SEC seeks 1 million Slack messages from Ripple for XRP litigation
The US Securities and Exchange Commission wants to review ‘terabytes’ of Ripple’s Slack chats for evidence of XRP-related wrongdoing. How much is too much?
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Hong Kong artists embrace NFTs as OpenSea trading volume explodes
Despite speculation that the NFT market is cooling, OpenSea continues to post record transaction volumes, and Hong Kong artists are getting in on the action.
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Tencent blockchain applet IOU accused of breaking Chinese competition law
Chinese blockchain company RongxinChain has alleged that Tencent’s IOU applet is operating in breach of the country’s Unfair Competition Law, according to a report by the Shenzhen Baoan District Credit Promotion Association. Fast facts Tencent’s IOU blockchain applet went online in July on the company’s “super app,” Wechat, allowing users to issue legally valid IOUs…
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Ethereum investment product market share rises to 26% amid fund outflows
Despite a recent recovery in crypto prices, digital asset investment products last week saw outflows of US$26 million, according to CoinShares, Europe’s largest digital asset fund manager. It was the fifth consecutive week in which institutional money flowed out of cryptocurrencies, mainly Bitcoin. Fast facts Bitcoin — the largest cryptocurrency by market value — bore…
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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…
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Bitcoin’s price rises above $45K as gold and silver slump
After hovering aroud the US$35,000 mark through most of June and July, Bitcoin’s price has started rising again this past month. In the past 24 hours, Bitcoin’s price broke US$45,000 for the first time since mid-May amid the market-wide crash from the historic highs in April, according to data from CoinMarketCap. Fast facts Conversely, gold…
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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…
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Unocoin now allows Indians to buy pizza, coffee with Bitcoin
Several cryptocurrency payment methods exist around the world, but new service is the first major one of its kind in India.
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Crypto miners set to be snared by U.S. infrastructure bill
A landmark US$1 trillion infrastructure bill moved one step closer to becoming law on Sunday, notably without carve-outs for cryptocurrency miners and network validators. What does it mean for the industry?
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Crypto exchange Zipmex in Asia-Pacific tie-up with Visa
Singapore-headquartered cryptocurrency exchange Zipmex has announced that it has struck a cooperation agreement with Visa. Fast facts The exchange’s payment network, ZipSend, will be integrated into Visa’s global merchant network. Visa will also cooperate with another 50 cryptocurrency platforms. Zipmex plans to launch Visa-branded payment cards later this year. In July, Visa said that its…