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Deribit, a leading cryptocurrency exchange, announces its expansion into the United States despite concerns over potential crypto regulation under the Trump administration. The move comes as a bold step forward for the exchange, aiming to broaden its reach and cater to the growing demand for crypto trading services in the US market. Despite the uncertain [...]
An interview with Graphite Method (Vincent DOnofrio & Laurence Fuller) by art historian Steven Reiss, about their latest artwork No Fear, No Greed, No Envy created using Inscriptions.
Just because you can do something doesnt mean you should, a state appeal court told the Florida Office of Financial Regulation.
The Doodles NFT token has experienced a slowdown after the recent airdrop, causing concern among investors and collectors. The sudden decrease in activity has puzzled many in the cryptocurrency community. The airdrop was intended to generate excitement and interest in the Doodles NFT project, but instead, it seems to have had the opposite effect. The [...]
The Office of the Comptroller of the Currency (OCC) has opened the door for banks to provide crypto custody services. This move comes in the wake of President Donald Trump’s decision to terminate Operation Chokepoint 2.0, a program aimed at restricting access to banking services for certain industries, including cryptocurrency businesses. The OCC’s decision to [...]
The post Rewrite the following title to make it more engaging and SEO-friendly while keeping its original meaning. Ensure the output is exclusively in English. OCC lays out crypto banking after Trump vows to end Operation Chokepoint 2.0 appeared first on Crypto Breaking News.
Recently, Representative Sean Casten expressed concerns about the potential national security risks posed by overly friendly regulations towards cryptocurrencies. He highlighted the importance of balancing innovation and security in the rapidly evolving digital asset landscape. Casten emphasized the need for robust regulatory frameworks that can address the unique challenges presented by cryptocurrencies, such as money [...]
The post How Crypto-Friendly Policies Could Jeopardize National Security: Insights from Representative Sean Casten appeared first on Crypto Breaking News.
Investors can now hedge against interest-rate risk in a DeFi environment by trading Secured Overnight Financing Rate (SOFR) swaps.
Crypto.com, the Singapore-based crypto exchange firm, has made a recent announcement after it pledged to publish “audited proof of reserve.”
Tesla and Spacex CEO Elon Musk has secured $7.139 billion in new financing commitments to fund his acquisition of Twitter, including from several pro-crypto companies. Cryptocurrency exchange Binance, for example, has committed to invest $500 million in the social media platform alongside Musk. Crypto-Friendly Companies Join Elon Musk to Buy Twitter Tesla CEO Elon Musk […]
A crypto-friendly special economic zone in Honduras has adopted bitcoin as legal tender, allowing the cryptocurrency to be used to pay taxes and fees. In addition, bitcoin bonds can be issued within its jurisdiction using “world-class standards for AML and KYC.” Bitcoin Operates as Legal Tender in Próspera Próspera, a special economic zone located on […]
Authorities in Belarus have no intentions to adopt stricter rules for the country’s crypto space. That’s despite neighboring Russia, a close partner in many areas, considering a blanket ban on ? number of activities related to cryptocurrencies as suggested by the central bank in Moscow. Belarus to Keep Favorable Crypto Regulations Officials in Belarus do […]
According to Russia's TASS news agency, Bank of Russia Deputy Governor Vladimir Chistyukhin signalled that private cryptocurrencies may soon go out of existence in the financial markets. (Read More)
According to court filings, cryptocurrency exchange, Bittrex, has been accused by Florida’s financial regulator of violating several laws within the state. These violations allegedly occurred prior to Bittrex Inc. filing for Chapter 11 in May. Related Reading: Solana Registers 20% Rise In Past Week, But Can SOL Keep This Up? Bittrex had made a request for an Automatic Stay, which would impede certain creditors from pursuing or continuing legal actions against a bankrupt estate. In response, Brandon Greenberg, Assistant General Counsel to the Florida Office of Financial Regulation (OFR), filed a statement opposing the request. The purpose of Greenberg’s filing is to challenge the implementation of the Automatic Stay. This would allow creditors to proceed with their actions against Bittrex Inc. as part of the bankruptcy proceedings. Greenberg highlighted in his statement that the financial regulator, the Florida Office of Financial Regulation (OFR), had already provided guidance and advice to Bittrex, regarding potential avenues for resolving the charges brought against them. Accusations Against Bittrex: What Led To The Regulatory Uproar? Bittrex Inc. faces several accusations which included the failure to separate customer assets from the company’s own capital. Not only that, the exchange, was also accused of inconsistent maintenance of an adequate surety bond. According to the filing, from October 2022 to March 2023, the OFR collaborated with financial regulators in Texas, Maryland, and Michigan to conduct a “multistate examination” of Bittrex Inc. This suggests that the regulators from multiple states worked together to assess and investigate the operations of Bittrex Inc. during that period before coming to their present conclusion. After conducting its investigation, the OFR filed a three-count complaint against the exchange platform on April 17, as stated by Greenberg in the filing on Wednesday. On the same day, the U.S. Securities and Exchange Commission (SEC) accused the company of violating federal laws by operating as a securities exchange, broker, and clearing agency. The OFR previously advised the company to engage in administrative procedures. It was suggested in order to help Bittrex to pursue a more substantive discussion and potentially explore options for a settlement. In his filing, Greenberg asserted that the Florida Office of Financial Regulation holds the authority to exercise administrative discretion. It can determine which violations to charge in their Administrative Complaint against the platform. Bittrex Ceased Operations Amidst “Uncertain Regulatory and Economic Environment” On March 31, Bittrex Inc. made an announcement stating its intention to wind down its operations in the United States. It cited concerns over the uncertain regulatory and economic environment. According to Greenberg, the company expressed disappointment with the enforcement action taken by the OFR back in April as they had hoped to surrender their license and exit Florida without such action. At that time, Bittrex Inc. did not disclose any plans to file for bankruptcy. However, on April 30, the company surrendered its money transmitter license. Related Reading: Bitcoin Cash (BCH) Registers 28% Gain – How Long Will It Last? Legal representatives for the exchange have combated the allegations. They said that although Bittrex may have faced regulatory issues in the past, they had been in compliance with Florida law since then. On May 8, Bittrex Inc. filed Chapter 11 in the state of Delaware. Featured image from EarthWeb, chart from TradingView.com
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