July 2023 - CryptoCurrencyWire

MondayJul 31, 2023 12:00 pm

GOP Cryptocurrency Bill Divides Congressional Democrats

A major legislative proposal aimed at revamping the regulations surrounding cryptocurrency has caused a rift among senior Congressional Democrats, opening up an opportunity for Republicans to advance their own legislation with some potential bipartisan support. During a recent meeting of the Financial Services Committee, House Democrats showed their divided stance on a Republican-led measure that seeks to establish federal mandates for regulating digital asset trading, specifically overseen by the CFTC and the SEC. Representative Maxine Waters, who is the top Democrat on the committee, vigorously criticized this bill, saying it’s a wish list favoring major players in the crypto industry.…

FridayJul 28, 2023 10:30 am

Why Texas Is on Cutting Edge of Crypto Mining

Texas has become a significant crypto-mining hub globally, mostly as a result of its fortunate combination of inexpensive electricity and a forgiving regulatory climate. A number of measures have recently been passed and have the potential to put the Lone Star state at the forefront of the development of crypto policy. The crypto-mining process uses supercomputers to solve extremely difficult mathematical puzzles to validate cryptocurrency transactions. Incentives such as cryptocurrency are given to miners as compensation for their efforts in resolving these issues. However, it is impossible to ignore how energy-intensive cryptocurrency mining is. According to 2021 research by The…

WednesdayJul 26, 2023 11:15 am

Indonesia Unveils New Clearing House, Bourse for Cryptos

Indonesia has recently introduced a national platform for crypto assets, aiming to bolster investor protection and furnish regulators with comprehensive transaction records. This move comes as the government seeks to fortify supervision of the thriving sector amid a shift in regulatory oversight, as stated by the Commodity Futures Trading Regulatory Agency (Bappebti). Indonesia permits crypto investment but bans the use of these digital assets for payments. Notably, the sector experienced a significant surge while the pandemic raged. As of June 2023, the number of people investing in digital assets reached an impressive 17.54 million, surpassing the count of registered investors…

TuesdayJul 25, 2023 4:31 pm

European Blockchain Convention 9, Set to be Europe’s Largest Blockchain Event in 2H 2023

Barcelona, Spain — European Blockchain Convention 9 is set to be Europe's largest blockchain event in 2H 2023, surpassing all its previous editions since the event was launched in 2018. Ready to welcome 5,000 attendees, EBC9 is scheduled for October 24-27, 2023 at the vibrant city of Barcelona, ahead of the highly anticipated El Clasico clash between FC Barcelona and Real Madrid over the weekend. A roster of 300 founders, CEOs and industry experts are scheduled to give talks at the event, including: Lars Bakke Krogvig - Co-Founder at Nansen Ambre Soubiran - CEO at Kaiko Manuel Nordeste - VP,…

MondayJul 24, 2023 11:15 am

Nasdaq Halts Plans to Start Cryptocurrency Custody Business

Adena Friedman, NASDAQ CEO, recently announced that the exchange has made the decision to postpone the launch of its crypto custody business in the United States. Friedman attributed the reason behind the move to the everchanging business and regulatory landscape in the country. As a result, the company has decided to halt its attempts to acquire the necessary license for the custody service. “However, NASDAQ remains committed to advancing in the digital asset space. We will focus on developing and delivering technology solutions, solidifying our position as a leading provider of digital asset software solutions in the global market,” she…

FridayJul 21, 2023 10:30 am

How the Ripple Court Victory Could Impact Other Cryptos

A recent court ruling on the SEC/Ripple case brought a wave of celebration within the crypto industry. Judge Analisa Torres delivered a significant verdict by declaring that XRP should not be categorized as a security. Many crypto enthusiasts perceive this ruling as an encouraging sign that similar assets will thrive in the United States. However, legal experts caution that further regulatory clarity is still necessary. Bitcoin, as a commodity, benefits from a clearer regulatory framework and oversight from specific agencies. Unfortunately, this is not the case for the majority of cryptocurrencies. The U.S. Securities and Exchange Commission (SEC) argues that…

WednesdayJul 19, 2023 11:15 am

Ripple Labs Wins Landmark Suit Filed by the US SEC

In a significant legal win for the crypto sector, Ripple Labs’ sale of its XRP token on open markets was found to have not breached federal securities legislation. The ruling was made by Judge Analisa Torres, and it represented the first win for a cryptobusiness in a legal battle instituted by the U.S. Securities and Exchange Commission (SEC). Despite being unique to this case, the ruling is anticipated to benefit other cryptocurrency companies engaged in similar legal disputes with the SEC over regulatory issues. Brad Garlinghouse, Ripple’s CEO, welcomed the decision as a big victory for both Ripple and the…

MondayJul 17, 2023 9:00 am

Author of ‘Rich Dad, Poor Dad’ Foresees End of USD Dominance as Crypto Grows

Robert Kiyosaki, author of the highly acclaimed personal finance book “Rich Dad, Poor Dad,” expressed a pessimistic view toward the U.S. dollar following reports that BRICS nations have reached an agreement to introduce a currency backed by gold. The BRICS alliance comprises Brazil, China, Russia, India and South Africa, with recent indications suggesting that an additional 41 countries have expressed interest in joining this alliance, according to reports from RT. The agreement, which was disclosed by Russia Today last week, is expected to be officially announced in August during a summit in Johannesburg, South Africa. In response to this development,…

FridayJul 14, 2023 10:30 am

Standard Chartered Expects Bitcoin to Climb to $120,000 Next Year

According to Standard Chartered, the main cryptocurrency, Bitcoin, has the potential to rise to $50,000 in value this year and an impressive $120,000 in 2024. The bank believes the recent uptick in Bitcoin's price may motivate miners to hoard more of the coins they find. This forecast is a revision of the bank's earlier prediction made in April, where it anticipated Bitcoin to reach $100,000 next year. Geoff Kendrick, one of Standard Chartered's leading foreign exchange analysts, believes that their initial forecast has a 20% "upside." According to Kendrick, miners are able to put on the market fewer coins while…

WednesdayJul 12, 2023 5:08 pm

Digital Securities and Tokenization 2023 (DST23) | July 13th, 2023 | Frankfurt School of Finance & Management

With over 300 on-site and more than 2,000 online participants, 45+ speakers, 10+ panel discussions, 10+ keynotes, and 15+ company booths, the Digital Securities and Tokenization 2023 conference (DST23) will take place on July 13th, 2023. The integration of crypto jargon into everyday business is leading to a swift and unprecedented evolution and maturation of the digital asset landscape. Tokenization is reshaping the conventional notion of ownership, while blockchain technology is being utilized in various ways, especially in the field of digital securities. The potential offered by these disruptive innovations is vast, and it is unimaginable for industries to envision…