Uncategorized Archives - Page 9 of 136

WednesdayFeb 19, 2025 10:00 am

SEC Could Pause Many Lawsuits While Awaiting Crypto Regulatory Clarity

Binance and the Securities and Exchange Commission (SEC) jointly requested a pause in their ongoing lawsuit earlier this month. The filing referenced the newly established cryptocurrency task force and the expectation of clearer regulations, particularly regarding whether certain crypto assets should be classified as commodities or securities. The decision to pause legal action against Binance has increased speculation that similar lawsuits involving other crypto firms, initiated under the previous SEC leadership led by Gary Gensler, may also be put on hold. Throughout Gensler’s tenure, the agency faced criticism from policymakers and crypto industry stakeholders, who accused it of exceeding its…

FridayFeb 14, 2025 10:00 am

Hackers Promote Fake Crypto Using Social Media Accounts of Kenyan Police

The Kenyan Directorate of Criminal Investigations (DCI) announced on February 9 that it had successfully recovered access to its Facebook and X accounts which had been compromised by hackers. According to the law enforcement unit, the cybercriminals had used the accounts to promote a fraudulent crypto. Following the recovery of its accounts, the DCI stated that it had launched an investigation into the incident. The agency’s statement confirming the security breach came just hours after the hackers had introduced a cryptocurrency coin named DCI. Reports suggest that the cybercriminals attempted to lure Kenyans by presenting the token as a blockchain…

ThursdayFeb 13, 2025 10:00 am

BTC Demand Soars in Japan on Trump’s Crypto-Friendly Stance

The impact of President Donald Trump’s pro-cryptocurrency stance has triggered a surge in Bitcoin interest in Japan, leading one hotel operator to shift gears and reap substantial gains. Metaplanet Inc. has seen its stock skyrocket nearly 4,800% over the past year, making it the top-performing stock in Japan and one of the highest-gaining equities worldwide, according to Bloomberg data. The firm is among several companies attempting to follow in the footsteps of Michael Saylor’s firm, previously known as MicroStrategy Inc. Based in Tysons Corner, Virginia, the company has become a major Bitcoin investment vehicle, holding over $45 billion worth of…

TuesdayFeb 11, 2025 10:00 am

Why Trump-Linked WLF is Amassing Crypto

World Liberty Financial (WLF) has been making waves with its recent aggressive investments in cryptocurrency. In December, the company acquired over 4,000 AAVE tokens. Then, on Jan. 20, it made another major move, purchasing over $90 million worth of wrapped Ether and Bitcoin. Just last Thursday, the company spent upwards of $400,000 on digital assets issued by Ondo, a leading provider of U.S. tokenized Treasury bonds. Chase Herro, a co-founder of WLF, stressed that the investments were more than just speculative wagers during a Manhattan conference organized by Ondo. Herro also announced plans for a strategic reserve. “We’ve pooled a…

FridayFeb 07, 2025 10:00 am

MAGA Supporters Grumble Against Trump’s Meme Coin

Just days before he was set to take office as the next U.S. president, Donald Trump made a surprising announcement: he was launching a meme coin named after himself. His wife, Melania Trump, soon followed suit with her version. The move caught many in the cryptocurrency industry off guard, leading to immediate criticism. Ethics specialists also raised concerns about the implications of such a venture. While Trump’s core supporters did not react with the same level of outcry, there was still notable discontent. Some within the MAGA movement, particularly those who are also involved in the crypto space, felt uneasy…

ThursdayFeb 06, 2025 10:00 am

Kraken Obtains European MiFID License to Deal in Crypto Derivatives

Kraken has expanded its market share in Europe by obtaining a license under the EU’s MiFID. The announcement, made via the company’s blog on February 3, follows Kraken’s recent acquisition of a Cyprus-based investment firm that had secured authorization from the Cyprus SEC. The regulatory approval enables the exchange to offer fully compliant crypto derivatives to experienced investors in select European regions. Kraken’s Pro and Exchange division’s co-general manager, Shannon Kurtas, highlighted the exchange’s commitment to growing its services internationally, with Europe continuing to be a key focus. She underlined Kraken’s dedication to establishing a safe and regulated trading environment…

TuesdayFeb 04, 2025 10:00 am

French Investigators Start Probing Binance for Alleged Fraud

French officials have started a formal judicial investigation into Binance over tax fraud, money laundering, and other financial offenses allegations. The Paris prosecutor’s office, specifically its financial and economic crimes division (JUNALCO), revealed that the inquiry includes suspected money laundering linked to drug trafficking. The investigators are scrutinizing transactions and operations between 2019 and 2024 not only in France but across the European Union. Responding to the probe, a Binance spokesperson issued a statement via email rejecting all claims and emphasizing that the case dates back several years. This investigation comes in the wake of significant legal troubles for Binance…

FridayJan 31, 2025 10:00 am

SEC Revokes Divisive Rule That Kept Major Banks Away from Crypto

After persistent efforts by the cryptocurrency sector, the SEC has officially revoked an accounting directive that had previously required banks to show digital assets as liabilities on their financial statements. The directive had been a significant obstacle for major Wall Street financial institutions considering crypto investments. The repeal aligns with a series of policy changes introduced under the Trump administration, aimed at making it easier for financial companies in the U.S. to engage with decentralized digital currencies. The directive—SAB 121—was established in 2022 and placed stringent capital requirements on crypto assets. These regulations heightened both financial and compliance burdens associated…

ThursdayJan 30, 2025 10:00 am

Why the SEC’s Partial Win Against Kraken is Causing a Stir in the Crypto Industry

The U.S. Securities and Exchange Commission (SEC) has won a partial victory in its lawsuit against Kraken. While California federal judge William Orrick dismissed some of Kraken’s primary arguments, the ruling has sparked discussions about its potential impact on other crypto exchanges facing similar legal scrutiny. One of Kraken’s central arguments relied on the “key questions doctrine,” which holds that federal agencies like the SEC shouldn’t assume authority over significant matters unless specifically authorized by Congress. Kraken argued that the SEC lacked the legal grounds to regulate the cryptocurrency market in the way it had. However, the judge rejected this…

TuesdayJan 28, 2025 10:00 am

Morgan Stanley Pledges to Work with Regulators on Safe Cryptocurrency Solutions

Ted Pick, the CEO of Morgan Stanley, said on Thursday during the World Economic Forum held in Davos, Switzerland, that the bank is gearing up to work with U.S. regulators to investigate prospects in the crypto space. Addressing the challenges faced by traditional financial institutions in the rapidly evolving crypto space, Pick remarked, “For us, the question is whether a financial institution with as much regulation as ours can effectively operate in this area.” Pick stressed the significance of following regulations as the bank evaluates its strategy for the nascent cryptocurrency sector. Pick elaborated on Morgan Stanley’s strategy, emphasizing the…