Cryptocurrency Analysis and News Portal
The new legislation “is here to stay,” as, despite a review due to take place after three to six years, legally speaking the current, lighter rules will continue to apply by default, said Keller, who is at the commission’s Securities Market Unit. “It's very unlikely that the DLT pilot would
Read More
Do Kwon-founded Terraform Labs has again pointed the finger at market maker Citadel Securities for its role in an alleged “concerted, intentional effort” to cause the depeg of its stablecoin in 2022.On Oct. 10, Terraform Labs filed a motion in the United States District Court in the Southern District of
Read More
Now, three new amicus briefs, which allow parties who are interested but not directly affected by the case to aid the court’s reasoning, argue crypto is neither significant nor special, and that the SEC can take on digital assets under existing law. Source
Read More
Digital assets should not be seen as “somehow special,” nor should action against Coinbase be seen as “novel or extraordinary,” argues an association of North American securities regulators.In an Oct. 10 filing in the United States District Court for the Southern District of New York supporting the U.S. Securities and
Read More
The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 29, 2023. First Mover is CryptoX’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Read More
In a court filing, Circle argued that assets that are pegged to the U.S. dollar, like the Binance USD (BUSD) or its own stablecoin USDC, are not securities, partly because those who purchase the assets are not expecting any profit from acquiring them. According to Circle, payment stablecoins do not
Read More
“Payment stablecoins, on their own, do not have the essential features of an investment contract,” meaning they fall outside of SEC jurisdiction, Circle’s filing said. “Decades of case law support the view that an asset sale — decoupled from any post-sale promises or obligations by the seller — is not
Read More
According to the SCMP, four other companies have applied for licenses – HKVAX, HKBitEx, Hong Kong BGE Limited, and Victory Fintech Company Limited – but these are relatively small and unknown. Many major crypto exchanges have not signaled their intent to become licensed in Hong Kong. Source
Read More
The U.S. Securities and Exchange Commission (SEC) has accused Binance US of non-cooperation in a probe into alleged federal securities law violations. The SEC has raised concerns over using Ceffu, a custody service facilitated by the international arm of Binance. They believe this breaches a prior agreement designed to prevent the
Read More
More pertinently to advisors, perhaps, is what’s happening on the money market & treasury fund side and the private equity & private credit side - two very different investment profiles, yet two symbiotic cohorts here. Tokenized money markets and treasuries have now surpassed $650 million in collective AUM, essentially acting
Read More