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Regulation

Trading for Bakkt Bitcoin Futures Goes Live But Bitcoin Price Tanks Below $10,000

ICE‘s Bakkt platform has finally announced its Bitcoin Futures contracts going live today, September 23. Bakkt‘s Bitcoin Futures launch comes as per its earlier announced schedule after the U.S. Commodities and Futures Trading Commission (CFTC) gave the exchange a green signal last month.We’re live!The first Bakkt Bitcoin Futures trade was executed at 8:02pm ET at a price of $10,115— Bakkt (@Bakkt) September 23, 2019As part of the announcement, Bakkt provides two contracts – Bitcoin Daily...

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SEC Commissioner Hester Peirce aka ‘Crypto Mom’ to Hold Q&A at Solidus Labs’ Compliance Summit

Photo: Crypto Compliance SummitSolidus Labs‘ one-day event, taking place at Hogan Lovells, Madison Avenue on Thursday, will culminate in a talk by reigning SEC Commissioner Hester M. Peirce.Also speaking at the event, which includes a series of panel discussions, will be Coinbase Chief Compliance Officer Jeff Horowitz and representatives from Circle, CryptoCompare, and David Weild IV, former Vice-Chairman of NASDAQ.Not Your Usual CommissionerCryptocurrency regulators aren’t often spoken of...

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Colombia Seeks to Up the Ante on Crypto Legislation

Latin American countries such as Colombia are top havens for bitcoin and cryptocurrencies. Unfortunately, what these countries don’t always have are the right regulatory tactics, but some are looking to change that. Is Colombia Looking to Change Itself?In the past, companies like Paxful have done their best to increase the number of bitcoin ATMs present in the country, and for the most part, they’ve been successful. In addition, Colombia has increased its use of altcoins like Ethereum and...

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U.S. Congress to Discuss Cryptocurrency With SEC Right After Bakkt is Launched

On Sept. 19, the Committee on Financial Services came to an agreement that the topic, “Oversight of the Securities and Exchange Commission: Wall Street’s Cop on the Beat,” would be the topic of discussion and Sept. 24 was chosen as the D-day, which is, just for a reminder, the day after Bakkt launch.This hearing will consist of the chairman of the SEC, Jay Clayton, Commissioner Hester Pierce, who is also known as Crypto Mom, and three other commissioners.Will Libra Make It Into the List of...

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Ripple Moves Court to Dismiss XRP’s Securities Lawsuit, But Fails to Answer Questions

San Francisco-based blockchain startup has been having a tough time this year with several investors complaining over the nature of XRP being a ‘security’. Recently, Ripple has moved to the court to dismiss the claims that it has violated any U.S. Securities laws.In its motion to dismiss, Ripple claims that Bradley Sostack, the plaintiff, doesn’t have any standing to register a complaint and claim that XRP is a ‘security‘. Further explaining, Ripple stated that the plaintiff failed to file...

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Ripple Files Motion for Court to Toss XRP Securities Lawsuit

Ripple, the cryptocurrency firm behind the XRP token, has requested a federal court dismissal of a class-action lawsuit; all while ignoring one major issue, XRP's security status. The original lawsuit was first launched back in early 2018, by a handful of disgruntled XRP investors. The plaintiffs claimed that Ripple violated securities laws during the initial offering of the token; stating that XRP was intrinsic to Ripple's operational integrity. The relationship between XRP and Ripple has...

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China’s Digital Currency Research Institute Exec Says Facebook’s Libra Can’t Be Stopped

Changchuan Mu within the educational lectures touches a range of cryptocurrency questions starting from the recently announced People’s Bank of China (PBoC) digital currency to the vast expansion of Facebook‘s Libra. Also, he compared Libra to the PBoC digital currency, stating that the Chinese new currency is even better than Libra in several aspects. Mu believes that at this point, Libra already might be unstoppable and that it is “highly unlikely” that someone can stop people from buying...

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Bitcoin Will Not Be Listed On Major Exchanges Without Better Regulation, Says SEC Chairman

Generally, the fact that the United States Securities and Exchange Commission (SEC) is not very supportive of the cryptocurrency industry is no longer news. The SEC has many times before, spoken out against cryptocurrencies because of their volatility and unregulated nature.Even efforts to launch Bitcoin Exchange-Traded Funds (ETF), have been largely unsuccessful as a few days ago, the Chicago Board Options Exchange (CBOE) withdrew its application to float the VanEck/SolidX Bitcoin ETF, just...

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Jay Clayton: Regulation Is the Answer to Bitcoin’s Problems

Jay Clayton, the Securities and Exchange Commission (SEC) chairman, doesn’t think bitcoin will ever be traded on a major exchange… That is, until serious regulation comes along. Without regulation, BTC, in his mind, will never achieve the mainstream status it so desperately longs for. Clayton: We Need More Rules for BTCAt press time, bitcoin’s primary attempt to become “legit” has suddenly dissipated, with CBOE, VanEck and Solid X withdrawing their bitcoin exchange-traded fund (ETF) from the...

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Binance Says Its Venus Stablecoin Would Be More Government-Friendly Than Facebook’s Libra

As the stablecoin race catches up, cryptocurrency exchange Binance wants to position its Venus stablecoin more aggressively. Taking a dig at Facebook‘s Libra, Binance said that the Venus will be a government-friendly alternative to the Libra Coin.Last month in August 2019, Binance unveiled its plans to launch stablecoins and other digital assets pegged to fiat currencies across the globe. This initiative is part of the company’s plan to form major partnerships and alliances with global...

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