Uncategorized Archives - Page 4 of 130

FridayFeb 07, 2025 10:00 am

MAGA Supporters Grumble Against Trump’s Meme Coin

Just days before he was set to take office as the next U.S. president, Donald Trump made a surprising announcement: he was launching a meme coin named after himself. His wife, Melania Trump, soon followed suit with her version. The move caught many in the cryptocurrency industry off guard, leading to immediate criticism. Ethics specialists also raised concerns about the implications of such a venture. While Trump’s core supporters did not react with the same level of outcry, there was still notable discontent. Some within the MAGA movement, particularly those who are also involved in the crypto space, felt uneasy…

ThursdayFeb 06, 2025 10:00 am

Kraken Obtains European MiFID License to Deal in Crypto Derivatives

Kraken has expanded its market share in Europe by obtaining a license under the EU’s MiFID. The announcement, made via the company’s blog on February 3, follows Kraken’s recent acquisition of a Cyprus-based investment firm that had secured authorization from the Cyprus SEC. The regulatory approval enables the exchange to offer fully compliant crypto derivatives to experienced investors in select European regions. Kraken’s Pro and Exchange division’s co-general manager, Shannon Kurtas, highlighted the exchange’s commitment to growing its services internationally, with Europe continuing to be a key focus. She underlined Kraken’s dedication to establishing a safe and regulated trading environment…

TuesdayFeb 04, 2025 10:00 am

French Investigators Start Probing Binance for Alleged Fraud

French officials have started a formal judicial investigation into Binance over tax fraud, money laundering, and other financial offenses allegations. The Paris prosecutor’s office, specifically its financial and economic crimes division (JUNALCO), revealed that the inquiry includes suspected money laundering linked to drug trafficking. The investigators are scrutinizing transactions and operations between 2019 and 2024 not only in France but across the European Union. Responding to the probe, a Binance spokesperson issued a statement via email rejecting all claims and emphasizing that the case dates back several years. This investigation comes in the wake of significant legal troubles for Binance…

FridayJan 31, 2025 10:00 am

SEC Revokes Divisive Rule That Kept Major Banks Away from Crypto

After persistent efforts by the cryptocurrency sector, the SEC has officially revoked an accounting directive that had previously required banks to show digital assets as liabilities on their financial statements. The directive had been a significant obstacle for major Wall Street financial institutions considering crypto investments. The repeal aligns with a series of policy changes introduced under the Trump administration, aimed at making it easier for financial companies in the U.S. to engage with decentralized digital currencies. The directive—SAB 121—was established in 2022 and placed stringent capital requirements on crypto assets. These regulations heightened both financial and compliance burdens associated…

ThursdayJan 30, 2025 10:00 am

Why the SEC’s Partial Win Against Kraken is Causing a Stir in the Crypto Industry

The U.S. Securities and Exchange Commission (SEC) has won a partial victory in its lawsuit against Kraken. While California federal judge William Orrick dismissed some of Kraken’s primary arguments, the ruling has sparked discussions about its potential impact on other crypto exchanges facing similar legal scrutiny. One of Kraken’s central arguments relied on the “key questions doctrine,” which holds that federal agencies like the SEC shouldn’t assume authority over significant matters unless specifically authorized by Congress. Kraken argued that the SEC lacked the legal grounds to regulate the cryptocurrency market in the way it had. However, the judge rejected this…

TuesdayJan 28, 2025 10:00 am

Morgan Stanley Pledges to Work with Regulators on Safe Cryptocurrency Solutions

Ted Pick, the CEO of Morgan Stanley, said on Thursday during the World Economic Forum held in Davos, Switzerland, that the bank is gearing up to work with U.S. regulators to investigate prospects in the crypto space. Addressing the challenges faced by traditional financial institutions in the rapidly evolving crypto space, Pick remarked, “For us, the question is whether a financial institution with as much regulation as ours can effectively operate in this area.” Pick stressed the significance of following regulations as the bank evaluates its strategy for the nascent cryptocurrency sector. Pick elaborated on Morgan Stanley’s strategy, emphasizing the…

FridayJan 24, 2025 10:00 am

Trump Intends to Use First Days in Office to Issue Pro-Crypto Orders

President Donald Trump plans to leverage his executive authority to ease the regulatory challenges faced by crypto businesses and encourage wider adoption of digital assets during his first days of administration, according to three sources familiar with the matter. Trump, who garnered support from cryptocurrency enthusiasts during his campaign by pledging to be a “crypto-friendly president,” is anticipated to sign an executive order to establish a cryptocurrency advisory council, according to two of the three sources, who requested anonymity. Last Thursday, Bloomberg News reported that Trump intends to create a cryptocurrency council through an executive order. The council, which could…

ThursdayJan 23, 2025 10:00 am

Experts Concerned About Conflicts of Interest as Melania Trump Unveils Meme Coin

Melania Trump has launched her own meme coin, mirroring her husband Donald Trump’s actions. This move has sparked discussions about potential conflicts of interest, especially as the incoming administration prepares to relax regulations surrounding digital assets. Trump’s decision to unveil a digital token, $Trump, just before his inauguration raised concerns among ethics experts. The value of $Trump skyrocketed, tripling to over $70 shortly after its launch, giving it a market capitalization of more than $14 billion. However, Melania’s competing token, $Melania, soon diverted some investor attention, affecting $Trump’s gains. Cryptos have rallied since Trump’s election win, reflecting his pro-deregulation stance.…

FridayJan 17, 2025 8:00 am

Bitcoin ATMs Increase in Number as Crypto Surges

Bitcoin (BTC) ATMs are becoming increasingly common globally—rising by 6 percent in 2024. This growth highlights the growing acceptance of crypto in mainstream finance. The machines simplify the process of buying and selling digital currencies, making crypto more accessible for everyday use. The world’s first BTC ATM was introduced in 2013 in Canada. Since then, the number of these ATMs has soared to more than 37,500 across 70+ nations. According to Finbold, 2024 saw notable growth, with a 6 percent rise in the total number of BTC ATMs. The United States continues to dominate the market, accounting for over 81%…

ThursdayJan 16, 2025 8:00 am

NYDIG Warns That Trump’s Promises to the Crypto Industry Could Take Time to Implement

Donald Trump’s upcoming inauguration marks the beginning of his presidency, and with it, he has pledged significant changes to cryptocurrency regulations. However, the New York Digital Investment Group (NYDIG) suggests that such reforms might not happen immediately. Greg Cipolaro, NYDIG’s head of research, expressed caution in a recent research note, indicating that crypto policy updates are unlikely to occur right after Trump assumes office on January 20. Cipolaro pointed out that while the transition to the new administration brings hope for action on campaign promises, some measures may require more time to implement. He noted that critical roles still need…