Coinbase Says SEC Is Attempting to ‘Redefine Definition of an Investment Contract’

Coinbase argues in a new filing that the Securities and Exchange Commission is attempting to control all investment activity and define its own regulatory ambit. Coinbase (COIN) has filed a response to the Securities and Exchange (SEC) to get an enforcement action against the exchange dismissed, arguing that the tokens don’t necessarily represent the definition…

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U.S. Senators Unveil PROOF Act: A Bipartisan Push for Cryptocurrency Transparency

In a notable bipartisan move, Senators Thom Tillis and John Hickenlooper have presented the Proving Reserves of Others Funds (PROOF) Act, a legislative endeavor to bolster the security and integrity of the cryptocurrency industry. The bill responds to concerns stemming from incidents like the FTX collapse, aiming to prevent unethical mingling of customer funds and…

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Sen. Elizabeth Warren Demands Swift Action Against Crypto-Financed War by Hamas

A bipartisan group of lawmakers is urgently calling upon the Biden administration to take swift action against the use of Bitcoin and other cryptocurrencies by Hamas and its associated entities. In a letter sent on Tuesday to both the US Treasury Department and the White House, led by Senators Elizabeth Warren, Roger Marshall, and Representative…

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Binance

“Binance Asserts: US Law Doesn’t Govern the World in CFTC Legal Battle”

In a recent legal tussle, Binance, a prominent digital asset exchange, contends that the United States Commodity Futures Trading Commission (CFTC) is endeavoring to apply its regulations on a global scale. The largest cryptocurrency exchange by trading volume argues in a court filing that the US regulator is attempting to oversee foreign companies that haven’t…

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U.S. Government Holds a Massive Bitcoin Reserve Valued at $5.3 Billion

Despite the heightened regulatory scrutiny on the cryptocurrency industry, it appears that the U.S. government has a significant interest in crypto assets. The federal government is in a unique love-hate relationship with cryptocurrencies, as it currently holds more than 200,000 Bitcoins, valued at over $5 billion. This makes the United States arguably the largest holder…

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G20 Urges Speedy and Unified Execution of IMF’s Crypto Roadmap

During their recent meeting, the G20 finance ministers and central bank governors have embraced the roadmap on crypto assets proposed by the International Monetary Fund (IMF) and the Financial Stability Board (FSB). They have called for “swift and coordinated implementation” of this roadmap. The G20 finance ministers and central bank governors gathered in Marrakech, Morocco,…

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Latin America Leads Global Trend in Centralized Exchange Preference, Says Report

As per a report from blockchain analytics company Chainalysis, Latin American cryptocurrency users exhibit a distinct preference for centralized exchanges (CEXs) over decentralized exchanges (DEXs) compared to the global trend. The report, published on October 11, reveals that Latin America boasts the world’s seventh-largest cryptocurrency economy, lagging behind regions such as the Middle East and…

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Russian President Vladimir Putin

Russian President Putin Says US Dollar-Based Global Financial System Is Collapsing

Russian President Vladimir Putin has stated that the U.S. dollar-based global financial system is gradually collapsing. “After all, a currency is a derivative of the power of the economy of the country that issues this currency,” Putin noted, emphasizing: “The share of the American economy in world GDP is declining.” In contrast, the Russian president…

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Jeffrey Sachs, an American economist

American Economist Jeffrey Sachs Heralds End of Dollar Hegemony: ‘Central Bank Digital Currencies Will Become the Basis of Payments’

Share quote to Twitter Jeffrey Sachs, an American economist and best-selling author, has stated that the end of the dollar’s hegemony is near and that central bank digital currencies (CBDCs) will become the basis of cross-border settlements. For Sachs, the abuse of the U.S. dollar as a geopolitical weapon is one of the factors that…

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