growing chorus of voices advocating for the regulation of this technology. Guterres expressed deep concern over the potential dangers posed by generative AI, comparing it to the existential threat of nuclear war.
UN Secretary-General proposes the regulation of AI technology
In a press conference held on Monday, Guterres highlighted the alarming warnings from scientists and experts about the risks associated with AI. He emphasized the need for swift action and urged the international community to take these warnings seriously. To address this issue, Guterres announced his intention to establish an AI advisory board comprising experts and scientists from the International Telecommunication Union (ITU) and the Educational, Scientific, and Cultural Organization (UNESCO).
Coinciding with Guterres’ statements, the United Nations released a report titled “Information Integrity on Digital Platforms,” which underscored the importance of responsible AI usage and highlighted concerns about the use of deep fakes in conflict zones. Additionally, the European Parliament passed what it heralds as the world’s first-ever AI legislation, signaling a proactive approach to governing this rapidly advancing technology.
While the UN Secretary-General acknowledged the criticality of artificial intelligence, he cautioned against overlooking the damage already being caused by digital technology. He drew attention to the proliferation of hate speech and misinformation online, stressing that these issues are presently fueling conflicts, undermining democracy, and posing threats to public health and climate action.
European Parliament passes landmark AI legislation
Inspired by the International Atomic Energy Agency (IAEA), the UN Secretary-General expressed support for the establishment of an artificial intelligence agency. The IAEA, renowned for its regulatory functions and solid knowledge-based approach, serves as a model for addressing the challenges associated with AI. Such an agency, Guterres argued, would provide a robust framework for oversight, licensing, and compliance with safety standards. OpenAI CEO Sam Altman echoed this sentiment during his testimony before the U.S. Senate Committee on the Judiciary, advocating for the creation of a government office responsible for setting AI standards and conducting independent audits.
Despite these urgent calls for action, the UN Secretary-General acknowledged the limited investment of the United Nations in public administration, underscoring the need for member states’ initiatives and cooperation. He emphasized the challenging task of competing with private platforms that have amassed significant knowledge and resources.
In March, OpenAI launched GPT-4, their latest generative AI model, which prompted the Future of Life Institute to initiate an online petition calling for a six-month pause on AI systems training. Prominent figures from the tech industry, including Tesla CEO Elon Musk and Apple co-founder Steve Wozniak, endorsed this petition, further amplifying the need for regulatory measures.
Binance.US Fires 50 Employees Amid Legal Difficulties With the SEC
CoinCu News (RSS)
Key Points:
Binance.US has laid off several employees after authorities sued it for breaking securities laws and moved to seize its assets last week.
Around 50 employees were laid off.
Workers from the company’s legal, compliance, and risk departments were among those let go, with the request for anonymity since the case is confidential.
According to Reuters, citing two people familiar with the matter, Binance.US fired fifty people, spreading across the legal, compliance, and risk departments....
View original post
CoinCu News (RSS)
Key Points:
Binance.US has laid off several employees after authorities sued it for breaking securities laws and moved to seize its assets last week.
Around 50 employees were laid off.
Workers from the company’s legal, compliance, and risk departments were among those let go, with the request for anonymity since the case is confidential.
According to Reuters, citing two people familiar with the matter, Binance.US fired fifty people, spreading across the legal, compliance, and risk departments....
View original post
Bitcoin Jumps Past $25.7K After BlackRock iShares ETF Filing
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
The largest cryptocurrency rose more than 1.3% in the hour after the announcement.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
The largest cryptocurrency rose more than 1.3% in the hour after the announcement.
Do Kwon to Remain in Custody While Montenegro Courts Consider Extradition Request: Report
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
Courts in the country approved bail for the Terraform Labs founder, but a South Korea extradition request is set to keep him in jail.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
Courts in the country approved bail for the Terraform Labs founder, but a South Korea extradition request is set to keep him in jail.
BlackRock applies for spot Bitcoin ETF — a US first, if approved
Cointelegraph.com News (RSS)
The investment firm joins a long line of applicants; ARK is among those still waiting to hear from the SEC and Grayscale has appealed its rejection.
Cointelegraph.com News (RSS)
The investment firm joins a long line of applicants; ARK is among those still waiting to hear from the SEC and Grayscale has appealed its rejection.
Internal tensions at the SEC exposed in Hinman documents
Cryptopolitan (RSS)
Hinman documents recently made public have exposed internal tensions within the U.S. Securities and Exchange Commission (SEC), raising concerns about the agency’s intentions in the continuing legal battle with Ripple. The documents revealed the SEC’s position on crypto, which impacted investor safety. Stuart Alderoty, the chief legal officer of Ripple, claims that the SEC purposefully increased regulatory ambiguity.
Ripple’s claims: SEC purposefully increased regulatory ambiguity
According to reports, recent revelations in the Hinman documents, which have become public amid the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC), have exposed internal conflicts within the SEC. This development has sparked inquiries into the SEC’s actions and decision-making processes surrounding cryptocurrencies.
The Hinman documents cover the internal SEC correspondence relating to a speech given by former director William Hinman in 2018. Crypto analysts claims that the Hinman records present a picture of an organization that is more concerned with enlarging its purview than carrying out its core duty of safeguarding American investors:
One analyst pointed out that one of the unredacted Hinman documents showed that the Office of General Counsel of the SEC had accepted the potential that crypto would fall under an “other” category. This shows that cryptocurrencies are not classified as securities under the Howey test’s notion of a controlling organization because there isn’t one. Similar to other items like prescription drugs or credit cards, laws may still be necessary to protect consumers.
According to market analyst, the main problem is that while cryptocurrencies may have certain traits of securities, their essential qualities set them apart from conventional securities. As a result, although cryptocurrency regulation is essential, it shouldn’t be left entirely in the hands of securities regulators, who are seen as “power-hungry.”
Ripple and crypto industry react to Hinman document disclosure
Reports have it on good authority that the disclosure of the Hinman documents has opened a Pandora’s box of potential implications for Ripple and the greater crypto industry. “Now that these documents are public, it demonstrates the rabbit hole goes much, much deeper, and further document requests will be issued soon […] be it from other litigants, Congressional investigators, FOIA requests, etc
Important to remember as you read the Hinman documents today. Hinman and the SEC lied in court for over a year saying this speech was Hinman's personal opinion only. We had to piece together video of their own words to show they were lying. What are the repercussions for a US… pic.twitter.com/AF08HlYMTT
— Digital Asset Investor (@digitalassetbuy) June 13, 2023
According to analysts, other records that illuminate the circumstances surrounding Hinman’s speech and demonstrate the conceivable participation of numerous institutions and people in forming the story may be requested. Investigating SEC staff contacts regarding why Hinman disobeyed their advice to leave ether out of his speech is part of this process.
Although William Hinman, the former head of the SEC’s corporation finance division, received a lot of attention this week for his insider discussions that led to the creation of a five-year-old speech, there were never any formal commission-approved rules or guidelines regar...
View original post
Cryptopolitan (RSS)
Hinman documents recently made public have exposed internal tensions within the U.S. Securities and Exchange Commission (SEC), raising concerns about the agency’s intentions in the continuing legal battle with Ripple. The documents revealed the SEC’s position on crypto, which impacted investor safety. Stuart Alderoty, the chief legal officer of Ripple, claims that the SEC purposefully increased regulatory ambiguity.
Ripple’s claims: SEC purposefully increased regulatory ambiguity
According to reports, recent revelations in the Hinman documents, which have become public amid the legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC), have exposed internal conflicts within the SEC. This development has sparked inquiries into the SEC’s actions and decision-making processes surrounding cryptocurrencies.
The Hinman documents cover the internal SEC correspondence relating to a speech given by former director William Hinman in 2018. Crypto analysts claims that the Hinman records present a picture of an organization that is more concerned with enlarging its purview than carrying out its core duty of safeguarding American investors:
One analyst pointed out that one of the unredacted Hinman documents showed that the Office of General Counsel of the SEC had accepted the potential that crypto would fall under an “other” category. This shows that cryptocurrencies are not classified as securities under the Howey test’s notion of a controlling organization because there isn’t one. Similar to other items like prescription drugs or credit cards, laws may still be necessary to protect consumers.
According to market analyst, the main problem is that while cryptocurrencies may have certain traits of securities, their essential qualities set them apart from conventional securities. As a result, although cryptocurrency regulation is essential, it shouldn’t be left entirely in the hands of securities regulators, who are seen as “power-hungry.”
Ripple and crypto industry react to Hinman document disclosure
Reports have it on good authority that the disclosure of the Hinman documents has opened a Pandora’s box of potential implications for Ripple and the greater crypto industry. “Now that these documents are public, it demonstrates the rabbit hole goes much, much deeper, and further document requests will be issued soon […] be it from other litigants, Congressional investigators, FOIA requests, etc
Important to remember as you read the Hinman documents today. Hinman and the SEC lied in court for over a year saying this speech was Hinman's personal opinion only. We had to piece together video of their own words to show they were lying. What are the repercussions for a US… pic.twitter.com/AF08HlYMTT
— Digital Asset Investor (@digitalassetbuy) June 13, 2023
According to analysts, other records that illuminate the circumstances surrounding Hinman’s speech and demonstrate the conceivable participation of numerous institutions and people in forming the story may be requested. Investigating SEC staff contacts regarding why Hinman disobeyed their advice to leave ether out of his speech is part of this process.
Although William Hinman, the former head of the SEC’s corporation finance division, received a lot of attention this week for his insider discussions that led to the creation of a five-year-old speech, there were never any formal commission-approved rules or guidelines regar...
View original post
Cryptopolitan
Hinman emails unveiled in Ripple case reveal internal deliberations on Ether's regulatory status: Details | Cryptopolitan
In a recent development in the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), previously undisclosed emails have
OKX expands into the Middle East with licensing approval
Cryptopolitan (RSS)
Cryptocurrency exchange OKX has obtained a minimal viable product preparation license from the Middle Eastern division, enabling its expansion into the Middle East. The license allows OKX to establish an office in Dubai’s World Trade Center and increase its local workforce to 30 employees. The crypto exchange emphasizes the importance of regulatory compliance and security in the current market climate.
OKX to offer spot, futures, and fiat services in Middle East expansion
According to reports, cryptocurrency exchange OKX’s Middle Eastern division has obtained a minimal viable product preparation license as part of its expansion plans in the Middle East.
In a notice dated June 15, the exchange stated that following the regulator’s licensing permission, the exchange expected to extend its employees in Dubai to 30 persons and had already established an office within the city’s World Trade Center structure. In July 2022, the crypto exchange received a provisional operating license from VARA, enabling it to provide goods and services in the area.
OKX has received an MVP Preparatory License from Dubai's VARA, marking a pivotal step in our strategic UAE expansion. 🎉
New hires, new office & extended partnerships—we're proud to shape the Web3 & crypto landscape in the Middle East. 🤝
Learn more: https://t.co/9Akhh88JP4 pic.twitter.com/HmHd8CMq4y
— OKX (@okx) June 15, 2023
OKX’s global head of government relations, Tim Byun, emphasized the importance of licensing in Dubai as a crucial component of the exchange’s global regulatory compliance strategy. Byun highlighted the need for virtual asset service providers (VASPs) to prioritize security, transparency, compliance, and strong regulatory backing in the current uncertain market environment.
According to the exchange the preparatory license provided the exchange with the regulatory wiggle room needed to meet specific standards before going live. The company announced its intention to offer spot, futures, and fiat services in addition to spot pairs, deposits, and withdrawals in U.S. dollars and United Arab Emirates dirhams.
Coinbase and other international crypto companies have attempted to investigate the UAE as a potential new market in light of the U.S. government’s crackdown on digital assets. Coinbase and Binance became the targets of separate lawsuits by the U.S. Securities and Exchange Commission in June. Letitia James, the attorney general of New York, declared that CoinEx would no longer be allowed to conduct business in the state.
According to the report, the expansion came after the crypto exchange declared that it would cancel its operations in Canada by June 22. On March 20, cryptocurrency exchange OKX announced via email to its Canadian users that it would cease providing services and restrict the opening of new accounts in Canada as of March 24, 2023, 12:00 AM EST. The decision was attributed to “new regulations.” OKX specified that existing customers in Canada must close their options, margins, perpetual, and futures positions by June 22 and withdraw any fiat or tokens by that date.
OKX selects France as a European hub, seeks regulatory approval
On May 23, the exchange chose France as its European hub. It had sought regulatory approval. According to reports, it will ultimately comply with French regulatory requirements once it registers with the Autor...
View original post
Cryptopolitan (RSS)
Cryptocurrency exchange OKX has obtained a minimal viable product preparation license from the Middle Eastern division, enabling its expansion into the Middle East. The license allows OKX to establish an office in Dubai’s World Trade Center and increase its local workforce to 30 employees. The crypto exchange emphasizes the importance of regulatory compliance and security in the current market climate.
OKX to offer spot, futures, and fiat services in Middle East expansion
According to reports, cryptocurrency exchange OKX’s Middle Eastern division has obtained a minimal viable product preparation license as part of its expansion plans in the Middle East.
In a notice dated June 15, the exchange stated that following the regulator’s licensing permission, the exchange expected to extend its employees in Dubai to 30 persons and had already established an office within the city’s World Trade Center structure. In July 2022, the crypto exchange received a provisional operating license from VARA, enabling it to provide goods and services in the area.
OKX has received an MVP Preparatory License from Dubai's VARA, marking a pivotal step in our strategic UAE expansion. 🎉
New hires, new office & extended partnerships—we're proud to shape the Web3 & crypto landscape in the Middle East. 🤝
Learn more: https://t.co/9Akhh88JP4 pic.twitter.com/HmHd8CMq4y
— OKX (@okx) June 15, 2023
OKX’s global head of government relations, Tim Byun, emphasized the importance of licensing in Dubai as a crucial component of the exchange’s global regulatory compliance strategy. Byun highlighted the need for virtual asset service providers (VASPs) to prioritize security, transparency, compliance, and strong regulatory backing in the current uncertain market environment.
According to the exchange the preparatory license provided the exchange with the regulatory wiggle room needed to meet specific standards before going live. The company announced its intention to offer spot, futures, and fiat services in addition to spot pairs, deposits, and withdrawals in U.S. dollars and United Arab Emirates dirhams.
Coinbase and other international crypto companies have attempted to investigate the UAE as a potential new market in light of the U.S. government’s crackdown on digital assets. Coinbase and Binance became the targets of separate lawsuits by the U.S. Securities and Exchange Commission in June. Letitia James, the attorney general of New York, declared that CoinEx would no longer be allowed to conduct business in the state.
According to the report, the expansion came after the crypto exchange declared that it would cancel its operations in Canada by June 22. On March 20, cryptocurrency exchange OKX announced via email to its Canadian users that it would cease providing services and restrict the opening of new accounts in Canada as of March 24, 2023, 12:00 AM EST. The decision was attributed to “new regulations.” OKX specified that existing customers in Canada must close their options, margins, perpetual, and futures positions by June 22 and withdraw any fiat or tokens by that date.
OKX selects France as a European hub, seeks regulatory approval
On May 23, the exchange chose France as its European hub. It had sought regulatory approval. According to reports, it will ultimately comply with French regulatory requirements once it registers with the Autor...
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OKX
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Korean crypto contagion, Bank of China on Ethereum, HK’s exchange red carpet: Asia Express
Cointelegraph.com News (RSS)
Hong Kong lays out welcome mat for exchanges, Korean crypto lender contagion, Do Kwon banged up abroad, Bank of China’s Ethereum debt note.
Cointelegraph.com News (RSS)
Hong Kong lays out welcome mat for exchanges, Korean crypto lender contagion, Do Kwon banged up abroad, Bank of China’s Ethereum debt note.
First Mover Asia: Hong Kong as Crypto Hub? The City's Strict Banking Requirements May Be an Obstacle
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
A Hong Kong-based entrepreneur says that while the digital assets regulation is "overall friendly" The city’s digital assets regulation is overall friendly, banking regulations are not yet conducive to the industry's growth. ALSO: Bitcoin surges post-BlackRock ETF filing.
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data (RSS)
A Hong Kong-based entrepreneur says that while the digital assets regulation is "overall friendly" The city’s digital assets regulation is overall friendly, banking regulations are not yet conducive to the industry's growth. ALSO: Bitcoin surges post-BlackRock ETF filing.
How $CatGPT And Other Startups Show What Happens When AI and Crypto Combine
Cryptopolitan (RSS)
Two of the most revolutionary technologies that have surfaced in the last ten years are Artificial Intelligence (AI) and blockchain technology. AI helps machines provide support to humans and decide, while blockchain technology is a decentralized ledger that enables safe, transparent, and tamper-resistant applications like cryptocurrencies. The combination of AI and crypto can revolutionize different sectors by improving their security, transparency, and efficiency.
Take the example of $CatGPT – $CatGPT is an AI-powered cat-led Ethereum token and NFT collection. It combines AI, blockchain technology, and a passionate community to reshape the Web3 space. $CatGPT aims to offer users a uniq...
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Cryptopolitan (RSS)
Two of the most revolutionary technologies that have surfaced in the last ten years are Artificial Intelligence (AI) and blockchain technology. AI helps machines provide support to humans and decide, while blockchain technology is a decentralized ledger that enables safe, transparent, and tamper-resistant applications like cryptocurrencies. The combination of AI and crypto can revolutionize different sectors by improving their security, transparency, and efficiency.
Take the example of $CatGPT – $CatGPT is an AI-powered cat-led Ethereum token and NFT collection. It combines AI, blockchain technology, and a passionate community to reshape the Web3 space. $CatGPT aims to offer users a uniq...
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