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Regulatory Uncertainty

All articles tagged with #regulatory uncertainty

businesstech2 years ago

GameStop Shuts Down NFT Marketplace After 18 Months

GameStop is shutting down its NFT marketplace after 18 months due to regulatory uncertainty in the crypto space. The company had previously committed to the crypto space but has now decided to wind down its NFT marketplace, with customers no longer able to buy, sell, or create NFTs after February 2, 2024. GameStop's move reflects the ongoing challenges and criticisms surrounding NFTs, despite initial interest from video game companies in the technology.

via Video Games Chronicle|
#businesstech#crypto#gamestop
business2 years ago

Navigating Complexities: Challenges of Chinese Listings Overseas

Chinese companies continue to show strong interest in listing on US stock exchanges, despite the process becoming more complicated. The head of China at the New York Stock Exchange, Kobe Ge, highlighted that Chinese firms are not familiar with the new procedures, which now require a longer preparation period of up to 12 months. The new measures implemented by the China Securities Regulatory Commission include compliance with national security measures and personal data protection laws. Rising political tensions between the US and China have also added to the uncertainty. However, Ge remains optimistic that Chinese listings in overseas markets will rebound as long as domestic firms focus on building strong businesses.

via CNBC|
#business#chinese-companies#chinese-listings
cryptocurrency2 years ago

Franklin Templeton Seeks Approval for Bitcoin ETF

Franklin Templeton has filed with the SEC to launch a spot Bitcoin exchange-traded fund (ETF), joining other financial institutions in seeking approval for similar products. The fund would be structured as a trust, with Coinbase as the BTC custodian and Bank of New York Mellon as the cash custodian and administrator. The SEC's decision on the application is expected by October 16. Franklin Templeton noted the risk of regulatory uncertainty in the digital asset markets, which could potentially harm the value of Bitcoin or the ETF.

via Cointelegraph|
#bitcoin#cryptocurrency#etf
cryptocurrency2 years ago

Bitcoin's Resurgence: Trading Volume Hits New Low as Limbo Continues

Bitcoin showed some signs of life as it rose around 3% to $26,400 before dropping back below $26,000. Coinbase announced plans for international expansion, targeting major financial jurisdictions to acquire licenses and establish regulatory clarity. Investment bank Berenberg stated that MicroStrategy's large bitcoin impairment losses have distorted the company's inherent value, but proposed changes to accounting standards may address this issue.

via CoinDesk|
#bitcoin#coinbase#cryptocurrency
finance2 years ago

"Capital Rules and Regulatory Uncertainty Freeze US Bank Mergers"

U.S. banks are expected to delay mergers until at least the end of next year due to uncertainty surrounding new capital requirements and lengthy regulatory approval processes. The implementation of Basel Committee standards and potential increases in capital requirements have created a "chilling effect" on mergers. Distressed banks may be forced to sell, but the slow pace of deal approvals and political factors have hindered merger discussions. Once capital requirements are clarified, mergers could surge among regional banks close to the $100 billion asset threshold, as they seek to compete with larger institutions under stricter rules.

via Reuters|
#capital-requirements#deal-approvals#finance
finance2 years ago

Temasek Cautious Amid Regulatory Uncertainties, Moderates Investment Pace

Singapore's sovereign wealth fund, Temasek, stated that it is not currently interested in investing in cryptocurrency companies due to the regulatory uncertainties surrounding the sector. The Chief Investment Officer, Rohit Sipahimalani, mentioned that the recent charges against Ripple and Coinbase by the U.S. Securities and Exchange Commission have contributed to the hesitation. Temasek's focus has never been on investing in cryptocurrencies, but rather on investing in exchanges that generate fee-based revenue. Sipahimalani also discussed Temasek's early-stage investment strategy and the importance of diversification in managing risks.

via CNBC|
#crypto#finance#ftx
health2 years ago

Uncertainty Looms Over U.S. Vaccine Program Despite Funding Boost

The $5 billion federal program to expedite the development of more potent and durable Covid-19 vaccines is facing bureaucratic hassles and regulatory uncertainty, which could make it harder to curb the spread of the coronavirus and arm the United States against future pandemics. Vaccine makers are confused by murky regulatory guidance, and the program is facing the reality that vaccine development has returned to its slower and more customary pace. While the Biden administration hopes to roll out new vaccine technology by fall 2024, many scientists believe doses are at least several years away.

via The New York Times|
#covid-19#funding#health
cryptocurrency2 years ago

Regulatory Uncertainty Hinders Blockchain Progress in the US

Bank of America's research report states that digital assets have underperformed the Nasdaq stock index by 24% since May due to regulatory uncertainty caused by the SEC's enforcement actions against Binance and Coinbase. However, the bank believes that the focus on regulatory headwinds is overshadowing the rapid development and integration of blockchain technology infrastructure, which has the potential to transform financial and non-financing infrastructure and markets over the next five to 10 years.

via CoinDesk|
#bank-of-america#blockchain#cryptocurrency
cryptocurrency2 years ago

Binance.US Cancels $1.3B Deal with Voyager Digital, Putting Trillions of SHIB at Risk.

Voyager Digital's lawyers expressed surprise at Binance.US's cancellation of a $1 billion deal to buy its assets, citing an "uncertain regulatory climate" in the US. Voyager filed for bankruptcy in July, and a deal by FTX to buy its assets fell through after FTX also collapsed in November. Voyager's creditors are likely to recover between 40% to 65% of their holdings, depending on the outcome of a parallel lawsuit involving FTX. Voyager intends to give creditors back their holdings in original cryptocurrency, subject to regulatory restrictions and platform functionality.

via CoinDesk|
#bankruptcy#binanceus#cryptocurrency
cryptocurrency2 years ago

Banking Woes Spark Bitcoin Rally and Asset Sell-Off

Bitcoin broke its losing streak and surged above $28,000, up 3.7% over the past 24 hours, while Ether also rallied. The origins of the surge were difficult to pinpoint, but some analysts suggest that the market is anticipating more liquidity injections to prop up the American banking sector, which is still in crisis. Meanwhile, CoinDesk's annual Consensus conference will cover key topics over three days, including the current state of the industry, regulatory uncertainty, and the future of crypto.

via CoinDesk|
#bitcoin#consensus#cryptocurrency
finance2 years ago

Coinbase faces regulatory challenges and seeks solutions.

Coinbase, one of the largest cryptocurrency exchanges, has seen a decline in trading volumes due to regulatory uncertainty in the market. The company's Q2 earnings report showed a drop in trading volume and monthly active users, which analysts attribute to increased regulatory scrutiny and a lack of new cryptocurrency listings. Despite this, Coinbase remains optimistic about the future of cryptocurrency and plans to expand its offerings.

via Financial Times|
#coinbase#cryptocurrency#finance
cryptocurrency2 years ago

Bitcoin's Uncertain Future: Price Struggles and Volatility Signal Potential Bull Run.

Bitcoin's price struggles to hold above $30,000 due to increased regulatory scrutiny, particularly in the US. The CFTC has accused Binance of violating US rules, while the SEC is revisiting the proposed redefinition of an "exchange" and has charged Bittrex for operating an unregistered securities exchange. Meanwhile, Hong Kong's regulatory environment seems to have improved, and Argentina has approved a Bitcoin-based futures index. Options traders are leaning towards bearish structures, and Bitcoin futures metrics remain neutral-to-bearish. Investors fear regulatory action could dim demand for retail and institutional clients, so the odds of Bitcoin breaking above $31,000 remain slim.

via Cointelegraph|
#bitcoin#cftc#cryptocurrency
cryptocurrency2 years ago

Bitcoin Dominates as Altcoins Face Regulatory Uncertainty and Traders Predict Price Levels

Crypto analyst Benjamin Cowen warns that regulatory uncertainty means Bitcoin (BTC) will likely dominate other digital assets, and that the altcoin market does not always follow Bitcoin after rallies. Cowen is also keeping a close watch on the Bitcoin Dominance index (BTC.D), which tracks how much of the total crypto market capitalization belongs to the king crypto. According to Cowen, BTC.D will likely take out its critical resistance area citing uncertainty in the altcoin markets due regulatory pressure.

via The Daily Hodl|
#altcoins#bitcoin#crypto-analyst