Bitcoin’s dominance in the cryptocurrency market has increased to almost 50% following the recent altcoin market slump. The Bitcoin Dominance Index (BTC.D), which tracks Bitcoin’s weight against other cryptocurrencies, reached 49.29% on June 13, slightly down from its two-year peak of 49.66% earlier in the week. The surge in Bitcoin’s dominance follows the United States’
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Republican lawmakers on the US House Financial Services Committee have called on the Securities and Exchange Commission (SEC) to withdraw its proposed rulemaking regarding crypto exchanges. The lawmakers have expressed concerns over the proposed amendment that would expand the definition of “exchange” under Rule 3b-16 of the Securities Exchange Act of 1934. They have argued
According to data from CryptoCompare, Bitcoin (BTC) is trading at a premium of over 1% on Binance.US. The exchange’s USD trading volume has dropped to new lows after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance. Despite this, BTC was trading above $26,000 on Binance.US, surpassing the prices of major rivals
Leaders of the crypto and fintech industry groups from Russia and Iran have recently discussed the potential use of tokens to evade sanctions and facilitate trade between the two countries. This conversation took place during a panel discussion on crypto adoption at the International Exhibition of Financial Industries in Tehran. The panel included Iranian government
Jeremy Allaire, the CEO of Circle, has published a blog post on June 12th detailing his prepared remarks for his upcoming testimony before Congress regarding draft stablecoin regulation. Allaire believes that the stablecoin bill is a crucial piece of legislation that should be the first step in creating a regulatory framework that builds the conditions
Brian Armstrong, the CEO of Coinbase, has called for regulatory clarity in the US crypto industry. Speaking to The Wall Street Journal, Armstrong stated that there is an ongoing power struggle between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and Coinbase has been “caught in the middle” of this
Two United States lawmakers, Warren Davidson and Tom Emmer, introduced a new bill on June 12, named “the SEC Stabilization Act,” with the aim of restructuring the United States Securities and Exchange Commission and removing its current chairman, Gary Gensler. The lawmakers stated that the bill would change the current structure of the financial regulator,
The total market capitalization of cryptocurrencies has been in a downward trend for the past eight weeks, reaching its lowest level in over two months at $1.06 trillion. The decline was mainly driven by several altcoins that plunged over 15%, including BNB, Cardano, Solana, Polygon, and Polkadot. This article explores the current market situation and
Binance.US and its CEO Changpeng Zhao have argued against the US Securities and Exchange Commission’s (SEC) temporary restraining order to freeze its assets. The lawyers stated that there was no risk to customer assets and that the SEC’s proposed restraining order should be denied. They argued that the SEC had manufactured an emergency for its
Binance.US has hired four lawyers, including George Canellos, a former co-director of the US Securities and Exchange Commission (SEC) enforcement division, to fight recent charges brought by the regulator. Canellos, who is now a partner at Milbank LLP, has served as a director of the SEC’s New York Regional Office and as acting director and