Regulation – Page 20

Billionaire VC Says Both Bitcoin and USD Dominating World Economy

Billionaire venture capitalist Chamath Palihapitiya, who is the founder and CEO of investment firm Social Capital, is pushing back on the notion that Russia’s invasion of Ukraine will be a net positive for cryptoassets at the expense of the US dollar. Palihapitiya, who has been a supporter of cryptoassets, says...

XRP soars >15% as Ripple wins the “Fair Notice Defense, but what’s next

The San Francisco-based payments company has long argued that the SEC didn’t give adequate notice of considering XRP to be a security. In fact, Brad Garlinghouse, CEO at Ripple had reiterated the same in a 19 February tweet. Nonetheless, sensing a possible victory, defendant had clamped down on the SEC with different significant strikes.

Checkmate?

Ripple Labs (Defendant) struck yet again as the judge, Analisa Torres denied the SEC’s motion to strike Ripple from using...

“Responsible Development of Digital Assets”: Biden’s Executive Order Unpacked

Key Takeaways

The Biden administration has issued and signed an executive order that will shape policies around cryptocurrency. The order means that various government agencies will file reports on crypto regulation over the coming months. The order extensively discusses the possibility of a central bank digital currency (CBDC), among other topics.

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The Biden administration has issued an executive order that will help determine the U.S. government’s crypto policy in the months ahead.

Order Will Create New Policies

Early today, President Joe Biden signed...

Biden Signs Executive Order on U.S. Crypto Strategy

Key Takeaways

U.S. President Joe Biden has signed an executive order directing relevant government agencies to do more research on crypto. The goal of the order is to establish a "whole-of-government approach" to supervising and regulating the crypto industry. The order also directs the government to explore the nation's needs and capabilities for launching a sovereign central bank digital currency.

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U.S. President Joe Biden has signed an executive order on “Ensuring Responsible Innovation in Digital Assets.”

Biden Signs Executive Order on Crypto

President...

Bitcoin’s Correlation With Stocks Hits 2-Month Low: Will It Decouple?

Bitcoin’s latest rally saw it diverge further from the equity market. While stock markets slumped further on news that the United States will ban Russian oil, the world’s largest cryptocurrency rallied more than 6% to break above $41,000.

Bitcoin outperformed stocks last month

The token has found its footing in recent weeks, despite tumbling in line with equities in the initial stages of the Russia-Ukraine conflict. It has lost about 6% in the last 30 days, compared to a 9% drop...

Treasury Department Seeks to Educate the Public on Risks of Crypto Investing

Key Takeaways

The U.S. Treasury wants to increase awareness and educate American households about the risks of investing in cryptocurrency. The initiative is being led by the Treasury’s Financial Literacy Education Commission. Nellie Liang, Treasury Under Secretary for Domestic Finance, has expressed her concerns about regulating digital assets in the past.

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The Treasury Department will kickstart an initiative to educate consumers about the potential risks of investing in cryptocurrency. The initiative, which will be conducted by the Treasury’s Financial Literacy Education...

Congress Could See Stablecoin Bill by End of March

Key Takeaways

Competing bills concerning the regulation of stablecoins and their reserves could be introduced in Congress this month. Representative Josh Gottheimer produced an earlier draft of the bill, similarly aimed at regulating reserves, this February. The aim of the bill is related to the President’s Working Group on Financial Markets (PWG) and past Tether controversies.

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A bill regulating stablecoins within the U.S. could be introduced as early as this month, according to a report from Blockworks.

Bills Could Be Introduced This...

Biden Will Sign Executive Order on Crypto This Week: Report

Key Takeaways

The Biden administration is reportedly planning to sign and release an executive order pertaining to cryptocurrencies by midweek. The executive order would provide instructions to government agencies, who would report back in three to six months. It was previously expected that this order would be signed around Feb. 18, but the matter was delayed.

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U.S. President Joe Biden is preparing to sign an executive order on crypto strategy this week, according to Bloomberg.

Biden Executive Order Imminent

According to sources familiar...

Virginia Will Now Allow Banks To Offer Crypto Custody Services

Virginia’s Senate on Friday unanimously approved a bill that will allow banks in the state to provide crypto custody services, granted they have enough resources to manage the associated risk. The bill will go into effect once it is signed by Governor of Virginia Glenn Youngkin. The bill effectively allows banks to be able to hold wallet keys for customers, and is geared more towards institutional investors with large crypto holdings.

Bill intended to boost crypto investment in Virginia

The bill, no....

Bitcoin on the Brink of a New Uptrend

Key Takeaways

Bitcoin surged above $45,000 Wednesday. The bullish price action signals a potential trend reversal. Breaking $48,250 could send BTC towards $56,000.

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Bitcoin is back in the spotlight after gaining more than 20% in market value over the last three days. Further upward pressure may have the strength to kick start a new uptrend.

Bitcoin Regains Lost Ground

Bitcoin continues trending upwards, signaling the possible beginning of a new uptrend. The flagship cryptocurrency is on the rise as the buying pressure behind...