Search results: Gary Gensler
Regulators and the problem of unstable stablecoins
Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?
SEC new enforcement actions rose 7% to 434 in FY 2021
The securities markets regulator ordered $3.85B in fines, while new actions included ‘emerging threats’ in the crypto industry.
Bitcoin ETFs beckon as SEC spurns sweet spot
Top blockchain and crypto news: Spot ETFs stymied as SEC stands firm. Is Bitcoin’s Taproot upgrade worth the wait? China’s crypto mining goes underground.
VanEck Bitcoin-linked ETF XBTF price slightly down in CBOE debut
Investment firm VanEck’s Bitcoin futures exchange-traded fund (XBTF) closed Tuesday 1.94% down in price to US$59.73 for its initial day of trading on the Chicago-based CBOE global exchange, according to MarketWatch’s data. Fast facts On Nov. 15, VanEck announced the launch of XBTF as the “lowest-cost Bitcoin-linked ETF” compared to its competitive rivals. The company […]
Circle contributes to $4.3M Series A funding round for yen-backed stablecoin
As Circle expands into Asia as part of a global expansion plan, what does the investment in a yen-back stablecoin mean for the market?
How is the launch of Bitcoin futures ETFs affecting crypto mining?
After the SEC approved a Bitcoin futures ETF, the cost of crypto mining rigs jumped. Coincidence? Varit Bulakul of The Brooker Group explains.
3 themes driving institutional adoption of digital assets
What makes 2021’s roaring crypto market different from 2017’s are the banks and VCs piling in, writes Calvin Shen of Hex Trust. What’s behind their crypto adoption?
Stablecoin toss to US Congress as regulators circle
Top blockchain and crypto news: Stablecoins at regulatory crossroads. Squid Game crypto players suffer shocking fate. Are metaverses China’s new national insecurity?
Biden administration report on stablecoins calls for laws to mitigate risks
The highly awaited report outlines recommendations for stablecoin regulation and asks regulatory bodies to combat risks until Congress introduces new laws.
CFTC wants to be the primary crypto regulator
The Commodity Futures Trading Commission is ready to be the “primary cop on the beat” for digital assets, CFTC acting chair Rostin Behnam said at his confirmation hearing on Wednesday. Fast facts As of Tuesday, “the total size of the digital asset market was US$2.7 trillion and among that $2.7 trillion, nearly 60% were commodities. […]
SEC set to receive formal authority to regulate stablecoins
U.S. Securities and Exchange Commission chair Gary Gensler has reiterated over time that most stablecoins are securities and should, therefore, fall under the purview of the securities watchdog. Now, Gensler is one step closer to achieving his aim of regulating stablecoins. Fast facts The U.S. Treasury Department and other agencies are putting together a report […]
2nd U.S. Bitcoin futures ETF starts trading today, and a 3rd will launch next week
Valkyrie Bitcoin Strategy Fund, the second Bitcoin futures exchange traded fund (ETF) in the U.S., is set to start trading today, while VanEck’s Bitcoin futures ETF, which also received approval this week, is expected to launch early next week. Fast facts ProShares Bitcoin Strategy Fund, the first U.S. Bitcoin futures ETF, started trading on the […]
A radically different financial architecture is here. Who will own it?
DeFi is a real-world experiment testing out a new model for finance, writes Alex Grebnev of Oxygen. What is the future of banking without Wall Street?
Bitcoin price hits all-time high after ProShares ETF debut
Bitcoin set another record as it traded above US$67,000 Wednesday, one day after ProShares’ first-day trading volume reached nearly US$1 billion
Trick of the trade: Is SEC helping or reining in Bitcoin with ETF?
Top blockchain and cryptocurrency news: Bitcoin grows up. Facebook’s metaverse journey. China’s crypto investors find a workaround.
What the coming Bitcoin-futures ETF bonanza means for investors
The first US Bitcoin futures EFT is set to begin trading today. Will this exchange-traded fund bring Bitcoin closer to the masses?
As regulators circle above, how should the DeFi industry respond?
Traditional finance evolved over centuries while DeFi is coming into its own in a few years, writes Adi Ben-Ari of Applied Blockchain. Are its risks inevitable?
Why global regulations for stablecoins can help catalyze crypto adoption
In this special Q&A, industry leaders tell Forkast.News why global stablecoin regulations can help catalyze crypto adoption.
Bitcoin price poised to retest all-time high
Crypto market watchers tell Forkast.News what’s behind Bitcoin’s latest resurgence and predict Bitcoin’s price heading into Q4 2021.
What are stablecoins, and why are some governments so afraid of them?
Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?
How China’s crypto clampdowns could reshape the rest of the world
Against the global tide of digital asset adoption, China’s harshest crypto ban yet heralds golden opportunities, writes Richard Byworth of EQONEX. Other governments should take note.
Crypto markets plunge as roof falls in on Evergrande
Top blockchain and crypto news: Evergrande end-game roils crypto markets. SEC takes aim at stablecoins. How close is China’s digital yuan to the finish line?
Evergrande’s uncertainty rocks crypto market
Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.
U.S. Treasury prepares to recommend stricter regulation on stablecoins
The U.S. Treasury is preparing a raft of recommendations for stricter oversight of Tether and other stablecoins, as unnamed insiders say the department has identified the greatest risks posed by the tokens, according to a recent Bloomberg report. Fast facts Making sure investors are able to transfer money in and out of tokens is a […]
Why Cardano’s Charles Hoskinson says DeFi is ‘up for grabs’
As Cardano’s Alonzo upgrade goes live, founder Charles Hoskinson of IOHK calls DeFi a ‘bubble.’ How does he think the regulation that is sure to come will reshape DeFi in the future?
Insider trading scandal rocks world’s biggest NFT platform OpenSea
As the trading volume in non-fungible tokens begins to slow down from recent record heights, leading NFT marketplace OpenSea has been rocked by an insider trading scandal involving a senior team member. Fast facts The company, dubbed “the eBay of NFTs,” issued a statement yesterday acknowledging it became aware on Tuesday that an employee had […]
SEC chair says most cryptocurrencies including stablecoins are securities
In his testimony before the Senate Banking Committee, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said that Coinbase lists “dozens of tokens that may be securities.” Fast facts In response to Senator Pat Toomey’s questions about whether cryptocurrencies classify as securities, Gensler said “very many” of the cryptocurrencies, including stablecoins, are in […]
SEC chair reiterates call for crypto platforms to ‘come in and talk to us’
Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]
Mark Cuban to Coinbase: ‘Go on the offensive’ against SEC over high-yield product
Billionaire investor Mark Cuban says Coinbase should “go on the offensive” against the U.S. Securities and Exchange Commission in its feud over high-yield savings account Lend. Brad Garlinghouse, CEO of Ripple — which is itself embroiled in ongoing litigation with the SEC — quipped “Welcome to the party” in a GIF tweet. Fast facts In […]
SEC threatens to sue Coinbase over high-yield savings account
Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.
SEC launches probe into Uniswap Labs
In another sign of increasing regulatory pressure on the crypto industry, the U.S. Securities and Exchange Commission is investigating Uniswap Labs, the developer behind the decentralized exchange of the same name, the Wall Street Journal reported on Friday. Fast facts Citing people familiar with the matter, the report said the SEC is seeking information on […]
SEC charges BitConnect founder with $2B ‘textbook Ponzi scheme’
The founder of the now-defunct crypto exchange BitConnect is being sued for a US$2 billion “textbook Ponzi scheme” by the U.S. Securities and Exchange Commission, according to a Reuters report. Fast facts The SEC alleges BitConnect’s founder Satish Kumbhani, an Indian citizen, lied about the exchange’s ability to earn 40% returns on investments of BitConnect’s […]
USDC issuer Circle to become full-reserve digital currency bank
Amid a period of increasing regulatory interest in stablecoins, Circle, the digital payment company that issues USDC, the world’s second-largest stablecoin , has announced plans to become a full-reserve national digital currency bank in the U.S. Fast facts In a company blog post, CEO and co-founder Jeremy Allaire said the company was prepared to operate […]
Crypto platform Poloniex agrees to $10M settlement with SEC
Cryptocurrency platform Poloniex has agreed to pay more than US$10 million to settle charges for operating an unregistered online digital asset exchange, according to an announcement by the U.S. Securities and Exchange Commission (SEC). Fast facts According to the SEC’s order, Poloniex violated securities laws from July 2017 to November 2019 as the company did […]
Ethereum rising: 3 reasons why Ether’s price could soon break $3,000
Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?
Google lifts crypto advertising ban
In a long-awaited reversal of a 2018 policy decision, Google will allow crypto exchanges and wallets to advertise on its platform in the U.S. But not everyone’s happy.
SEC chair labels crypto industry ‘Wild West,’ asks for more powers
The cryptocurrency trading industry has been labeled a “Wild West,” riddled with fraud and investor risk, by U.S. Securities and Exchange Commission Chair Gary Gensler, according to a Reuters report. Fast facts Calling on Congress at the Aspen Security Forum to give the SEC more power to regulate the industry, Gensler said many of the […]
Tether rejects claims of renewed scrutiny over suspected bank fraud
World’s largest stablecoin dismisses report suggesting possibility of U.S. investigation, despite claims of recent Justice Department interest and track record of legal woes.
Bitcoin ETF applicant is not surprised by US delays
Valkyrie is among a growing number of asset managers at the SEC’s door, seeking approval to offer a Bitcoin ETF. Will a Bitcoin ETF ever get the green light in the United States?
SEC: Commissioners’ statement not relevant to Ripple’s XRP lawsuit defense
US Securities and Exchange Commission staffers say their appointed leaders’ views do not reflect the agency’s stance on Ripple and XRP.
Elizabeth Warren warns over crypto risks, presses SEC on regulation
U.S. Senator Elizabeth Warren has written to Securities and Exchange Commission Chair Gary Gensler enquiring about the SEC’s authority to regulate cryptocurrencies and asking what future congressional regulatory action is needed, according to a Reuters report. Fast facts Requesting a reply by July 28, Warren, who heads the Senate Banking Committee’s Subcommittee on Economic Policy, […]
SEC says Ripple not entitled to testimony on XRP from ex-director
Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?
Ethereum: London calling. Will the SEC ever approve Bitcoin ETFs? Foreign miners reap rewards amid China crypto crackdown.
Top blockchain and crypto news: Ethereum upgrade, torque of the town. SEC in snafu over Bitcoin ETFs. Crypto miners flourish amid China fallout.
U.S. securities watchdog’s regulatory agenda turns blind eye to crypto
Dashing hopes of greater regulatory clarity for the cryptocurrency industry, the U.S. Securities and Exchange Commission’s recently released annual regulatory agenda does not mention Bitcoin or cryptocurrency regulations.
Can Elon Musk shrink Bitcoin mining’s carbon footprint? PancakeBunny’s $200 million hack. Ray Dalio admits to owning crypto.
Other top blockchain and crypto news: Australia signals progressive approach to crypto as Hong Kong moves closer to banning retail crypto trading.
How S. Korea and Singapore are grappling with crypto investor protection
As retail interest in crypto grows, countries around the world are grappling with consumer protection. Asia offers a window into the array of policy responses.
Is Dogecoin’s price boom over? Investors punish Bitcoin and crypto market. Edward Snowden’s $5 million NFT.
Other top blockchain and cryptocurrency news: Can China be warming up to digital assets and crypto investing? Ethereum ETFs roll out in Canada.
Ripple accuses SEC of ‘intimidation tactic’ in seeking XRP info overseas
Battlefield for SEC v. Ripple lawsuit goes global as defense lawyers seek to stop SEC from obtaining information on Ripple and XRP from foreign regulators.
Are Bitcoin ETFs ready to party? Line is growing at SEC’s gate.
Bitcoin’s soaring prices are attracting traditional investors who want in, but with an entourage rather than solo. When will the velvet ropes lift in US and Asia?
XRP price surges over 40% following another legal victory for Ripple
Court ruling favoring Ripple executives and slapping down SEC catapults XRP — now the world’s 4th most popular crypto — to its highest prices in 3 years.
Lawyer for 11,000 XRP holders pushing to fight SEC in Ripple lawsuit
As Ripple and SEC intensify their legal battles, attorney John Deaton and his clients are trying to jump into the fray. Will XRP investors get their day in court?
Ripple: SEC did not give fair notice that XRP violated law
In its latest court filing, Ripple also says SEC led market to believe that XRP was not an investment contract. Outside court, Ripple pursues the CBDC business.
How blockchain advocates stopped FinCEN’s ‘crypto wallet rule’—for now
Blockchain association leader Perianne Boring explains the controversial rule and how the industry pulled together to force FinCEN to consider public input.
Bitfinex, Tether banned in New York. No end yet to Ripple XRP’s SEC lawsuit woes. CBDC bridge for Asia and Middle East.
Other top blockchain and crypto news: Bill Gates on bitcoin. Nvidia protects gamers from crypto miners with separate CMP and GeForce RTX graphics cards.
No Ripple-SEC lawsuit settlement in sight as XRP prices tumble
Ripple and SEC face off in a pretrial conference as MoneyGram, the world’s second largest money transfer provider, suspends trading on Ripple’s platform.
Robinhood, GameStop frenzy players face Congressional questioning
Congress investigates links between Robinhood, Citadel, Reddit’s WallStreetBets and GME prices amid shifting investor interest to cryptocurrency and DeFi.
BNY Mellon, Jay-Z join bitcoin conga line. Will NFTs take over real world? Roadmap for Biden to take blockchain leadership.
Other top blockchain and crypto news: DeFi under Fed study. Andrew Yang, Wyoming vie for crypto attention. Hong Kong and India edge toward crypto bans.
Don Tapscott’s “personal call” to President Biden to lead blockchain policy
Blockchain Research Institute’s Don Tapscott outlines how Biden administration can lead technology policy for US to stay ahead in the innovation race.
As SEC goes after Ripple and Bitcoiin2Gen, is DeFi next in its line of fire?
Securities lawyers read the tea leaves of SEC’s lawsuits against Ripple XRP and Bitcoiin2Gen. Will DeFi be next for SEC enforcement actions or regulations?
Biden’s American Rescue Plan. Crypto’s regulatory outlook in 2021. How not to lose your bitcoin password (don’t ask Stefan Thomas).
Other top blockchain and cryptocurrency news: Twitter’s blue sky initiative. In China, Conflux Network wins another government deal.
SEC enforcer behind $1.3 billion Ripple lawsuit stepping down
Securities and Exchange Commission’s acting enforcement chief Marc Berger helped lead high-profile lawsuits against crypto firms, including Ripple and Telegram.
Be careful what you wish for? Regulators pick up pace in the crypto industry crackdown
Last year was memorable in the emerging world of digital assets for the sheer number of corporate failures. The industry itself has been asking for clearer legal guidelines to help development. Is that what’s happening now?
‘It raises really interesting questions’: How regulators are approaching DAOs
Panelists at Forkast’s live-streamed event ‘Crypto Rising: The Role of Law: An International Debate post Tornado Cash’ co-hosted by the Crypto Council for Innovation (CCI) said attempting to regulate DAOs highlights the shortcomings of international enforcement.
U.S. regulatory turf wars and a spot Bitcoin ETF are on their way in 2022
Perianne Boring of the Chamber of Digital Commerce sees agencies elbowing each other to oversee the crypto industry while investors start to pay big taxes.
Are surveillance and taxation coming soon to a blockchain near you?
The US Infrastructure Act has provisions that should make crypto advocates shudder, writes Alex Shipp of Offshift. Who will stand up for crypto’s core values?
Tech selloff positions Bitcoin as an inflation hedge
Markets on Tuesday in the U.S. were unsettled by the prospect that energy crises in Europe and China could lift inflation to new highs, compelling central banks to reverse accommodations sooner than expected. US Treasuries reacted with a fierce rise in yields and that spilled over to the equity markets. Although the markets drove down […]
Bitcoin dominance rises to 45% as altcoins crash over China crypto crackdown
As the crypto sell-off continued over the weekend, Bitcoin once again proved its resilience relative to other cryptocurrencies in not bleeding as much.
Bitcoin price plunges and altcoins sell-off as crypto market decline intensifies
Bitcoin and altcoin prices take heavy hits and sell-off deepens as more bad news, including a blatant DeFi exit scam, continue battering crypto markets.
What’s in DeFi’s future — and what does it mean for traditional banks?
Will DeFi replace centralized finance, and how might regulators respond? An all-star panel with leaders from SEC, WEF, ConsenSys and USDC explains.
Will new CasperLabs token take a bite out of high gas fees?
CasperLabs, a new smart contract blockchain network, announces its CSPR token sale — which CTO Medha Parlikar likens to a ‘gas futures market.’
Binance’s CZ predicts bitcoin prices will go as high as $400,000 in 2021
The founder and CEO of the world’s largest crypto exchange explains why he thinks bitcoin prices will keep rising but DeFi won’t be as hot as it was in 2020.