Regulation – Page 11

A Project Aiming to Bring DeFi to the Next Stage –

There’s no doubt that DeFi is one of the hottest trends in crypto right now. But what does the future hold for this burgeoning sector? A few key factors will play a role in shaping the future of DeFi. First, there’s the continued rise of crypto assets. As more and more people invest in crypto, the demand for DeFi products and services has the potential to grow. Additionally, the increasing regulation of the crypto space will create more opportunities for DeFi...

ECB Says Bitcoin Ban “Probable” Due to Climate Concerns

Key Takeaways

The European Central Bank has come down hard on Proof-of-Work blockchains in a new research article. The research article compares Proof-of-Work algorithms to fossil fuel cars while likening Proof-of-Stake to electric vehicles. The article speculates that the EU would not proceed with planned restrictions on fossil fuel cars without also taking action against Proof-of-Work cryptocurrencies.

Share this article

A new European Central Bank report has questioned whether climate risk is priced into crypto assets such as Bitcoin.

ECB Condemns Proof-of-Work Blockchains

The...

Is Celsius Selling All Withdrawn stETH To Coinbase Custody?

Beleaguered crypto lender Celsius has now withdrawn all staked Ethereum (stETH) collateral after repaying its USDC loan completely on Aave and sent it all to another address. In fact, the address seems to be of Coinbase Custody after CEO Ryan Bozarth hints they bought stETH from the crypto lender at discount. Meanwhile, the pressure on Celsius to disclosure their financials are rising after Vermont joins other U.S. states in investigating the troubled crypto lender.

Is Celsius Selling stETH to Coinbase Custody

Celsius...

Full Bitcoin Mining Ban On Europe? ECB Think It’s Probable –

Venture advisor for Presight Capital Patrick Hansen shared the results of three new research articles on Bitcoin and crypto’s climate risk, decentralized finances (DeFi), and stablecoins. Published by the European Central Bank (ECB), the articles highlight the approach adopted by the financial institution regarding the nascent asset class. Related Reading | Bitcoin Supply Still Not Underwater Enough For Historical Bear Bottom Zone The ECB research compared Bitcoin mining with someone driving a fossil fuel car. In that sense, they...

Federal Reserve Vice Chair: ‘Crypto Platforms Are Highly Vulnerable to Deleveraging’

On Friday (July 8), Dr. Lael Brainard, who “took office as the Vice Chair of the Board of Governors of the Federal Reserve System on May 23, 2022,” spoke at a Bank of England Conference in London, UK. Dr. Brainard has “served as a member of the Board...

Will UK Crypto Laws Get Friendlier After PM Boris Johnson’s Resignation?

Boris Johnson is set to resign as the leader of the Conservative Party, BBC reports. He is then expected to stand down as the Prime Minister in October. According to Time, Rishi Sunak, the chancellor of the exchequer under Johnson, is a favourite to replace Johnson as the next Prime Minister of Britain. If Sunak indeed becomes the leader of the British Government, it could be good news for the crypto ecosystem in the UK. Johnson’s resignation comes as a result...

Johnson’s Political Woes Inadvertently Set Back U.K. Crypto Regulation

Key Takeaways

U.K. Ministers Rishi Sunak and John Glen’s resignations in the last couple days are likely to slow down the nation’s efforts to turn itself into a crypto-friendly jurisdiction. Glen in particular was considered a vital bridge between industry leaders and regulators; his replacement is expected to need considerable time to get up to date with the situation. Their resignations come following Prime Minister Boris Johnson’s public mishandling of a sexual misconduct scandal involving the government’s former Deputy Chief Whip.

Share this...

Singapore’s Central Bank Wants to Limit Retail Participation in Crypto

Key Takeaways

The Monetary Authority of Singapore's chairman told the Singaporean Parliament today that the central bank may seek to limit retail participation in the crypto markets. It also plans to restrict leverage trading tools. The central bank has already forbidden crypto advertisements in public spaces and marketing that trivializes the risks of trading. Contrary to European regulatory bodies, MAS appears more concerned with protecting consumers than regulating anonymous transactions.

Share this article

The Monetary Authority of Singapore is looking into limiting retail participation...

Circle CEO Explains Why Holders of Stablecoin USD Coin ($USDC) Should Feel Safe

On Sunday (July 3), Circle Internet Financial Limited Co-Founder, Chairman, and CEO Jeremy Allaire explained why holders of its fiat-collateralized and fiat-pegged stablecoin USD Coin (USDC) should not be worried (in the aftermath of the Terra ecosystem collapse). As Circle’s Chief Financial Officer Jeremy Fox-Geen stated in...

EU Agrees To An Agreement On Markets in Crypto Assets regulation (MICA); Details

Europe becomes the first continent to come to an agreement on crypto regulation as reported by Stefan Berger, a MICA parliamentarian. This groundbreaking decision comes in the wake of France passing the baton of the Presidency of the Council of the European Union to Czech Republic.

First continent to agree on crypto regulatory policies

MiCA is a regulatory framework that was created in 2018 to establish a standard licensing system across all EU member states by 2024 and help...