Grayscale writes a letter to the SEC, accuses the regulator of violating the law

On Monday, Grayscale Investments attorneys issued a letter to the secretary of the US Securities and Exchange Commission (SEC), claiming that the agency is violating the Administrative Protections Act (APA) by discriminating against Bitcoin spot ETFs. In the letter, the crypto asset manager argued that the agency’s approval of Bitcoin futures-based ETFs, but not Bitcoin…

Jesse Powell addresses reasons for Kraken dropping Monero in the U.K

Kraken CEO Jesse Powell took to Reddit this week to discuss the situation surrounding the dropping of Monero in the U.K. He implied it was a decision he didn’t want to take, but with one eye on the “broader business” in the U.K, it was something he was forced to do. “Unfortunately, we have to…

Bank of England chief expresses concern over El Salvador’s Bitcoin experiment

Speaking at the Cambridge University students union on Thursday, Bank of England Chief Andrew Bailey expressed worry for the citizens of El Salvador following the country’s adoption of Bitcoin as legal tender. Bailey said the move to adopt Bitcoin within a dual currency system was concerning, while also adding that volatility would impact most detrimentally….

6 things to do if you encounter a crypto scam or fraud

Crypto scams are becoming increasingly hard to spot. With scammers using glossy websites and spoofed endorsements, even sharp investors can get caught out when trying to invest. Even if you haven’t been a victim, but you know about crime or fraud involving crypto, you should still report it as you could earn you a whistleblower…

Israel authorities amp up regulations for crypto and FinTech

In an announcement made by the Authority of Combating Terror Finance and Money Laundering, a new set of regulations have been imposed in Israel to protect investors’ stake in the crypto market. According to Authority director Schlomit Wegman, the application of the new set of laws will ensure that crypto and fintech industries maintain their…

U.S. senators hurry to retroactively tweak the infrastructure bill concerning crypto

US senators Ron Wyden and Cynthia Lummis rush to tweak the controversial crypto provision, in an effort to narrow some of the new tax reporting rules outlined in the $1,2 trillion infrastructure bill President Joe Biden signed into law on Monday, Bloomberg reported. Hoping to override the provision, which crypto lobbyists argue is overly broad…

Indian unicorn Paytm could soon offer Bitcoin (BTC) payments

In an interview with Bloomberg TV, Paytm’s Chief financial officer, Madhur Deora, has commented on the current cryptocurrency crisis in the country. Deora has stated that if the Indian authorities establish a robust crypto infrastructure in the nation without any regulatory pressure on it then the company might consider launching Bitcoin offerings to boost cryptocurrency…

El Salvador’s Bitcoin wallet Chivo is set to remove its trade profiting feature

Chivo will be removing its scalping feature to curb growing speculative tendencies involving Bitcoin, it said in a tweet last night. “Scalping” would allow users to freeze Bitcoin prices for a minute allowing a small window for the users to compare prices on other exchanges before making a final purchase. Chivo took to Twitter to…

Terra founder Do Kwon files lawsuit against the U.S. SEC

Do Kwon and Terraform Labs (TFL), the South Korean company behind the blockchain project Terra (LUNA), are suing the US Securities and Exchange Commission (SEC), last week’s filing shows. The lawsuit comes in response to subpoenas served to the co-founder and CEO of Terraform Labs on September 20, 2021, while in New York City attending…

Crypto betting app Polymarket reportedly hit by CTFC probe

Crypto-based betting application Polymarket is said to be facing an ongoing probe by the US Commodity Futures Trading Commission (CFTC), the country’s derivatives and futures markets regulator. A Bloomberg report states the CFTC has launched an investigation on the firm for allegedly breaking the regulatory financial laws of the US. Additionally, Polymarket is also under…