Cryptocurrency Analysis and News Portal
Two United States lawmakers have criticized crypto accounting guidelines outlined by the securities regulator, arguing it places crypto customers at greater risk of loss.The guidelines came from the United States Securities and Exchange Commission (SEC), which became effective in April last year. The guidelines ask financial companies holding crypto for
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U.S. Rep. Patrick McHenry (R-N.C.), the chairman of the House Financial Services Committee, and Sen. Cynthia Lummis (R-Wyo.), who has authored crypto legislation, sent a letter to several banking agencies on Thursday asking how they’re dealing with a controversial bulletin from the Securities and Exchange Commission that advised financial institutions
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Grayscale says it’s preparing to argue in court next week that the Securities and Exchange Commission (SEC) inappropriately treated its bitcoin exchange-traded fund (ETF) bid differently than earlier decisions on futures ETFs, according to the company’s legal team. Source
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SBF remains under house arrest after posting a $250 million bail bond back in December.Sam Bankman-Fried (SBF) the embattled founder and former Chief Executive Officer of bankrupt FTX Exchange is set to appear in court today to start the criminal proceedings on his fraud charges where he is expected to
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Dorsey, a federal judge with the U.S. Bankruptcy Court of Delaware, said he approved of letting the media organizations, which also include the Financial Times and Dow Jones, intervene in favor of transparency, with a fuller hearing to be held in January. Source
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United States prosecutors have opposed a motion by a former employee of nonfungible token (NFT) marketplace OpenSea to remove “insider trading” references from his charges.Prosecutors said the phrase accurately describes the crimes the former OpenSea product manager Nathaniel Chastain is accused of in a memo filed on Oct. 14. It
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Professors from The University of Sydney say that as governments consider different initiatives, they are overlooking crypto’s social and cultural significance; bitcoin and other cryptos rise. Original Source
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Simply shifting the cost curve to up-front cost might lead to the exact opposite centralization problem. Instead of most bitcoin mining ending up near cheap, abundant energy sources that popped up in developing, labor-abundant countries, like China, they might coalesce in developed, capital-abundant countries, like the United States. Specialized mining
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On a Zoom call with traders in January, co-President Daniel Pinto suggested he was open-minded about bitcoin. Source
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