According to onchain data, the U.S. Department of Justice (DOJ) has moved 9,825 Bitcoin (BTC) – equivalent to $302 million – to new addresses. This Bitcoin was seized in connection to the shutdown of the darknet marketplace, Silk Road. The OKLink dashboard reveals that the BTC was sent in two transactions, with one still pending
Regulation
U.S. Senator Tommy Tuberville of Alabama and Congressman Blaine Luetkemeyer have taken steps to request an investigation into Prometheum, Inc. by urging Attorney General Merrick Garland and Securities and Exchange Commission (SEC) Chair Gary Gensler to look into allegations of false testimony to Congress and potential violations of U.S. securities laws. In a letter dated
The Federal Reserve recently released detailed minutes from its mid-June meeting, shedding light on its plans to keep interest rates steady and address inflation concerns. The minutes revealed that the Federal Reserve aims to maintain the federal funds rate, also known as the target interest rate, at the current range of 5% to 5.25% in
The Massachusetts Senate has recently announced the consolidation of multiple hearings on blockchain, digital assets, and digital privacy into a single assembly, demonstrating the increasing importance of these topics within the state. The ‘Advanced Information Technology, the Internet, and Cybersecurity Committee’ will conduct a four-hour hearing on July 13 to discuss several significant bills that
Valkyrie Investments has resubmitted its application for a spot-Bitcoin exchange-traded fund (ETF), making amendments to address the concerns raised by the Securities and Exchange Commission (SEC). The recent applications sent back by the SEC have all been amended and refiled, including Valkyrie Investments’ application. As part of the amendments, Valkyrie Investments has declared Coinbase as
Crypto payroll company Bitwage has informed its customers through an email that it will be disabling payments in USD Coin (USDC) for U.S. residents. This decision comes as financial regulators in the United States have ramped up their scrutiny of the cryptocurrency industry, leading to charges against major crypto firms like Binance and Coinbase. Users
Top executives at Ripple, Andrew Whitworth and Susan Friedman, have commended the United Kingdom for its progressive stance on cryptocurrency regulations. They argue that the UK is surpassing the United States in terms of crypto-related policies. This praise comes in response to the Royal approval of the Financial Services and Markets Bill, which officially regulates
Circle, a prominent provider of the USDC stablecoin, seems to have set its sights on the significant portion of trade invoicing in the Asia Pacific (APAC) region that has been conducted in US dollars for the past two decades. According to estimates from the Federal Reserve (FED), around 74% of APAC trade invoicing between 1999
Mastercard’s chief digital officer, Jorn Lambert, believes that blockchain technology has the potential to revolutionize the payments industry. However, he emphasizes the need for “financially-regulated applications” and “central bank-backed money” to achieve mainstream adoption. In an interview with PYMNTS, Lambert expresses confidence in the integration of digital assets and blockchain technology within the Internet of
Erik Voorhees, the founder of Shapeshift and a prominent Bitcoin advocate, believes that decentralized finance (DeFi) has effectively addressed the issue of regulatory clarity that hinders people from possessing or trading a majority of cryptocurrencies. There is growing concern within the crypto industry that all cryptocurrencies, apart from the four listed on the newly launched