The coming of Bitcoin (BTC) and other cryptocurrencies has totally changed the game of payments. More governments and payment service providers have now appreciated the need for digital currencies in the payment sector. Benefits of cryptocurrencies include cheap transaction fees, privacy, fast, transparent and secure money transfers.
Jay Clayton, the Chairman of the US Securities and Exchange Commission (US SEC) resigns from his post in front of New Year. Jay threw in the towel after putting pressure on Ripple Inc. accusing the company of involving itself in the sale of unregistered digital asset securities worth $1.3 billion.
The scuffle between Ripple Labs Inc. and the USA Securities and Exchange Commission (US SEC) is escalating. Cryptocurrency exchanges have begun delisting XRP or paused trading XRP following the US SEC’s court case against Ripple Inc. However, despite this turbulence, Ripple has managed to regain its price level after over 30% drop.
The United States Securities and Exchange Commission (US SEC), an autonomous agency that protects cryptocurrency investors and the national banking and financial system, is going to file a court case against Ripple Inc.
Trading of cryptocurrencies, also referred to as decentralized exchange is on the rise amongst the crypto asset activist who engages in decentralized finance. Decentralized Exchange (DEX), involves the exchange of cryptocurrency in a decentralized model thus allowing crypto assets activists to trade amongst themselves.
The Political Affairs Committee of South Korea’s National Assembly has informed the Financial Services Commission (FSC) on numerous attempts of hackers to break into the country’s financial institutions. Cryptocurrency exchanges became the main target.
While the US Securities and Exchange Commission is known for its cautious stance on cryptocurrencies, it seems things have been changing. The watchdog’s Chairman claimed that they are open to Decentralized innovations.
The International Association for Trusted Blockchain Applications (INATBA) is concerned about the latest Markets in Crypto-assets (MiCA) regulations imposed by the European Commission. The new framework might overburden the industry and therefore slow down its growth.
The European Commission (EC) approved on Thursday September 24, a digital finance package, including a retail payments plan, digital finance strategy and legislative proposals on cryptocurrency and digital resilience, for a booming European Union (EU) financial sector that gives customers access to state-of-the-art financial goods and services.