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The European Systemic Risk Board has recommended increased disclosures and monitoring as measures to combat the risks associated with the cryptocurrency market.
This alarm follows concerns have been raised about the potential impact of a sudden crisis AlarmBankPosedPotentialRaisesStablecoinsThreats Read More
Bloomberg reported on Monday that Circle tipped off the New York Department of Financial Services (NYDFS) in the fall of 2022, complaining that blockchain data revealed Binance did not have enough reserves to back up the BUSD tokens it had issued through Paxos. Bloomberg cited a source familiar with the AlarmBackedBinancesBloombergCircleFullyNYDFSPaxosSoundedStablecoinToldWasnt Read More
"For four years, under my leadership as Chairwoman, the Committee on Financial Services has led the way in examining and investigating the cryptocurrency marketplace. This includes the Committee’s formation of Congress’ first-ever Task Forces on Financial Technology and Artificial Intelligence, along with the working group on digital assets. In addition, AlarmCollapseFTXLawmakersSparks Read More
“Imagining a scenario in which a large retailer would enable crypto-assets as a payment option, or a leading tech company would introduce crypto-asset based peer-to-peer payments, consumer exposure could soar in a short period of time, strengthening the link” between the crypto and conventional financial realms, the document said.
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BNB Chain, a blockchain network created by crypto exchange Binance, identified over 50 on-chain projects that pose a significant risk to the users. A mix of crypto spin-offs resembling Dogecoin (DOGE) and Binance and others dedicated to pandas, cyborgs and koalas made the list as untrustworthy and high-risk projects.BNB Chain’s AlarmBitcoinBNBchaincryptoexchangecyborgsDogsdominateExchangesFlagkoalasListPandasRed Read More
Still, lawmakers want assurances from Yellen that the Office of Foreign Assets Control (OFAC), which enforces U.S. sanctions rules, will be able to maintain the blocks against Russian banks and oligarchs. Wednesday's letter asked Yellen and OFAC to provide responses to five questions about the agency's work, including whether decentralized AlarmCastCryptoDoubtEvasionExpertsLawmakersRaiseSanctions Read More
Senators Jim Risch, Bob Menendez and Bill Cassidy's Accountability for Cryptocurrency in El Salvador (ACES) Act would require a State Department report on mitigating risks to the U.S. financial system from El Salvador's adoption of bitcoin as legal tender.
Original Source adoptionAlarmBipartisanBitcoinProposalRaisesSalvadorsSenate Read More
In a period of market downturns, rumors of crypto bans and decentralized finance, or DeFi scams, blockchain enthusiasts can be sensitive to the smallest abnormalities within projects they follow and sometimes erroneously fear for the worse. The day prior, CertiK, a leading cybersecurity ranking platform in the blockchain space, issued AlarmCarsCertiKsCryptoFalseIdentificationPullRug Read More
A major financial regulator in Spain has put out a warning regarding soccer star Andrés Iniesta for promoting major cryptocurrency exchange Binance.Iniesta, a prolific midfielder who has played for Barcelona and the Spanish national team, was promoting Binance on his social media profiles on Instagram and Twitter.On Wednesday, Iniesta posted AlarmBinanceIniestapromoRaisesRegulatorSoccerSpanishStar Read More
Avanti Bank and Trust CEO Caitlin Long has posted a rebuttal to a recent New York Times article claiming that crypto and decentralized finance is “disrupting the banking industry” so fast regulators can’t keep up.Disrupting traditional finance is exactly what crypto and DeFi aspires to do, but the piece titled AimAlarmArticleCaitlinCryptoLongTakesTimesYork Read More