#Digital Currency Group

SEC secures green light from US Treasury to regulate stablecoins

The stablecoin industry has been growing at breakneck speed, especially in 2021, and according to new regulatory proposals, the U.S. securities regulator will oversee this growth moving forward. A new report has revealed that U.S. Treasury has yielded to Gary Gensler’s push to have the securities regulator secure oversight over the $130 billion industry.
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America’s Crypto Conundrum

This is the year that digital currencies went mainstream. In the span of just three months last spring, China tested its first-ever digital currency in some of its largest cities, hackers breached a major U.S. oil pipeline and successfully demanded a ransom of more than $4 million in Bitcoin, cryptocurrencies surged to a record combined market capitalization of over $2 trillion, and Jerome Powell, the chair of the U.S. Federal Reserve, warned that cryptocurrencies are “highly volatile” and “may carry potential risks to . . . users and to the broader financial system.”
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A Need for More Regulatory Clarity

For years fintech leaders, investors and technologists in the cryptocurrency space have whined about the lack of regulatory clarity coming from the U.S. Securities and Exchange Commission (SEC). It was only in February 2020, amended in April of this year, that SEC Commissioner Hester M. Peirce proposed her forward-thinking safe...
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Crypto Crackdown: OFAC Sanctions SUEX Cryptocurrency Exchange | Torres Law, PLLC | #cybersecurity | #cyberattack

On September 21, 2021, in a first-of-it-kind action, the U.S. Department of the Treasury Office of Foreign Assets Control (“OFAC”) imposed economic sanctions on SUEX OTC, S.R.O. (“SUEX”), a virtual currency exchange, for facilitating ransom payments pursuant to ransomware cyber-attacks. In its press release announcing the sanctions, OFAC indicated that...

Bitcoin's Rally Brings Back the Satoshis Debate

Bitcoin (BTC) in a price discovery mode has reignited discussions over switching to satoshis (sats), the smallest unit of BTC, as the displaying unit for price quotes. "It is time to start quoting bitcoin/fiat pairs in sats (satoshis) across wallets and exchanges," suggested Digital Currency Group CEO Barry Silbert, asking crypto exchange CEOs what they think.

Arcana Network raises $2.3M Barely 3 Months After Successful Seed Round

Arcana Network announced earlier this month that the company had scored seven-figure funding from several leading investors. The Bengaluru-based blockchain startup confirmed the new development saying that the net yield from the round stood at $2.3 million. Among the investors to have participated in this strategic investment round were Republic...

Making digital currency interoperable, for everyone everywhere

Imagine splitting the check with your friends, when everyone at the table is using a different type of currency — some using a central bank digital currency (or CBDC) like Sweden’s eKrona, and others preferring a private stablecoin like USDC. How about sending $500 in USDC to a friend in London, and having those funds automatically converted to digital British pounds before they arrive in her CBDC wallet. Now imagine all this happening in real-time, across multiple networks, and compatible with multiple digital wallets.

Funds Flowing Into Crypto Space Hits $1.5 Billion Last Week

New money flowing into cryptocurrency space rose to a record-high of $1.47 billion last week, according to a report by CoinShares. The huge capital inflow was after the U.S Securities and Exchange Commission approved Bitcoin ETF investing in futures and the broad-based rally that followed the announcement. Year-to-date, investors have dumped a total of $8 billion into crypto funds.

GBTC delivered better returns than Bitcoin ETFs last week

Bitcoin (BTC) investment vehicle the Grayscale Bitcoin Trust (GBTC) outperformed the newly launched exchange-traded funds (ETF) last week, data shows. Figures shared by Grayscale executives among others confirm that GBTC has quietly delivered better investor returns since Oct. 19. Grayscale “discount” hits one-month lows. While talk continues to revolve around...

$1-Million Calgary Home Purchased Largely with Bitcoin

A Calgary man has become the new owner of a million-dollar home, and he largely paid for his new pad with Bitcoin. Earlier this month, Canadian brokerage Greater Property Group, which specializes in real estate transactions conducted in Bitcoin and Ethereum, closed the deal on the sale of a $1,000,000 listing.

Why Everyone Is Mad at Sam Altman’s Worldcoin

Sam Altman’s Worldcoin project, which promises to distribute a universal basic income (UBI) to global citizens willing to have their retina scanned, came in for a fresh round of incredulous backlash from privacy advocates after announcing new funding last week. Early info about Worldcoin first surfaced in June, and I eviscerated it for the ominous implications of gathering biometric data from the global poor (and the godawful optics of naming the Big Brother device at the center of it all the “Orb”).

Will the Real Worldcoin Crypto Please Stand Up? What to Know if You Are Betting On Eyeball Scans

Worldcoin (CCC:WDC-USD) is catching a lot of undeserved flak on Wednesday thanks to a mixup concerning another crypto operating under the same name. Worldcoin is a crypto that got its start all the way back in 2013. However, some traders are confusing it for Sam Altman’s new Worldcoin. While they share a name, there’s not much else alike about these two projects.

These are the five government decisions lobbyists say could soon shake up the cryptocurrency industry

The social-media frenzy surrounding bitcoin and recent cryptocurrency-focused ransomware attacks has prompted lawmakers and government regulators to seriously consider regulating this emerging market. In response, cryptocurrency advocates and associations have strengthened their political influence efforts by sending more lobbyists to Washington, DC, to persuade lawmakers and regulators on certain proposals.

ECB advisory group for the digital euro excludes US payment firms

Today the European Central Bank ECB announced the 30 people who will serve on its digital euro Markets Advisory Group. When the bank announced the two-year digital euro investigation phase in July, it shared plans for the group. Some notable absentees on the ECB’s central bank digital currency (CBDC) panel...

DCG’s $1B Pledge and an SEC Filing Kindle Fresh Speculation on ‘Grayscale Discount’

Digital Currency Group, a crypto-industry holding company, came out in defense of its subsidiary Grayscale’s Grayscale Bitcoin Trust (GBTC) last week, when the fund’s shares traded on Monday at a 20.53% discount to its underlying bitcoin holdings – the steepest in five months. One perspective is that Digital Currency Group’s...