Tag Archives: Cryptocurrency News

The growth of BNB and the underlying chain is largely connected with the ongoing regulatory scrutiny, especially in the United States The BNB Smart Chain (BSC), a leading smart contract blockchain developed by the leading centralized exchange Binance with about $4.45 billion in total value locked, is expected to have a hard fork on its mainnet at block height 29,020,050. Through the current block generation speed, Binance Chain core developers expect the Luban hard fork to take place on...

The ESRB recommended restrictions on crypto firms’ lending to clients, especially for leveraged bets, and suggested higher collateral requirements for distributed finance products and stablecoins. On Thursday, May 25, an EU watchdog – the European Systemic Risk Board – recommended that European authorities should curb leveraged bets on digital assets by introducing limits for investment funds and exchanges. Over the last few years, with the growing number of market participants, crypto...

Kwon is currently expected to show up in court on June 16. The value of Kwon’s property was based on a statement alone, lacking concrete evidence. As a result, the high court has ruled against his bail. The requests to bail out Do Kwon, co-founder of the defunct Terra Labs, were rejected due to insufficient document verification. After a lower court reviewed the documents, a bail motion was made but was ultimately rejected by the high court due to improper property valuation. As a result,...

The deal is yet to be finalized as an initial deposit is expected within the next ten days. It is a good day for the embattled crypto lender Celsius Network as crypto consortium Fahrenheit LLC has won the bid to acquire the insolvent firm whose assets were previously valued at $2 billion. According to a May 25th court filing, the Arrington Capital-backed group emerged as the successful bidder after beating NovaWulf Digital Management. Markedly, Fahrenheit is a conglomerate of buyers which...

Japan will implement stricter rules for exchanges, including the implementation of the FATF travel rule, to combat money laundering and ensure transparency in cryptocurrency transactions. On May 23, Japan announced that it will implement stricter measures against money laundering (AML) in cryptocurrency transactions starting from June 1, in order to comply with global regulations. According to Kyodo News, the decision to strengthen the regulations was made after a review of relevant laws...

Dan Berkowitz, a former commissioner of the CFTC and former general counsel at the SEC, hinted that it is possible to categorize Ethereum as both a commodity and a security. As cryptocurrencies grow more popular, there is a rising need for clarity about their legal status, as many people see them differently based on the regulatory provisions within their jurisdiction. In what seems like an addition to the ongoing talks about the regulatory status of Ethereum, Dan Berkovitz, a former...

WaaS (Wallet as a Service) reportedly employs cutting-edge multi-party computing (MPC) technology to safeguard the private keys of its users. Coinbase has announced that it released and launched a new Web3 wallet solution dubbed “Wallet as a Service” (WaaS) on the Ethereum mainnet. The new service, a version of the crypto firm’s cloud product, went live on May 23 and utilizes a multi-party computation (MPC), according to a Twitter announcement from a software developer at the company. The...

The report says that macro drivers favor MicroStrategy shares in terms of the de-dollarization of the world economy. The German investment bank Berenberg said that investors seeking exposure to cryptocurrencies are better served if they buy the shares of MicroStrategy than those of Coinbase. A Monday report revealed to the media said that macro factors associated with the shares of MicroStrategy Inc (NASDAQ: MSTR) give investors a higher possibility of being in profit than if they went for...

Bitget secured regulatory licenses as a virtual asset service provider in Poland and Lithuania, witnessing significant growth and positioning itself among the Top 4 centralized crypto exchanges. Earlier on Tuesday, May 23, crypto exchange Bitget announced that it has successfully registered as a virtual asset service provider (VASP) in Poland. Securing this regulatory license will allow Bitget to operate legally in the Polish market. Amid the current market scenario, Bitget has been...

Hong Kong will open crypto trading activities to retail investors starting June 1, 2023. Hong Kong’s Securities and Futures Commission (SFC) has released the results of its consultation paper on regulating crypto assets in the country. In an announcement on May 23, 2023, the financial watchdog said it received 152 submissions from key players in the industry, professional associations, and consultancy firms, greenlighting its proposal to allow licensed crypto exchanges to serve retail...