The crypto industry is on the verge of receiving greater clarity regarding regulatory oversight through new legislation set to potentially go to a House floor vote by the end of May. The Financial Innovation and Technology for the 21st Century (FIT21) Act is the proposed legislation aimed at providing transparent regulatory frameworks for digital assets.
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One influential trader, Bluntz Capital, has recently raised concerns about the popular Solana meme coin, DogWifHat ($WIF). Bluntz believes that the current price of $3.17 could potentially see a significant crash, with the token dropping all the way down to $1. Their analysis indicates that the recent price action has been slow, overlapping, and corrective
The recent exclusive report by The Wall Street Journal shed light on some troubling allegations surrounding Binance, the world’s largest crypto exchange. The report revealed that the head of Binance’s market surveillance team was fired after raising concerns about potential market manipulation by a high-profile client. This client, DWF Labs, was said to have engaged
The rise of meme coins in the cryptocurrency market has sparked debates among industry experts, with Chris Dixon from Andreessen Horowitz expressing apprehensions about the regulatory framework in the US. Dixon questions why meme coins, primarily used for humorous purposes and stemming from online communities’ in-jokes, are allowed to flourish while legitimate cryptocurrency companies and
Blockchain analytics company Elliptic recently announced a groundbreaking development in the fight against money laundering in Bitcoin transactions. Through a collaboration with researchers from the MIT-IBM Watson AI Lab, Elliptic has successfully leveraged artificial intelligence to detect illicit proceeds and identify new patterns of money laundering activities. By utilizing a deep learning model, researchers were
House Financial Services Committee Chairman Patrick McHenry has raised serious allegations against SEC Chair Gary Gensler, claiming that he misled Congress during his testimony in April 2023. According to McHenry, recent court documents indicate that Gensler deliberately avoided answering questions about whether the SEC considers Ethereum (ETH) to be a security. These accusations have sparked
The native token for Ethereum Layer 2 scaling solution Optimism (OP) has experienced a 4% decrease in the last 24 hours. The current price of Optimism stands at $2.39, marking a 1% decline in the past hour. Over a seven-day period, the token has dropped by 3.7%, although it remains 7.2% more valuable than it
The cryptocurrency platform Upbit, based in South Korea, has established itself as a dominant player in the country’s trading activity, accounting for over 80% of the market. However, its growing influence has raised concerns, especially as South Korea prepares to implement new legislation aimed at safeguarding investors in the aftermath of the TerraUSD stablecoin collapse
In a bipartisan effort, US Senators Elizabeth Warren and Bill Cassidy have called upon US authorities to take action against the use of cryptocurrency in the illegal trade of child sexual abuse material (CSAM). The pseudonymity of cryptocurrencies has played a significant role in enabling the movement of payments for such illicit activities into the
In response to reports of state actors using Tether’s USDT tokens to bypass US sanctions, the stablecoin issuer has taken a firm stance on regulatory compliance. Tether has vowed to freeze any addresses linked to sanctioned entities, aligning with the Office of Foreign Assets Control (OFAC) SDN list. This proactive approach reflects Tether’s dedication to