Tag Archives: crypto

President Biden is expected to issue an executive order next week directing agencies across the government to study cryptocurrencies and a central bank digital currency (CBDC), and come up with a government-wide strategy to regulate digital assets. According to an administration official familiar with the matter, the forthcoming directive will commission a study of a CBDC and ask a range of agencies – including the Departments of Treasury, State, Justice and Homeland Security – to develop… Source link

Valkyrie Investments announced on Tuesday it has crossed $1 billion in assets under management (AUM), partly underscoring the volatile cryptocurrency market’s tentative recovery from a brutal fall-winter slump. To be sure, digital tokens are a long way from the crypto market’s rip-roaring heyday back in the fall, when Bitcoin (BTC-USD) scaled to a fresh record near $69,000, but Valkyrie’s announcement showed how some crypto asset managers are positioning themselves to outlast the whipsaw… Source link

The Securities and Exchange Commission on Monday settled charges with BlockFi Lending over its failure to register its cryptocurrency interest account, bringing the largest ever penalty against a crypto firm. The SEC found BlockFi violated three areas of federal securities laws – including selling unregistered securities, operating as an unregistered investment company and making “material false and misleading statements” on its website that the loans were over collateralized. “This is… Source link

As China’s digital yuan takes the global stage at the winter Olympics, a top cryptocurrency executive believes the U.S. is actually ahead in the worldwide digital currency game. Recently, the Federal Reserve has unveiled its thinking about how a central bank digital coin might operate, without taking any firm stance on the topic. Only 2 countries, Nigeria and the Bahamas, have functional CBDCs, while a few other economies are moving toward pilots this year. However, Circle CEO Jeremy Allaire… Source link

Bitcoin (BTC-USD) in recent days leapt past the symbolic round number of $40,000 and the 50-day moving average of $42,800, as traders hoped for a sustained rebound of the cryptocurrency after a significant sell-off. But the asset is hardly out of the woods, says Vikram Mansharanmani, a lecturer at Harvard University and author of “Think for Yourself: Restoring Common Sense in an Age of Experts and Artificial Intelligence.” Mansharanmani, who recently spoke to Yahoo Finance’s Akiko Fujita for a… Source link

A top Treasury official on Tuesday is expected to make the case to Congress that there are gaps in the framework for stablecoins, should they become widely used by households and businesses. As lawmakers and the White House weigh oversight of the booming cryptocurrency sector, regulators and policymakers need to monitor stablecoins closely, according to Nellie Liang, Undersecretary for Domestic Finance. Liang is testifying before the House Financial Services Committee as the sole witness on… Source link

Securities and Exchange Commissioner Hester Peirce expects an SEC proposal to expand the definition of an exchange as a backdoor way to regulate cryptocurrency exchanges, but does not anticipate the commission will formally introduce direct crypto regulation this year. “The expansive definition that’s being proposed for exchanges will cover a lot of potential platforms that haven’t thought necessarily that they would be covered and that’s in the traditional security space, as well as in the… Source link

When bitcoin and ethereum rallied to records in November on news of wider adoption, politicians and athletes scrambled to ride the momentum by announcing they’d collect parts of their salary in crypto. Among them were New York City Mayor Eric Adams, who vowed after his election that he’d accept his first three paychecks in bitcoin, and wide receiver Odell Beckham Jr., who opted to take his entire NFL salary in the token after signing a new contract with the Los Angeles Rams. But the… Source link

Cryptocurrencies lost momentum on Thursday, tumbling sharply after the outcome of the Federal Reserve’s Wednesday Open Markets Committee meeting gave digital coins a fleeting boost. After briefly appearing to decouple from risk-sensitive stocks, Bitcoin (BTC-USD), Ethereum (ETH-USD) and its crypto cohorts ended Wednesday’s whipsaw session in the red, along with Wall Street. The reversal signaled the correlation with equities was not likely to end anytime soon, especially with the Fed poised… Source link

The new year has been upon us for less than a month, but the Great Crypto Crash of 2022 has already caused a lot of investors pain. The risk aversion dogging Wall Street has infected cryptocurrencies, resulting in a dramatic sell-off in digital coins that yanked Bitcoin (BTC-USD) below $34,000. While the token recouped some of those losses, most analysts think there’s more downside left to probe, especially with crypto’s growing correlation with other risk-on assets. Like stocks, Bitcoin’s… Source link