Bybit bags provisional crypto license from Dubai regulator
The Virtual Asset Regulatory Authority (VARA) has granted Bybit a non-operational license to serve retail and institutional crypto investors in Dubai.
The Virtual Asset Regulatory Authority (VARA) has granted Bybit a non-operational license to serve retail and institutional crypto investors in Dubai.
Seven Democratic US Senators have sent letters to ten of the country’s biggest Bitcoin ATM operators urging them to address fraud against elderly Americans.
The US commodities regulator says prediction markets can be vulnerable to “spectacular manipulation.”
According to PANews, earlier this week, the U.S. Consumer Price Index (CPI) report led the market to believe that the Federal Reserve would slightly cut interest rates by 25 basis points this month. However, the situation took a sharp turn on Thursday. Former New York Federal Reserve President Dudley suggested that the Fed has reasons to cut rates by 50 basis points next week. Reports from the Wall Street Journal and the Financial Times also indicated that the Fed is facing a tough decision between a 50 basis point cut and a 25 basis point cut. Consequently, market bets on a significant rate cut next week have risen to a 50-50 probability. Next week will see several key events:On Monday at 20:30 UTC+8, the U.S. September New York Federal Reserve Manufacturing Index will be released. On Tuesday at 20:30 UTC+8, the U.S. August Retail Sales Monthly Rate will be announced. On Wednesday at 14:00 UTC+8, the U.K. August CPI Monthly Rate and the U.K. August Retail Price Index Monthly Rate will be published. On Thursday at 2:00 UTC+8, the Federal Reserve will announce its interest rate decision and economic projections. Following that, at 2:30 UTC+8, Federal Reserve Chairman Powell will hold a monetary policy press conference. Later on Thursday at 20:30 UTC+8, the U.S. Initial Jobless Claims for the week ending September 14 and the U.S. September Philadelphia Federal Reserve Manufacturing Index will be released. On Friday at 11:00 UTC+8, the Bank of Japan will announce its interest rate decision, and at 14:30 UTC+8, Bank of Japan Governor Kazuo Ueda will hold a monetary policy press conference.
Stablecoin issuer Circle expects internet payment firms and other financial services companies will attempt to enter or expand in the space.
According to Cointelegraph: Prominent pro-crypto attorney and U.S. Senate candidate John Deaton has accused the Securities and Exchange Commission (SEC) of excessive intervention in the cryptocurrency industry, leading to retail investors losing over $15 billion. Deaton emphasized that he intends to hold the SEC accountable for its regulatory actions, especially since he believes Senator Elizabeth Warren “won’t do it.”This statement comes just weeks after Deaton, a vocal advocate for XRP, secured the Republican nomination for the U.S. Senate in Massachusetts. He is set to face off against Democratic Senator Elizabeth Warren in the upcoming November election.SEC's Changing Stance on CryptocurrenciesIn a surprising development, the SEC appears to be softening its stance on cryptocurrencies. A recent court filing indicated that the SEC no longer considers tokens themselves as securities. This shift came to light in an amended complaint against Binance, with the SEC expressing regret for the "confusion" caused by its previous statements regarding tokens being securities.The move is seen as a major turnaround, particularly in light of the SEC's earlier position on XRP, which it had classified as a security. Deaton highlighted this irony, stating, "All I asked was for the SEC to honor the law and make clear that the token itself (XRP) was NOT the security."Ongoing Criticism of the SECThe SEC continues to face backlash for its regulatory approach to the cryptocurrency industry. Just recently, the commission settled with eToro, forcing the platform to halt trading for nearly all crypto assets in the U.S. and imposing a $1.5 million fine.Deaton strongly criticized the SEC's actions, accusing the agency of "gross overreach" that has cost investors billions. In a post on X (formerly Twitter), Deaton said, “The SEC’s misconduct and gross overreach caused small investors over $15 billion. On behalf of those 75K small investors I represented, we do not accept the SEC’s apology.”
According to Odaily, SBF has officially appealed his fraud conviction. In a 102-page appeal submitted on Friday afternoon, SBF's lawyers requested the U.S. Court of Appeals for the Second Circuit to overturn the original conviction and appoint a new judge for a retrial, citing unfair bias from the presiding judge. Last November, a New York jury found SBF guilty of seven counts of fraud and conspiracy related to the collapse of his cryptocurrency trading platform in November 2022. In March of this year, Judge Lewis Kaplan of the Southern District of New York (SDNY) sentenced SBF to 25 years in prison. SBF has currently served six months of his sentence.
According to the Chinese government, 1,391 individuals have been prosecuted on money laundering-related charges in the first half of 2024.
The tech giant will use public information, including posts, comments, photos, and captions from adult users on Instagram and Facebook.
2025 could bring stablecoins into the mainstream, after 2024 introduced a "turning point year in crypto," according to Circle's Allaire.