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Tag Archives: United States

FinCEN Extends Comment Window on Proposed Crypto Regulations

With the initial deadline for comments long expired, FinCEN has decided to extend the comment period for its proposed controversial crypto regulation for an additional 15 days.FinCen Sets New DeadlineThe Financial Crimes Enforcement Network (FinCEN), an office of the U.S. Department of Treasury, announced the news of the extension via a press release on Thursday (Jan. 14, 2021). FinCEN’s earlier deadline was set on January 4, 2021.Following the different requests for extension, it appears...

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Following Coinbase And Bakkt: Winklevoss’ Gemini Reportedly Considers Going Public

Cameron and Tyler Winklevoss are reportedly exploring the option of making their cryptocurrency exchange Gemini public. The brothers could follow the steps of other US-based digital asset-related companies with similar intentions, such as Coinbase and Bakkt.Gemini To Go Public?Bloomberg reported today that the founders of the US-based crypto exchange Gemini are open to the idea of going public.“We are definitely considering it and making sure that we have that option. We are watching the...

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Jack Dorsey Defends the Ban on President Trump’s Twitter Account and Praised Bitcoin

Twitter’s CEO Jack Dorsey has issued a statement in which he defended the social media’s decision to ban the account of US President Donald Trump.Interestingly, the executive also took a moment to praise bitcoin’s decentralized nature, saying that the Internet should strive to be more like it.The History Of Trump’s Social Media BansNews broke last week when multiple social media platforms, including Facebook, Snapchat, and Twitter, permanently suspended the account of the still active US...

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New Users and Regulations: Coinbase Explains The Cause of Issues Amid Latest Bitcoin Price Volatility

The largest US-based cryptocurrency exchange Coinbase has issued a formal apology for users in the UK and the EU region. The company acknowledged that its services have been unstable because of the high number of new registrations and the latest regulatory requirements.More Users Led To Problems On CoinbaseCoinbase users located in the UK or the EU might have noticed that the services on the popular US exchange didn’t operate properly in the past two months. The platform displayed “partially...

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Founder of a $147M Crypto Ponzi Scheme Sentenced to 10 Years in Prison

Central District Court in California sentenced GemCoin founder Steve Chen to 10 years in federal prison. Chen has been announced guilty of being the mastermind and leader of a $147 million crypto Ponzi scheme that involved mining and digital currency fraud, and tax evasion.Over 70,000 Investors Defrauded with Gemstone-backed CryptoAccording to the US Department of Justice, 63-year-old Californian Steve Chen and a team of conspirators have masterminded the fraudulent endeavor that remained...

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The Week That Bitcoin Surged To $40,000: The Crypto Weekly Market Update

Over the past seven days, Bitcoin gained more than $11,000 to break above the coveted mark of $40,000. Meanwhile, the entire cryptocurrency market cap surged above $1 trillion for the first time in history.The week started off with bitcoin’s price trading around $29,000, but no one was expecting what happened next. Day after day, BTC continued charting new highs until, finally, it broke above the coveted $40,000 mark yesterday. The current all-time high sits at $42,000The move-up was also...

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Bitcoin Price Breaks $36,000 As Protesters Storm US Capitol

The last hour saw massive volatility on the cryptocurrency market, which coincided with serious tension and protest in the US Capitol. Ultimately, after a tumultuous hourly candle, Bitcoin managed to break $36,000 and chart a brand new all-time high.Bitcoin’s price saw serious volatility during the last couple of hours. It went on a roller-coaster, dumping to a low of about $34,300 on Binance.Ultimately, the price surged right back and is currently trading above $36,000 to mark a brand new...

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Corporate Money Could Start A Bitcoin ‘Torrent’, Says Hedge Fund Manager Bill Miller

US investor, fund manager, and philanthropist Bill Miller believes that the global economic situation could drive large corporations to allocate more funds into bitcoin. The former Chairman and CIO of Legg Mason Capital Management said that the BTC adoption curve is very yearly, although the asset’s market cap has surpassed some prominent names.Rat Poison But For Cash; Miller SaysThe 71-year-old investor is among the most well-recognized and respected hedge fund managers, known for managing a...

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Bitcoin Is Better Than Gold, SkyBridge Capital’s Anthony Scaramucci Joins the Club

Anthony Scaramucci, the founder of the global investment firm SkyBridge Capital that recently launched a Bitcoin fund, envisions massive gains for the cryptocurrency. Furthermore, the former investment banker at Goldman Sachs said that BTC is “better at being gold than gold is.”Bitcoin Is The Better GoldApart from founding his own investment company and working in the financial sector, Scaramucci also served as the White House Director of Communications briefly in 2017.More recently, he has...

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Jack Dorsey’s Square and a16z Slam FinCEN’s Proposed Crypto Regulations

Two more companies that could be affected by the recently proposed FinCEN crypto regulations, namely Square and Andreessen Horowitz, have confronted the legislation. Both believe that the industry requires clear rules but asserted that FinCEN has failed in its rushed attempt.Square Goes After The FinCEN Crypto RegulationsCryptoPotato reported recently that the US Treasury’s Financial Crimes Enforcement Network (FinCEN) came up with new regulations on Money Services Business (MSBs) that...

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