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Articles by

Valida Pau

Valida Pau is an editorial intern at Forkast. She is a multilingual K-pop enthusiast and a history and economics student at Wellesley College.

May 2023

Fed hikes rates by a quarter point, Bitcoin drops 0.48%

Bitcoin, the largest cryptocurrency by market capitalization, dropped 0.48% on Thursday, Hong Kong time, after the Federal Reserve’s Federal Open Market Committee said it would raise interest rates by 25 basis points, as widely expected. The latest rate bump brings the target range to 5%-5.25%, the highest since September 2007. See related story: Bitcoin, Ether, […]

April 2023

Polygon developers get access to Google Cloud’s node service

Google Cloud has announced that its node hosting service, the Blockchain Node Engine, will be available for developers on the Polygon blockchain. 

Coinbase ups the ante with SEC, asking court to require crypto clarity from regulator

Coinbase sued the U.S. SEC on Monday, asking that a court require the regulator to publicly respond to the Coinbase July 2022 petition asking for clearer crypto regulation guidelines. 

EU Parliament approves its first crypto regulation MiCA

The European Parliament has approved the Markets in Crypto-Assets Act (MiCA), a legislation aimed at standardizing regulations and establishing harmonized rules for crypto assets across the European Union

SEC’s Gary Gensler dodges question on whether Ethereum is a security

SEC Chair Gary Gensler did not give a direct answer when asked whether Ether is a security or a commodity at a congressional oversight hearing on Tuesday. 

Bank of England says stablecoins need limits on use to prevent financial instability

The Bank of England may set limits on use of stablecoins, citing concern rapid introduction of such digital currencies could lead to financial instability, Deputy Governor Jon Cunliffe said in a speech on Monday.

G7 plans to help developing countries introduce CBDCs

Japan’s top finance diplomat, Masato Kanda, announced on Tuesday that the G7 nations will work together to help developing countries introduce CBDCs in line with international standards. 

US Treasury warns DeFi is being used for illicit transfers

DeFi services threaten U.S. national security and need to comply with anti-money laundering and terrorist financing laws, the U.S. Treasury said on Thursday.

WonderFi, CoinSmart, Coinsquare to merge into Canada’s largest crypto trading platform

Three Canadian cryptocurrency companies announced a merger on Monday, creating Canada’s largest crypto asset trading platform with over 1.65 million registered users.

March 2023

Binance concealed ‘extensive’ ties to China: Financial Times

Binance reportedly hid ties to China for years despite claiming to have left the country following Beijing’s regulatory clampdown in 2017.

Binance, Zhao sued by CFTC for alleged regulatory violations

Binance and founder Changpeng Zhao have been sued by the CFTC for allegedly violating derivative rules

Texas legislature introduces bill to attract Bitcoin-related businesses, protect interests of same

The Texas legislature introduced a bill on Tuesday to attract more Bitcoin-related businesses and protect the rights of Bitcoin holders, miners, and developers.

US, Germany shut ChipMixer for alleged ties to US$3 bln crypto laundering 

US, and German shuttered ChipMixer, a cryptocurrency service that allegedly laundered more than US$3 billion in crypto since 2017.

Binance suspends pound sterling services for U.K. customers as payment provider backs out

Binance, the world’s largest cryptocurrency exchange, announced that it is halting its British pound deposits and withdrawals.

SEC shuts Miami hedge fund for alleged ties to US$100 mln crypto fraud 

The SEC announced emergency action against crypto hedge fund BKCoin and co-founder Kevin Kang in connection with an alleged fraud scheme.

Liquid staking TVL surpasses lending, becomes the second-largest among DeFi services

The total value of crypto assets deposited in liquid staking protocols rose to US$14 billion, surpassing lending services before Ethereum’s Shanghai update. 

February 2023

SEC may make it harder for hedge funds to work with crypto firms: Bloomberg

The U.S. Securities and Exchange Commission (SEC) plans to propose rule changes that would make it difficult for cryptocurrency firms to hold digital assets.

Hong Kong to mandate stablecoin licensing as early as this year

The HKMA said in a consultation conclusion that algorithmic stablecoins will not be allowed in the city.