South Korea’s Financial Services Commission (FSC) has issued a statement that could significantly impact the local crypto market. The FSC has suggested that domestic securities firms’ brokering of US spot Bitcoin Exchange-Traded Funds (ETFs) might contravene South Korea’s regulations on virtual assets and the Capital Markets Act. This statement was made in response to the […]
U.S. Senators Ron Wyden and Cynthia Lummis have called for an investigation into the U.S. Securities and Exchange Commission (SEC) following a security breach. The lawmakers penned a letter to the SEC’s Inspector General, Deborah Jeffrey, on January 11, requesting an inquiry into the breach that took place two days prior and the agency’s failure […]
In a significant development, crypto firms faced substantial regulatory action last year, collectively paying nearly $6 billion in fines. These fines were primarily due to Anti-Money Laundering (AML) violations and deficiencies in customer checks. For the first time, crypto and fintech groups experienced higher fines for inadequate controls than the entire traditional financial system.The total […]
The U.S. Securities and Exchange Commission’s (SEC) position on an Ethereum-based exchange-traded fund (ETF) is currently a hot topic among financial analysts and major investment firms. Despite the widespread anticipation, JPMorgan has voiced doubts about the SEC’s approval of a spot ETF by May 2024, unless Ethereum is classified as a commodity.The SEC has been […]
The chairman of the Securities and Exchange Commission (SEC) has reiterated his criticisms of Bitcoin (BTC), despite recently approving a number of exchange-traded funds (ETFs) for the cryptocurrency. In an interview with CNBC, the chairman argued that Bitcoin’s use cases are limited, often associated with illicit activities, and have ironically trended toward centralization over time.Bitcoin’s […]
SEC Chair Gary Gensler has labeled the approval of Bitcoin ETFs as ‘ironic’ due to their centralized nature, which contradicts the decentralized vision of Bitcoin’s creator, Satoshi Nakamoto. In a recent interview on CNBC’s “Squawk Box”, Gensler delved into the reasons behind the SEC’s approval of these ETFs and addressed concerns raised by Senator Elizabeth […]
In a surprising turn of events, Binance Coin (BNB) has slipped to the 13th position in the liquidity race in Q4 2023, despite being the third-largest cryptocurrency by market capitalization. This development has raised questions about its overall liquidity. The data, released by Kaiko on January 11, shows that Bitcoin (BTC), Ethereum (ETH), XRP, and […]
In the evolving landscape of post-spot Bitcoin ETF (Exchange Traded Fund), industry players are strategizing to gain a competitive edge. These strategies are either aimed at capturing direct market share or using an indirect approach.Asset manager CoinShares has made a significant move to strengthen its position in the U.S. market by announcing its decision to […]
The Monetary Authority of Singapore (MAS) is set to receive expanded powers under a new bill currently before the country’s parliament. This could have a significant impact on cryptocurrency firms. The Financial Institutions (Miscellaneous Amendments) Bill 2024 aims to expand MAS’ powers to issue directions to capital markets services licence holders (CMSL holders) that conduct […]
Increasing numbers of U.S. Congress members are urging the Securities and Exchange Commission (SEC) to provide details on a hack that led to a false announcement being posted on X (formerly Twitter) about the approval of a spot Bitcoin exchange-traded fund. Senators Ron Wyden and Cynthia Lummis, in a letter dated January 11, called on […]
