A bi-partisan Anti-Money Laundering (AML) bill that covers “decentralized entities” such as decentralized finance (DeFi) protocols and decentralized autonomous organizations (DAOs) will soon be reintroduced to Congress, according to United States Senator Elizabeth Warren. Warren, a vocal crypto critic, argued at the Feb. 14 Senate Banking Committee’s hearing entitled, “Crypto Crash: Why Financial System Safeguards
Month: February 2023
Police in the U.K., in collaboration with the Financial Conduct Authority (FCA), have raided several sites allegedly hosting cryptocurrency ATMs. “No crypto ATM operators currently have FCA registration,” the British financial regulator stressed, adding that it is “working with multiple law enforcement partners, including local police forces, to disrupt and disable illegal crypto ATMs.” UK
Cumulative nonfungible token (NFT) trading volume trended higher in January, and data from a recent Delphi Digital report showed monthly volumes reaching an eight-month high above $1 billion. The key factor that influenced NFT trading was the Blur token airdrop on Feb. 14. Since its launch last year in Q3 2022, Blur has rewarded users
After 20 days of holding the $22,500 support, Bitcoin (BTC) price finally broke down on Feb. 9. Bullish traders had placed their hope on a sustained rally, but this has been replaced by a tight trading range with resistance at $22,000. The downtrend is even more concerning since the S&P 500 is trading near its
The crypto industry will “probably” start using euro, yen, or Singapore dollar based stablecoins in the future, reducing its reliance on US dollar based stablecoins, according to a Feb. 14 statement on Twitter Spaces by Binance CEO Changpeng Zhao, also known as “CZ.” CZ gave the statement in answer to a question about the crypto
The price of Ether (ETH) declined 10.2% between Jan. 8 and Jan. 10, and has since been range trading near the $1,500 level. More importantly, on a broader time frame, Ether is down 52.5% in twelve months, which partially explains why derivatives metrics were somewhat neutral after Ether’s failed attempt to break $1,700 on Feb.
USD Coin (USDC) issuer Circle has denied rumors that it received a “Wells Notice” over its United States dollar-pegged stablecoin. On Feb. 14, a now-deleted tweet from Fox Business reporter Eleanor Terrett claimed Circle had been ordered by the U.S. Securities and Exchange Commission (SEC) to cease the sale of USDC — due to the
Recent data shows that Silvergate Bank, a crypto-friendly financial institution, has become the most shorted stock in the United States, according to the Financial Industry Regulatory Authority. On Tuesday, Silvergate’s stock saw a rise after it was discovered that Citadel Securities holds a 5.5% stake in the bank, according to a Schedule 13G filing with
NFT marketplace Blur’s airdrop went live earlier today after a three-week delay. Users were able to unlock the Ethereum-based $BLUR governance tokens that they received over the past few months. The token’s price has decreased by more than 80% since its launch. The NFT startup has come out as a considerable rival of the popular
Cointelegraph’s Crypto Trading Secrets podcast has released its fifth episode, featuring Filbfilb, a cryptocurrency analyst and trader popular on Crypto Twitter. The crypto space has seen several bull and bear markets since the industry began with the launch of Bitcoin (BTC) in 2009. Each overarching crypto bull and bear market has primarily hinged on the
The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), is coming for unregistered cryptocurrency automated teller machines (ATMs). The FCA and the cyber team at West Yorkshire Police have taken action against several sites in and around Leeds city suspected of hosting illegally operated crypto ATMs. Announcing the news on Feb. 14, the FCA
Bitcoin (BTC) saw ongoing rejection below $22,000 into Feb. 14 as markets braced for macroeconomic data impact. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin vs. CPI: “Expect volatility” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to expand beyond $21,800 ahead of the United States Consumer Price Index (CPI) print for January.
Crypto financial services Matrixport’s head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves. In a Feb. 14 analysis, Matrixport’s Markus Thielen suggested that BUSD issuer Paxos Trust Company may not have been stringent enough with its oversight of the token. He added that
According to the National Bank of Rwanda, the country’s regulated financial services providers are now prohibited from facilitating crypto-related transactions. In her Jan. 31 letter justifying the decision, the acting governor Soraya Hakuziyaremye cites the unregulated status of most crypto assets and how this leaves users without the “guarantees and safeguards associated with regulated financial
Bitcoin (BTC) miners have earned nearly $600,000 in two months from a new controversial NFT protocol called Ordinals that has triggered a surge in user activity. What are Bitcoin Ordinals? Ordinals allow users to inscribe data in the form of images and other media types in newly mined blocks on the Bitcoin blockchain that’s otherwise largely
The percentage of Ethereum blocks complying with orders set by the United States Office of Foreign Asset Control (OFAC) has now fallen to 47% — the lowest level since Oct. 11. The latest milestone in reversing censorship comes nearly three months after the percentage of OFAC-compliant blocks peaked at 79% on Nov. 21. OFAC-compliant blocks
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