Hackers and fraudsters are attracted to crypto like flies to honey. This makes crypto custody a high-stakes business, as opposed to custodying traditional assets like stocks and bonds, which is considered to be a crucial but fairly straightforward job. The high stakes come with the high risk of safeguarding crypto, …
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In a recent exclusive interview with BeInCryto, Chen shared insights into the challenges facing the crypto wallet industry, noting that most wallets struggle to be profitable. She also revealed her vision for the future of wallets, describing a concept akin to “Amazon Web3,” and predicting that web extension wallets may …
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Announced in a September 13 post on X (formerly Twitter), the $6 million fund is backed by venture capital firm a16z and NFT marketplace OpenSea. Coinbase Creates NFT Legal Defense Fund as SEC Crackdown Intensifies The initiative comes in response to increasing regulatory scrutiny, including a Wells notice issued to …
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The U.S. Securities and Exchange Commission has long been known for going after crypto companies for dealing with “crypto asset securities.” Yet now the agency is claiming — despite the clear use of the term “securities” — that it never meant to imply that any of these tokens are indeed securities. …
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Think stablecoins are just a vehicle for anonymous crypto trading? A new survey from Castle Island Ventures would suggest otherwise. In a report sponsored by Visa, the firm showed that crypto users in five developing countries – Nigeria, India, Indonesia, Turkey, and Brazil – are turning to stables largely as …
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Crypto-related activities such as political donations, crypto betting, PolitiFi tokens, and NFT sales have surged, overshadowing the level of crypto participation seen in earlier elections. Crypto Donations and Betting Soar in 2024 US Elections Breadcrumbs, a blockchain analytics platform, reports that crypto donations to political campaigns have doubled since 2022. …
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Top crypto exchange Kraken has removed the Lightning Network feature for customers in Germany, citing “technical changes.” Earlier on Friday, crypto news publication Protos reported that a support agent at Kraken had attributed the removal to “regulatory issues.” But a spokesperson for the San Francisco-based company told Decrypt that Kraken Support …
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Kraken seeks jury trial to contest SEC’s allegations of operating unregistered securities exchange
by Danny Parkby Danny ParkKraken has again denied the U.S. Securities and Exchange Commission’s allegations and demanded a jury trial to defend its position in the lawsuit, according to a Thursday court filing. In November 2023, The SEC charged Payward Inc. and Payward Ventures Inc., the companies behind Kraken, with operating the digital asset …
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Coinbase CLO Calls Out SEC for Backtracking on Crypto Asset Definition
by Wayne Jonesby Wayne JonesThe U.S. Securities and Exchange Commission (SEC) has seemingly tracked back on previous statements suggesting that crypto assets themselves are securities. This retraction comes amid the agency’s ongoing legal case against Binance, one of the largest cryptocurrency exchanges in the world. SEC “Regrets” Confusion Caused by Wording Attention to the …
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When the NFT marketplace OpenSea signaled that it was braced for a regulatory crackdown last month, the disclosure delivered a jolt to Magic Eden CEO Jack Lu. “It all happened very suddenly,” he said in an interview with Decrypt (video below), adding that the San Francisco-based firm has not received a …