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16.684 Posts
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  1. forum rang 7 HCohen 2 juli 2022 10:02
    US Regulator Charges South African MTI and Its Operator With $1.7 Billion Fraud Involving Bitcoin
    news.bitcoin.com/us-regulator-charges...
    The U.S. Commodity Futures Trading Commission (CFTC) has charged Mirror Trading International (MTI) and its operator with a $1.7 billion fraud involving bitcoin. This action is the regulator’s largest fraud scheme case involving the cryptocurrency.

    CFTC Takes Action Against MTI
    The CFTC announced Thursday that it has charged a “South African pool operator and CEO with $1.7 billion fraud involving bitcoin.” The regulator added:

    This action is CFTC’s largest fraud scheme case involving bitcoin.
  2. forum rang 7 HCohen 2 juli 2022 18:36
    Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy
    PUBLISHED SAT, JUL 2
    www.cnbc.com/2022/07/02/crypto-hedge-...
    Reuters

    Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code.
    Singapore-based 3AC is one of the biggest casualties of the latest so-called “crypto winter” to date. CNBC reported Wednesday that Three Arrows had fallen into liquidation.
    Non U.S.-companies use Chapter 15 to block creditors who want to file lawsuits or tie up assets in the United States.
  3. forum rang 7 HCohen 3 juli 2022 09:29
    EU Makes Deal on MiCA Legislation to Regulate Crypto Markets
    news.bitcoin.com/eu-makes-deal-on-mic...
    Representatives of key European Union (EU) institutions and member states reached an agreement on the Markets in Crypto Assets regulatory proposal. The progress in the negotiations over the comprehensive legal framework for the Union’s crypto space comes after earlier this week European officials agreed to adopt a set of anti-money laundering rules for cryptocurrency transactions.

    EU Parliament, Council, Commission Agree to Tame ‘Wild West’ Crypto Market
    Negotiators representing the major institutional bodies of the European Union agreed to implement the landmark Markets in Crypto Assets (MiCA) legislation across the 27-strong bloc. It will introduce licensing for crypto companies and safeguards for their customers. The agreement follows a consensus on anti-money laundering regulations for cryptocurrencies.

    Behind the deal are the European Parliament, Commission, and Council, the three participants in the EU’s complex legislative process. To become law, MiCA will now need the approval of the Parliament and the governments of individual states. The breakthrough in the trilogue was announced on social media by Stefan Berger, the rapporteur for the package.

    “Europe is the first continent with crypto asset regulation,” Berger exclaimed in a tweet while pointing out that a controversial proposal to ban technologies such as the energy-intensive proof-of-work (PoW) mining is not part of the latest draft. Quoted by Reuters, the German center-right lawmaker who led the negotiations, also stated:

    Today we put order in the Wild West of crypto assets and set clear rules for a harmonized market. The recent fall in the value of digital currencies shows us how highly risky and speculative they are and that it is fundamental to act.

    Crypto markets slumped this year, following last month’s collapse of the terrausd (UST) stablecoin and serious problems at major crypto firms like Celsius Network, 3AC, and Voyager Digital. Bitcoin (BTC), the cryptocurrency with the largest market cap, has lost 70% of its value since its November record-high. It’s trading at a little over $19,000 per coin at the time of writing.

    MiCA to Improve Customer Protection in Europe’s Crypto Space
    The important regulation confirms the European Union’s role as a standard-setter for digital issues, the EU said. MiCA will give crypto issuers and providers of related services a “passport” to serve clients across the Union while obliging them to meet “strong requirements to protect consumers’ wallets and become liable in case they lose investors,” a statement emphasized.

    Furthermore, stablecoin holders will be offered the security of a free of charge claim at any moment, a move that according to some in industry, such as the Blockchain for Europe lobby group, may lead to a situation in which “stablecoins will basically have no ways to be profitable.”

    The agreement excludes non-fungible tokens (NFTs), “except if they fall under existing crypto-asset categories.” Authorities in Brussels will now have 18 months to decide if separate regulations are needed for them.

    National regulators will be responsible for issuing licenses to crypto businesses. At the same time, they will have to regularly inform the European Securities and Markets Authority (ESMA) about the authorization of large operators.

    The latter has been tasked to develop standards for crypto companies to disclose information regarding their environmental and climate footprint, a compromise arrangement allowing the scrapping of the idea to ban the provision of services for PoW coins.
  4. forum rang 7 HCohen 3 juli 2022 09:31
    CRYPTO WORLD
    Major crypto broker Voyager Digital suspends all trading, deposits and withdrawals
    PUBLISHED FRI, JUL 1 2022
    www.cnbc.com/2022/07/01/voyager-digit...
    Digital asset brokerage Voyager Digital is pausing all customer temporarily suspending customer trading, deposits, and withdrawals, according to a statement released Friday afternoon.

    The news comes a few days after one of Voyager’s customers failed to make payments on a loan worth hundreds of millions of dollars, fueling growing concerns of an insolvency contagion effect across the industry.
  5. forum rang 7 HCohen 3 juli 2022 10:17
    quote:

    Knife Catcher schreef op 3 juli 2022 09:58:

    Hoewel dit nieuws al meer dan een dag oud is, krijg je hier toch wel de bibbers van. Als die hele scam in elkaar ploft, dan is de stap naar een crash op de beurs niet denkbeeldig.
    Ben benieuwd hoe jullie dat zien.
    Alle nieuwsflarden bij elkaar bevestigen eerder geuitte vermoeden van een onvolwassen instabiele (deel)sektor en de daarbij gepaarde risico's voor participanten
    Het systeemrisico is nu nog erg klein gelukkig(relatieve grootte vd markt en minimale verwevenheid met de breede economie), vandaar dat er haast geboden is met verdere regulering imho.
  6. forum rang 7 HCohen 3 juli 2022 10:44
    Report: Huobi to Start Layoffs That Could 'Exceed 30%' — Founder May Sell Stake in Company
    news.bitcoin.com/report-huobi-to-star...

    According to the Chinese journalist Colin Wu, otherwise known as “Wu Blockchain,” the cryptocurrency company Huobi may lay off 30% of the firm’s staff due to “a sharp drop in revenue.” Furthermore, the reporter claims that Huobi’s co-founder Leon Li is reportedly looking to sell a large stake in the digital assets company.

    Colin Wu Reports Layoffs Are Coming to Huobi and the Alleged Sale of 50% Stake
    On June 28, 2022, Colin Wu, the local cryptocurrency and blockchain journalist from China, explained that Huobi “will start layoffs, which may exceed 30%.”

    Layoffs have been plaguing the crypto industry as companies like Blockfi, Coinbase, Gemini, Bitso, Buenbit, Rain Financial, Bybit, and 2TM have let employees go. The crypto winter and volatile markets have been the main reason why executives have decided to cut workforce numbers.

    Wu detailed that “the main reason” why Huobi is laying off staff is because of “the sharp drop in revenue after the removal of all Chinese users.” However, there has been no official announcement about such actions stemming from official Huobi sources.

    A company spokesperson did explain to Coindesk reporter Oliver Knight on June 28, that Huobi is in the process of reviewing the firm’s policies. “Due to the current market environment, Huobi Global is in the process of reviewing both its hiring policies and its current manpower, with the goal of re-aligning them to its operational needs. Further to such review, layoffs are a possibility,” the Huobi representative said.

    On July 1, 2022, Colin Wu shared another “exclusive” by revealing that Huobi’s co-founder Leon Li is reportedly attempting to sell some of the company. Wu’s claim is unverified and no official announcement about such actions has come from Huobi.

    “Huobi founder [Leon] Lin is looking to sell his stake in Huobi. Li Lin currently holds more than 50% of the shares,” Wu detailed on Twitter. “The second-largest shareholder of Huobi is Sequoia China. Huobi’s revenue plummeted after it wiped out all Chinese users and is laying off staff.”

    Huobi has seen significant growth during the past 12 months and the exchange is the fifth largest centralized trading platform by trade volume, according to Coingecko statistics.

    Huobi offers 577 different digital currencies and has 1027 trading pairs. During the past 24 hours, the exchange has seen $856 million in global trade volume.

    Huobi Global is the third-largest centralized exchange in terms of assets under management (AUM) with $7.86 billion at the time of writing. Data from Bituniverse, Peckshield, Etherscan, and Chain.info indicates that Huobi holds 160,950 BTC, 2.13 million ether, and $746.3 million worth of USDT.

    At the end of May 2022, Huobi announced that it acquired the Latin American exchange Bitex. Two weeks later, Huobi launched a blockchain and Web3-centric investment arm called Ivy Blocks.
  7. forum rang 7 HCohen 3 juli 2022 20:43
    quote:

    HCohen schreef op 3 juli 2022 09:31:

    CRYPTO WORLD
    Major crypto broker Voyager Digital suspends all trading, deposits and withdrawals
    PUBLISHED FRI, JUL 1 2022
    www.cnbc.com/2022/07/01/voyager-digit...
    Digital asset brokerage Voyager Digital is pausing all customer temporarily suspending customer trading, deposits, and withdrawals, according to a statement released Friday afternoon.

    The news comes a few days after one of Voyager’s customers failed to make payments on a loan worth hundreds of millions of dollars, fueling growing concerns of an insolvency contagion effect across the industry.
    En nog eentje, ja dat gaat lekker

    Exploit Forces Crema Finance to Temporarily Suspend Services, $8.7 Million Stolen
    news.bitcoin.com/exploit-forces-crema...
    According to the decentralized finance (defi) protocol Crema Finance, the application was hacked on July 2, 2022. A Twitter account called “Solanafm” says the defi protocol lost around $8.7 million from the attack.

    Crema Finance Vulnerability Causes Defi App to Lose Millions — 6 Flashloans Executed
    Another defi protocol has lost funds to a hacker as the Solana liquidity application disclosed it was attacked on Saturday, July 2, 2022.

    “Attention,” Crema Finance wrote on Saturday. “Our protocol seems to have just experienced a hacking. We temporarily suspended the program and are investigating it. Updates will be shared here ASAP.”
  8. [verwijderd] 4 juli 2022 09:00
    Zooo ben je even een paar weken op vakantie geweest, is het forum opeens ontploft! Was wel goed voor een uurtje leesplezier en vermaak. Ook nog een draadje erbij gekomen zie ik, speciaal voor cryptonauten. Ik blijf gewoon lekker in die draadje, bevalt me prima.
    Het antibitcoin legertje beleeft weer hoogtijdagen natuurlijk, tja de BTC koers is ook niet florissant dat moeten we toegeven. Maar gezellig hoor dat jullie er weer allemaal zijn! Het is 2018 all over again..
  9. [verwijderd] 4 juli 2022 09:02
    Senator Indira Kempis Proposes Bill to Make Bitcoin Legal Tender in Mexico
    --------------------------------------------------------------------------------------------------------------------------------------
    Indira Kempis, senator of the Mexican Congress, has proposed a bill that would make bitcoin legal tender in the country. The bill bases its action on the hardships that Mexican citizens are facing went trying to access financial products and education. However, the Central Bank of Mexico has been against the introduction of bitcoin into the financial system of the country.

    Bill Proposes to Make Bitcoin Legal Tender in Mexico
    Mexico is another of the countries in Latam that is taking a look at what bitcoin might bring when introduced to its economy. This week, Senator Indira Kempis introduced a bill that would amend the current monetary law of Mexico to introduce bitcoin as legal tender in the country. The bill, which seeks to mimic the action of El Salvador, the first country in the world to adopt bitcoin as legal tender, mentions that this might help to change the financial literacy of many citizens.

    The document puts the basis of its proposal on the fact that Mexico is one of the countries in the continent with less financial inclusion and education. According to the proposal, 56% of the Mexican population still lacks access to a bank account, meaning that more than 67 million people still have no access to the most basic of financial instruments.

    In the same vein, 68% of citizens don’t have access to financial education, which ostensibly renders most Mexicans unable to take educated decisions regarding savings, mortgages, or how to deal with credit.

    Central Bank Digital Currency vs Bitcoin
    However, the bill proposed by Senator Kempis clashes with the course of action that the government and the Central Bank of Mexico have followed. In January, the institution announced that it was working on the creation of a digital peso, its own central bank digital currency (CBDC), and that it was expected to be in circulation by 2024 as a way of aiding Mexicans in their financial inclusion problems.

    Also, the finance minister of Mexico, Arturo Herrera, stated in June that the use of cryptocurrencies was prohibited inside the Mexican financial system, remarking that his prohibition was not likely to change in the short term. This measure was announced after Ricardo Salinas Pliego, one of the richest men in Mexico, reported he was working to make Banco Azteca the first bank to accept bitcoin in the country.
    ----------------------------------------------------------------------------------------------------------------------------------------------
    news.bitcoin.com/senator-indira-kempi...
  10. [verwijderd] 4 juli 2022 09:06
    Microstrategy Buys More Bitcoin After SEC Says BTC Is a Commodity — Company Now Hodls 129,699 Bitcoins
    ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
    Microstrategy has purchased more bitcoin amid a heavy market sell-off. The announcement followed a clarification by the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, stating that bitcoin is a commodity.

    Microstrategy Buys the Dip
    The Nasdaq-listed software company Microstrategy has bought the bitcoin dip again. In a Wednesday filing with the U.S. Securities and Exchange Commission (SEC), the company declared that during the period between May 3 and June 28, it “acquired approximately 480 bitcoins for approximately $10.0 million in cash, at an average price of approximately $20,817 per bitcoin, inclusive of fees and expenses.” The filing adds:

    As of June 28, 2022, Microstrategy, together with its subsidiaries, held an aggregate of approximately 129,699 bitcoins.

    Overall, the company’s BTC “were acquired at an aggregate purchase price of approximately $3.98 billion and an average purchase price of approximately $30,664 per bitcoin, inclusive of fees and expenses,” the filing further details.

    Microstrategy recently dispelled the rumor that it may be facing a margin call on a bitcoin-backed loan from Silvergate Bank.

    Michael Saylor, the CEO of the Nasdaq-listed software company, said in May: “We are in it for the long term … Our strategy is to buy bitcoin and hold the bitcoin, so there’s no price target. I expect we’ll be buying bitcoin at the local top forever.” He added: “I expect bitcoin is going to go into the millions. So, we’re very patient. We think it’s the future of money.”

    Microstrategy’s latest bitcoin purchase announcement followed a statement by SEC Chairman Gary Gensler earlier this week clarifying that bitcoin is a commodity. The company was in the middle of acquiring the latest batch of BTC when Gensler made a comment about BTC being a commodity.

    Saylor tweeted in response to Gensler’s clarification:

    Bitcoin is a commodity, which is essential for any treasury reserve asset.

    He continued: “This allows politicians, agencies, governments, and institutions to support bitcoin as a technology and digital asset to grow the economy and extend property rights and freedom to all.”

    Bitcoin, being a commodity, falls under the purview of the Commodity Futures Trading Commission (CFTC). The chairman of the derivatives watchdog, Rostin Behnam, recently said that bitcoin and ether are commodities.

    The SEC has been seeking to collaborate with the CFTC on crypto regulation. Last week, Gensler proposed having “one rule book” for the regulation of crypto trading. The SEC chairman warned last month that a lot of crypto tokens will fail.
    ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
    news.bitcoin.com/microstrategy-buys-m...
  11. [verwijderd] 4 juli 2022 09:12
    Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad
    -----------------------------------------------------------------------------------------------------------------------------------------------------------
    The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies for payments, even if only internationally.

    Central Bank of Russia to Accept Legalization of Cryptocurrency Mining
    The monetary authority in Moscow is now ready to back the legalization of crypto mining under the condition that Russian miners are obliged to sell the coins they obtain in the process outside the country. That’s according to a recent statement by Kirill Pronin, head of Bank of Russia’s Financial Technologies Department.

    The central bank has been the hardline voice in the ongoing discussions on the future of cryptocurrencies in Russia, proposing a blanket ban on most related activities earlier this year, including mining. However, facing opposition from other government institutions and having to deal with financial restrictions imposed over the war in Ukraine, its position has started to change.

    Governor Elvira Nabiullina indicated last month that crypto payments can be permitted if they don’t “penetrate” the Russian financial system. At the same time, she insisted that digital currencies like bitcoin should not be traded on Russian platforms because these assets are too volatile and risky for potential investors.

    Speaking during the St. Petersburg International Legal Forum this week, Pronin noted that while mining would not fall under the responsibility of the Central Bank of Russia (CBR), it is one of the ways to acquire cryptocurrency, in the form of fees for the validation of crypto transactions performed by miners. “The legalization of mining can be discussed, but a number of conditions, in our opinion, must be met in this regard,” he was quoted as saying by Interfax.

    Ivan Chebeskov, director of the finance ministry’s Financial Policy Department, pointed out that some large crypto mining companies based in the Russian Federation have been also forced to deal with foreign restrictions when withdrawing funds. He suggested that Russia may have to create its own exchange infrastructure to provide liquidity to the industry.

    Kirill Pronin reiterated, however, that according to the CBR, the cryptocurrency minted by the miners in Russia should be sold outside its borders and not allowed to accumulate within the country. The point is to avoid creating incentives for its subsequent use in domestic payments.

    Besides the new bill “On Digital Currency,” expected to comprehensively regulate Russia’s crypto space, a dedicated draft law “On Mining in the Russian Federation” was submitted to the State Duma in April. Members of the lower house of Russian parliament propose to recognize crypto mining as a business activity using Russian information infrastructure and equipment located in the country.
    --------------------------------------------------------------------------------------------------------------------------------------------
    news.bitcoin.com/bank-of-russia-ready...
  12. [verwijderd] 4 juli 2022 09:14
    Indian Central Bank RBI: Cryptocurrencies Are a Clear Danger — Financial Stability Risks Likely to Grow
    ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------
    India’s central bank, the Reserve Bank of India (RBI), sees cryptocurrencies as “a clear danger.” However, the financial stability risks posed by crypto assets currently appear to be “limited.”

    RBI on Crypto’s Danger and Financial Stability Risks
    The Reserve Bank of India (RBI) released the 25th issue of its Financial Stability Report (FSR) Thursday. RBI Governor Shaktikanta Das wrote:

    Cryptocurrencies are a clear danger. Anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name.

    The RBI chief further opined: “While technology has supported the reach of the financial sector and its benefits must be fully harnessed, its potential to disrupt financial stability has to be guarded against.”

    The Indian central bank’s report explores financial stability risks posed by crypto assets, citing various studies, including the work by the Financial Stability Board (FSB). The report states:

    The risks from cryptoassets to financial stability appear to be currently limited as the overall size is small (0.4 per cent of global financial assets).

    In addition, it notes that crypto’s “interconnectedness with the traditional financial system is restricted.”

    Nonetheless, the report adds:

    The associated risks are, however, likely to grow as these assets and the ecosystem supporting their growth are evolving.

    The report also discusses stablecoins and central bank digital currencies (CBDCs). The RBI noted: “The risks from stablecoins that claim to maintain a stable value against existing fiat currencies require close monitoring, in particular.”

    The RBI statement on financial stability and crypto echoes the comments on the subject by Christine Lagarde, the president of the European Central Bank (ECB). “Crypto assets and decentralized finance (defi) have the potential to pose real risks to financial stability,” she said in June. “This would be particularly the case if the rapid growth of crypto-asset markets and services continue … and the interconnectedness with both the traditional financial sector and the broader economy is intensified.”
    ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
    news.bitcoin.com/indian-central-bank-...
  13. forum rang 7 HCohen 4 juli 2022 13:50
    Another crypto lender Vauld pauses withdrawals as market crash takes its toll
    PUBLISHED MON, JUL 4
    www.cnbc.com/2022/07/04/crypto-lender...
    KEY POINTS
    Crypto lender Vauld on Monday paused all withdrawals, trading and deposits on its platform and is exploring potential restructuring options, the company said.
    Vauld said it is facing “financial challenges” due to “volatile market conditions” which has led to customers withdrawing more than $197.7 million from the platform since June 12.
    Vauld is the latest victim of the cryptocurrency price plunge this year that has exposed flaws in a number of digital coin projects and business models.
16.684 Posts
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