The United Kingdom’s Treasury Committee had previously proposed that unregulated cryptocurrencies should be treated as gambling. However, the HM Treasury has strongly opposed this idea, standing by the belief that a financial services regulatory framework is a more appropriate approach. Financial Services Minister Andrew Griffith argues that treating cryptoassets as gambling goes against internationally recognized
Blockchain
The recent court ruling declaring Ripple’s XRP token as “not in and of itself” a security has left Securities and Exchange Commission (SEC) chair, Gary Gensler, disappointed. Speaking at an event in Washington DC, Gensler expressed his concern for retail investors while acknowledging the protection afforded to institutional investors by the ruling. The court ruling
The derivatives market surrounding Binance’s native coin BNB is currently reflecting a sense of pessimism among crypto traders. Regulatory challenges have plagued Binance, one of the world’s largest crypto exchanges, leading to negative open interest rates for BNB. These negative open interest rates indicate that traders expecting a price decline are willing to pay those
The United States is making significant strides in reaching a bipartisan agreement on the regulation of stablecoins. Lawmakers from both the Republican and Democratic parties have shown a willingness to work together in establishing comprehensive regulatory frameworks for stablecoins and cryptocurrency markets. This article delves into the evolving consensus among lawmakers and the potential impact
Cathie Wood’s Ark Invest, the renowned investment management firm, has been making headlines recently with its strategic moves in the cryptocurrency market. One notable development is their decision to sell off a significant portion of their Coinbase shares, the popular crypto exchange. This article aims to analyze Ark Invest’s recent actions and shed light on
The excitement surrounding Bitcoin’s next “halving” event is building up as the countdown to April 26, 2024, at Block 840,000 begins. This anticipated event, which occurs approximately every four years, will reduce the inflation rate of Bitcoin, and it is believed to have bullish implications for the cryptocurrency. As we analyze the historical data and
The BNB Beacon Chain, a significant part of the Binance blockchain ecosystem, is set to undergo a planned hard fork upgrade on July 19th at 6:00 UTC. This upgrade, named “ZhangHeng” after a renowned Chinese scientist, will take place at block height 328,088,888. A hard fork refers to modifying the software protocol to validate previously
The year 2023 has seen a disappointing performance for crypto scammers, according to a recent report by blockchain intelligence firm Chainalysis. The report reveals a 65% decrease in inflows to “known illicit entities” compared to the same period last year. Additionally, inflows to “risky” entities have also dropped by 42%, while inflows to “legitimate services”
South Korean companies operating in the cryptocurrency space will be required to disclose comprehensive information about their transactions to the country’s financial regulator starting from January 2024. This new requirement, announced by the Financial Services Commission (FSC) of South Korea, aims to enhance accounting transparency for digital asset transactions. The government’s objective is to protect
The Russian government’s stance on cryptocurrencies has been a source of confusion and uncertainty for several years. While the Central Bank supports a complete ban on crypto-related activities, other government ministries, including finance, trade, and energy, have expressed a desire to legalize and regulate cryptocurrency. This conflicting approach has created a deadlock between these bodies,
