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“If we learned anything from 2022, particularly with FTX, it’s the fact that custodial relationships, especially in the face of lack of regulation, are very bad,” said Ozdogan. “Too many users have lost assets to bad actors and in turn, the custodial nature of centralized exchanges.In the world of digital
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Formula 1 team Williams Racing signed U.S. crypto exchange Kraken as a sponsor after losing one of its most prominent drivers, Nicholas Latifi, who reportedly earned the team a large amount of sponsorship fees. Original Source
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Banking enforcement targeting legal crypto businesses appears to violate the FDIC's mandate. It may also be amplifying financial contagion. Source
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The Public Company Accounting Oversight Board (PCAOB), which is authorized and overseen by the U.S. Securities and Exchange Commission (SEC) and funded by audited public companies, acknowledged the potential problem with crypto auditing to the lawmakers, including Sen. Ron Wyden (D-Ore.), chair of the Senate Finance Committee. Source
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Despite the recent crackdown by the U.S. Securities and Exchange Commission (SEC) on staking services offered by centralized providers, Coinbase has reiterated to customers that its staking services will continue, and “may actually increase.”In a new customer email, highlighted by popular traders such as @AltcoinPsycho via Twitter on March 10,
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Britain’s top financial regulator, the Financial Conduct Authority (FCA), has widened its crackdown on unauthorized cryptocurrency ATMs. “There are currently no crypto ATM operators registered with the FCA, which they must be to operate legally,” the regulator noted. FCA Cracks Down on Illegal Crypto ATMs Britain’s top financial regulator, the Financial Conduct
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Cryptocurrency exchange Coinbase announced it will suspend trading and delist the Paxos-managed stablecoin asset BUSD. The decision follows Paxos’ revelation that the New York State Department of Financial Services directed the firm to stop issuing the U.S. dollar-pegged token BUSD. Coinbase to Suspend BUSD Stablecoin on March 13 On Feb. 27, 2023,
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The SEC’s recent actions shut down centralization staking services, but not individual staking and decentralized staking services. That could increase decentralization and help restore crypto’s original mission. Source
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The community of decentralized finance stablecoin protocol Frax Finance has voted to fully collateralize its native stablecoin Frax (FRAX), marking an end to the algorithmic backing of the protocol.The FIP-188 governance proposal — which would change the collateralization model of FRAX — initially posted on Feb. 15 has now reached a
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The SEC crackdown on the crypto space has dampened sentiments among institutional market players. Bitcoin-related investment products saw the highest outflows. As we know, the US Securities and Exchange Commission (SEC) has tightened its grip on the crypto market since the beginning of 2023. The latest crackdown among the SEC
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