Crypto

White House cryptocurrency ‘roadmap’ recommends against pension funds

The White House released a statement on Jan. 27 that provided the United States President Joe Biden administration a roadmap for mitigating risks associated with cryptocurrencies. Much of the document was addressed to the U.S. Congress with the administration’s legislative guidance. The authors of the statement outlined a two-pronged path forward. They wrote: “We have …

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US Lawmaker Outlines Priorities to Regulate Crypto and Make America the Place for Blockchain Innovation – Regulation Bitcoin News

The chairman of a newly formed digital assets committee, U.S. Congressman French Hill, has outlined some priorities to regulate the crypto sector and ensure America is the place for fintech and blockchain innovation. “We want a regulatory framework that’s transparent for developers, investors, and potential consumers,” the lawmaker emphasized. US Lawmaker Shares Priorities on Crypto …

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Silvergate suspends dividends to preserve ‘highly liquid balance sheet’

California-based crypto bank Silvergate has suspended dividend payouts to preserve its “highly liquid balance sheet.” In a Jan. 27 announcement, the firm stated that it is halting “the payment of dividends on its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, in order to preserve capital.” The company outlined that it made the decision …

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TradFi and DeFi come together at Davos 2023: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Traditional finance, or TradFi, continues to explore the world of cryptocurrencies and blockchain technology, with the World Economic Forum holding more workshops and sessions for the sector in 2023. …

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SEC Commissioner Calls for ‘Consistent Legal Framework’ for All Asset Classes, Including Crypto – Regulation Bitcoin News

A commissioner with the U.S. Securities and Exchange Commission (SEC) has called for “a coherent and consistent legal framework that works across all asset classes,” including crypto assets. She warned that the SEC’s current enforcement-centric approach would take 400 years to go through all the crypto tokens that are allegedly securities. SEC’s Commissioner on Crypto …

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New Ripple president says her job is to continue to scale amid crypto winter

Monica Long has been named the new president of Ripple, moving up from general manager. Long joined the company in 2013 as director of communications and expanded her role last year from general manager of RippleX, the blockchain development side of the business, to general manager of the company as a whole, adding RippleNet, the …

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Hackers takeover Azuki’s Twitter account, steal over $750K in less than 30 minutes

Azuki, a popular nonfungible token (NFT) project, had its Twitter account compromised on Jan. 27 leading to hackers stealing over $750,000 worth of USD Coin (USDC) by posting a malicious “wallet drainer link” posed as a virtual land mint. Hackers stole $751,321.80 USDC from a single wallet within half an hour of the malicious links being tweeted, according …

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US SEC Inquires Investment Advisers Over Crypto Custody: Report

The United States Securities and Exchange Commission (SEC) is targeting investment advisors for potentially offering digital asset custody to its clients without meeting proper criteria. Citing three unnamed sources, Reuters reported that the Commission is probing advisers’ efforts to follow the rules around custody of clients’ digital assets after the implosion of FTX. The investigation …

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Goldman Sachs Ranks Bitcoin Best Performing Asset so Far This Year – Markets and Prices Bitcoin News

Goldman Sachs has ranked bitcoin the best-performing asset so far this year. The cryptocurrency also tops the global investment bank’s list as the asset with the highest risk-adjusted return — above gold, real estate, the S&P 500, and the Nasdaq 100. Bitcoin Outshines Other Investments on Goldman’s Chart Global investment bank Goldman Sachs has reportedly …

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California DMV to digitize car title management system via Tezos

The California Department of Motor Vehicles (DMV) is testing out the digitization of car titles and title transfers via a private Tezos blockchain. The move is part of a collaboration between the California DMV, Tezos and blockchain software firm Oxhead Alpha, with the latter announcing t successful proof-of-concept on Jan. 25. The California DMV has …

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Biden Administration Publishes Roadmap to Combat Crypto Fraud and Protect Investors

The Biden Administration announced on January 27th that it will launch a new legal framework for cryptocurrencies in the coming months to combat the multiple cryptocurrency scams that impacted the crypto market last year, causing multi-million dollar losses. According to a statement published by the White House, “2022 was a tough year for cryptocurrencies.” Hence, …

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