Search Results for: RSI

“Mr. Chen, a Chinese individual, was sentenced to nine months for aiding a $13,104 USDT transaction. Viewed as money laundering by authorities due to Chen’s personal bank information involvement, this reflects China’s stringent crypto stance linked to capital control regulations.”

Rumors of the SEC possibly endorsing Ether futures ETFs have factored into a recent rebound in the Ethereum price. However, while firms have requested to launch ETFs, there’s no definitive confirmation of approval. Amidst these speculations and dynamic market fluctuations, informed decision-making is key.

FTX cryptocurrency exchange faces a legal filing involving a proposed settlement with Genesis entities worth $176 million. If successful, FTX and its affiliates could bypass various complications and gain significant economic advantages. Wider discussions highlight the crucial role of such legal decisions in shaping future cryptocurrency regulation and safety.

The U.S. Commodity Futures Trading Commission (CFTC) has granted Coinbase unprecedented authority to handle bitcoin and ether futures, marking it as the first crypto company to receive registration as a futures commission merchant. This significant development indicates robust systems for capital, disclosures, record-keeping, and customer fund segregation, and it might influence how ether and similar commodities navigate the U.S. regulatory regime. However, concerns arise about potential market manipulation and the impact on other crypto-native companies.

“Sotheby’s and Yuga Labs face allegations of conspiracy and deceptive promotion of Bored Ape Yacht Club’s NFTs. This court case, amid a downturn in the wider NFT and DeFi markets, raises questions within crypto community whether such incidents represent a transient phase or a profound shift.”

The Financial Conduct Authority (FCA) of the U.K. has detailed new rules to combat crypto money laundering, including the controversial ‘travel rule’, which requires crypto operators to identify both sender and recipient in fund transfers. Despite industry concerns, the FCA emphasizes these regulations’ role in preventing crypto from becoming a veil for criminal funds.

“PayPal has paused crypto purchases in the UK because of new regulations, creating uncertainty for Bitcoin investors. The temporary halt until early 2024 emphasizes the complexity of the emerging digital asset world, its volatility, and the need for investor caution.”

“Ripple Labs has countered the U.S Securities and Exchange Commission’s (SEC) intent for an appeal over a summary judgment. Ripple’s attorneys dispute the SEC’s ability to meet the Howey test elements, requesting for dismissal of the appeal. Meanwhile, the Canadian cryptocurrency exchange, Kraken, complies with requirements amid regulatory obstacles.”

Coinbase, a major cryptocurrency exchange, has secured approval from the National Futures Association to offer cryptocurrency futures trading in the United States. This will allow Coinbase to launch futures contracts for Bitcoin and Ether, potentially making the U.S. a global leader in digital innovation. Despite facing legal disputes with the SEC, the company remains committed to contributing to the crypto industry.

In a move to uphold industry standards, Dubai’s Virtual Assets Regulatory Authority (VARA) fined the co-founders of 3AC’s new crypto exchange venture, OPNX, $2.7m over a market offense. Absolution isn’t only debt-settling but respecting regulatory frameworks, with unpersistence risking further penalties and marketing the destination of the crypto ecosystem.

“Valkyrie, an asset management firm, has applied for an Ether futures exchange-traded fund (ETF) with the US SEC. An Ethereum-based futures ETF could provide investors a regulated, potentially less volatile method to gain exposure to Ethereum, although concerns about market volatility and speculation persist.”