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.
The founder of Terraform Labs, Do Kwon, reportedly retained a law firm in South Korea before the April 14 wipeout in TerraUSD’s value, according to a Bloomberg report.
Bitcoin dropped on Monday afternoon in Asia and continued to trade below US$30,000. Cardano led losers among top 10 non-stablecoin cryptocurrencies in a mixed market. Solana led gains, followed by Binance’s BNB token and memecoin Dogecoin.
Seattle-based crypto exchange Bittrex Inc. has rejected charges by the U.S. Securities and Exchange Commission (SEC) that it and co-founder Bill Shihara operated an unregistered national securities exchange, broker and clearing agency. The SEC filed the charges on Monday. See related article: U.S.-based cryptocurrency exchange Bittrex lays off 83 employees Fast facts See related article: U.S. SEC…
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The U.S. House Financial Services Committee is set to hold a hearing on April 19 to discuss a draft bill released over the weekend on regulating stablecoins, a class of digital currency designed to offer price stability by being pegged to another asset’s value.
The global culture of decentralized autonomous organizations arrived in Japan last week for DAO Tokyo, the first event of its kind in Asia according to the organizers, drawing over 350 founders and contributors from all corners of the world for discussions on all things DAO.
SEC member Hester Peirce has criticized the regulatory agency for its proposal that seeks to expand the definition of an “exchange” to DeFi platforms.
Bitcoin dipped below US$30,000 in early Monday morning trading in Asia. Ether stalled after strong gains that followed last week’s blockchain upgrade.
Bitcoin moved within a couple of hundred dollars of the US$31,000 ceiling in trading later in the week as market sentiment improved after Ethereum’s successful upgrade to unlock staked Ether. The Ethereum token broke above US$2,000 on Friday. Weaker inflation readings out of the U.S. later in the week pushed recession worries off center stage…