Regulation

The United States Commodity Futures Trading Commission (CFTC) has welcomed a new member to its team. They have appointed Dorothy D. DeWitt, General Counsel of Coinbase‘s Business Lines and Markets and the vice president, as the director of the Division of Market Oversight (DMO).According to the CFTC’s announcement, at CFTC, Dorothy D. DeWitt will be responsible for supervision of derivatives platforms and swap data repositories, as well as evaluating new platform-traded products. Ms. DeWitt...

It seems Facebook’s woes are starting to mount as the European Central Bank (ECB) revives plans to create its own digital currency in direct competition to Libra and bitcoin. Yet another Libra challenger steps up to the plate. This time, it isn’t China’s incipient central bank digital currency (CBDC) but instead a newly proposed CBDC from the ECB. According to Reuters, speaking at a news conference after a meeting of EU finance ministers in Helsinki, ECB board member Benoit Coeure noted that...

Transferring more than $1,000 in bitcoin or any other crypto from one exchange to another could land your private details on the desk of the Financial Action Task Force (FATF). That is possible ever since the intergovernmental agency in June imposed new anti-money laundering standards on the cryptocurrency firms. The so-called ‘travel rule’ treats crypto exchanges, wallet providers, and similar firms no lesser than it acts towards a bank. Therefore, like traditional financial institutions...

As per the Financial Times report, members of the Libra Association will have a discussion today with 26 officials from global central banks as well as the Bank of England and the U.S. Federal Reserve. The discussions are likely to happen on the lines of Facebook‘s work on handling global regulations while maintaining absolute transparency and monetary security of Libra users.A European Central Bank’s (ECB) Executive Board member, Benoît Coeuré said that today’s meeting will be held in Basel,...

Photo: Ethereal / TwitterOn Sunday, the Ethereal Summit took place in Tel Aviv. The Summit is a global series of conferences focused on connecting leading companies and influencers shaping the future of blockchain. At the event, Ethereum founders Joseph Lubin and Vitalik Buterin were among the speakers. They commented on the development of the upcoming Ethereum 2.0 update and discussed possible collaboration with Facebook within their nascent cryptocurrency – Libra.Prospects of Ethereum...

Currently, the world’s fourth-largest cryptocurrency by market cap is Bitcoin Cash (BCH) and has been for a minute. Even at this position and with a market cap of $5.37 billion, not a lot is usually heard about BCH compared to its “senior colleagues” like Bitcoin (BTC), Ether (ETH) and XRP. However, Roger Ver is planning to do something about all of that dormancy as there are strong plans by Bitcoin.com, to increase BCH adoption through a futures project.According to David Shin, the head of...

Photo: ShutterstockOver the last one month, cryptocurrency exchange Huobi has been flexing its muscles to launch its IPO. The latest filing documents suggest that Hubo is planning for a backdoor entry to the Hong Kong Stock Exchange (HKEX).The filing dated September 10, mentions Hong Kong-based electronics manufacturer Patronics Holdings Ltd. Huobi acquired this company last August and has renamed it to Huobi Technology Holdings Ltd. Upon its acquisition, Patronics transferred over 220...

After months of regulatory scrutiny, VanEck-SolidX launched a limited version of its Bitcoin ETF last week. Not having the SEC approval to launch a full-fledged Bitcoin ETF, VanEck planned the limited ETF launch to prove that there’s actually some demand for this investment product in the market.However, it looks like VanEck hasn’t succeeded enough to make an impact in the market. Popular crypto analyst and commentator Alex Krüger recently released some data showing that the VanEck Limited...

It seems that France decided to go rigorous on Facebook’s Libra by entirely blocking the development of it. When Facebook announced their Libra project in June this year, they called it a “global currency and financial infrastructure powered by a version of blockchain – the technology that underpins Bitcoin”.However, a lot of governments were really against even the idea and France was the harshest of them all. French Finance Minister Bruno Le Maire then called out on Libra saying it...

Zhou Xiaochuan, former governor of the People’s Bank of China (PBoC), gave a speech related to cryptocurrencies at the 10th-anniversary celebration of Senior Finance at the Shanghai Jiaotong University. During this speech, he mentioned that the Central Bank was about to issue a legal digital currency and more than one month after the announcement of this Digital Currency/Electronics Payment (DC/EP), news spread quite wildly.Recently, Mu Changchun, the Deputy Director of Payments and...