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Christopher Giancarlo, the former chair of the CFTC, said the U.S. is resisting cryptocurrency innovation due to its threat to vested interests in the financial system.

Bitcoin and Ether rose on Wednesday trade in Asia, along with all top 10 non-stablecoin cryptocurrencies, with Solana and Cardano leading the way.

Welcome to The Daily Forkast – April 25, 2023 – presented by Jeff Cheung. In an unexpected twist of events, Coinbase is suing the United States Securities and Exchanges Commission after receiving a Wells notice from them just last month. The crypto markets haven’t reacted to this news well, and after a rough start to […]

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. 

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

Bitcoin fell to near US$28,000 on Friday morning in Asia, with Ether trading flat and most other top 10 non-stablecoin tokens losing steam.

Top blockchain and crypto news: Bittrex in SEC line of fire. Bored Apes fall after whale sale. Chinese banks court crypto clients.

Bitcoin rose and traded above US$30,000 on Wednesday afternoon in Asia, while Ether fell along with most top 10 non-stablecoin cryptocurrencies by market capitalization. Solana lost the most, followed by Binance’s BNB token.

Bitcoin rebounded above US$30,000 on Wednesday morning in Asia. All top 10 tokens rose after SEC chair Gary Gensler was criticized at a congressional hearing for his approach to digital assets.

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. 

Bitcoin dropped on Tuesday afternoon in Asia but remained above US$29,000, while Ether and most top 10 non-stablecoin cryptocurrencies gained. Dogecoin and Solana fell on the day and rose on the week.

Bitcoin, Ether and most other top 10 non-stablecoin cryptocurrencies dipped Tuesday morning in Asia after the SEC sued crypto exchange Bittrex on Monday.

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 […]

SEC member Hester Peirce has criticized the regulatory agency for its proposal that seeks to expand the definition of an “exchange” to DeFi platforms.

As part of its February settlement with the Securities and Exchange Commission (SEC), the U.S.-based Kraken crypto exchange has submitted the largest Ether withdrawal request since Wednesday’s upgrade to the Ethereum blockchain. The SEC ordered Kraken to shut down what it called unregistered staking programs.

NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?

Bitcoin slipped in Wednesday afternoon trade in Asia but remained above the US$30,000 mark. Ether prices sank, along with all top 10 non-stablecoin cryptocurrencies by market capitalization, with Cardano and Dogecoin as the biggest losers.

The U.S. SEC Investor Advisory Committee urged the federal agency to continue its aggressive enforcement on crypto players that offer unregistered securities.

Bitcoin and Ether rose in Monday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies by market capitalization.

The Monetary Authority of Singapore is reportedly working on guidelines to help local banks vet and provide banking services to cryptocurrency clients

Bitcoin remained above US$28,000 in Wednesday trade in Asia. Ether made the most gains as the top 10 non-stablecoin cryptocurrencies by market capitalization increased, except Dogecoin.

Seattle-based crypto exchange Bittrex, Inc. will wind down its U.S. operations from April 30, citing continued regulatory uncertainty in the region.

Government officials from Hong Kong and mainland China talked about cryptocurrencies at the Boao Forum in China, as both chase Web3 ambitions.

Bitcoin dipped in Friday morning trading in Asia but held above US$28,000. The top 10 non-stablecoin cryptocurrencies traded mixed. Binance’s BNB led the winners.

Bitcoin edged above US$28,000 in Thursday morning in Asia amid a broad rally in most top 10 non-stablecoin cryptocurrencies.

SEC Chair urges for increased funding to address challenges posed by crypto markets and rapid technological innovation during House Subcommittee testimony.

As US authorities continue to police crypto regulations, we take a look at the direction the country’s crypto innovation is headed.

Top blockchain and crypto news: Binance targeted in CFTC lawsuit. Law catches up with Do Kwon. Chinese banks bet on Hong Kong crypto.

Bitcoin rallied above US$28,000 in Wednesday afternoon trade in Asia after losing ground earlier in the week when U.S. regulators filed a lawsuit against Binance, the world’s biggest crypto exchange, for allegedly breaching trading rules.

Binance saw about US$627 million in net Ethereum-related withdrawals in the 24 hours through Tuesday morning, data from blockchain analytics platform Nansen showed.

Asia-Pacific nation are leading the way in developing global cryptocurrency regulations that favor innovation, which is something that U.S. regulators should also take note of, said Ripple Labs Inc. President Monica Long

Binance CEO Changpeng Zhao said the charges are “an unexpected and disappointing civil complaint” in response to the CFTC lawsuit filed on Monday against him and the world’s largest crypto exchange.

Bitcoin fell Tuesday morning in Asia along with most other top 10 non-stablecoin cryptocurrencies after the U.S. filed a lawsuit against Binance.

Bitcoin rose while Ether and most of the other top 10 non-stablecoin cryptocurrencies fell during afternoon trading in Asia on Monday.

Bitcoin and the other top 10 non-stablecoin cryptocurrencies rose on Monday morning in Asia, as investors diversify amid the ongoing banking turmoil.

As banking contagion worries reignited, Bitcoin traded firmly above US$28,000 for most of the week. Considering that Bitcoin was made for a potential banking crisis, industry experts are eyeing the US$30,000 mark for BTC.

Most cryptocurrencies saw a huge increase in price over the past week.

Bitcoin and Ether rose during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Litecoin posting the biggest gains.

Bitcoin bounced back above US$28,000 on Friday morning in Asia amid a rebound in all top 10 non-stablecoin cryptocurrencies and gains in equities overnight.

Bitcoin and Ether fell during Asian trading hours on Friday, along with most of the top 10 non-stablecoin cryptocurrencies by market capitalization, with Binance’s BNB sustaining the biggest loss in the top 10.

The Fed’s decision to hike rates by 25 basis points was along expected lines. So, why are the markets sulking?

Bitcoin fell on Thursday morning in Asia, tracking equities lower after the U.S. Fed indicated interest rates could stay higher for longer.

Bitcoin continued to trade above US$28,000 on Wednesday afternoon in Asia. Ether also rose, along with all other top 10 non-stablecoin cryptocurrencies with XRP and Cardano leading gains.

The IRS intends to tax NFTs as collectibles in the U.S. and is soliciting public opinions on the proposal through June.

Bitcoin held above US$28,000 on Wednesday morning in Asia amid a rebound in most top 10 non-stablecoin cryptocurrencies. XRP led the winners.

WazirX, India’s largest crypto exchange by trade volume, has blacklisted over 2,431 accounts between October 2022 and March 2023, based on its internal monitoring process as well as under the direction of law enforcement agencies (LEA). 

Can DAOs rebuild trust in the crypto industry?

Bitcoin and Ether fell in Tuesday afternoon trade in Asia after rallying through the past week, while financial authorities injected cash into markets to ease liquidity pressures and took other steps to address concerns over a banking sector crisis in the U.S. and Europe. 

Bitcoin traded flat below US$28,000 on Tuesday morning in Asia. Most other top cryptocurrencies retreated ahead of a U.S. decision on interest rates.

The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.

Bitcoin traded above US$28,000 on Monday afternoon in Asia, a gain of 25% over last week, as a banking crisis in the U.S. and Europe prompted traders to see Bitcoin as a safe haven.

Bitcoin briefly breached US$28,000 at the weekend in a bullish run extending into Monday morning in Asia amid worries about bank risk.

Signum Digital said it’s the first company to win preliminary approval in Hong Kong to operate a platform to trade security tokens.

As bank after bank topples, fingers are pointing everywhere. But crypto is not to be blamed for this unfolding crisis, writes Winston Hsiao of XREX.

The court ruling in a lawsuit brought by the SEC against Ripple will have minimal impact on the company’s business, APAC policy director Rahul Advani said.

Guo Wengui, an exiled Chinese billionaire, was arrested in New York on Wednesday for allegedly orchestrating a more than US$1 billion fraud conspiracy that included cryptocurrency, according to the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). See related article: U.S. banking regulators warn against cryptocurrency fraud, contagion risks Fast facts […]

A deal valued at over US$1 billion between Binance.US and Voyager should be put on hold while key legal objections are worked out, says U.S. government.

Bitcoin and Ether rose on Wednesday afternoon in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization. Solana and Polygon were the biggest gainers, both rising above 5% in the last 24 hours.

India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.

Bitcoin and Ether rose the most in the top 10 non-stablecoin cryptocurrencies by market capitalization on Tuesday afternoon in Asia. Cryptocurrencies have been on a rebound since U.S. regulators took charge of the failures in the banking industry and moved to protect deposits across crypto-linked banks.

Bitcoin and Ether gained in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, after U.S. regulators took charge of Silicon Valley Bank and Signature Bank, both with exposure to crypto industry, protecting deposits and confirming that no losses will be borne by the taxpayer. 

Bitcoin fell below US$20,000 for the first time since Jan. 13 on the back of crypto bank Silvergate’s collapse and the U.S. Fed signaling higher than expected interest rate hikes.

Crypto markets slammed by Fed, Silvergate, lawsuits.

Bitcoin and Ether tumbled during Asia trading hours on Friday afternoon, with Dogecoin leading losses among the top 10 largest non-stablecoin cryptocurrencies by market capitalization, pressured by crypto bank Silvergate’s liquidation

The NY State Attorney General is suing crypto exchange Kucoin for not registering as a securities and commodities broker-dealer and calling itself an exchange.

Bitcoin and other leading cryptocurrencies slid Friday morning in Asia, tracking equities amid red flags on interest rates and concern about fallout from the Silvergate collapse.

CFTC chair Rostin Behnam has called Ethereum a commodity and not a security, in apparent contrast to past statements from SEC Chairman Gary Gensler.

Bitcoin and Ether fell in evening trading in Asia Thursday, with XRP the sole gainer in 24 hours among the top 10 non-stablecoin cryptocurrencies by market cap.

Bankrupt crypto lender Voyager Digital received court approval from bankruptcy Judge Michael Wiles on Tuesday to sell its assets and transfer its customers to Binance’s U.S. arm, in a US$1.3 billion deal.

Bitcoin and Ether fell in afternoon trading in Asia on Wednesday, with XRP the sole gainer among the top 10 non-stablecoin cryptocurrencies by market cap.

Stablecoins could have a place in the U.S. financial services sector if appropriate regulation is put in place, Federal Reserve Chairman Jerome Powell said on Tuesday at a hearing before Congress.

Bitcoin and other major cryptocurrencies traded mixed on Wednesday morning in Asia, largely shrugging off the slump in U.S. equities overnight.