The Hong Kong Securities and Futures Commission (SFC) recently issued a warning to virtual asset trading platforms (VATPs) regarding their practices. The SFC emphasized the potential legal and regulatory consequences faced by these platforms. This warning comes as a response to the SFC’s observations of unlicensed VATPs engaging in non-compliant activities, such as falsely claiming
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In a recent ruling by the Changzhou Zhonglou People’s Court in China, it was determined that a Bitcoin loan of 341 Bitcoins (equivalent to $9.9 million) is not protected by law. The lender, Mr. Xu, had lent the Bitcoins to Mr. Lin in a peer-to-peer loan, but when Mr. Lin defaulted on the loan, Mr.
Web3 represents a new era of decentralized internet technology, where individuals have ownership and control over their data. However, the fragmented nature of Web3 can be confusing for new users, as multiple platforms need to be navigated. Launchpad XYZ aims to address this issue by providing a unified platform to simplify the Web3 experience. The
Financial privacy and anonymity have long been cherished principles within the blockchain community. From the beginning of Bitcoin, these ideals were central to the vision outlined in Satoshi Nakamoto’s white paper. However, recent actions from regulators have posed significant challenges to the preservation of these principles. Understanding the motives behind regulatory actions is essential in
The crypto exchange industry has been marred by controversies and scandals, and FTX is no exception. Ryan Salame, the former co-CEO of FTX DM, the Bahamas subsidiary of FTX, is reportedly in negotiations with federal prosecutors to plead guilty to criminal charges. These charges are related to the collapse of the crypto exchange, and their
Compound (COMP), one of the key players in the decentralized finance (DeFi) sector, has recently experienced a significant setback. The token has witnessed a 20% decline in its price over the past week, indicating ongoing bearish movement. This article explores the challenges faced by Compound amid recent market conditions and provides insights for potential investors.
The performance of crypto hedge funds in the first half of 2023 has been disappointing, as they have significantly underperformed Bitcoin. Furthermore, around 13% of these funds have already closed their operations this year. This article will delve into the reasons behind this underperformance and shed light on the challenges faced by these funds. According
In a significant legal victory for Tether and Bitfinex, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District of New York dismissed a class action lawsuit brought against the stablecoin issuer. The lawsuit, filed by Matthew Anderson and Shawn Dolifka in 2021, alleged that Tether’s claims of its stablecoin, USDT,
Cryptocurrency regulation in the United States has been an ever-evolving landscape, and financial technology company Revolut has recently made an announcement that it will be “suspending” its crypto services in the US. This decision comes as a result of the uncertainties surrounding the regulatory environment and the crypto market in the US. Starting on September
In recent weeks, XRP has experienced significant selling pressure as some of the largest holders of the cryptocurrency, known as whales, have dumped over 100 million tokens. This substantial sell-off has raised concerns about the overall market sentiment and has had a notable impact on the price of XRP. Understanding the Effect of Whale Activity