Bitcoin News and Finance: What You Need to Know

The governor of France’s central bank, François Villeroy de Galhau, has urged EU regulators to “avoid adopting diverging or contradictory regulations, or regulating too late.” He warned that “To do so would be to create an uneven playing field, risking arbitrage and cherry picking.” French Central Bank Governor Warns About Adopting ‘Unduly Complex’ Crypto Regulations Banque de France Governor François Villeroy de Galhau talked about cryptocurrency regulation at a conference on digital finance in Paris Tuesday. The French central banker stressed: We should be extremely mindful to avoid adopting diverging or contradictory regulations, or regulating too late. To do so would be to create an uneven playing field, risking arbitrage and cherry picking. Villeroy de Galhau added that “unduly complex” crypto regulations could fall short of investor protection and money laundering prevention. The European Commission introduced the Markets in Crypto Assets Regulation (MiCA) bill in Septemb...

Federal Reserve Chairman Jerome Powell says the U.S. central bank is looking at whether to issue a digital dollar with a “very broad scope.” He noted that the Fed is collaborating with Congress and the executive branch on whether to issue a central bank digital currency. Fed Chair Powell on Digital Dollar Progress Federal Reserve Chairman Jerome Powell provided an update of the central bank’s digital dollar work Tuesday during a panel discussion on digital finance hosted by Banque of France. “Cash is not disappearing here in the United States. We still use cash quite a lot,” he began. However, the central banker noted: “It is declining, not in absolute terms but compared to non-cash payments, it’s declining.” Powell explained that the Federal Reserve is looking very closely at “the potential costs and benefits” of issuing a central bank digital currency (CBDC) in the U.S. He detailed: We are looking at it very carefully. We are evaluating both the policy issues and the technolog...

Just over two months or approximately 83 days ago, the stablecoin usd coin (USDC) had a market valuation of around $55.52 billion and since then, USDC’s market capitalization has lost 12.05%. For most of 2022, the second largest stablecoin by market capitalization, USDC has been above the $50 billion mark, but this week the crypto asset’s market valuation is around $​​48.82 billion. Following Tether’s Recent Stablecoin Reduction, USDC’s Market Cap Drops 12% In mid-June, Bitcoin.com News reported on the largest stablecoin asset tether (USDT) , as USDT ’s saw more than $12 billion erased from the market cap in two months and at that same time, usd coin’s (USDC) market cap rose by 9%. However, USDC’s market cap has shrunk a great deal during the last 83 days, as it has dropped by $6.7 billion since July 7, 2022 . At the time of writing, at 4:15 p.m. (ET) on Wednesday afternoon, USDC’s market valuation is $48.82 billion and on July 7, it was much higher at roughly $55.52 billion. US...

PRESS RELEASE. InVar Finance has recently built InVaria2222 , the RWA tokenization world, which is currently in its first stage. InVar intends to create hybrid financial services by bridging the crypto sector with the real economy, such as TradFi with DeFi and RWA tokenization, which pertains to real-world assets. It all began in the RWA tokenization world when InVaria2222 leveraged traditional real estate investment to provide transparency, accessibility with low frictions, and higher composability. What’s there to know? The team cultivates strong relationships with regulators, real estate developers, and critical strategic financial institutions to foster the new paradigm of RWA investment innovation and broader crypto adoption. Regarding the potential of RWA tokenization, the real estate industry alone can generate significant funds flown into the crypto space. Moreover, with a global real estate market worth over a whopping $300 trillion, tokenizing just 1% of the market woul...

The California Department of Financial Protection and Innovation (DFPI) has cracked down on 11 cryptocurrency companies that are accused of violating California securities laws. Nine of the firms reportedly solicited funds from investors in order to trade cryptocurrencies on the customer’s behalf. One of the accused companies pitched an alleged metaverse software development scheme, and another firm claimed to be a “decentralized finance (defi) platform.” 11 Crypto Firms Targeted by California’s Department of Financial Protection and Innovation California’s financial regulator the DFPI has been targeting crypto asset companies and on Tuesday, the financial watchdog launched a “crackdown” against close to a dozen digital currency-centric entities. The DFPI “issued desist and refrain orders against 11 different entities for violations of California securities laws,” the regulator said on September 27. The state’s regulator further noted that the operations are accused of running a pyr...

Crypto exchange Binance is reportedly seeking to reenter the Japanese crypto market. The company exited Japan four years ago after the country’s financial regulator warned that Binance was operating illegally without a license. Binance Wants Back in Japan Crypto exchange Binance is seeking a license to return to the Japanese crypto market, four years after exiting the country, Bloomberg reported Monday, citing people familiar with the matter. The key reasons behind Binance’s renewed interest in Japan are the Japanese government’s easing regulatory approach to crypto and substantial potential for user growth, according to one of the people. A spokesperson for Binance told the publication that the company is “committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and move our industry forward.” However, the spokesperson would not comment on specific license applications, noting that “It would be inappropriate to comment ...