Chain News Daily Today TheBitTimes.com

Republic, a private investing platform for alternative assets, has partnered with Mawari, an Extended Reality (XR) and DePIN project, to launch the first node license sale for U.S. participants via Reg D, as per information shared with Finbold on July 22.  The launch operates through Republic’s managed infrastructure platform Republic Runtime, and marks the first node sale on Republic Launchpad through OpenDeal Broker LLC. Mawari operates an Immersive Compute Network that delivers high-quality, real-time 3D content through community-operated machines. The company’s patented 3D streaming engine reduces data usage by up to 80% for complex 3D content delivery.  The company has deployed technology for T-Mobile, Netflix, BMW, and KDDI, and has partnerships with Qualcomm and Niantic. Mawari has raised over $17 million from Web2 and Web3 investors, including Samsung Next. First node license sale for U.S. investors “Republic Launchpad has es...

XRP futures trading is set to expand in the coming weeks as CME Group has just announced their upcoming launch on May 19, 2025, pending regulatory review. The well-known derivatives marketplace revealed plans to introduce both micro-sized (2,500 XRP) and also larger-sized (50,000 XRP) contracts to their growing crypto derivatives suite. This development is actually creating new opportunities for institutional and retail investors alike to engage with futures trading and potentially manage XRP market volatility through regulated instruments. JUST IN: CME Group to launch XRP futures trading on May 19, 2025. — Watcher.Guru (@WatcherGuru) April 24, 2025 Also Read: Coinbase Expands Partnership with PayPal to “Advance Stablecoin Payments” XRP Futures Trading: Impact on Crypto Market Volatility and Regulation Source: CME Group CME Group Expands Crypto Offerings The introduction of XRP futures by CME Group represents an additional expansion of their existing crypto product lineup, which at the...

Crypto.com CEO Kris Marzalek said that the US Securities and Exchange Commission (SEC) has closed its investigation into the crypto exchange without imposing a penalty or taking any legal action. ”They used every tool available to attempt to stifle us, restricting access to banking, auditors, investors, and beyond,” he said in a March 27 X post . “It was a calculated attempt to put an end to the industry.”  Crypto.com Accuses The SEC Of A “Misguided” Approach To Digital Asset Regulation  The SEC’s decision to close its investigation into Crypto.com comes after the agency issued a Wells notice to the company in August that signaled its intention to take legal action against the crypto exchange. Crypto.com responded by filing a lawsuit against the SEC in October. In its filing, the exchange accused the then Gary Gensler-led agency of overstepping its authority and taking a “misguided” approach to crypto regulation. CRO...

With the asset class gaining significant attention over the course of the year, both BRICS and the US could be set to race for Bitcoin supremacy in 2025. Indeed, the economic alliance has discussed its interest in integrating the leading asset. Moreover, with the return of Donald Trump to the White House, the United States is looking to emerge as a global leader. In a recent interview, Eric Trump reiterated these hopes. He explained the path that the US has toward becoming a cryptocurrency superpower. Yet, the incoming presidential administration is certainly not alone in those aspirations. His position regarding BTC has mirrored those that Russian President Vladimir Putin has shared in recent weeks. Source: LA Times Also Read: BRICS to Adopt Bitcoin for Trade Settlements? BRICS & US Face Off in Bitcoin Race: Who Will Become Global Leader? Bitcoin is certainly having its moment this year. The token is leading an emerging asset class, as it reached a six-figure price for the first t...

Blockchain company Consensys has urged careful consideration from the IRS regarding proposed crypto regulations, citing concerns over complexity and potential industry overhaul. In a blog post on Dec. 21, Consensys, a blockchain software developer behind MetaMask and Infura, raised concerns over proposed IRS regulations for digital-asset brokers and emphasizing the need for precision and care in structuring reporting requirements. In response to the proposed rulemaking, the blockchain company emphasized that the final regulations should “reflect the complexities of how digital-asset platforms work” as well as “ensure the continued development of the digital-asset industry.” Consensys pointed out that the proposed regulations — if finalized as is — would impose a “new and complex regulatory scheme on software developers and others in a fast-growing industry with unique technical and operational Features .” “Software developers, from larger...

Galaxy Digital CEO Mike Novogratz believes Binance has satisfied regulators and users after its $4.3 billion settlement with United States authorities. Binance’s $4.3 billion settlement  with the United States Department of Justice (DOJ) is being hailed as a positive move for the company and the wider cryptocurrency industry , according to Galaxy Digital’s Mike Novogratz. In an interview with Bloomberg on Nov. 29, the CEO of the cryptocurrency investment firm expressed his belief that the high-profile settlement should assuage concerned investors and users of the global exchange: “I think they’re de-risked in lots of ways. People were worried about dealing with Binance. There’s a lot less to worry about now.” Novogratz also weighed in on the considerations for major investment firms dealing with exchanges, as well as traditional finance (TradFi) players, with regulatory oversight continuing to take center stage in the United States. Binance didn’t steal money The Galaxy Digital CEO ...

The Securities and Exchange Commission (SEC) has proudly announced that it has had another “highly productive and impactful” year enforcing crypto-related misconduct, highlighting cases like Terraform Labs, Richard Heart, and Sam Bankman-Fried. According to its fiscal year report published on Tuesday, the SEC filed more enforcement actions this year than in 2022, with 784 in total — up 3% from last year. Of these, 501 are stand-alone enforcement actions, marking an 8% increase year-on-year. The commission ordered almost $5 billion in financial remedies in 2023 and distributed nearly $1 billion to harmed investors, the report added. The $5B in remedies obtained this year makes it the second-most lucrative year for the SEC, after the record-breaking numbers of 2022. In 2022, the SEC also distributed over $900 million to harmed investors. This year’s SEC Whistleblower Program awarded a record-breaking $279 million to one person who submitted a useful tip....

Swan co-founder Yan Pritzker said the firm is pro-privacy and doesn’t oppose customers’ use of such services, but to work, it has to follow FinCEN regulations. Bitcoin services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks.  Customers were informed about the policy in a letter suggesting the changes are due to the Financial Crimes Enforcement Network (FinCEN) proposed rule establishing new responsibilities on firms processing transactions from mixing services . On Nov. 12, the co-founder of the firm, Yan Pritzker, took to X (formerly Twitter) to explain that although the firm is not against the use of privacy mixing tools and services, it has to adhere to the obligations of its partner banking institutions. Pritzker said that the proposed FinCEN rule is poorly written and covers a huge amount of Bitcoin-related activities, such as using BTC addresses ...

Furthermore, the act aims to explicitly forbid U.S. government officials from engaging in transactions with iFinex, the parent company of USDT issuer Tether. U.S. Representatives Zach Nunn and Abigail Spanberger have jointly introduced the Creating Legal Accountability for Rogue Innovators and Technology (CLARITY) Act. The legislation aims to prohibit federal government officials from conducting business with Chinese blockchain companies. The Act would ban government employees from using the underlying networks of Chinese blockchain or cryptocurrency trading platforms. Furthermore, it would explicitly forbid U.S. government officials from engaging in transactions with iFinex, the parent company of USDT issuer Tether. In addition to iFinex, the CLARITY Act would prohibit officials from conducting transactions with The Spartan Network, The Conflux Network, and Red Date Technology. In a statement on Wednesday, the lawmakers said that the legislation, if passed, would ensure the natio...

The proposed guidelines are currently in the public consultation phase for the next three months, and if approved, it will come into effect starting in June 2024. The aim of the new liquidity guidelines is to ensure that the stablecoin can be quickly redeemed even during turmoil market conditions to avoid the risk of any bank runs and contagion in a crisis situation. Under the proposed liquidity guidelines, stablecoin issuers must offer any stablecoin backed by a currency that is fully redeemable at par to investors. The official proposal by EBA noted that the stablecoin liquidity guidelines will act as a liquidity stress test for stablecoin issuers. EBA believes the stress test will highlight any shortcomings and lack of liquidity for the stablecoin , which can help EBA to only approve fully backed stablecoin s with enough liquidity buffer. “The liquidity stress testing will help issuers of tokens to better manage their reserve of assets and generally their liquidity risk. Based o...

SEC Commissioner Mark Uyeda calls for the development of clear regulations for crypto currencies, critiquing the SEC’s current enforcement-focused approach as inadequate for legal precedent and market stability. In comments made on Nov. 6, SEC Commissioner Mark Uyeda highlighted a pressing need for the Securities and Exchange Commission to pivot towards proposing definitive rules or guidance for the crypto currency market, rather than relying predominantly on enforcement actions. According to Uyeda, this shift could provide the legal clarity needed for the burgeoning sector. Addressing the issue in London, Uyeda expressed disappointment in the SEC’s reluctance to assist in crafting cryptocurrency regulations, noting that the current enforcement-led strategy is likely to result in protracted legal battles before any clear precedents are established. This method, he argues, could potentially take years as cases slowly ascend through the court system to the appeals level. ...

Turkey sets its sights on implementing cryptocurrency taxation and other regulatory measures as part of its 2024 Presidential Annual Program. Turkey has reignited its focus on crypto currencies and exchanges as part of its 2024 Presidential Annual Program, signaling the possible implementation of taxation and other regulatory measures. Although there were several discussions on crypto regulation in the previous years, no concrete steps had been taken. The government now plans to finalize regulation s within the coming year. A regulatory overhaul from Turkey  According to the Official Gazette, which published Decision Number 7739 approving the “2024 Presidential Annual Program,” the government intends to complete crypto regulation s next year. The document reveals a few key points related to crypto currencies under the “Policies and Measures” section, specifically in line item 400.5 titled “Activities and Projects to be Executed”. This it...

Saulius Galatiltis, CEO of a Binance crypto-to-fiat payment affiliate, has stepped down in an ongoing exodus of executives from the digital asset titan. Galatiltis served as Bifinity’s chief executive from January 2022 to October 2023, per his LinkedIn profile. The Lithuania-based payment processor allowed customers to convert their fiat currencies into crypto tokens on Binance’s exchange, focusing on European users.  This is the latest departure from Binance-related entities as of Oct. 19 following a lawsuit from the U.S. Securities and Exchange Commission (SEC) alleging securities fraud. The suit indicted Binance Global, Binance.US, and CEO Changpeng Zhao. Binance’s Asia-Pacific director, Leon Foong, left the company on Aug. 31, a few weeks after general counsel Hon Ng and chief strategy officer Patrick Hillmann resigned.  Stéphanie Cabossioras, Binance France’s Managing Director, stepped down amid regulatory scrutiny aimed at Zhao’s company across multiple jurisdictions in N...

The lawyer representing Ryder Ripps and Jeremy Cahen struggled to convince a panel of judges that Yuga Labs’ case against his clients should be thrown out under California’s anti-SLAPP statute. Nonfungible token (NFT) artist Ryder Ripps’ most recent attempt to dismiss the Bored Ape Yacht Club-related lawsuit against him appears to have fallen on skeptical ears. In an Oct. 17 hearing, three judges from the United States Court of Appeals for the Ninth District appeared largely unpersuaded by the arguments from the attorney representing Ripps and Jeremy Cahen (known by the pseudonym “Pauly” on X), who argued the case should have been dismissed on the grounds of free speech. Ripps and Cahan’s lawyer, WilmerHale partner Thomas Sprankling, argued the knock-off Bored Ape NFTs were sold and distributed in a way that protested the supposedly anti-semitic imagery hidden within the Yuga Labs-created collection. He repeatedly positioned Ripps and Cahan as selling the NFTs as an avant-garde exerc...

Grayscale’s Bitcoin Trust conversion into an ETF seems imminent as the SEC’s attempt to block fails, paving the way for possible broader Bitcoin spot ETF approvals in the US. The long-awaited conversion of the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin (BTC) exchange-traded fund (ETF) appears close at hand following a failed appeal by the Securities and Exchange Commission (SEC) to block the move. According to an Oct. 16 video by famous cryptocurrency analyst CryptosRUs, the deadline for the SEC to appeal a recent court ruling in favor of Grayscale has passed. The order struck down the SEC’s reasons for previously denying conversion of the Trust into a spot Bitcoin ETF. With no valid objections left after declining to appeal, he suggests Grayscale can now reapply for conversion with high chances of approval. The SEC would have to provide a new rationale to deny the application, which it is unlikely to do after losing in court. You might also like...

The freeze does not affect Binance accounts owned by ordinary Palestinian civilians. Crypto exchange Binance has frozen accounts linked to Hamas militants as per requests from Israeli law enforcement. According to an Oct. 10 WeChat post by Yi He, the exchange’s co-founder, the freeze is targeted toward Hamas and not the people of Palestine. As stated by He: “Hamas is a designated terrorist organization by the United Nations. Therefore, any organization, including banks and trading platforms, will need to cooperate on the receipt of freeze requests. This is not something Binance can decide on its own.“ Yi He further explained that no trading platforms can refuse such requests: “Palestine has an organized government. Hamas is a local militant group. They kill civilians; that’s the problem. Hamas is not Palestine; the freeze is targeted towards Hamas, not Palestine.“ Earlier on Oct. 10, local news outlet Calcalist reported that Israeli officials froze the crypto accounts of Hamas mili...

The new MPI license comes one year after Coinbase’s initial in-principle approval in Singapore, enabling it to expand digital payment token services. The United States-based crypto currency exchange Coinbase is expanding operations in Singapore by securing major regulatory approval from the country’s central bank. Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, the firm announced on Oct. 1. The new license, coming one year after Coinbase’s initial in-principle approval in Singapore, enables the company to expand its digital payment token services to individuals and institutions in the country. According to MAS, MPI-licensed firms are authorized to conduct payment services without being subjected to transaction limits of 3 million Singapore dollars ($2.2 million) for any payment service. The approved companies are also free from the 6 million SGD ($4.4 million) limit of monthly transactions for two or more payment services, oth...

BIS general manager Agustín Carstens stresses the importance of legal frameworks that protect CBDC user privacy and maintain monetary freedom of choice. Legal framework s that ensure that user privacy and the freedom to choose between central bank digital currencies and other forms of money will be key in driving CDBC adoption, according to the head of the Bank of International Settlements. Speaking at the BIS Innovation Hub conference in Switzerland on Sept. 27, BIS general manager Agustín Carstens stressed that legal frameworks remain a key consideration in the development and proliferation of CBDCs around the world: “Most fundamentally, the legitimacy of a CBDC will be derived from the legal authority of the central bank to issue it. That authority needs to be firmly grounded in the law.” He added that different countries' laws specify what types of money their central bank can issue, which typically includes physical cash as well as credit balances on current and reserve ac...

He pointed out that Gensler had requested an urgent appeal while simultaneously asserting that crypto regulations and rules were clear and must be adhered to by the industry. Stuart Alderoty, Ripple's Chief Legal Officer and General Counsel in the SEC v. Ripple Labs case, has characterized the United States Securities and Exchange Commission's (SEC) latest submission as a "contradictory shift" and contends that it holds little sway.  Following the recent filing by the U.S. SEC to reinforce its interlocutory appeal, Stuart Alderoty, Chief Legal Officer at Ripple, commented on X, referring to the submission as another instance of a "hypocritical pivot." Alderoty highlighted what he sees as Chairman Gary Gensler's inconsistency, manipulative actions and appetite for expanded regulation. He pointed out that Gensler had requested an urgent appeal while simultaneously asserting that crypto regulations and rules were clear and must be adhered to by the indus...

The New York South District court revoked former FTX CEO Sam Bankman-Fried’s bail on Aug. 11 after an appeal from the prosecution in July citing multiple instances of violation of bail conditions. The United States Attorney’s Office has filed an affirmation of the denial of bail to former FTX CEO Sam “SBF” Bankman-Fried, claiming that he could attempt witness tampering and stating that no release conditions would assure the safety of the witnesses. Prosecutors responded to several claims made in his appeal against the bail revocation , calling it “meritless.” In their response, the prosecutors argued that SBF was found to have twice committed or attempted witness tampering in violation of the court orders. Thus, in light of his continued evasions of his pre-trial release conditions, Bankman-Fried was unlikely to abide by the conditions of release. The first time SBF attempted to contact witnesses came to light in January earlier this year, when the former FTX CEO initiated contact w...