Search results: Gary Gensler

Federal regulators have turned their sights on stablecoins. But is the attempt to tame this digital currency too late?

The securities markets regulator ordered $3.85B in fines, while new actions included ‘emerging threats’ in the crypto industry.

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.

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 […]

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?

After the SEC approved a Bitcoin futures ETF, the cost of crypto mining rigs jumped. Coincidence? Varit Bulakul of The Brooker Group explains.

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?

Top blockchain and crypto news: Stablecoins at regulatory crossroads. Squid Game crypto players suffer shocking fate. Are metaverses China’s new national insecurity?

The highly awaited report outlines recommendations for stablecoin regulation and asks regulatory bodies to combat risks until Congress introduces new laws.

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. […]

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 […]

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 […]

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 set another record as it traded above US$67,000 Wednesday, one day after ProShares’ first-day trading volume reached nearly US$1 billion

Top blockchain and cryptocurrency news: Bitcoin grows up. Facebook’s metaverse journey. China’s crypto investors find a workaround.

The first US Bitcoin futures EFT is set to begin trading today. Will this exchange-traded fund bring Bitcoin closer to the masses?

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?

In this special Q&A, industry leaders tell Forkast.News why global stablecoin regulations can help catalyze crypto adoption.

Crypto market watchers tell Forkast.News what’s behind Bitcoin’s latest resurgence and predict Bitcoin’s price heading into Q4 2021.

Stablecoins combine the portability of crypto with the price stability of fiat currencies. But are they all that stable?

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.

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?

Crypto investors and industry watchers are following closely the potential collapse of Chinese property giant Evergrande.

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 […]

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?

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 […]

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 […]

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 […]

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 […]

Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.

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 […]

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 […]

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 […]

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 […]

Will Google greenlighting US crypto ads, Ethereum’s London upgrade and clearer regulations pave the way for another Ether price rally?

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.

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 […]

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.

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?

US Securities and Exchange Commission staffers say their appointed leaders’ views do not reflect the agency’s stance on Ripple and XRP.

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, […]

Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?

Top blockchain and crypto news: Ethereum upgrade, torque of the town. SEC in snafu over Bitcoin ETFs. Crypto miners flourish amid China fallout.

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.

Other top blockchain and crypto news: Australia signals progressive approach to crypto as Hong Kong moves closer to banning retail crypto trading.

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.

Other top blockchain and cryptocurrency news: Can China be warming up to digital assets and crypto investing? Ethereum ETFs roll out in Canada.

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.

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?

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.

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?

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.

Blockchain association leader Perianne Boring explains the controversial rule and how the industry pulled together to force FinCEN to consider public input.

Other top blockchain and crypto news: Bill Gates on bitcoin. Nvidia protects gamers from crypto miners with separate CMP and GeForce RTX graphics cards.

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.

Congress investigates links between Robinhood, Citadel, Reddit’s WallStreetBets and GME prices amid shifting investor interest to cryptocurrency and DeFi.

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.

Blockchain Research Institute’s Don Tapscott outlines how Biden administration can lead technology policy for US to stay ahead in the innovation race.

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?

Other top blockchain and cryptocurrency news: Twitter’s blue sky initiative. In China, Conflux Network wins another government deal.

Securities and Exchange Commission’s acting enforcement chief Marc Berger helped lead high-profile lawsuits against crypto firms, including Ripple and Telegram.

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?

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.

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.

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?

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 […]

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 and altcoin prices take heavy hits and sell-off deepens as more bad news, including a blatant DeFi exit scam, continue battering crypto markets.

Will DeFi replace centralized finance, and how might regulators respond? An all-star panel with leaders from SEC, WEF, ConsenSys and USDC explains.

CasperLabs, a new smart contract blockchain network, announces its CSPR token sale — which CTO Medha Parlikar likens to a ‘gas futures market.’

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.