The Dept. of Commerce has 17 questions to help develop a crypto framework

The US Department of Commerce is calling for submissions on how it can establish a framework that will bolster American economic competitiveness in digital assets including crypto and stablecoins. The Department of Commerce (DoC) intends on publishing a series of 17 questions in a request for comment through the International Trade Administration. The request will be published in the Federal Register on May 19. The questions pertain to the DoC’s efforts to develop a framework for challenges to the growth of American economics regarding digital assets, as requested by President…

Bitcoin Trims Gains, Why BTC Could Start Fresh Decline

Bitcoin extended decline and traded below $29,000 against the US Dollar. BTC must stay above the $28,500 level to avoid a sharp decline in the near term. Bitcoin started a fresh decline from the $30,500 resistance zone. The price is now trading below the $30,000 level and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support near $29,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend decline if there is a clear move…

Long Live Crypto. By Kate Rouch, Chief Marketing Officer | by Coinbase | May, 2022

By Kate Rouch, Chief Marketing Officer This week Coinbase celebrated a milestone of 10 years in business by doing what we do best — building! Just this week: Coinbase unveiled our web3 mobile dapp and DeFi wallet and browser, announced our Primer Commerce integration and introduced Coinbase Institute. CMO Kate Rouch explains how Coinbase used this milestone moment to shine a light on all those who remain focused on building the future. COINBASE: The crypto market has taken a downturn. How is your team thinking about this? Volatility is painful,…

‘Grim Reapers’ financial crimes unit revived to investigate Terra collapse

Legal troubles are mounting for the co-founder of failed Terra crypto project Do Kwon as the South Korean government revives the dormant “Grim Reapers of Yeoui-do” to investigate Terra’s fall. The special investigative and prosecutorial team consists of members from various financial regulators, and is designed to prosecute securities fraud and unfair trading schemes. Potentially at risk are co-founders Do Kwon and Shin Hyun-seong, along with core members of the Terra team. Yeoui-do is the financial center of Seoul. Today: Korea’s “Grim Reapers of Yeouido” – Financial and Securities Crime…

US Appeals Court Orders SEC to Bring Enforcement Actions to Jury Trials

The SEC alleged in 2013 that George Jarkesy Jr. and his firm, Patriot28 LLC, violated federal securities law by misstating his hedge funds’ assets. The case was tried before an administrative law judge, rather than before a civil court. These administrative law judges, or in-house judges, may have violated Jarkesy’s seventh amendment rights to a jury trial, the 5th Circuit Court of Appeals said in its ruling Wednesday. Author: Nikhilesh De Source link

Finder’s Panel Predicts Death of Shiba Inu Crypto — SHIB Expected to Have No Value by 2030 – Bitcoin News

A panel of specialists at Finder has predicted the death of shiba inu (SHIB) cryptocurrency. The majority believes that the price of the meme crypto will eventually fall to zero. In addition, “Our panel is overwhelmingly out on SHIB, with 73% saying that now is the time to sell.” SHIB’s Price Prediction Leading price comparison portal Finder.com updated its price prediction for the shiba inu cryptocurrency last week. “Finder surveyed a panel of 36 fintech specialists in April for their thoughts on how shiba inu will perform over the next…

SEC chair uses crypto enforcement in justification for FY2023 budget

Gary Gensler, chair of the United States Securities and Exchange Commission, or SEC, has cited concerns about cryptocurrency enforcement in its budget request for the next fiscal year. In written testimony for a Wednesday hearing of the U.S. House Committee on Appropriations, Gensler said he supported President Joe Biden’s request to budget more than $2.1 billion for the SEC in FY2023, allowing the regulatory body to increase its enforcement division by 50 people. The SEC chair cited concerns about the crypto space, referring to markets as “highly volatile and speculative”…

Web3.0 Wallet BitKeep Completes Series A Funding With Over $15 Million Raised

Bloomberg News – BitKeep, a Singapore-based Web3.0 cross-chain wallet, announced on May 18 that the company hit a $100 million valuation after the completion of a $15 million Series A funding. Bitkeep wallet has risen to be the leader of Asia-based blockchain wallets in terms of user base, revenue, and valuation.  Mia from Dragonfly Capital, the lead investor in this round, said: “BitKeep has survived for a complete cycle in the blockchain industry and prospered. The team behind it gained a deep understanding of crypto wallets through continuous iteration of…

Bitcoin and Stocks Dip as Volatility Spikes

The stock market declines came after retail and tech stocks underperformed on Wednesday. Also, the Chicago Board Options Exchange’s CBOE Volatility Index (VIX), a popular measure of the stock market’s expectation of volatility based on S&P 500 index options, ticked higher on Wednesday, reversing a week-long downtrend. Author: Damanick Dantes Source link