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” The European Union is stifling stablecoin adoption “ The digital asset landscape in the European Union is evolving ahead of the passage of the Markets in Crypto-Assets (MiCA) regulation framework that aims to instill regulatory clarity around crypto assets. While well-intentioned, the current structure of MiCA may throttle innovation. But if a revised version of…
” Biden’s anemic crypto framework offered us nothing new “ The long-awaited cryptocurrency regulation framework released by President Joe Biden’s Treasury Department this month attempted to outline a plan for managing the burgeoning crypto industry. Unfortunately, the department’s assessment failed to embody more substance than a mere mission statement. While Biden’s administration appears to be…
” Lawyers for Celsius investors file motion to have interests represented in court “ An international law firm representing groups of Celsius investors has filed a motion to appoint a committee to represent their interests in the crypto lending firm’s bankruptcy case. In a Thursday filing with the U.S. Bankruptcy Court in the Southern District…
” UK gov’t introduces bill aimed at empowering authorities’ to ‘seize, freeze and recover’ crypto “ The government of the United Kingdom has introduced a bill aimed at cracking down on money laundering and fraud, specifically by expanding the authorities’ ability to target cryptocurrencies used for illicit purposes. In a Thursday announcement, the U.K. government…
” Tether says new court order to produce USDT reserve backing is a ‘routine discovery matter’ “ On Wednesday, Tether (USDT), the issuer of the U.S. dollar-pegged USDT stablecoin, said that a recent order by a U.S. judge to provide evidence of USDT backing is part of routine discovery in court cases. The firm said…
” Downfall of Canada’s Lambo driving ‘Crypto King’ reportedly sees $35M in losses “ A self-styled 23-year-old ‘Crypto King’ is facing a raft of demands among 140 of his investors as they try to claw back a collective total of $35 million from his company AP Private Equity Limited. According to a Sept. 20 CBC…
” Draft US stablecoin bill would ban new algo stablecoins for 2 years “ Draft legislation in the United States House of Representatives would place a two-year ban on new algorithmic stablecoins such as TerraClassicUSD (USTC) which de-pegged from the US dollar earlier this year causing widespread crypto market contagion. The bill would criminalize the…
” Terra co-founder Do Kwon says he’s not ‘on the run’ “ Do Kwon, the co-founder of the Terra ecosystem, took to Twitter on Saturday asserting he’s “not ‘on the run’ or anything similar” after the Singapore Police Force (SPF) said Kwon wasn’t in the city-state. On Sept. 14, South Korean authorities issued an arrest…
” Possession of Bitcoin still legal in China despite the ban, lawyer says “ Despite enforcing a major cryptocurrency ban one year ago, the Chinese government still protects local crypto investors as crypto is recognized as virtual property protected by the law. One of the world’s most hostile countries toward Bitcoin (BTC), China has not…
” BitGo sues Galaxy Digital for acquisition breach, seeks $100M in damages “ Digital asset custodian BitGo has filed a lawsuit against Mike Novogratz’s cryptocurrency investment firm Galaxy Digital for terminating the former’s acquisition. BitGo took to Twitter on Tuesday to disclose details of its lawsuit against Galaxy after the latter terminated the $1.2 billion…