Weekly Crypto Market News / 6–12 February
- Kiyosaki promises BTC at $500 000 in 2025.
In his view, a new depression is waiting for the USA because of the billions of fake money from FRS, and when everything crashes, in the trend, there will be gold, silver, and BTC.
Read more: Giant crash coming. Depression possible. Fed forced to print billions in fake money. - SEC to sue Paxos Trust Co and possibly Binance
The Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws, according to people familiar with the matter, the latest move in the agency’s escalating campaign in crypto enforcement.
The notice alleges that Binance USD, a digital asset that Paxos issues and lists, is an unregistered security, according to the people. BUSD is a Binance-branded stablecoin pegged to the dollar on a one-to-one ratio. Binance and Paxos announced the partnership to launch it in 2019. The Paxos-run digital asset exchange, itBit, also lists BUSD. Many other exchanges also list BUSD.
Discover more: Crypto Firm Paxos Faces SEC Lawsuit Over Binance USD Token - Coinbase is ready to sue SEC for crypto staking.
Staking is not a security under the US Securities Act, nor under the Howey test. Trying to superimpose securities law onto a process like staking doesn’t help consumers at all and instead imposes unnecessarily aggressive mandates that will prevent US consumers from accessing basic crypto services and push users to offshore, unregulated platforms.
As more of the crypto ecosystem adopts proof of stake over the more energy-intensive proof of work protocol, crypto users around the world are being introduced to the benefits of “staking.” This shift has come with debates over what moving to proof of stake means at the regulatory level. Given the importance of this technology, getting regulation wrong could do serious harm to the development of the crypto industry in the US. So I wanted to set the record straight and lay out the basics.
Discover more: Coinbase’s staking services are not securities. And here’s why - Crypto lending Nexo decided to close Earn accounts for Americans
Read more: Update for US Clients - Kraken has agreed to shut its cryptocurrency-staking operations to settle charges with the U.S. Securities and Exchange Commission (SEC), according to an industry source briefed on the matter.
Read more: Kraken Agreed to Shutter US Crypto-Staking Operations to Settle SEC Charges - Binance stopped withdrawing in USD until finding a new bank-partner
Read more: From February 8th, we will temporarily suspend all USD bank transfers - Dubai is implementing a ban on anonymous cryptocurrencies and their mining
According to the latest rules issued by the Dubai Virtual Assets Regulatory Authority (VARA), privacy tokens such as ZEC and XMR are not allowed in Dubai, nor can local entities create such tokens.
Read more: Virtual Assets and Related Activities - Tether has reported a net profit of $700 million in the fourth quarter of 2022 and confirmed USDT secured at 100 percent
Read more: Tether Continues To Demonstrate Strength Of Reserves, Reveals $700m Profits For Q4/2022 In Latest Attestation Report
Wow!
Mmm
Hmm
Meh
Pff
