Earlier this year, crypto lending platform BlockFi started facing the heat from state regulators in New Jersey, Texas, and Alabama. Other states have joined the fold since then, as well. Celsius this week is now facing similar cease and desist demands from all three of the same states that BlockFi first faced. Let’s take a…
The regulatory battle with DeFi is heating up. The SEC now seemingly has it’s eyes set on arguably the largest cryptocurrency exchange in the United States. The news comes after five U.S. states sent individual notices to DeFi platform BlockFi in recent weeks. This week, reports have surfaced that Coinbase is facing regulatory scrutiny over…
There’s seemingly a constant conversation, particularly with those involved in legacy financial institutions, about how cryptocurrency can be – to a certain degree – “de-risked.” Can government mining, or merely taxation structure, address this? While many traditional financial players that are not crypto-first, but are crypto-adjacent (take Visa as a prime example) are relying on…
Several states’ securities regulators have been furrowing their brows with regards to BlockFi Interest Accounts (BIA) lately. This includes BlockFi’s home state of New Jersey, who was arguably one of the more strict in their action towards the firm; New Jersey issued a cease and desist that instructed the firm to stop offering their BIA…
New Jersey, Texas, and Alabama have individual state regulators issuing concerns that New Jersey-based DeFi firm, BlockFi, is offering unregistered securities. Regulators seem to particularly point to BlockFi’s Interest Account (BIA), which offers rates that consumers are now becoming accustomed to in DeFi – but that have blown traditional banking rates out of the water.…
In another win for the adoption of blockchain technology and cryptocurrencies, the Central Bank of Portugal (Banco de Portugal) has officially announced that they will begin approving licenses for crypto exchanges to operate within the country. Two have already been granted. This is the first time that crypto asset exchanges are able to operate within…
Turkey’s fiat currency, the Lira (TRY), is in serious trouble – especially against Bitcoin – with consumer price inflation reaching an alarming 16% in March of this year. In January of 2008, the Lira traded at near-parity with the US Dollar but is currently near its all time low of 8.5 TRY to the USD.…
Ripple CEO Brad Garlinghouse pays tribute to the UK’s Financial Conduct Authority, as well as the Monetary Authority of Singapore. In a tweet, Garlinghouse spoke highly of the way each regulatory authority oversees their respective territories. Going further, Garlinghouse said it’s no wonder that both the UK and Singapore have burgeoning crypto industries. 1/ UK’s…
Crypto startup ChitMonks has raised $650k in a pre-series A round with the help of early-stage investors Unicorn India Ventures (UIV).The firm aims to revolutionize proceedings by bringing 21st-century blockchain technology to the old-fashion chit-fund market.“At ChitMonks, we are building India’s largest blockchain network for Savings and Borrowings. We synergize Chit Fund Companies, Regulators, Subscribers,…
Earlier today, India’s Supreme Court reversed a ban against Bitcoin, Ripple’s XRP, and other cryptocurrencies. While this is a huge development for all digital assets — from the market leaders to the small altcoins that few know of — some are saying this ruling could have an outsized effect on XRP, which has been struggling…