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Cryptocurrency Exchanges

All articles tagged with #cryptocurrency exchanges

cryptocurrency1 year ago

"Bitcoin Whales Withdraw 21400 BTC, Impact of Halving 2024, and Volatility Concerns"

Bitcoin whales have withdrawn over 21,400 BTC from exchanges in a week, cashing out profits as the price surged past $73,000. This massive withdrawal, including a single-day record of $752 million worth of Bitcoin, has led to a supply shock and contributed to a 7% price crash. Long liquidations totaling $145.34 million and the emergence of 13 new whales with holdings of over 1,000 BTC have also impacted the market, with the Bitcoin price falling to $64,909.21 and experiencing a 13% plunge from its all-time high.

via CoinGape|
#bitcoin#btc-whales#cryptocurrency
cryptocurrency-regulation2 years ago

US Treasury Targets Hamas-Linked Crypto Mixers as Money-Laundering Hubs

The Biden administration is designating international cryptocurrency exchanges, known as "mixers," as money-laundering hubs that pose a threat to national security. This move by the Treasury Department aims to combat illicit finance and shape the future of the global financial system. The designation will require special reporting for financial transactions and is part of a broader effort to combat the illicit use of cryptocurrency by terrorist groups, including Hamas.

via The Wall Street Journal|
#biden-administration#cryptocurrency-exchanges#cryptocurrency-regulation
cryptocurrency-regulation2 years ago

Australian Treasury Proposes Licensing Regime for Crypto Exchanges

The Australian Treasury has released a consultation paper proposing to regulate cryptocurrency exchanges instead of individual tokens, requiring exchanges to obtain a financial services license from the local financial regulator if they hold more than $3.2 million or $946 per individual. The proposed regulatory framework aims to address consumer harms while supporting innovation in the digital asset sector. The proposal has received mixed reactions from crypto exchanges, with some calling it thoughtful and others expressing disappointment at the approach of fitting crypto into existing financial services regulation. The Treasury is seeking feedback on the proposal until December 1, 2023.

via Cointelegraph|
#australia#consultation-paper#cryptocurrency-exchanges
cryptocurrency2 years ago

Crypto Foundations Defend Against SEC's Security Label

Prices of Solana's SOL, Cardano's ADA, and Polygon's MATIC stabilized and reversed some losses after a sudden sell-off over the weekend. The development foundations of these tokens released statements hitting back on U.S. Securities and Exchange Commission (SEC) allegations, likely boosting investor confidence. The SEC accused crypto exchanges Binance and Coinbase of multiple charges, such as offering unlicensed securities to U.S. investors, and named alleged tokens to be securities. On Saturday, prices of SOL, ADA, MATIC fell as much as 30%.

via CoinDesk|
#ada#cryptocurrency#cryptocurrency-exchanges
cryptocurrency2 years ago

Crypto Exchanges Face Regulatory Challenges and Legal Battles

The US SEC has filed lawsuits against Binance and Coinbase, alleging unregistered offerings and sales of tokens, and failing to register as an exchange or broker-dealer. The SEC has now labeled an estimated 67 cryptocurrencies as securities, including those named in the lawsuits against Binance and Coinbase. Meanwhile, Binance.US has suspended USD deposits and warned of a fiat withdrawal pause due to regulatory pressure. Bitcoin may see a 60% upside if a long-term chart feature stays intact, according to a popular trader.

via Cointelegraph|
#binance#bitcoin#coinbase
cryptocurrency2 years ago

Bitcoin's Resilience Amid SEC Scrutiny Signals Potential for More Gains.

The SEC's recent lawsuits against Coinbase and Binance have caused turmoil in the cryptocurrency industry, but bitcoin remains a safe bet as it is not considered a security by the regulator. Bitcoin's market share has risen as investors seek out the world's largest cryptocurrency. While the SEC listed 19 different crypto tokens in its lawsuits that it considers securities, accounting for roughly 11% of crypto's total market capitalization, bitcoin remains unaffected.

via Yahoo Finance|
#binance#bitcoin#coinbase
cryptocurrency2 years ago

Binance.US CEO Resigns Amid SEC Complaints and Lawsuit.

The SEC's latest complaint against Binance could explain why former Binance.US CEO Brian Brooks resigned in August 2021, only three months after his appointment. The complaint cites an "unnamed source" who ran Binance.US for a brief period in 2021, which correlates with the time Brooks was CEO. Brooks reportedly realized he was "not actually the one running this company" and decided to leave. The news comes as the SEC presses 13 charges against Binance for allegedly operating illegally in the US. The price of cryptocurrencies, including Bitcoin and Ether, and shares of publicly-traded crypto companies in the US, such as Coinbase, have witnessed a sharp decline in price. Analysts believe that Coinbase could be the next target of SEC enforcement.

via Cointelegraph|
#binance#brian-brooks#coinbase
cryptocurrency2 years ago

Coinbase faces SEC enforcement action despite request for clarity.

Berenberg has initiated coverage of Coinbase with a hold rating and a price target of $55, stating that the Securities and Exchange Commission (SEC) will soon bring enforcement action against the crypto exchange. The action is likely to mirror those brought against rival exchanges Bittrex and Kraken. Berenberg estimates that at least 37% of Coinbase's Q1 net revenue came from transaction fees and spreads from trading crypto tokens other than bitcoin, which may be targeted by the SEC. Shorting Coinbase shares is too risky, Berenberg said, as around 23% of its free float is already sold short.

via CoinDesk|
#coinbase#cryptocurrency#cryptocurrency-exchanges
cryptocurrency2 years ago

Bitcoin's BRC-20 Tokens Drive Market Cap and Network Congestion.

The market cap of tokens built on top of Bitcoin's blockchain has approached $1 billion as ORDI, the first such token, was listed on major exchanges. BRC-20 tokens, an experimental framework for building fungible tokens on Bitcoin using Ordinals, have surged in value and number of tokens in circulation over the last few days. Ordi, which has a market cap of around $400 million, was listed for trading on Crypto.com and Gate.io, suggesting the experimental token is gaining mainstream adoption on cryptocurrency exchanges. The popularity of BRC-20 tokens is having a noticeable impact on Bitcoin transactions, overall.

via Decrypt|
#bitcoin#brc-20#cryptocurrency
cryptocurrency2 years ago

SEC files lawsuit against Bittrex and former CEO for securities violations.

The SEC has filed charges against Bittrex, accusing the exchange of failing to comply with securities law by not registering with the financial watchdog in several areas, including as a broker-dealer, exchange, and clearing agency. The lawsuit names Bittrex, Bittrex Global, and former CEO Bill Shihara, alleging the exchange took in at least $1.3 billion in illicit revenue between 2017 and 2022. The SEC's attempt to go after Bittrex represents the latest development in a string of enforcement actions brought by U.S. regulators, targeting several cryptocurrency exchanges so far this year.

via Decrypt|
#bill-shihara#bittrex#cryptocurrency
cryptocurrency-regulation2 years ago

SEC's DeFi Crackdown Sparks Congressional Action and Industry Debate

The US House Committee on Financial Services will hold a hearing on SEC oversight, with SEC Chair Gary Gensler as the star witness, while the Subcommittee on Digital Assets, Financial Technology and Inclusion will take up draft legislation relating to stablecoins. The draft bill includes extensive definitions, establishes requirements at the federal and state level to issue stablecoins, and sets up standards for interoperability, reporting, and enforcement. The legislation also calls for a two-year moratorium on new stablecoins until a study can be completed by the US Treasury.

via Decrypt|
#cryptocurrency-exchanges#cryptocurrency-regulation#digital-assets
cryptocurrency2 years ago

FTX Founder Sam Bankman-Fried Charged with Attempted Bribery of Chinese Officials.

Sam Bankman-Fried, the co-founder of FTX, has been charged with bribing Chinese officials to unfreeze accounts at Alameda Research, a Hong Kong trading firm affiliated with FTX, holding more than $1 billion. Bankman-Fried now faces 13 criminal counts, including conspiracy to violate the Foreign Corrupt Practices Act. He has pleaded not guilty to several fraud charges. Bankman-Fried and others sought to regain access to the assets held in Alameda accounts to fund additional trading activity.

via Los Angeles Times|
#bribery#china#cryptocurrency