The Bank of England reduced interest rates for the third time since August, amid ongoing downturn in the crypto market, where leading cryptocurrencies like Bitcoin have seen significant losses. The Bank announced a 25 basis point rate cut, lowering the base rate from 4.75% to 4.5%, in line with market expectations. The Bank of England …
In a recent development, Deribit crypto exchange has announced its exit from Russia due to sanctions introduced by the European Union, according to the statement posted on its website. As a Dutch-owned platform, Deribit must adhere to EU sanctions. The exchange will no longer accept Russian nationals or residents as clients, unless exceptions apply. ” …
This week, Bitcoin’s price is recovering after it crashed to about $91,000 last weekend. Since Donald Trump won the election, Bitcoin’s price has often dropped below $100,000 and then climbed to new highs. This time, Bitcoin’s on-chain data is showing some unexpected trends, and several metrics indicate that its price might reach a new record …
After former President Trump’s push to make the US a Bitcoin leader, countries like Russia, which once showed little interest in cryptocurrency, are now revising their laws to leverage trillion-dollar industry. At present, Russia is facing US sanctions and its economy is also in bad shape it will be interesting to see if these new …
The cryptocurrency market is thriving, with Bitcoin soaring to new heights and the overall market cap surpassing $3 trillion. However, despite the market’s success, there is ongoing debate about the role of regulation and how it will shape next. Recently, House Financial Services Committee Chairman Rep. French Hill said that excessive regulation has harmed the …
The Cardano price faced a massive pullback in the first few days of the month due to external factors. The token remained under tremendous pressure with the key support levels around $0.7 and as a result, it rebounded without attracting deeper correction. The price has found some stability since the last trading day, which helped …
After the Czech National Bank (CNB) board approved a proposal to analyze the options for investing a portion of its reserves in Bitcoin (BTC), Governor Aleš Michl has attracted mixed responses. With around €7 billion on the line, which is the 5 percent of the CNB’s international reserves likely to be invested in Bitcoin, different …
Russia has introduced new cryptocurrency mining regulations under Federal Law No. 259-FZ, requiring miners to report earnings by the 20th of each month and operate under approved entities. The Federal Tax Service (FNS) allows miners to declare earnings via personal accounts. Digital currencies are classified as property, subject to 13% tax on earnings up to …
In a significant development, the US Federal Deposit Insurance Corporation (FDIC) is reportedly planning to revise its guidelines, allowing banks to engage in crypto activities. FDIC to Revise Crypto Guidelines Marking Huge Shift This development is part of the broader shift in the U.S. under the pro-crypto Trump administration, which aims to overhaul policies toward …
Just ahead of the scheduled congressional hearing on banking practices and financial access, the Federal Deposit Insurance Corporation (FDIC) released 175 documents related to its supervision of banks that engaged in, or sought to engage in, crypto-related activities as per a recent press release. Notably, the documents show regulators resisting, with banks experiencing delays, additional information …
In a latest development, the Senate Banking Committee will hold a hearing today on “debanking,” where experts and business owners will testify about being unfairly denied banking products. Lawmakers Question Banks Over Claims of Service Denials On Wednesday, U.S. banks and regulators will face intense questioning as lawmakers investigate claims from conservatives and businesses that …
Recently, President ordered the creation of a US sovereign wealth fund within a year. The Treasury and Commerce Departments must present a plan in 90 days, detailing how to fund and manage it. Since the US runs on a deficit, Congress would need to approve the fund before it becomes a reality. But here’s one …
The increasing fear that has been driving the US market, since President Donald Trump focused on Tariff trade wars to help deliver on his campaign promises, has trickled down to the crypto market. The Bitcoin’s fear and greed index has dropped from over 70 percent, denoting greed, to around 50 percent, suggesting rising fear of …
The U.S. government is taking a big step toward crypto regulation, with the House and Senate forming a joint group to push new laws. Trump’s crypto czar, David Sacks, made it clear that his goal is to secure America’s dominance in digital assets. Speaking at a press conference, he outlined a strong pro-crypto agenda alongside …
From giving warnings to crypto exchanges to tracking down illegal activities, South Korea’s strict stance on crypto violators is an example for other countries. To create a fair and transparent environment, South Korean authorities are tightening their grip on tax evaders who hide wealth in cryptocurrency. As per the local reports, the Gwanak district in …
The SEC is scaling back its crypto enforcement unit, reassigning 50 lawyers and staff following President Trump’s executive order to ease digital asset regulations. Analyst Eric Balchunas noted the shift, which could affect high-profile cases like the Ripple lawsuit. Acting SEC Chairman Mark Uyeda formed a task force led by Hester Peirce to review digital …
Empower Oversight has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) for the release of a long-awaited report on ethical conflicts and selective enforcement within the agency. The SEC Office of Inspector General (SEC OIG) completed the report more than a year ago, but the SEC has yet to release it or …
As FTX prepares to begin repaying its creditors nearly three years after its dramatic collapse, industry leaders are reflecting on the significant lessons learned. FTX, once a towering presence in the cryptocurrency market, is set to start its first wave of reimbursements on February 18, 2025, focusing on claims under $50,000. This milestone offers some …
David Sacks, the newly appointed Crypto Czar, recently addressed the nation in a press conference, laying out the U.S. government’s strategy to become a global leader in the digital asset space. Clear Regulatory Framework for Digital Assets The primary goal, as outlined by Sacks, is to develop a clear federal regulatory framework for the operation …
In the most exciting week in crypto history with ups and downs, policy changes, and trade war; the U.S. SEC has introduced new rules requiring its staff to seek approval from top officials before launching formal investigations. This shift in procedure comes after a leadership change, with Mark Uyeda stepping in as Acting Chair following …
The US-China trade tension has escalated to a new peak, when Beijing has strongly retaliated against Washington’s decision to impose a 10% tariff on Chinese goods with counter-tariffs on US imports. Notably, even though Bitcoin earlier benefited from US President Donald Trump’s decision to hold the proceedings aimed to impose tariffs on Canada and Mexico, …
The largest federation of unions in the United States, AFL-CIO, has filed a lawsuit against the US Treasury, alleging that the department has illegally shared US citizens’ sensitive data with the Department of Government Efficiency, led by the highly influential American business leader Elon Musk. Prominent US senators, like Ron Wyden, Chuck Schumer and Elizabeth …
The Commodity Futures Trading Commission (CFTC) has launched an investigation into sports-related prediction markets on Crypto.com and Kalshi, focusing on whether these contracts should be classified as “gaming” under the Commodities Exchange Act. This probe, first reported by Bloomberg, could impact how sports betting and event-based contracts are regulated in the future. The Big Question: …
On Monday, February 3, the U.S. Securities and Exchange Commission (SEC) implemented a new policy that could slow down its crypto-related investigations. According to Reuters, sources familiar with the matter revealed that SEC lawyers are now required to get approval from politically appointed leadership before formally initiating probes. This change marks a shift in the …
Donald Trump’s Crypto Czar David Sacks is set to hold a press conference today, February 4th, to discuss America’s position as a global leader in the digital asset ecosystem. Sacks, who serves as the White House’s cryptocurrency advisor, will be joined by prominent figures, including Chairman Tim Scott, Chairman John Boozman, Chairman French Hill, and …
India has had a rocky relationship with cryptocurrency. Since 2013, the country’s central bank, the Reserve Bank of India (RBI), has warned people about the risks of digital assets. In 2018, things got worse when the RBI banned banks from working with crypto businesses, making it almost impossible for exchanges to operate. But in 2020, …
The altcoin market witnessed intense growth in January following Donald Trump’s return to the White House. In January, the Official Trump meme coin gained significant spotlight as it recorded multiple ATHs in a few hours. As a result, January was a rocky month for the market. Several cryptocurrencies reached record highs only to drop significantly …
Last year was a great one for the crypto market, which saw strong price increases, including Bitcoin breaking the $100,000 mark for the first time. With Donald Trump winning the elections and becoming the first U.S. president to be a supporter of cryptocurrency, many crypto-related companies earned significant profits. Among them, Tether, the company behind …
Anthony Georgiades, founder and general partner at Innovating Capital, discussed concerns surrounding Ripple and its native token, XRP, particularly regarding the centralized aspects of the XRP Ledger. In an interview with Yahoo Finance, he explained that XRP operates on a decentralized ledger, but in practice, Ripple Labs holds major control over it. Ripple Labs is …
In a latest development, Kraken, one of the oldest crypto exchanges, has reintroduced blockchain staking products for many U.S. customers, signaling a major shift as the once-stagnant U.S. crypto market heats up. A new staking product is now available for U.S. clients in 37 states and 2 territories, allowing them to securely support networks. The …