Cryptocurrency exchange Binance.US has made changes to its terms of service, indicating that direct withdrawals in USD are no longer supported on the platform. The updated terms state that users can convert their USD funds to stablecoins or other digital assets in order to withdraw USD funds from their accounts. This change has caused concern […]
In the absence of specific policies, the regulation of cryptocurrency in the United States has fallen into the hands of judges in bankruptcy proceedings. This situation has both positive and negative implications for the industry. On the positive side, it allows for flexibility and adaptability in addressing the unique challenges posed by cryptocurrencies in bankruptcy […]
In a significant policy change, Binance US, the American arm of global cryptocurrency exchange Binance, has decided to withdraw FDIC insurance coverage for user funds. This move comes amidst an ongoing legal battle with the US Securities and Exchange Commission (SEC), which has accused the exchange of violating federal securities laws. Previously, Binance US users […]
Fintech payments company Ripple has posted a job opening for a shareholder communications senior manager, leading many to speculate that the company is planning to go public. The role involves direct communication with shareholders, which is typically associated with publicly traded companies. The chosen candidate will be responsible for developing communication strategies for investors and […]
Bankrupt cryptocurrency exchange FTX has proposed a plan to return up to 90% of the funds held by creditors before its collapse in November. The plan, which will be filed with a U.S. bankruptcy court by December 16, states that customers with a preference settlement of less than $250,000 can accept the settlement without any […]
Grayscale Bitcoin Trust (GBTC), an investment vehicle for Bitcoin, is currently trading at its lowest discount in almost two years. The discount to Bitcoin’s net asset value (NAV) has narrowed to 15.87% as of October 13th. This discount measures how much a mutual fund or ETF is trading below its true value. The narrowing of […]
California Governor has approved a new regulatory framework for cryptocurrencies, known as the Digital Financial Assets Law. Under this legislation, individuals and businesses involved in digital asset activities will be required to obtain a regulatory license, similar to banks and money transmitters. This move aims to bring more oversight and control to the crypto industry […]
Top US cryptocurrency exchange Coinbase is pressuring the US Securities and Exchange Commission (SEC) to respond to a rulemaking petition it submitted last year. Coinbase is seeking clarification from the SEC on how securities laws apply to digital assets. The exchange’s chief legal officer, Paul Grewal, criticized the SEC’s previous update on the matter as […]
The U.S. Securities and Exchange Commission (SEC) has reportedly decided not to appeal a court ruling regarding Grayscale and its Bitcoin Trust product. Grayscale had sued the SEC after its bid to convert the Grayscale Bitcoin Trust into a Bitcoin ETF was rejected. A federal judge later ruled that the SEC must reconsider the application […]
In a recent development, Terraform Labs, a defunct crypto network, has accused Citadel Securities of intentionally destabilizing its stablecoin, TerraUSD classic (USTC), leading to its downfall in 2022. Terraform Labs has filed a document in a US District Court, requesting Citadel Securities to produce documents related to its trading activities during the time when USTC […]
