U.S.

U.S. cryptocurrency miners would be required to report greenhouse gas emissions under a new bill submitted to the Senate, reflecting criticism the industry is adding to use of fossil fuels blamed for global warming.

The push to regulate DeFi is stronger than ever, and the sector would be wise not to fight but participate in that inevitability, writes Michael Shing of XREX.

Sam Bankman-Fried, founder and former chief executive officer of failed cryptocurrency exchange FTX, tweeted on Monday morning Hong Kong time that he may not testify before the U.S. Congress on Dec. 13.

Companies based in the U.S. and South Korea have filed for more than 75% of patent applications related to the metaverse, VR and AR.

New York became the first U.S. state to enact a temporary ban on new cryptocurrency mining permits at fossil fuel plants, despite lobbying against the measure. 

Sam Bankman-Fried says FTX US is insulated from FTX.com’s liquidity crunch, but the American-based platform could freeze trading in the next few days.

The state of California has launched an investigation into the ‘apparent failure’ of crypto asset platform FTX.

Stocks of Nasdaq-listed Riot fell 4.87% in pre-market trading on Tuesday, after U.S. Bitcoin miner Riot Blockchain on Monday reported weaker revenues in the third quarter of this year.

In a period of toxic divide between the Democrats and Republicans, the need to figure out how to regulate the growing cryptocurrency industry is one of the few issues both parties seem to agree on.

Two Chinese intelligence officers allegedly paid a double agent to help steal files related to a federal investigation into a China-based global telecom firm, reported to be Huawei.

The IRS updated its annual income tax instructions in a Monday draft that does away with the taxable category “virtual currency” and replaces it with the term “digital assets,” which explicitly includes NFTs.

Crypto-asset related activities may pose “novel risks” to banks and their customers, prompting the U.S. Federal Reserve to develop further regulations, Fed vice chair for supervision Michael Barr said in a speech Wednesday at D.C. Fintech Week. See related article: U.S. Fed has growing interest in CBDCs, says Jeng at Crypto Council for Innovation Fast […]

Tornado Cash, the Ethereum coin mixer slapped with sanctions by the U.S. Treasury back in August, has returned to the software hosting website GitHub amid a flurry of lawsuits against the Treasury for its action.

Bank of New York Mellon Corp., a 238-year-old bank based in the U.S., is now allowing select U.S. clients to hold and transfer Bitcoin and Ether, the bank announced in a press release on Tuesday. See related article: Crypto self-custody is no longer a choice. It’s an imperative. Fast facts BNY Mellon will store private […]

The crypto market has been down for months, but the industry’s long-term future is brighter than ever, writes Guilhem Chaumont of Flowdesk. Here’s why.

Cryptocurrency exchange Coinbase Global Inc. said it resolved technical issues on Sunday night that had prevented U.S. bank account users from making payments or withdrawals for most of the day.  See related article: Coinbase gets nod from Dutch central bank to offer crypto services Fast facts “We’ve fully resolved this issue and ACH transfers are […]

The price of XRP rose after a U.S. federal judge Thursday overruled the Securities and Exchange Commission’s (SEC) objections to orders that asked the securities watchdog to disclose drafts of a 2018 speech made by former agency director William Hinman, in its lawsuit against Ripple Labs Inc. See related article: SEC files brief on Hinman […]

A bill that proposed a regulatory and licensing framework for crypto companies was rejected by Gov. Gavin Newsom amid a broader national debate concerning the policing of digital assets.

Binance has tapped Max Baucus, a former U.S. senator and ambassador to China, to chair its new global advisory board, to advise the world’s largest cryptocurrency exchange on regulatory, political and social issues. See related article: Binance stablecoin conversion controversial, but what does it mean for users? Fast facts Binance said on Thursday in a […]

Linda Jeng, chief regulatory officer and general counsel at the Crypto Council for Innovation said the U.S. has seen the writing on the wall and is expanding the conversation about cryptocurrency, in comments at Forkast’s “Crypto Rising: CBDCs & Stablecoins: The Asia Perspective.”

Bitcoin, the largest cryptocurrency by market capitalization, rose more than 3% on Thursday to recover from a sharp drop to under US$19,000 after the Federal Open Market Committee said it would raise interest rates by 75 basis points, or in line with market expectations, to rein in inflation. See related article: Digital dollar takes another […]

The argument centers around if Ripple’s XRP sales were offerings of unregistered securities.

Bitcoin fell below the US$20,000 support line in Friday morning trading in Asia, while Ether saw a sell-off following the long-awaited network “Merge” on Thursday. The total cryptocurrency market capitalization fell below US$1 trillion as all top 10 tokens were trading down. See related article: Ethereum says Merge upgrade successfully completed, more to come Fast […]

The U.S. Securities and Exchange Commission has filed a motion seeking to seal portions of the filings that contain information identifying the SEC’s expert witnesses in its lawsuit against Ripple Labs. See related article: SEC, Ripple take XRP lawsuit battle to media as well Fast facts The SEC wrote in the motion on Friday that […]

White House says carbon footprint of crypto industry does not align with goals to decarbonize the economy.

Two U.S. Federal Reserve officials have called for new regulations specifically for stablecoins and reiterated the new asset class holds risks similar to traditional finance. See related article: Financial Stability Board calls for high regulatory standards for stablecoins Fast facts Michael Barr, the Fed’s vice chair for supervision, said on Wednesday at a Brookings Institution […]

Bitcoin gained almost 2% on Friday evening in Asia after the U.S. Bureau of Labor Statistics reported that the unemployment rate in August rose to 3.7% from 3.5% in July. The figures suggest the U.S. economy is slowing, which may influence the Federal Reserve when it meets this month to decide on raising interest rates.  […]

Binance, the world’s largest cryptocurrency exchange by trading volume, said it has worked with regulatory agencies from around the world to address outstanding compliance questions, following a Reuters report that U.S. federal prosecutors asked the exchange to offer internal records involving founder and CEO Changpeng Zhao for anti-money laundering checks in late 2020. See related […]

The U.S.-based Digital Dollar Project said it will work with Ripple and a few other digital asset firms to launch a technical sandbox program to further study a U.S. central bank digital currency (CBDC). See related article: CBDCs better poised for cross-border payments than Bitcoin, stablecoins: ECB study Fast facts The non-profit initiative announced on […]

Bitcoin gained along with most other top 10 tokens by market capitalization in early morning trading in Asia, though Ether was the pace leader with the larger climb. U.S. equities were little changed overnight. See related article: Markets: Bitcoin edges up, Ether posts biggest gain among top 10 tokens Fast facts Bitcoin added 0.6% to […]

The Federal Deposit Insurance Corporation (FDIC), one of the two federal agencies insuring savings in American depository institutions, may be asking banks to refrain from providing services or extending credit to cryptocurrency companies, Republican Senator Pat Toomey alleged. See related article: New US bill to give CFTC oversight of cryptocurrencies may speed up crypto legislation […]

Bitcoin and Ethereum rose in early morning trading in Asia, along with most other tokens on the top 10 list by market capitalization. BNB rose 3.4% to reach US$325, adding to gains made last week when the Binance exchange, the BNB issuer, said it would add more tokens. Cardano briefly touched a week’s high, up […]

The U.S. bill to bring cryptocurrencies under the oversight of the Commodities Futures and Trading Commission is likely to hasten legislation of such digital assets around the world.

US Senate proposes the CFTC takes responsibility of Bitcoin and Ethereum. Meanwhile, Philippine authorities warn against Binance

The U.S. Senate Agriculture Committee introduced a bill on Wednesday to put the Commodity Futures Trading Commission (CFTC) at the helm of regulating all cryptocurrencies classified as commodities.  See related article: US crypto bill could undermine market protections: SEC, Gensler Fast facts The bill would give the CFTC “exclusive jurisdiction” over all “digital commodities,” which […]

Solana fell 4% in Asia afternoon trading on Wednesday as reports surfaced of a hack that had drained thousands of wallets holding the token. Bitcoin and Ethereum edged higher, though U.S.-China tensions were a broader concern across all markets. Bitcoin traded at US$23,187 as of 4:30 p.m. in Hong Kong, up 1.47% in the prior […]

Beijing’s drive to stamp out crypto mining and the slump in crypto prices are headwinds that Canaan says it knows how to deal with, adding that the crypto winter may be shorter than expected.

Bitcoin was trending lower in early Asia trading on Wednesday with most major cryptocurrencies falling. Bitcoin was priced at US$23,048 as of 8 a.m. in Hong Kong, down 1.2% in the prior 24 hours. Ethereum was little changed at US$1,643, up 0.3%, according to data from CoinMarketCap. See related article: Bitcoin, Ethereum lose ground; Polkadot […]

Chinese crypto mining rig maker Canaan is ramping up its mining business and will soon start self- or joint-mining operations in the U.S., Edward Lu, a senior vice president of Canaan, told Forkast in an interview on Thursday. See related article: Bitcoin rig maker Canaan reports over US$200 mln in Q1 revenue Fast facts “Today […]

Lawmakers in the U.S. House of Representatives are pushing to introduce a stablecoin bill draft this week before the House breaks for August recess, according to four unnamed sources “familiar with the plan” cited by The Block.  See related article: Hold onto your crypto bags, the regulators are coming Fast facts The proposal on stablecoin […]

U.S.-based crypto exchange Kraken is reportedly under investigation by the U.S. Treasury Department’s Office of Foreign Control for allegedly violating economic sanctions against Iran, according to the New York Times. See related article: US charges two Europeans with helping N.Korea evade sanctions with crypto Fast facts Kraken allegedly allowed users in Iran and elsewhere to […]

A report says Bitcoin users are looking beyond investment. Meanwhile, court document reveals strong ties between 3AC and TPS Capital.

The U.S. Senate is unlikely to vote on the bipartisan cryptocurrency bill this year, Republican Senator Cynthia Lummis said Tuesday at the Bloomberg Crypto Summit.  See related article: US crypto bill leaves ‘open question’ on securities: Tessler Fast facts “It’s a big topic, it’s comprehensive, and it’s still new to many U.S. senators,” Lummis said […]

Crypto trading volumes plummet as the crypto winter continues. Meanwhile, India calls on G20 to share information on crypto.

A number of U.S. lawmakers urged the country’s energy and environmental protection authorities to mandate that cryptocurrency miners disclose data on energy use, as seven of the largest mining companies were found to use as much power as all of the homes in Houston. See related article: Bitcoin lobbyists rebut ‘misconceptions’ over environmental impact Fast […]

Many cryptocurrency miners in Texas, one of the largest Bitcoin mining hubs in the U.S., are halting their operations as the state’s electrical grid faces surging power demand amid a heat wave. See related article: Marathon Digital says Montana storm knocked out most Bitcoin rigs Fast facts Nasdaq-listed miner Core Scientific on Tuesday said that […]

The U.S. Office of Government Ethics (OGE) said federal employees of the executive branch owning cryptocurrencies or mutual funds investing in the sector need to recuse themselves from any matter related to the industry. See related article: CFTC Commissioner Pham suggests regulators stay tech-neutral on stablecoins Fast facts The July 5 memo clarified that the […]

In a letter to the U.S. Commerce Department, the National Association of Federally-Insured Credit Unions (NAFCU) warned that the cost of developing a central bank digital currency (CBDC) outweighs the “hypothesized benefits.”  See related article: Hong Kong to research retail CBDC cybersecurity with Israel, BIS Fast facts The organization’s July 5 letter was in line […]

Marathon Digital, a major Bitcoin miner in the U.S., had to halt three-fourths of its mining operations in Montana due to power outages caused by a storm, reinforcing an earlier decision to move out of the region. See related article: Compass Mining CEO, CFO resign after utility payment default allegations Fast facts The Nasdaq-listed company […]

Bitcoin CEO Roger Ver denies defaulting on a loan to CoinFLEX. Meanwhile, Youtuber Bitboy takes aim at Celsius Network.

Crypto hacks facilitated by North Korea help fund its weapons of mass destruction, U.S. Treasury Department’s Brian E. Nelson said on his recent visit to South Korea. See related article: North Korea behind Ronin hack: US Fast facts Nelson met with representatives of South Korea’s Financial Services Commission (FSC) and Financial Intelligence Unit (KoFIU) on […]

The survey by one of the Big Four accounting firms found over 85% of U.S. merchants are prioritizing the enabling of cryptocurrency payments while around 83% are doing the same for stablecoins. See related article: AMC rival Regal enables crypto payments for moviegoers Fast facts The survey found that 87% of merchants believe accepting crypto […]

It’s been a ‘Waiting for Godot’ experience for the crypto industry regarding US approval of a spot Bitcoin ETF. A decision next month by the SEC could bring a lift to crypto markets or be a boon to lawyers.

A bipartisan crypto bill has been introduced in the US Senate. Meanwhile, Singaporean investment company ADDX plans on recognizing crypto assets.

Falling prices, an imploding stablecoin, and more reports of hacks have occupied the cryptocurrency headlines in recent weeks, so it’s perhaps no surprise that regulators have noticed and they intend to do something about it.

Wall Street did it! At least that is one of the theories about the cause of the nearly US$50 billion meltdown of Terraform Labs stablecoin and LUNA cryptocurrency. How does that stand up?

Indian crypto traders may soon be able to pay the crypto tax using foreign exchanges. Meanwhile, the Terra revival plan vote finally goes live.

The 2021 Bitcoin mining exodus has left underground miners thriving to push China’s hashrate share near to the top, new study finds.

Celsius Mining, a Bitcoin mining unit of cryptocurrency lender Celsius Network, is planning to go public, as the company doubles down on its mining business. See related article: SEC scrutinizing crypto lending by Celsius, Gemini, Voyager: reports Fast facts Celsius Mining said on Monday that it filed a Form S-1 draft registration with the U.S. […]

U.S. Treasury Secretary Janet Yellen reiterated her stance on stablecoin regulations and said it’s “highly appropriate” to have a framework ready by the end of this year, as TerraUSD (UST) loses its dollar peg. See related article: Run on UST cuts the ground from under Terra’s feet Fast facts Yellen said at a Tuesday hearing […]

The Securities and Exchange Commission (SEC) said it is expanding its crypto asset enforcement team by adding 20 positions, in a move to bolster its efforts to combat cybercrime associated with cryptocurrency. See related article: Peirce dissents from SEC’s US$100M BlockFi settlement Fast facts The SEC on Tuesday said that its staff strength in a […]

Anthony Scaramucci, founder of investment firm SkyBridge Capital and former White House communications director, says governments such as those in China and the US will inevitably allow for people to own and trade cryptocurrencies.

Signed by MicroStrategy’s Michael Saylor, Castle Island Ventures’ Nic Carter and Block’s Jack Dorsey, the Bitcoin Mining Council’s (BMC) letter to the Environmental Protection Agency (EPA) sought to respond to legislators’ “serious concerns.” See related article: Almost 60% of Bitcoin mining now on sustainable energy: BMC Fast facts BMC’s letter was written in response to […]

Our Happy Company, cofounded by musician John Legend, has raised US$7.5 million in its seed round, as the company looks to expand its music non-fungible token (NFT) platform OurSong. Watch explainer: What does Music have to do with NFTs? Fast facts The financing round was led by Infinity Ventures Crypto and Animoca Brands, the company […]

U.S. Justice Department charges two Europeans for aiding North Korea. Meanwhile, Shanghai’s Covid lockdown popularizes blockchain.

Crypto and stock markets tumbled as the U.S. dollar rallied to its highest point since March 2020 amid concerns of looming interest rate hikes at the U.S. Federal Reserve. See related article: Is Bitcoin really a hedge against inflation? Fast facts The U.S. stock market fell with Nasdaq dropping by 4% on Tuesday over concerns […]

Binance.US, the American crypto exchange set up by Binance cofounder Changpeng Zhao, will exit lobby group Blockchain Association and allocate resources to its own lobbying workforce in Washington, D.C. and state capitals, according to a media report.   See related article: Binance.US wins license in Puerto Rico to fuel growth Fast facts Binance.US is establishing its […]

The U.S. sanctioned Russian cryptocurrency miner Bitriver and its 10 subsidiaries on Wednesday, in an attempt to further isolate Russia from the global economy for invading Ukraine.  See related article: Russia proposes Bitcoin payments for oil and energy exports Fast facts “Russia has a comparative advantage in crypto mining due to energy resources and a […]

Binance.US has obtained a money transmitter license in Puerto Rico, as the world’s largest cryptocurrency exchange continues to expand globally while seeking to become more mindful of compliance. See related article: Binance.US valued at $4.5B following first seed round Fast facts Binance.US CEO Brian Shroder on Tuesday said that Puerto Rico is an important market […]

US authorities says North Korea is responsible for Ronin hack. Meanwhile, Binance and Gulf Energy initiate joint venture.

In Part 1 of a special Forkast series, crypto newcomer Joel Stein dips a toe into Bitcoin and Doge by opening his first-ever crypto wallet.

Oversight by the American commodities regulator of the Bitcoin futures ETF by Teucrium helped with the SEC approval.