Bitcoin News and Finance
Warnings of Regulatory Siege Binance US Asset Freeze Averted Schiff Says Fed Destroyed US Banking System and More Week in Review Skip to main content

Warnings of Regulatory Siege Binance US Asset Freeze Averted Schiff Says Fed Destroyed US Banking System and More Week in Review

Red tape and confusion has been the theme in crypto news as of late, with cryptocurrency firms scrambling to stay compliant with regulators like the U.S. Securities and Exchange Commission (SEC), with little to no definite regulatory clarity made available to them thus far. In the wake of lawsuits being launched by the SEC against massive exchanges like Binance and Coinbase, a former SEC official has warned of regulatory “siege” against crypto platforms, a judge has blocked efforts by the regulator to freeze Binance US’ assets, and economist Peter Schiff has said the Fed destroyed the U.S. banking system. This and more, just below, in the Bitcoin.com News Week in Review.

Warnings of Regulatory 'Siege,' Binance US Asset Freeze Averted, Schiff Says Fed Destroyed US Banking System, and More — Week in Review

Founder of SEC Office of Internet Enforcement Warns of Upcoming Regulatory Siege: ‘Get Out of Crypto Platforms Now’

John Reed Stark, founder and former chief of the Office of Internet Enforcement of the U.S. Securities and Exchange Commission (SEC), has warned about a new regulatory “siege” against crypto platforms. Stark believes that “crypto trading platforms are high-risk, perilous, and inherently unsafe” and recommends investors exit all crypto exchanges.

Read More

Warnings of Regulatory 'Siege,' Binance US Asset Freeze Averted, Schiff Says Fed Destroyed US Banking System, and More — Week in Review

Judge Postpones Asset Freeze as Binance US and SEC Agree to Work on Deal

A judge in Washington decided to give Binance US and the Securities and Exchange Commission (SEC) time to work out a deal to avoid the freezing of the exchange’s assets after the SEC sought a temporary restraining order. The two sides have since reached an agreement.

Read More Here and Here.

Warnings of Regulatory 'Siege,' Binance US Asset Freeze Averted, Schiff Says Fed Destroyed US Banking System, and More — Week in Review

Economist Peter Schiff Says the Fed Destroyed US Banking System — ‘It’s Insolvent’

Economist Peter Schiff says the U.S. banking system is insolvent. He stressed that the Federal Reserve destroyed the U.S. banking system, citing near-zero interest rates at banks while “the Fed funds rate is 5.25% and the real inflation rate is much higher.” Schiff previously warned that the U.S. banking system is on the verge of a “much bigger collapse than 2008.”

Read More

Warnings of Regulatory 'Siege,' Binance US Asset Freeze Averted, Schiff Says Fed Destroyed US Banking System, and More — Week in Review

Coinbase CEO Brian Armstrong: The SEC Told Us ‘Everything Other Than Bitcoin Is a Security’

Brian Armstrong, CEO of Coinbase, the largest U.S.-based cryptocurrency exchange, explained how negotiations reached a standstill with the U.S. Securities and Exchange Commission (SEC). In a recent interview with the Wall Street Journal, Armstrong detailed the changes in how the SEC approached securities regulation and how the exchange has tried to work with regulators since day one.

Read More

What are your thoughts on the current legal chaos in the crypto realm? Is this the beginnings of a path to mainstream adoption for bitcoin, or does it fly in the face of the very reason the protocol was invented? Be sure to share your perspective in the comments.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r
Post a Comment
Read more
Blogarama - Blog Directory