The Securities and Futures Commission (SFC) of Hong Kong announced it will update its policies on virtual currency sales and requirements “in light of the latest market developments and enquiries from the industry”. In an Oct. 20 notice, the SFC said under the updated guidelines, certain virtual currency products will only be available to professional
Bitcoin (BTC) had a good week with prices rising about 10% to reach the psychologically important level of $30,000. After the rally, the question troubling investors is whether the uptrend will continue or is time for a reversal to happen. Trading team Stockmoney Lizards recently said that Bitcoin may soon break above its overhead resistance
The United States Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, issued an alert for financial institutions as part of efforts to identify “suspicious activity” related to funding terrorist groups. In an Oct. 20 notice, FinCEN said that the militant group Hamas — behind the Oct. 7 attack on Israel — employed “fundraising campaigns involving
In a notable turn of events, Ripple announced that CEO Brad Garlinghouse and Executive Chairman Chris Larsen were cleared of all allegations lodged against them by the US Securities and Exchange Commission (SEC). The SEC has decided to dismiss the charges with prejudice, signaling a significant setback for the government agency. This dismissal marks the
Lawyer and cryptocurrency supporter John Deaton has criticized the Lightning Network, deeming it less effective than the “Spend The Bits” protocol on the XRP Ledger (XRPL). Lightning is a layer-2 scaling solution for Bitcoin. It is designed to improve the scalability and efficiency of Bitcoin (BTC) transactions by enabling off-chain, peer-to-peer transactions. In an Oct.
Cryptocurrency advocacy group DeFi Education Fund (DEF) has urged a United States court to consider the unique aspects of blockchain technology when evaluating the privacy rights of cryptocurrency users under the Fourth Amendment. DEF filed an amicus brief to the U.S. Court of Appeals (First Circuit) on Oct. 20, supporting James Harper’s appeal against the
Security researcher and developer Antoine Riard is stepping down from the Lightning Network’s development, citing security issues and fundamental challenges to the Bitcoin ecosystem. According to a thread on the Linux Foundation’s public mailing list, Riard believes the Bitcoin community faces a “hard dilemma” as a new class of replacement cycling attacks puts Lightning in
Uniswap founder Hayden Adams burned 99% of the HayCoin (HAY) supply on Oct. 20, according to an announcement on X (formerly Twitter). The majority of the tokens have been removed from circulation due to Adams’ concerns about price speculation over the previous days. Adams deployed the HAY token for testing five years ago, before the
Top Stories This Week Grayscale files for new spot Bitcoin ETF on NYSE Arca Major cryptocurrency investment firm Grayscale Investments has filed a new application with the U.S. Securities and Exchange Commission for a new spot Bitcoin exchange-traded fund (ETF). The new filing aligns with Grayscale’s ongoing effort to convert its Grayscale Bitcoin Trust into
In an interesting turn of events, the United States Securities and Exchange Securities (SEC) voluntarily dropped its case against Ripple executives Brad Garlinghouse and Christian Larsen on Thursday, October 19. While this move implies that the trial scheduled for April 2024 will no longer hold, the financial regulator is still pursuing other parts of the
Ethereum (ETH) has so far relatively underperformed in comparison to the flagship cryptocurrency Bitcoin. However, that could change soon enough as a crypto analyst has predicted the second-largest crypto token by market to gain some momentum soon enough. Ethereum To Hit $1900 In a post shared on his X (formerly Twitter) platform, prominent crypto analyst
Greek Prime Minister Kryiakos Mitsotakis announced the establishment of an advisory committee to create a national strategy for artificial intelligence (AI) in Greece on Oct. 19. The Greek government said the “exponential pace” of AI development has created the necessity for an advisory committee under the country’s prime minister. The object of the committee is
Recently, a fraudulent priority withdrawal scam has surfaced, targeting FTX users. Sunil, an advocate for FTX, has utilized the social platform X (formerly known as Twitter) to caution FTX account holders about this phishing scheme and urges them to avoid clicking on any dubious links. Sunil’s message underscores the ever-evolving tactics employed by online scammers
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi was dominated by developments in the popular decentralized exchange platform Uniswap after it announced a 0.15% swap fee starting on Oct. 17,
Crypto-friendly Republican Congressman Tom Emmer is pursuing a nomination to become House speaker, with the 62-year-old receiving endorsement from multiple lawmakers. Congressman Patrick McHenry continues to oversee the position on an interim basis, following a first round of voting on Oct. 17 in which the Republican Party’s nominee for Speaker, Jim Jordan, failed to secure
In a surprising twist, the US Securities and Exchange Commission (SEC) has dismissed its case against Ripple executives Brad Garlinghouse and Chris Larsen. The dismissal agreement, reached by both parties, means that the scheduled trial for April next year will no longer proceed. However, it is important to note that while the charges against Garlinghouse
Bitcoin (BTC) tapped $30,000 into the Oct. 20 Wall Street open as analysts directed attention to the weekly close. BTC/USD 1-hour chart. Source: TradingView BTC price sets up weekly close showdown Data from Cointelegraph Markets Pro and TradingView captured new two-month BTC price highs of $30,233 on Bitstamp. The pair showed continued strength during the
On Oct. 20, the Ethereum layer-2 Base network announced that it’s launching an eight-week training course to turn traditional software developers into blockchain developers. Called “Base Bootcamp,” the new program doesn’t cost anything to attend. However, it’s designed for “mid to senior level Software Engineering individual contributors,” and students must fill out an application and
The Singapore High Court has allowed financial investigation firm Intelligent Sanctuary (iSanctuary) to attach nonfungible tokens (NFTs) containing a legal document to cold wallets associated with a hack, according to United Kingdom-based iSanctuary and local press accounts. A court-issued worldwide freeze order was tokenized as soulbound NFTs and attached to the wallets in question. The
Blockchain company LBRY Inc. — the creators of the LBRY blockchain — has issued its final message to the crypto, citing “several million dollars” of debts that have now made it impossible for the firm to continue. “This will be our last post,” said the LBRY Inc. team in an Oct. 20 statement on Odysee,
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