Crypto continues to battle tough regulations
A sticky situation persists in the crypto ecosystem as regulators pledge to ‘spring clean’ the entire industry. What started as a juvenile attack on crypto is now almost a full-blown annihilation of an industry whose promise at genesis was financial freedom.
The Hornet’s Nest Kicked Again: Wall Street Wants In On Bitcoin, Crypto
Crypto is a hedge against inflation and economic downturns. As central banks around the world continue to print money, you should be concerned about the long-term value of fiat currencies.
Belarus to ban peer-to-peer crypto transactions
Belarus is seeking to ban peer-to-peer crypto transactions, putting it on an extended list of countries that are unsatisfied with an unregulated crypto industry. The country’s Ministry of foreign affairs is working on a recommendation to prohibit some crypto activities there.
SEC debunks false allegations that Gary Gensler is resigning
SEC has communicated that Gary Gensler is not on the verge of resigning after rumors spread alleging that there had been an internal investigation. Gary Gensler has been receiving a lot of hate from the crypto space due to the extensive crypto crackdowns he has spearheaded with the SEC; as such, the rumor of his resigning does not come as a surprise.
South Korea passes crypto regulation bill that tackles unfair trading
A crypto regulation bill has been introduced in South Korea to protect its citizens from the exploitation of unfair cryptocurrency trade practices. The bill, Virtual Asset User Protection Act, was passed by the country’s National Assembly and is designed to provide more protection to South Koreans from illicit trading activities like undisclosed information and advertising, market manipulation, and other notable unfair practices.
Lawmakers in Canada propose a bill to support crypto industry
Canada has received a series of proposals that will directly impact the functioning of crypto organizations in the country. The proposals highlight the potential of blockchain technology in various sectors that also follow recommendations for the recommendation of the House of Commons or the government.
Bitcoin is a defense against “manipulation of the money supply”-Robert F. Kennedy Jr
In a June 28 tweet, Robert F. Kennedy Jr expressed that he would support Bitcoin and ensure that all US citizens have the right to hold their Bitcoin and make it inviolable. He added that it is a nice tool to save US citizens from totalitarianism and manipulation of the money supply.
Ripple acquires in-principle license for digital asset services in Singapore
Ripple has scored another regulatory win as it acquires an in-principle license to serve customers in Singapore. The Monetary Authority of Singapore (MAS) approved the approval per a June 22 statement.
US lawmakers introduce the National AI Commission Act
US lawmakers are pushing a bipartisan bill (National AI Commission Act) to regulate the emerging Artificial Intelligence industry and catch up with competitors like the EU while dealing with the risks involved. The bill seeks to create a commission under the Federal government and oversee AI building, distribution, and usage.
Binance faces more pain as the plan to be regulated in the U.K. falls through
Binance is set to endure more pain as its plan to get regulated in the United Kingdom as a replacement for the United States falls through. A report from its regional manager indicates that the exchange has had to de-register with the FCA but assured users that the process does not have an operational impact as it never did any regulated business in the U.K.
Do Kwon denies forging legal documents, blames Chinese agency
Do Kwon, the former CEO of the collapsed crypto empire Terra Ecosystem has told a court in Montenegro that he is innocent of using forged documents. Kwon expressed that he was unaware of his travel documents being fake.
Binance woes increase as it is forced to exit Dutch market
Binance has assured investors and regulators worldwide that it’s working hard to comply with new regulations like MiCA after being forced to leave the Dutch market. It says that it’s working hard to ensure that its business is fully MiCA compliant