CryptoCurrency Facts Blog
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Get the latest news, opinions, and insights on cryptocurrencies and the crypto industry from our cryptocurrency blog. Cryptocurrency Facts takes a look at digital currencies like Bitcoin to help explain what cryptocurrency is, how it works, and its implications.
CryptoCurrency Facts Blog
9M ago
Coinbase’s New Offering and Its Significance
In a recent turn of events, Coinbase Global announced a significant achievement. On August 16th, as reported by Reuters, the company secured the much-anticipated approval to offer cryptocurrency futures to a new market segment: U.S. retail customers. This move is not just a win for Coinbase but also a testament to the evolving landscape of cryptocurrency trading.
Previously, only the institutional clients of Coinbase had the privilege to trade in such products. With this approval, eligible U.S. customers can trade in Bitcoin and ether futures direct ..read more
CryptoCurrency Facts Blog
9M ago
Cryptocurrency’s significant advancements in functionality, applications, and security have sparked interest across various industries. Its decentralized nature and ability to facilitate secure and fast transactions have revolutionized finance, supply chain management, and healthcare sectors. The adoption of cryptocurrency has proven its value in providing efficiency and transparency. However, these benefits are not limited to technology-based industries. Blockchain and cryptocurrencies have also positively impacted the real estate industry.
Cryptocurrency’s Influence on the Real Estate Indust ..read more
CryptoCurrency Facts Blog
9M ago
OpenAI’s CEO, Sam Altman, recently launched a new cryptocurrency project, Worldcoin. This innovative project aims to revolutionize how we perceive and interact with digital currencies.
The Core Offering: World ID
Worldcoin’s core offering is the World ID, a digital passport designed to authenticate its holder as an actual human, not an AI bot. To obtain a World ID, customers must undergo an in-person iris scan using Worldcoin’s unique device, the ‘orb.’ This silver ball, approximately the size of a bowling ball, verifies the person’s identity and subsequently creates a World ID.
The Company Be ..read more
CryptoCurrency Facts Blog
10M ago
Brian Armstrong, the Chief Executive of Coinbase, is set to meet privately with a group of Democrats from the United States House of Representatives on July 19th, 2023. This meeting comes when major players in the crypto market, including Coinbase and Binance, are facing legal action by regulators.
The Meeting: A Confluence of Minds
Armstrong’s meeting with the Democrats is a strategic discussion on the future of digital asset regulation. The timing of this meeting is crucial. Coinbase and Binance, two of the world’s largest crypto exchanges, are grappling with lawsuits from the US Securities ..read more
CryptoCurrency Facts Blog
10M ago
Understanding the SEC Stance on Bitcoin ETFs
The U.S. Securities and Exchange Commission (SEC), the proverbial “gatekeeper” of financial markets, has a difficult position on spot Bitcoin exchange-traded funds (ETFs). According to the brokerage firm Bernstein, the odds of the SEC approving such a financial product are good. Though challenging to maintain, the SEC’s stance may be about to change.
We must first understand the SEC’s perspective on futures-based bitcoin ETFs to appreciate this potential shift. Bernstein reports that the SEC has previously given these types of ETFs the green light ..read more
CryptoCurrency Facts Blog
10M ago
The U.K. is on a path of regulatory innovation. Preston Byrne, a partner at Brown Rudnick, suggests that while these Financial Conduct Authority (FCA) regulations provide greater legal clarity for developers, they impose additional compliance burdens on companies marketing cryptocurrencies.
Earlier this month, the FCA, U.K.’s financial conduct regulator, announced new, near-final proposed rules. These rules coincide with the recently enacted secondary legislation focusing on the financial promotion of crypto-assets within the country. The following is a breakdown of these rules and what these ..read more
CryptoCurrency Facts Blog
10M ago
In a recent development, Germany’s financial regulator, BaFin, has reportedly informed Binance, the world’s largest cryptocurrency exchange, that it will not be granted a cryptocurrency custody license in the country. This news, initially reported by Finance Forward, is a significant setback for Binance, which has been striving to establish a legitimate presence in Germany and other regions around the globe.
Regulatory Challenges for Binance
Binance, under the leadership of its CEO Changpeng Zhao, has recently been under pressure from regulators worldwide. This month, the U.S. Securities and E ..read more
CryptoCurrency Facts Blog
10M ago
Japan’s National Tax Agency has revised its corporate tax guidelines in a remarkable move that has far-reaching implications for the crypto landscape. As of June 20, token issuers in Japan no longer need to pay corporate taxes on unrealized cryptocurrency gains, commonly referred to as “paper gains.” This law revision signifies a critical shift in Japan’s approach to cryptocurrency taxation and is expected to stimulate the industry’s growth.
The Law Revision and Its Implications
The Japanese government approved a proposal in December 2022 to eliminate the requirement for crypto firms to pay ta ..read more
CryptoCurrency Facts Blog
10M ago
Today, June 23rd 2023, the US Supreme Court has just weighed in on a case involving Coinbase, one of the biggest cryptocurrency exchanges. This article will explore the ruling, its implications, and what this means for the cryptocurrency industry.
The Ruling
On June 23, the US Supreme Court made a groundbreaking ruling favoring Coinbase. The case revolved around two class-action lawsuits in California, where plaintiffs claimed that Coinbase failed to provide proper relief after users lost money and engaged in deceptive advertising. Coinbase argued that users had agreed to resolve disputes thro ..read more
CryptoCurrency Facts Blog
11M ago
The Fall of FTX and Sam Bankman-Fried’s Legal Battle
In the world of cryptocurrency, few stories have been as seismic as the collapse of the FTX Exchange. Once a titan in the industry, the company filed for bankruptcy in November, setting off shockwaves that rippled through the financial sector.[1]
The man at the heart of this drama is Sam Bankman-Fried, the disgraced founder of FTX, who now faces 13 federal charges related to the downfall of his cryptocurrency empire. These charges involve allegations of misleading investors and lenders and stealing billions of dollars in customer funds. Bank ..read more