Bitcoin

There’s been no shortage of news in past weeks when it comes to the United States Securities and Exchange Commission (SEC) taking action against crypto exchanges and companies. From Kraken, to Paxos, to Terraform Labs, it seems enforcement is in the air when it comes to chair Gary Gensler’s organization. In other news, South Sudan has reportedly banned U.S. dollar transactions, and crypto-focused investment firm Pantera Capital says we’re in the next bull cycle. All this just below in the latest Bitcoin.com News Week in Review.

Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security

Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD.

Read More

[Opinion] Stiffing the Staker: The SEC’s Latest Crackdown on Crypto Innovation

The crypto world was jolted last week when the Securities and Exchange Commission (SEC) shut down Kraken’s staking program, much to the satisfaction of Chairman Gary Gensler and his team. But what does this mean for the future of cryptocurrency and, more specifically, staking?

Read More

Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto Fraud

The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in unregistered transactions.

Read More

Report: South Sudan Government Bans US Dollar Transactions

The government of South Sudan has reportedly prohibited U.S. dollar-based transactions and has directed that all local payments be settled in the local currency. The Salva Kiir Mayardit government reportedly said it also wants all signed commercial contracts to be based on the local currency.

Read More

Pantera Capital on Bitcoin: We’re in Next Bull Market Cycle

Crypto-focused investment firm Pantera Capital says bitcoin has seen its lows and “we’re in the next bull market cycle.” Dan Morehead, the firm’s founder and managing partner, noted: “Over the long-term, bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average.”

Read More

Tags in this story
Bull Market, BUSD, do kwon, gensler, Kraken, Market Cycle, op-ed, Opinion, Pantera Capital, Paxos, SEC, South Sudan, staking, terraform labs, U.S. dollar

What are your thoughts on the SEC’s recent actions? Should cryptocurrencies require the approval of third parties like Gensler’s regulatory body? Let us know in the comments section below.

Bitcoin.com

Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Articles You May Like

Puerto Rico future bond payments could be in danger
Goldman CEO warns against getting overly confident of US ‘soft landing’
The environmental cost of AI
Rival Palestinian factions hold talks in Moscow
‘Stealth’ expats fail to keep HMRC in the loop