Features Crypto News by Thebittimes.Com

Ripple’s XRP token hit a new all-time high after more than seven years. The asset climbed to $3.65 on July 18, amid a market-wide rally. Bitcoin (BTC) had hit a new peak just a few days earlier, and BNB was also on its way to new highs. While XRP did hit a new all-time high, the asset’s price has never gone beyond the $5 mark. Fans and investors have long sought for XRP to hit the $5 target. And the asset may be right on its way to hit its desired target. What May Push XRP’s Price To $5? Source: coinpedia.org Ripple’s XRP Ledger has seen an incredible rise in adoption over the last few years. Japanese banks, in particular, have begun using Ripple’s services for cross-border transactions. Ripple has also launched its RLUSD stablecoin earlier this year. The stablecoin launch will likely lead to more people using the XRP Ledger. Also Read: Japan’s SBI Files XRP/Bitcoin ETF as 80% of Banks Adopt Ripple Tech Ripple’s move is important because the US House ...

As C.H. Spurgeon famously said, “a lie will go round the world while truth is pulling its boots on.” Early Sunday morning, Beijing time, that very thing happened. Wild rumors, apparently starting on Telegram and filtered through Elon Musk’s X, began to surface that China had implemented yet another ban on crypto and Bitcoin. Eventually, these rumors made it to major accounts with millions of followers, including FirstSquawk, PolyMarket, Kalshi, and Unusual Whales, who all reported it without any sourcing. The problem? It’s fake news. This “breaking news” isn’t new to anyone who’s been involved in crypto since 2016 — 2021 because almost every single year someone suggests that China has, yet again, banned it. There have actually been specific bans implemented on cryptocurrencies in China: in 2021 the National Development and Reform Commission pushed for crypto mining activities to cease, though older mining farms were allowed to continue to conduct business for a pe...

One of the bigger surprises toward the end of 2024, VeChain, has kicked off the year with notable gains, as VET looks to be back on pace for a return to $0.1. Indeed, the cryptocurrency is among the most intriguing considering the important work that the project is doing in developing the technology. Late last year, the project debuted its VeChain Renaissance, a technical roadmap that looks to adapt the token for a new world. Specifically, the network has debuted the updated protocol for a world embracing mass adoption. Considering how 2024 ended; that could become a reality sooner than anyone expected. Source – blockchainreporter Also Read: VeChain Surges 12%: How High Will VET End 2024? VeChain Welcomes 2025 With 4.8% Jump as VET Looks to Surge With a tremendous year in the rearview mirror, the cryptocurrency market is expecting big things in 2025. In the United States specifically, favorable regulation on the horizon has a massive shift impending. That reality has firms like $1...

Previously Noah Perlman worked for the cryptocurrency exchange Gemini as the Chief Compliance Officer and then as the Chief Operating Officer. Prior to crypto, Noah had built a compliance-related career spanning decades in leadership positions across big law, United States’ Drug Enforcement Administration (DEA), and banking giant Morgan Stanley. https://www.binance.com/en/blog/compliance/noah-perlman-building-a-culture-of-compliance-at-binance-5889944569329388319 1. Please introduce your professional background. Hi, my name is Noel Brahman. I’ve been the Chief Compliance Officer in a finance role for almost two years. Prior to this, I worked at another crypto exchange, Gemini, which was founded by Tyler and Cameron Winklevoss. Before entering the crypto space, I spent nearly 14 years in traditional finance at Morgan Stanley, holding various legal and compliance roles. I actually began my career in government, serving as a federal prosecutor in New York and as counsel to the U.S. Drug E...

The Future of Money and DeFi: A Financial Revolution in the Making! As we stand at the crossroads of a rapidly evolving financial landscape, the concept of money itself is undergoing a monumental transformation. Decentralized Finance (DeFi) is at the heart of this shift, promising to reshape not only how we view money but also how we interact with financial systems. By leveraging blockchain technology, smart contracts, and decentralized protocols, DeFi offers an alternative to traditional banking that could democratize finance, foster innovation, and create new economic opportunities. In this article, we’ll explore the future of money through the lens of DeFi and examine the profound implications this movement holds for the global economy. The Evolution of Money Money, in its traditional form, has been a central pillar of economic systems for millennia. From bartering systems to gold, paper currencies, and digital transactions, the essence of money has always been tied to a centralized...

The Monetary Authority of Singapore has warned retail investors against buying spot Bitcoin ETFs following U.S. approval. The Monetary Authority of Singapore (MAS) has cautioned retail investors in the country against purchasing spot Bitcoin exchange-traded funds (ETFs) following the recent approval of such funds in the U.S. MAS, in response to inquiries from CNA, issued a cautionary statement for individuals considering engaging in the trading of these products in international markets, emphasizing that spot Bitcoin ETFs have not been approved as eligible assets for collective investment schemes (CIS). “Given this, spot Bitcoin ETFs are not approved by MAS for offer to retail investors .” The Monetary Authority of Singapore You might also like: Singapore’s prime minister issues warning following deepfake crypto video with him The regulatory stance of Singapore on crypto might change in light of recent approvals by the U.S. Securities and Exchange Commiss...

In an ambitious move to position the U.K. as a front-runner in the cryptocurrency sector, the government and the Bank of England (BOE) are introducing sweeping regulations for stablecoins and digital currencies. The BOE’s strategy primarily focuses on regulating stablecoin s integral to payment systems by early 2024. This approach is driven by a belief that stablecoin s, typically linked to stable assets like the British pound, pose less risk to the financial system compared to other crypto currencies. Consequently, the BOE’s regulatory framework is designed to maintain the resilience of these digital currencies within significant payment infrastructures. JUST IN: Bank of England proposes allowing stablecoins as a payment option for goods and services. — Watcher.Guru (@WatcherGuru) November 6, 2023 Moreover, the Financial Conduct Authority (FCA) will oversee the broader crypto market, ensuring a comprehensive regulatory umbrella covering all aspects of digita...

Coinbase’s executive responsible for inter national expansion , Nana Murugesan, will leave the firm in 2024 amid EU expansion . Coinbase’s Vice President of Inter national and Business Development, Nana Murugesan, is leaving the crypto exchange as the company seeks to expand services in Europe under the new Markets in Crypto-Assets (MiCA) regulation. 1/3 Really enjoyed my two incredible years at Coinbase. Thank you @brian_armstrong, @emiliemc and team for this amazing journey 🫡 It was a privilege to criss-cross the globe to build the foundation for growth. Sharing some reflections on my time here: https://t.co/4h0pwKmtUu — Nana Murugesan ️ (@NanaMurugesan) November 13, 2023 Although Murugesan did not elaborate on the reason for the move, he said in an X post on Nov. 13 that he will leave the company in Q1 2024. However, he will stay at the firm as an advisor until July 2024. As of press time, it is unclear who will replace him. You might also like: Co...

U.S. Representatives Zach Nunn and Abigail Spanberger have introduced the CLARITY Act of 2023, a bill aimed at prohibiting federal officials from transacting with Chinese blockchain companies to safeguard national security interests. In a bipartisan initiative, Representatives Zach Nunn and Abigail Spanberger introduced the Creating Legal Accountability for Rogue Innovators and Technology Act of 2023, commonly known as the CLARITY Act. This proposed legislation targets a very contemporary issue: The engagement between U.S. federal officials and Chinese blockchain entities. If enacted, the act will unequivocally prohibit federal government employees from using Chinese blockchain networks and from transacting with certain Chinese companies, including iFinex—the parent company of Tether, a well-known cryptocurrency stablecoin issuer. So this new “Clarity Act” would mean the US government employees won’t be able to hold #Ethereum right??? It’s a Chinese blockchain company right ...

The “evidence” of violations provided by the SEC points to Kwon’s involvement in misleading crypto investors by creating and marketing Terra and its in-house Terra (LUNA) tokens as securities. The United States Securities and Exchange Commission (SEC) has refuted the jury’s conclusion regarding Terraform Labs’ alleged violations and has demanded a summary judgment on all the claims.  A court filing from Oct. 27 showed the SEC’s reluctance to accept the jury’s leniency on Do Kwon and his involvement in facilitating the frauds that eventually led to the collapse of Terraform Labs. The filing, directed to the U.S. district court - Southern District of New York, read: “No rational jury could conclude that Kwon was not liable for Terraform’s violations of Exchange Act Section 10(b) and Rule 10b-5 thereunder pursuant to Exchange Act Section 20(a).” The “evidence” of violations provided by the SEC points to Kwon’s involvement in misleading crypto investors by creating and marketing Terra...

The price of the SUI token plummeted after allegations of supply manipulation from regulatory officials in South Korea. Sui's native SUI token has struggled to regain ground after plunging more than 9% amid allegations from South Korean regulators, which have accused the Sui Foundation of manipulating the supply of the token for its own gain.  SUI token gained a little under 1% in the last 24 hours after falling from $0.41 on Oct. 16 to new lows of $0.37 on Oct. 18. Current prices mark a 7% decline in just two days, according to data from CoinGecko. The price of the SUI token has struggled to regain ground amid allegations of supply manipulation. Source: CoinGecko In an Oct. 18 post to X (formerly known as Twitter), the Sui Foundation — the organization behind layer-1 blockchain Sui — slammed the allegations of supply manipulation as “ unfounded and materially false.” “We want to address some inaccuracies that have been reported today,” said the Sui Foundation. "The un...

Malta has joined France and other EU nations in revising its existing crypto regulatory policies to align with MiCA coming into effect in December 2024. Malta’s Financial Services Authority (MFSA) has begun public consultation over changes in its crypto regulations in order to align with Europe’s Markets in crypto -assets (MICA) regulations set to take effect in December 2024. The public consultation period is open until Sept. 29. The revised rulebook proposes changes to the rules for exchanges, custodians and portfolio managers in order to align with the European Union’s MiCA. Malta first established its crypto framework in 2018 with the Virtual Financial Assets (VFA). Some of the notable changes with respect to the VFA Rulebook are: MFSA has removed the systems audit requirement for VFA license holders. The capital requirements for Class 3 and 4 licence holders were reduced to $133,000 (€125,000) and $159,000 (€150,000) respectively. The professional indemnity insurance requi...

The Republican candidate also pledged to rescind all federal regulations that fail the Supreme Court’s major questions doctrine test in the West Virginia vs. EPA case — a potentially positive for crypto. United States presidential candidate Vivek Ramaswamy has lauded Grayscale’s recent victory over the federal securities regulator, arguing the decision will help keep Bitcoin and blockchain innovation from going overseas. In an Aug. 30 post on X (formerly Twitter) the pro-Bitcoin Republican candidate took shot at a “shadow” U.S. government, pointing the blame towards the “unlawful rogue behaviors of “3-letter government agencies” — presumably the Securities and Exchange Commission. Ramaswamy said this has led to the U.S. courts to serve as a last line of defense to help keep cryptocurrency innovators in the country, adding that it shouldn’t have reached the courts in the first place. “This decision is strong and clears a path to keep Bitcoin & blockchain innovation in the U.S. ...

An un disclosed SEC memo, spotlighted in a recent Twitter discussion, questions the agency’s initial stance on XRP’s classification, complicating Ripple’s ongoing legal battle . Bill Morgan highlighted a memo discussing the SEC’s internal views on XRP’s security status. John Deaton, in his response, clarified that the memo didn’t label XRP as a non-security but indicated no enforcement recommendations, suggesting the SEC didn’t initially view XRP as a security. To be clear, I didn’t say the memo concluded XRP is not a security. The memo was found to be privileged and not disclosed so I haven’t read exactly what it says. But Judge Netburn found it important to note that the authors of the memo, who were Enforcement lawyers at the SEC,… — John E Deaton (@JohnEDeaton1) August 27, 2023 Impact on Ripple’s Lawsuit Deaton pointed out that if the SEC was unsure about XRP’s status in 2018, it’s questionable to accuse Rip...

Blockchain Australia, the country’s peak crypto industry body has announced a new CEO who wants to speed up the crypto regulatory process. Blockchain Australia’s new CEO Simon Callaghan hopes the Federal Government will take its cues on crypto regulation from the United Kingdom, Hong Kong, and Singapore — and definitely not the United States. In his new position, Callaghan aims to steer crypto rule-making in the country and avoid making similar moves to the U.S. Securities and Exchange Commission — which is suing the world’s two largest exchanges and has branded at least 68 tokens as securities. “Regulation by enforcement is the equivalent of having a hammer and seeing everything as a nail. I don’t think that’s the right approach for Australia to be taking.” Callaghan gave a speech at Blockchain Week, announcing his tenure as Blockchain Australia's CEO. On June 26, Callaghan was announced as the industry peak body’s new CEO. He was most recently the digital assets program lead...

Montana is could face a series of changes if its pro-crypto mining bill is approved. The Montana Senate recently passed a bill designed to protect crypto miners operating within the state. The proposed law, which is currently making its way through the state's House of Representatives, seeks to protect both individual and commercial miners in Montana against discriminatory laws by scrapping some of the rules that have the potential to undermine their operations. Specifically, the bill seeks to protect miners against taxes on digital assets used as a means of payment. Additionally, it endeavors to permit home crypto miners who use less than 1 megawatt of energy annually to do so, except when in contravention of existing noise bylaws. Furthermore, it seeks to do away with any energy rate classification that discriminates against home crypto mining and digital asset businesses. The bill comes after years of concerted efforts by lobbyists and crypto companies to put more crypto-favor...