Search Results for: Trading View

The BISIH report submitted to the G20 finance ministers and central bank governors offers contrasting views on cryptocurrencies and central bank digital currencies (CBDCs), highlighting the structural flaws and risks of the crypto ecosystem, while championing CBDCs as the future monetary system. The BISIH posits that cryptocurrencies’ inherent weaknesses limit their significant impact on the monetary system, whereas CBDCs promise stability. It emphasizes not only the binary nature but the complexity of these phenomena, underscoring the challenge in achieving a balance between regulation and innovation.

The Reserve Bank of New Zealand (RBNZ) is taking cautious approach towards crypto-assets, expressing concerns over consumer protection and potential commercial or regulatory barriers. However, ambiguously, the concept of Central Bank Digital Currency (CBDC) has caught its interest, despite its declaration not to replace physical cash.

The U.S. CFTC has initiated a formal review and public comment period to examine prediction market Kalshi’s proposed contracts for betting on political party control of Congress. This development highlights the ongoing debate surrounding prediction markets and their place in the broader financial landscape, as regulators aim to balance opinions and concerns.

Japanese cryptocurrency exchanges urge regulators to reconsider strict margin trading restrictions, as the Japan Virtual and Crypto Assets Exchange Association (JVCEA) advocates for higher leverage limits to boost market growth and attract new participants. The push aims to draw diverse traders and enhance market liquidity.

Binance Coin experiences a 9% bounce amid an SEC lawsuit, causing uncertainty for investors. Meanwhile, AI-powered platform yPredict’s native $YPRED token gains attention for its groundbreaking technology and promising investment potential.

The SEC’s modification of William Hinman’s biography page has sparked speculation among digital asset enthusiasts, given his relevance in the ongoing Ripple-XRP case. Hinman’s 2018 speech on decentralization and the regulatory classification of Bitcoin and Ethereum may influence legislative proposals targeting the digital assets industry, potentially leading to significant SEC oversight and Safe Harbor provisions for certain projects.

In a class action lawsuit against Elon Musk, plaintiffs allege market manipulation of Dogecoin (DOGE) and Bitcoin (BTC), insider trading, and fiduciary relationship creation. The case raises debates on cryptocurrency regulation, oversight, investor protection, and court jurisdiction under the Exchange Act.

The US CFTC is scrutinizing risk management regulations, particularly in the digital asset sector. CFTC Commissioner Christy Goldsmith Romero identified cryptocurrencies as a potential risk, citing unregulated spot markets, operational challenges, and prevalence of fraud. She emphasized reevaluating regulatory oversight for digital assets, artificial intelligence, and cloud services.

Binance, the world’s largest digital asset exchange, removes several trading pairs, including those involving the Australian Dollar (AUD), amid heightened regulatory scrutiny in Australia. This strategic move highlights the ongoing challenges the cryptocurrency industry faces while balancing innovation and compliance with a complex web of laws.

Starting June 1, Hong Kong’s Securities and Futures Commission (SFC) will accept applications for crypto trading platform licenses. The guidelines emphasize platform operators’ responsibility for due diligence and maintaining sufficient capital. Retail investors can access licensed platforms provided operators assess their risk understanding. Requirements for fining platforms breaching anti-money laundering regulations have been clarified, effective from June 1.

The UK Treasury Committee recommends regulating crypto trading as traditional gambling, with the Gambling Commission overseeing the industry. This proposal sparks conflict between the committee and the crypto industry, as the latter sees it as a step backward for the UK’s digital currency aspirations.

South Korean lawmaker Kim Nam-kuk’s crypto investments scandal, involving $4.5 million worth of wemix coins, has led to his resignation and raids on exchanges Upbit and Bithumb. It raises questions surrounding potential insider information, preferential treatment, and the need for increased transparency and fairness in the crypto market.

In a landmark case, former Coinbase employee Ishan Wahi has been sentenced to two years imprisonment for insider trading, setting a legal precedent for the SEC to crack down on similar offenses in the crypto industry. This case highlights the need for increased vigilance, regulatory transparency, and strict compliance measures to ensure a fair and reliable market for all players.