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The platform said it took the "difficult decision" with its U.S. banking partner because of an "evolving regulatory environment" in the country. Regulators there, led by the Securities and Exchange Commission, have been cracking down on crypto, targeting exchange platforms like Coinbase (COIN) and Binance, as well as a host
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“Had Figure not withdrawn its application, both law and common sense would have dictated that regulators reject it,” said Jesse Van Tol, president and CEO of the National Community Reinvestment Coalition, in a statement that accused the company of making insufficient plans to meet a bank’s customary obligations under the
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Ripio users in Argentina, where annual inflation is running at 115%, are already able to purchase the UXD stablecoin, also called Criptodólar, the company said Thursday. The stablecoin, which is also available in Brazil, is hosted on LaChain, a Latin America-focused layer 1 blockchain launched in June by Ripio in
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The estate argues that any court orders while FTX Dubai was part of the proceedings should stand, but that the dismissal requested "is necessary" to protect the debtors and authorize them to, for instance, pay pre-bankruptcy wages and salaries, along with other compensation, benefits and expenses to Dubai employees. Source
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But federal prosecutors fear an indictment could trigger a run on deposits at Binance, causing the exchange to crumble like FTX did last fall. They are weighing alternatives such as “fines and deferred or non-prosecution agreements,” sources told the publication. Source
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Several major institutions, among them BlackRock, Fidelity, WisdomTree and Valkyrie, have in recent months filed applications for a spot bitcoin ETF to make investing in bitcoin more accessible. While the Securities and Exchange Commission (SEC) has in the past rejected such applications, many experts say there is a good chance
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As investigations loomed, the board of directors of Binance.US voted on whether to liquidate the company but could not come to a unanimous decision, The Information reported. Source
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When it comes to crypto issues, bank lobbyists’ usual friendliness with Republicans has sometimes been turned on its head. While crypto lobbyists have liked to say digital assets are nonpartisan, Republicans have generally stepped forward as the industry’s most reliable allies, but a lot of murkiness remains. And the fact
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“I think that bitcoin, for me, for a number of reasons, does not yet meet that commodity basket,” Ramaswamy said. “I’m a bitcoin fan. I spoke at a bitcoin conference. I want to stabilize the dollar against agriculture and farm commodities, gold, silver and nickel.” Source
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“The fair market value of the validation rewards received is included in the taxpayer's gross income in the taxable year in which the taxpayer gains dominion and control over the validation rewards,” according to the legal analysis, which says that value should be figured as of the moment the U.S.
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