CFTC Cracks Down Harder on Cryptocurrency Fraud Under Trump

The Commodity Futures Trading Commission (CFTC) has bolstered its police actions in the last fiscal year, driven largely by cryptocurrency cases, according to The Wall Street Journal. Under President Trump, the federal derivatives market regulator levied about $900 million in civil penalties in 2018 alone, exceeding the annual amount in five of the eight years …

Inside the Wall Street Practice that Could Ruin Bitcoin

Note: This is part 3 in a multi-part article series exploring rehypothecation and commingling in bitcoin and other cryptocurrency markets. Part 1 and part 2 are interviews with Caitlin Long and parts 3 and 4 ask the question, “How did we get to a place that where laws look like this?” In order to understand …

Texas Regulators Shut Down Three Cryptocurrency Scams

The Texas State Securities Board has issued an emergency action to halt the deceitful offerings of investments in three cryptocurrency related schemes. The agency entered a cease and desist order against Coins Miner Investment Ltd, DigitalBank Ltd, as well as Ultimate Assets, who is charged for offering Texans misleading ROIs and promising to grow an …

Did SEC Chairman Jay Clayton Just Throw Shade on Ether?

A new statement issued by Securities and Exchange Commission (SEC) Chairman Jay Clayton has some within the cryptocurrency community questioning whether the agency could change its tune on ether — the native currency of Ethereum — which a top official previously said should not be regulated as a security. SEC Chair: Staff Guidance Non-Binding Clayton, …

Does Bank of America’s Crypto Custody Show Irrelevance of Bitcoin ETF?

This week, $312 billion Bank of America (BoA) filed a patent to offer crypto custody, targeting large-scale institutional investors and retail traders. Some experts have said that the efforts of major financial institutions to create institutional products around cryptocurrencies will bolster the adoption of crypto in US markets, which will naturally lead to other publicly …

How the Effort of Bakkt Could Lead to the Approval of the First Bitcoin ETF

The SEC has disapproved 10 Bitcoin exchange-traded funds (ETFs) in the past month but analysts believe Bakkt can assist the launch of the first bitcoin ETF. Bakkt’s Efforts in Finding Trusted Price Formation Last month, the SEC officially rejected the Winklevoss Bitcoin ETF filed with the Bats BZX Exchange with a 92-paged document which explicitly …

VeChain Loses Grasp on Recent Gains, Falls in Line with Market Trends

VeChain, this week’s standout cryptocurrency, on Wednesday saw a reversal of fortune when its price tumbled 11.06% in a 24-hour period and its market cap fell to $764.218 million, according to CoinMarketCap. The price for the 19th-ranked cryptocurrency dropped from $0.01615 on Aug. 21, a monthly high, to $0.012996 on Aug. 22. Prior to its …

If You’re Selling Bitcoin Because of ETF Delay, You’re Doing it Wrong

CNBC Fast Money contributor and BKCM CEO Brian Kelly has firmly emphasized that while bitcoin has seen a massive decline in price over the last 24 hours, investors selling the dominant cryptocurrency based on the delay of SEC in approving the first bitcoin ETF are doing it wrong. Bitcoin Drops 12% While EOS, Bitcoin Cash …

Mass Adoption Matters More Than Cryptocurrency ETFs

Ethereum co-founder Buterin Vitalik believes that the crypto community has focused too much on ETFs rather than making cryptocurrency easier to use as a method of payment for everyday purchases via payment cards, according to a recent tweet. An ETF will benefit cryptocurrency prices, he believes, but making it easier for people to use it …

Thailand Regulator Publishes ICO Regulations; 7 Cryptocurrencies Approved

Thailand’s Securities and Exchange Commission (SEC), the country’s capital markets authority, has announced a regulatory framework for initial coin offerings (ICOs) which will go into effect on July 16. Under the new guidelines, ICO issuers are mandated to have a company registered in Thailand approved by the SEC with a minimum registered capital of 5 …