Regulators Failed to Address Crypto Collapses, Now They’re Going After ‘On-Ramps’, Says Former Paxos Exec
“Regulators in general failed to adequately address Celsius [Network], Terra and FTX, and are now going after any of the on-ramps they can to try to reduce access to the system,” Campbell, now an adjunct professor at Columbia University's Business School, said on CoinDesk TV’s “First Mover” on Wednesday.
Freeing Trapped Capital to Drive Business Growth
Ripple’s On-Demand Liquidity (ODL) solution helps free trapped capital for SMEs by leveraging crypto-enabled payments for faster, more reliable cross-border capital flows.
Markets: Bitcoin, Ether, Other Major Tokens Rise Despite Hotter-Than-Expected CPI Reading
Bitcoin rose in Wednesday morning trading in Asia to move back above US$22,000 as investors shrugged off a seeming U.S. regulatory crackdown on digital assets and data showing U.S. inflation for January was above forecasts. The world’s leading cryptocurrency led other tokens higher, with Ether and all other top 10 non-stablecoin cryptocurrencies gaining ground. Cardano posted the largest increase. However, most tokens remain underwater when compared to prices seven days ago. The crypto market capitalization rose 3.1% to US$1.03 trillion, with total trading volume up 1.64% to US$58.83 billion. Markets have been rocked the past week after regulatory authorities in the U.S. took aim at crypto-staking services and certain stablecoins. (forkast)
FinTech Law Professor Tells Congress That Crypto Should Be Restricted From Banking System
Lee Reiners, policy director at the Duke Financial Economics Center, recommended that banking agenices restrict the crypto industry from accessing the banking system while testifying to the Senate Banking Committee on Tuesday.
Binance CEO: Crypto Industry Will Probably Move to Non-dollar Stablecoins
The crypto industry will “probably” start using euro, yen, or Singapore dollar based stablecoins in the future, reducing its reliance on US dollar based stablecoins, according to a Feb. 14 statement on Twitter Spaces by Binance CEO Changpeng Zhao, also known as “CZ.”
US SEC to Scrutinize Crypto Firms Operating as Qualified Custodians in New Rule
The United States Securities and Exchange Commission (SEC) plans to propose new rules that would toughen the requirements for cryptocurrency firms to become qualified custodians for institutional fund managers.
Ex-Mitsubishi Electric CEO’s Son Charged With Violent Crypto Theft
The son of the former CEO of Mitsubishi Electric has been arrested in a violent crypto robbery and kidnapping case in Japan – which saw a crypto holder allegedly confined and beaten over period of 20 days.
US Inflation Remains Higher Than Expected, Raising Concerns Among Investors
U.S. inflation levels dropped slightly in January, sliding from 6.5% to 6.4%. However, inflation remains higher than expected, causing concern among investors that the U.S. central bank will continue to hike the benchmark federal funds rate.
Crypto Investor Sentiment Remains Neutral Despite Market Downturn
With the market recovery that was recorded toward the end of January, the crypto market had finally ended its stretched-out negative trend. This recovery brought the Fear & Greed Index back into the neutral territory which indicated a great deal of improvement but not much bullishness at the same time.
US Lawmakers and Experts Debate SEC’s Role in Crypto Regulation
In a Feb. 14 hearing at the Senate Banking Committee titled ‘Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets’, ranking member Tim Scott said Gensler should appear before Congress before September to address additional enforcement actions in the crypto space, calling out the SEC chair for doing “rounds on the morning talk shows” rather than testifying.
