On Wednesday, key executives at six major crypto firms testified before the House Financial Services Committee, saying shoehorning existing rules doesn’t work.Over a near five-hour stint, representatives from Coinbase, Circle, FTX, Bitfury, Paxos, and Stellar fielded questions to educate lawmakers on understanding the intricacies of cryptocurrency, ransomware, investor … [Read more...] about Crypto firms call on U.S Congress to move with the times amid regulatory mismanagement
Regulatory
Regulatory fears put a damper on Ethereum traders’ $5,000 target
This week Ether (ETH) price came within 2% of its all-time high, and on Dec. 2 the altcoin reached its highest price in Bitcoin (BTC) terms since May 2018. Ether hitting 0.0835 in its BTC pair represents a 229% gain for 2021, but Ether bulls might come out empty-handed from this Friday’s $680 million options expiry.ETH/BTC price at FTX. Source: TradingViewNotice the ascending … [Read more...] about Regulatory fears put a damper on Ethereum traders’ $5,000 target
Singaporean crypto exchange enters India amid regulatory uncertainty
Despite India’s unpredictive stance towards crypto regulations, Singaporean crypto exchange Coinstore has allocated a $20 million fund to set up three new offices in the Indian cities of Bangalore, Delhi and Mumbai.Coinstore announced to launch its web and app platform in India for spot and futures trading, opening up a new crypto investment avenue for Indian investors. The … [Read more...] about Singaporean crypto exchange enters India amid regulatory uncertainty
eToro cites regulatory concerns as it plans to delist Cardano and Tron for U.S users
Social trading exchange eToro said it would delist Cardano (ADA) and Tron (TRX) for U.S users. Affected users will not be able to open new positions or receive staking rewards in respect of those tokens.The company said the move was due to “considerations” related to “the evolving regulatory environment.” It made no further comments regarding what this meant exactly.“These … [Read more...] about eToro cites regulatory concerns as it plans to delist Cardano and Tron for U.S users
Binance eyes “sovereign wealth funds” to battle regulatory troubles
The largest cryptocurrency exchange by trading volume, Binance, is planning to get funding from some global sovereign wealth funds for equity financing in its bid to improve its relationships with regulators around the world.Binance seeks funding from sovereign wealth fundsIn an interview with Financial Times, the CEO, Changpeng Zhao, who is currently the largest shareholder of … [Read more...] about Binance eyes “sovereign wealth funds” to battle regulatory troubles