What does the January 15 deadline hold for Tether, the world’s biggest stablecoin

Tomorrow is an important date for the issuers of Tether, a USD-pegged stablecoin. But what does it mean? Tether, the crypto heartbeat Tether Limited, the company behind the widely-used Tether (USDT) stablecoin, will submit several documents explaining its legality to the New York Prosecutor’s Office tomorrow, Jan. 15, before the deadline expires. It is believed…

Is Gary Gensler’s appointment as head of the U.S. SEC good for Bitcoin?

The incoming chairman is said to hold a favorable view of Bitcoin and other cryptocurrencies. Bad for Wall Street, Good for Bitcoin Gary Gensler will be named chair of the U.S. Securities and Exchange Commission (SEC) by President-elect Joe Biden, as per a Reuters report on Tuesday that cited two sources familiar with the matter….

Here’s why stablecoins like USDC going ‘legal’ is bullish for DeFi

A landmark announcement for USDC. Unending social euphoria. Observers calling it bullish for DeFi. But what’s the whole deal really about The day the US government supported crypto Monday saw one of the biggest ever announcements to be made by the US regulators with regards to cryptocurrencies: That of the country’s banks and financial providers…

Cardano founder says XRP “not a security,” but there’s a catch

The CEO of IOHK said XRP remains clean—as of today in its current form—from the SEC despite troubles mounting for Ripple, its issuing company. XRP’s controversial past In an ask-me-anything session on YouTube last week, Cardano founder Charles Hoskinson spoke about ADA, upcoming Cardano developments, and about the ruckus surrounding the alleged unlicensed securities sale…

XRP falls further 33% as Ripple slammed by US SEC over $1.3b in illegal sales

XRP holders in Asia woke up to a red morning as the US Securities and Exchange Commission officially filed a charge sheet against Ripple, one day after CEO Brad Garlinghouse leaked the news on social media. SEC charges Ripple and two executives with conducting $1.3 billion unregistered securities offering https://t.co/3VP23RpSyV — SEC_News (@SEC_News) December 22, 2020…

Top Silicon Valley VC defends crypto amid proposal of controversial Treasury rule

Yesterday, the U.S. Treasury’s FinCEN branch confirmed that it is working on cracking down on crimes enabled by Bitcoin and other cryptocurrencies. A to-be-published document from the Financial Crimes Enforcement Network indicated that the rule will force virtual asset service providers to verify the name and address of non-custodial wallet users for any transaction exceeding…

Incoming U.S. Senator defends Bitcoin and crypto in conversation with U.S. Treasury

Over the past few weeks, the crypto industry has been ablaze with rumors of impending regulation on self-hosted Bitcoin, Ethereum, and altcoin addresses. The rumors began late last month when Brian Armstrong of Coinbase posted a thread on Twitter warning that the U.S. Treasury is working on a regulation that could make it hard for those…

US regulators say they “don’t want to inhibit” DeFi development

US regulators are scratching their heads with regards to what to make of the multibillion emerging market, but there’s a positive sign for the space. DeFi is rising, the regulators are talking A Monday meeting between members of the Commodity Futures Trading Commission saw discussion of the rise of DeFi applications and use cases as…

US DoJ charges tax evading ICO superstar who spent $10m on private yacht

The founder of a high-flying ICO was charged by authorities in the US yesterday on charges of a massive tax evasion scheme. DoJ charges Oyster Pearl founder Amir Bruno Elmaani, the founder of Oyster Pearl, a storied 2017 ICO that raised millions in token sales before fizzling out like 98% of all the then-hyped coins,…