In the past month, the issue of regulation has been a significant debate globally. Meanwhile, Gary Gensler, the chairman of the US SEC (Securities and Exchange Commission), commented on securities regulations recently. He said the watchdog might exempt cryptocurrency firms from some securities regulations. This aims to ensure that crypto firms comply with its regulations….
As the nation’s economy continues to deteriorate, the Central Bank of Sri Lanka (CBSL) reiterated its stance on crypto in a notice. On July 12th, the CBSL released a public warning to the public that crypto usage is still prohibited. In 2018 and 2021, the CBSL has reiterated its position on crypto usage. It has…
Lael Brainard, the vice-chair of the US Fed, advised attendees at a Bank of England seminar in London on July 8th to regulate crypto now or regret it later. Brainard asserted that cryptocurrency needs “strong guardrails.” This is because it faces the same fundamental dangers as conventional finance. She provided the recent market slump as…
According to reports, the Shiba Inu ecosystem is working on launching a stablecoin, collectible card game, and rewards token. In a blog post, the head developer of the meme currency, Shytoshi Kusama, highlighted the new initiatives. The Shiba Inu network will soon include a new collectible card game. This game card is intended for its…
Popular crypto exchange, Bitstamp, has announced plans to issue a fee for inactive accounts. The latest announcement will take effect from August 1st. Meanwhile, this news is due to the ongoing downturn in the crypto market. This decline has affected the revenue of several crypto firms. According to the exchange, inactive users will be charged…
Recently, the US Fed Reserve held a conference in the United States. The panelists agreed that a digital Dollar would not affect the international currency system. Additionally, they agreed that other CDBCs do not threaten the value of the USD. However, well-developed cryptos could change the global role of the USD. Some members stated that…
According to reports, Trust banks in Japan may soon be allowed to manage digital assets. The country’s regulator, FSA (The Financial Services Agency), made the announcement recently. However, the FSA will have to deliberate on the matter before deciding. Reports say it would seek public opinion for a month before announcing the new changes. Nikkei,…
With the latest verdict from the BIS (Bank for International Settlements), banks can now store 1% of their reserves as cryptocurrencies. Before now, the BIS has maintained a skeptical approach toward digital currencies. The recent market crisis and issue with the Terra ecosystem have only made things worse. However, it appears things have changed, and…
Recently, there was turmoil in the stablecoin industry. This was after the popular DeFi platform, Terra, collapsed. Also, its stablecoin, the USD crashed, and several investors lost millions of dollars. Following the news, a Swiss National Bank (SNB) executive has commented on the matter. The executive, Thomas Moser, believes that regulators would favor centralized stablecoins…
According to recent reports, Axie Infinity has relaunched its Ronin bridge with some added features. The platform said it conducted three different audits before reopening the bridge. The co-founders of the popular dApp announced the bridge’s reopening on Twitter. They also showed commitment to ensuring users get back their lost funds. Ronin Bridge Relaunch Features…
Currently, regulators worldwide are still looking for the best way to regulate the $900-billion industry. Meanwhile, on the 22nd of June, Euronews stated that: “While some state have partially regulated the sector, others have left the sector without regulations.” Swiss Watchdog, FINMA, Calls For Complete Regulation Of Crypto Market Various officials warned that not regulating…
A recent report states that Brazil’s central bank is developing a unique kind of CDBC. According to the central bank’s president, the CBDC will be used for wholesale purpose. Also, private banks will be able to use the digital Real as collateral to issue stablecoins. Digital Real Will Be wholesale Oriented Brazil plans to issue…
The year 2022 seems to have redefined the gaming sector by adding decentralized finance to the industry. Towards the end of 2021, the gaming companies as well as the blockchain-based platforms knew that the gaming industry would evolve with the integration of blockchain technology. This has laid the foundation of a new sector within the…
On May 8, the entire world got to know the severity and impact of a single cryptocurrency going down. As the terraUSD (UST) experienced the crash, it took the entire cryptocurrency industry with it. UST’s price experienced over 70% demise from May 8 to May 12. Even now, when the trading price of the USD-pegged…
From the beginning of the year until now, the past couple of weeks has proven to be the most alarming for the cryptocurrency industry. Whether Bitcoin or any altcoin, their prices are not even close to the analysts’ estimations. In the past week, several stablecoins faced a similar issue where they lost their pegs. The…
The Security Exchange Commission is abuzz as two of the regulator’s commissioners took to social media to show their dissatisfaction over the SEC’s Chairperson’s newly published,’ Regulatory Flexibility Agenda.’ United States Securities and Exchange Commission (SEC) commissioners Hester Peirce and Elad Roisman have expressly shown their disapproval over the commission’s chairperson Gray Gensler’s new Regulations…
Unocoin, India’s leading exchange platform, has included comprehensive trading options for Shiba Inu and Dogecoin meme coins. This revelation came from an announcement during the company’s press release on Monday. Unocoin’s extensive customer base will now be able to access trade options that pair the Dogecoin against India’s Fiat currency, the rupee. There is no…
Sberbank, a Russia State-owned bank is trying to roll out its decentralized digital asset and tools issuance platform, but has repeatedly failed to obtain regulatory approval. Sberbank of Russia is Russia’s largest bank and a leading global financial institution. The bank is seemingly finding it difficult to secure a viable license and get regulatory approval…
The Crypto market is currently progressing under the fears of “regulation”. It is this fear which is stopping value surges and slowly destroying the crypto investment climate. Whether it is Bitcoin or even Ethereum or else, each and every cryptocurrency of the world is living under this fear of “regulation”. Very recently, Ethereum value surged…
Currently, Facebook, a company that pays highly for Washington lobbying, is trying to swap the Biden administration. On what? That their upcoming blockchain-based payments project doesn’t put the financial system at risk. Even so, officials are still concerned. Facebook’s efforts to convince officials are running into the same old concerns regulators. This is even though…
