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So-called pass-through coverage would insure the holders of these tokens against losses up to $250,000 if the bank holding the collateral were to fail. The Federal Deposit Insurance Corp. (FDIC), a key U.S. banking regulator, is studying whether certainstablecoinsmight be eligible for its coverage, five people familiar with the agency’s thinking said. The discussions are preliminary, and it’s not clear...
In a Tuesday hearing, Gensler told the House Committee on Financial Services that the SEC has no plans to ban crypto. U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler told Congress on Tuesday that the SEC has no plans to ban crypto. When asked by Rep. Ted Budd (R-N.C.), alongtimecrypto supporter and member of the Congressional Blockchain Caucus, if...
El Salvador is looking to bolster adoption of its government-issued Chivo Bitcoin wallet by offering discounts on petrol purchases of $0.20 per gallon to consumers who pay using BTC. El Salvador is looking to bolster adoption of its government-issued Chivo Bitcoin wallet by offering discounts on petrol purchases of $0.20 per gallon to consumers who pay using BTC. Salvadoran president...
The exchange says it has become one of the first VASPs to obtain full licensure approval under Singapore’s Payment Services Act. Crypto exchange Independent Reserve says it has marked an Australian first in receiving a Major Payment Institution Licence from the Monetary Authority of Singapore (“MAS”). The license grants the exchange the approval to conduct its business as a virtual...
Interviews with former and current employees shine new light on the crypto exchange’s complicated relationship with its home country. Months before China’slatest crackdown, the Huobi Global cryptocurrency exchange relocated substantial parts of its operations out of the country, primarily to crypto-friendly Singapore, former and current employees told CoinDesk. Huobi had been trying to develop overseas operations since China’s earlier clampdown...
Investors turn away from centralized exchanges in the wake of China’s blanket ban on virtual currency businesses. Crypto investors seem to be betting that China’s latest blanket ban on virtual currency businesses will be a blessing in disguise for decentralized exchanges (DEX) facilitating direct peer-to-peer transactions without an intermediary. That’s evident from the weekend’s market action.CoinDesk 20data shows native tokens...
The SEC’s Office of Investor Education and Advocacy (OIEA) and Division of Enforcement’s Retail Strategy Task Force (RSTF) remind investors to watch out for investment schemes involving digital assets and “Crypto.” Fraudsters continue to exploit the rising popularity of digital assets to lure retail investors into scams, often leading to devastating losses. “Digital assets” include crypto-currencies, coins, and tokens such...
The SEC’s Office of Investor Education and Advocacy is issuing this alert to urge investors to use caution before investing in so-called “initial exchange offerings” through online trading platforms. Initial exchange offerings (IEOs) are a recent development in the rapidly evolving digital asset space. IEOs are similar toinitial coin offerings(ICOs) in that they are initial offerings of digital assets (e.g.,...
Executives from Saudi Aramco and early FTX backer Kenetic Capital explain how they got comfortable with the Blockchain Service Network developer despite its Beijing ties. For its investors, Red Date was an acquired taste. With fewer than 200 employees, mostly engineers, Beijing-basedRed Date Technologyis building the Blockchain Services Network, an architecture that it hopes will be the underlying infrastructure for...
A “dedicated” operation will commence next year to further DeFi, NFT solutions and blockchain education efforts. Emurgo, the commercial and venture arm of Cardano, is investing $100 million to boost decentralized finance (DeFi), non-fungible token solutions and blockchain education efforts for the world’s fourth-largest blockchain. Announced during the Cardano Summit 2021 on Sunday, Emurgo CEO Ken Kodama said the investment...
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