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Lawyer explains what’s next in US crypto regulation

0xMain
February 15, 2023

Crypto, explains, Hacking, lawyer, regulation, whats

Blockchain Association policy head Jake Chervinsky has outlined the necessary steps the US crypto industry could take to nip the regulators’ enforcement action approach towards regulating the US Web3 space. He argued that neither the SEC nor the CFTC has the authority to...

USDC and BUSD market caps fall as regulators bash stablecoins

0xMain
February 14, 2023

bash, BUSD, caps, fall, Hacking, market, regulators, stablecoins, USDC

Stablecoins such as USD Coin (USDC) and Binance USD (BUSD) see their market capitalization fall following increasing regulatory scrutiny. Market data shows that BUSD’s market cap has fallen by 4.56% from $16.2 billion reported on Feb. 7 down to its current value of...

Bitcoin-friendly DBS Bank to offer crypto services in Hong Kong

0xMain
February 14, 2023

Bank, Bitcoinfriendly, Crypto, DBS, Hacking, Hong, Kong, offer, Services

DBS Bank has revealed that it’s seeking regulatory approval from Hong Kong authorities to offer crypto services to its regional customers. Last year, the bank recorded a four-fold surge in demand for its bitcoin (BTC) trading service. In a bid to take advantage...

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US SEC to vote on new rule overseeing crypto firms as qualified custodians

0xMain
February 14, 2023

Crypto, custodians, firms, Hacking, overseeing, qualified, rule, SEC, vote

Per a recent Bloomberg report, the commission is working on a draft proposal that would make it difficult for crypto firms to operate as “qualified custodians”. The US Securities and Exchange Commission (SEC) plans to propose new regulations this week that could affect...

Paxos to stop minting new BUSD stablecoin

0xMain
February 13, 2023

BUSD, Hacking, minting, Paxos, stablecoin, stop

Hours after the US Securities and Exchange Commission (SEC) had issued a Wells notice to Paxos, the issuer of BUSD, the company was reportedly told to stop issuing the stablecoin. New York regulator orders Paxos to stop new BUSD minting Changpeng Zhao, the...

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SEC to pursue Paxos for Binance USD stablecoin issuance

0xMain
February 13, 2023

Binance, Hacking, issuance, Paxos, pursue, SEC, stablecoin, USD

SEC has begun legal plans to sue Paxos for issuing and listing Binance USD, a well-known stablecoin in the crypto ecosystem. The financial watchdog argues that the firm’s token issuance violates investor protection laws. SEC trails Paxos The US Securities and Exchange Commission...

Coinbase to defend against staking services ban in court

0xMain
February 13, 2023

ban, Coinbase, court, defend, Hacking, Services, staking

Brian Armstrong, the CEO of Coinbase, made a remark on Twitter where he declared that Coinbase’s staking services are not securities. Armstrong also added that the company would gladly defend this position in court if necessary after rumors of a staking ban made...

US Congress asks SEC to release details on interactions between FTX, its founder, and DoJ

0xMain
February 12, 2023

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Representatives McHenry and Huizenga of the US House Financial Services Committee have voiced their concerns about the cooperation between the United States Securities and Exchange Commission (SEC)and the Department of Justice (DoJ). Representatives McHenry and Huizenga speak out The lawmakers have also expressed their disapproval...

Brazil’s oldest bank form partnership with a crypto platform for easy tax filing

0xMain
February 12, 2023

Bank, Brazils, Crypto, easy, filing, form, Hacking, oldest, partnership, platform, tax

Banco do Brasil, the oldest bank in Brazil, is creating a tax payment solution for citizens holding digital assets in Bitfy, a payments platform serving users in Latin America, according to a statement on Feb. 11. Following this deal, Bitfy will be responsible for...

Huobi to expand in HK, anticipates loose China crypto stance

0xMain
February 10, 2023

anticipates, China, Crypto, expand, Hacking, Huobi, loose, stance

The Huobi crypto exchange plans to increase its presence in Hong Kong, believing that the city’s pro-crypto tilt could signal an eventual relaxation of mainland China’s longstanding ban on digital assets. The information was conveyed by Justin Sun, an advisor at Huobi, in...