Cryptocurrency Analysis and News Portal
“Cryptocurrency was supposed to break from the traditional financial system, and all of its fragility and vulnerabilities,” said Goldsmith Romero, who occupies one of the Democratic seats on the five-person commission that oversees derivatives trading. “However, this spring, unregulated crypto markets revealed their vulnerabilities to similar financial stability risks as
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“[With Kollider] you don't have to overcollateralize, you simply put in the base amount that you're going to hold long. You're simultaneously short on that, so your exposure is zero; even if the price moves in either direction,” Myles Snider, Kollider’s head of marketing and business development, explained in an
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The People’s Bank of China (PBOC) has reminded financial technology (fintech) firms to comply with financial laws and regulations, in the central bank’s new set of guidelines released earlier this month.See related article: China has seen blockchain’s future and it doesn’t include cryptocurrencies Fast factsThe PBOC’s “Ethical Guidelines on Technology in
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UK lawmakers want crypto assets to be brought into the fold of the country’s regulatory framework for financial assets.It’s another win for the crypto industry as UK lawmakers have agreed on a new amendment to the existing crypto regulations. Per the agreement, the lawmakers will now recognize crypto assets as
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The House of Commons, the Parliament's lower house, met on Tuesday for a line-by-line reading of the proposed Financial Services and Markets Bill, which broadly covers the U.K.'s post-Brexit economic strategy. The lawmakers considered a list of proposed amendments to the bill, including one put forward by parliamentarian Andrew Griffith
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Since MicroStrategy’s pivot to Bitcoin, the company has managed to accumulate 130,000 Bitcoins, worth just over $3.406 Billion at current rates.MicroStrategy’s Bitcoin acquisition was financed through multiple debts and bond offerings.Bitcoin’s dip to $18,300 on 13 October may have temporarily jeopardized the company’s financial health.MicroStrategy’s first debt repayment is due
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An amendment to the Financial Services and Markets Bill now before the United Kingdom's Parliament would extend the law’s powers to regulate financial promotion and other activities to crypto assets. The amendment was written by Member of Parliament and Financial Secretary to the Treasury Andrew Griffith. The 335-page bill was introduced
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Crypto lender Celsius Network's legal journey has gained another chapter as Bitcoin (BTC) miner Core Scientific accused the company of refusing to pay its bills since filing for Chapter 11 bankruptcy, according to court papers filed on Oct. 19. Core Scientific, which is one of the largest publicly traded crypto companies, claims
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According to a general notice published in a government gazette, crypto assets are now treated as financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial products means crypto asset service providers (CASP), such as exchanges, must apply for a license.
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The change, which takes effect immediately and falls under the Financial Advisory and Intermediary Services Act, 2022, comes as countries around the world are moving to regulate cryptocurrencies more strictly, particularly amid the recent volatility in prices and the collapse of several important crypto firms. Original Source
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