CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data

Most notably, the SEC alleges that at least 13 crypto assets available to Coinbase customers — including Solana’s sol, Cardano’s ada, and Protocol Labs’ filecoin — should be considered securities, meaning they’d need to forbes news 247 be subject to strict transparency and disclosure requirements. Cryptocurrency resembles currency operating independently without the need, for banks. As the landscape of money continuously evolves it is crucial for all individuals involved to remain vigilant. Staying informed about cryptocurrency prices, regulatory developments, technological advancements and corporate adoption becomes paramount.

Vietnam Police Bust $1M Crypto Scam Linked to Ancient Treasures

France has been tempting crypto companies and traders alike to its shores with the promise of tax cuts on crypto profits and a smoother registration process for digital asset firms. “However, other regions, including Singapore, Dubai, Hong Kong, and the European Union, are also developing robust regulatory frameworks,” Perry added. “While these regions may not be as visible in international media for enforcement actions, they possess significant and sometimes stringent regulatory mechanisms.” It also sought to tackle a perceived threat from so-called stablecoins, or blockchain-based tokens that serve as a representation of government money but are backed by private companies. Stablecoins are effectively digital currencies that are pegged to the value of fiat currencies like the dollar.

More widespread adoption

  • Cryptocurrency resembles currency operating independently without the need, for banks.
  • Crypto market participants nevertheless hope that the spate of legal challenges brought to crypto companies in 2023 will bring clarity in the form of new regulations.
  • South Korean trading volumes supported an outperformance in XRP, as a CoinDesk analysis noted earlier this week.
  • France has been tempting crypto companies and traders alike to its shores with the promise of tax cuts on crypto profits and a smoother registration process for digital asset firms.

A South Korean man accused of being responsible for a cryptocurrency crisis which cost investors $40bn (£31.8bn) has finally been extradited to the United States. In 2022, in a bid to lead the virtual assets sector in the Middle East and Africa, Dubai — the UAE’s most populous city — launched VARA, or the Virtual Asset Regulatory Authority. Hong Kong, meanwhile, is undergoing a public consultation on stablecoins and seeks to introduce regulation next year.

Crypto News

Why a U.S. Bitcoin Strategic Reserve Is Critical to Fending Off China

“However, much of their work has involved providing guidance to the industry through enforcement actions,” continued Levin. “Other countries have a comprehensive regulatory framework in place. We don’t,” Mariotti told CNBC. “As a result, issues that should be determined by legislation or regulation are instead litigated.” Buying solana (SOL) is straightforward, but with numerous crypto exchanges on the market, it’s crucial potential investors consider other key factors before making a purchase.

The U.K., a non-member of the EU, passed a law in June that gives regulators the ability to oversee stablecoins. Crypto market participants nevertheless hope that the spate of legal challenges brought to crypto companies in 2023 will bring clarity in the form of new regulations. Coinbase CEO Brian Armstrong condemned the SEC’s actions against the exchange and suggested the company may be forced to move its headquarters overseas. Armstrong later walked back the threat of relocating abroad, but Coinbase and other major crypto firms have still begun to invest more heavily in their international operations. But crypto companies have begun to push back, with some threatening to decamp from the U.S. entirely should this dynamic of policing by enforcement continue.

read more