A recent assessment by the Federal Deposit Insurance Corporation (FDIC) has revealed significant gaps in its ability to provide guidance to member banks regarding cryptocurrency activities. The review was prompted by the volatile nature of the crypto market, which reached a market capitalization of $3 trillion in November 2021 but has since dropped to $1.2 […]
Federal Reserve Bank governor Michelle Bowman has expressed uncertainty about the use case for a central bank digital currency (CBDC) in the United States. Speaking at a roundtable event at Harvard, Bowman suggested that there may be alternative solutions that already address the same issues that a digital dollar aims to solve. She highlighted that […]
The Inspector General’s Office (OIG) of the Federal Deposit Insurance Corporation (FDIC) has released an evaluation report on the corporation’s strategy for managing crypto asset risks. The FDIC adopted a “bottom up” approach to understanding and addressing these risks, which involves assessing supervised institutions’ crypto activities and providing guidance on a case-by-case basis. As of […]
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler discussed the pending spot Bitcoin exchange-traded fund (ETF) proposals in an interview with Bloomberg. Gensler acknowledged that there are around ten Bitcoin ETF proposals awaiting a decision from SEC staff. While he declined to comment on the possibility of approving multiple spot Bitcoin ETFs simultaneously, he […]
The Securities and Exchange Commission (SEC) is showing signs of warming up to the idea of a Bitcoin exchange-traded fund (ETF), according to Cathie Wood, CEO of Ark Invest. Wood stated that the SEC’s recent line of questioning regarding the risks and measures associated with a spot ETF indicates a change in behavior and raises […]
Senator Elizabeth Warren and over 100 lawmakers have signed a letter urging the White House to address the role of digital assets in financing terrorism. The letter, dated October 17, was sent to Treasury Under Secretary Brian Nelson and National Security Adviser Jake Sullivan. It referenced a news article claiming that Palestinian militant groups had […]
EUR-denominated weekly spot volume on Binance, one of the leading cryptocurrency exchanges, has plummeted to a three-year low of $160 million in October 2023. This represents an 88% decrease from the $1.3 billion recorded in March 2023. The decline in trading volume can be attributed to a combination of factors, including regulatory crackdowns and the […]
Bitcoin’s price has remained strong, reaching a high of $28,516 despite economic challenges in the US. This stability may be attributed to increased institutional activity and positive investor interest in Bitcoin. Fidelity Investments, along with other institutions like ARK Invest and Invesco, have amended their spot Bitcoin ETF filings, indicating ongoing dialogue with the SEC. […]
A parliamentary committee in the UK has called on officials to take action against copyright infringement issues related to nonfungible tokens (NFTs). The committee also highlighted the potential risks of sporting groups issuing digital assets. The ease and speed at which NFTs can be minted pose a significant risk to the intellectual property rights of […]
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has imposed sanctions on Gaza-based crypto broker Buy Cash Money and Money Transfer Company (Buy Cash) and its operator, Ahmed M. M. Alaqad, for facilitating crypto transactions for Hamas. Buy Cash, which has ties to terrorist groups, offers money transfer and cryptocurrency exchange services, including […]
