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United States Securities and Exchange Commission (SEC) Chair Gary Gensler has called for “new tools, expertise, and resources” aimed at addressing misconduct in the crypto space in the regulator’s 2024 budget request.In prepared testimony for a July 19 hearing of the Subcommittee on Financial Services and General Government with the
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United States Senator Jack Reed sponsored a bipartisan bill introduced into the Senate on July 18 that would tighten Know Your Customer and Anti-Money Laundering (KYC/AML) and sanctions requirements for decentralized finance (DeFi). According to a news release on Reed’s website, the bill is titled the Crypto-Asset National Security Enhancement
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Synthetix, a DeFi project in the crypto space, is preparing to expand its range of affiliated products.Kain Warwick, the founder, revealed intentions to introduce a new derivatives front-end called Infinex to the decentralized trading infrastructure of Synthetix. The upcoming exchange, Infinex, will cater to both novice and experienced traders by
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Zac Prince, the CEO of bankrupt cryptocurrency lending firm BlockFi, allegedly disregarded recommendations from the company’s risk management team over lending assets to Alameda Research. According to a July 14 filing with United States Bankruptcy Court for the District of New Jersey by the unsecured creditors' committee, BlockFi’s risk management team reported on
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“If a reconciliation error occurs, the blockchain will stop producing new blocks, impacting downstream services such as bridges, deposits, and withdrawals on exchanges,” developers wrote on GitHub. “This drastic action is necessary to protect the chain and its users, so core developers and community members should investigate the issue as
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Bank of International Settlements (BIS) recently showed skepticism about the potential role of crypto in the global monetary framework, citing flaws that originate from the incentives of validators rather than the technology itself. In a comprehensive
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Stablecoin has a lot of potential to harm emerging markets and developing economies, the Reserve Bank of India (RBI) claimed in its latest Financial Stability Report, released June 28. The report listed six threats that stablecoin presents.The RBI has been a steadfast critic of cryptocurrency, but it was particularly articulate
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Democrats with the United States House Financial Services Committee have introduced several bills in what they described as the “first wave” of legislation aimed at addressing failures at major banks.In a June 21 announcement, committee ranking member Maxine Waters said House Democrats had backed 11 bills drafted in response to
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The metaverse continues to expand, with industry giants and upcoming players racing to seize a slice of the potentially trillion-dollar pie. Close to $2 billion was invested in blockchain-based metaverse deals in 2022, according to Cryptox Research’s VC database. A 2022 report by McKinsey estimated the metaverse industry to potentially generate
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Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Given the rise in interest towards central bank digital currencies, their usage will continue to increase. This is despite the recent turmoil about the recent depegging of
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