Business Standard

Page 6 - Crypto Trading

US SEC charges Coinbase for operating as unregistered securities exchange

The Securities and Exchange Commission is charging Coinbase with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. Coinbase was also charged for failing to register the offer and sale of its crypto asset staking-as-a-service program. Users of trading platforms can stake their cryptocurrency, essentially locking up some of their assets, in exchange for payment later, much like earning interest rates in a savings account. Those assets are used by platforms like Coinbase Global to guarantee other transactions taking place on the blockchain. Coinbase has been critical of regulations related to staking, calling them vague. The SEC complaint also alleges that Coinbase's holding company, Coinbase Global Inc., is a control person of Coinbase and therefore is also liable for some of Coinbase's violations. Shares of Coinbase Global tumbled nearly 17% before the market open on Tuesday. The SEC, which had warned Coinbase

US SEC charges Coinbase for operating as unregistered securities exchange
Updated On : 06 Jun 2023 | 7:37 PM IST

Can leverage learnings from India on crypto regulations: WEF research

From fragmented monitoring and enforcement to differing classifications of crypto assets, many barriers hinder global coordination on crypto-asset regulation efforts, a global study said on Monday while calling for leveraging learnings from India. The report published by the World Economic Forum (WEF) emphasised that while full global coordination for crypto regulation would be ideal, varying ecosystem maturity in different jurisdictions, evolving use cases, capacity of regulators and other factors make it difficult to achieve. As such, regulators and industry players should explore alternative regulatory pathways to collaborate and regulate the crypto-asset ecosystem through a principle-based, agile approach, taking into consideration the local context. In its section on recommendations, the report argued that the framework for crypto-asset regulations could leverage learnings from existing frameworks in financial services. In this context, it cited the inter-operable regulatory .

Can leverage learnings from India on crypto regulations: WEF research
Updated On : 05 Jun 2023 | 5:25 PM IST

Hackers stole about $400 mn from crypto projects in Q1 2023: Report

The report also looked into the possible causes of the decrease in crypto attacks

Hackers stole about $400 mn from crypto projects in Q1 2023: Report
Updated On : 23 May 2023 | 7:46 PM IST

Int'l securities watchdog proposes global rules for crypto sector

The moves come after crypto exchange FTX began US bankruptcy proceedings last November following a liquidity crisis that prompted intervention from regulators worldwide

Int'l securities watchdog proposes global rules for crypto sector
Updated On : 23 May 2023 | 11:45 AM IST

There is need for tech-driven regulations for digital assets: Report

There is a need for a principle-based standard operating procedures and a technology-driven regulatory framework for virtual digital assets, according to a report. The report, jointly prepared by leading public policy research and advisory firm Chase India and law firm INDUSLAW, also comes amid the crypto asset market gaining momentum over the last few years. It highlighted the requirement for developing a technology-driven regulatory framework to promote cooperation across borders and to address the major policy concerns around financial stability, investor and consumer protection, and money laundering. India is making efforts under the ongoing G20 Presidency to catalyse a global consensus to regulate the crypto asset sector. Over the last 4-5 years, the crypto asset market has gained momentum and has witnessed a substantial increase in both investor numbers and market capitalisation. However, despite the large number of industry players and consumers involved in the crypto asse

There is need for tech-driven regulations for digital assets: Report
Updated On : 22 May 2023 | 9:33 PM IST

Mudrex expands its footprint outside India, launches its platform in Italy

Mudrex CEO Edul Patel said the main reason they chose the EU was that there was more regulatory clarity there as compared to the other regions

Mudrex expands its footprint outside India, launches its platform in Italy
Updated On : 15 May 2023 | 12:15 PM IST

After ChatGPT, Sam Altman looks to disrupt crypto world through Worldcoin

Altman is close to securing $100 million in funding for his crypto project Worldcoin

After ChatGPT, Sam Altman looks to disrupt crypto world through Worldcoin
Updated On : 15 May 2023 | 9:33 AM IST

Crypto exchange Bittrex files for bankruptcy, no impact on global business

Bittrex denied the SEC's allegations, saying the crypto assets on its platform were not securities or investment contracts

Crypto exchange Bittrex files for bankruptcy, no impact on global business
Updated On : 09 May 2023 | 4:55 PM IST

Bitcoin based-memecoin 'PePe' surge seen driving Binance anxiety

Cold wallets aren't connected to the internet, unlike hot ones, and are often viewed as a more secure way of storing digital currency

Bitcoin based-memecoin 'PePe' surge seen driving Binance anxiety
Updated On : 08 May 2023 | 8:27 PM IST

Bhutan plans $500-mn fund for cryptocurrency mining in the Himalayas

Forest-laden Bhutan, sandwiched between China and India, has a population of about 777,000 and has long sought to diversify an economy reliant on hydropower revenues

Bhutan plans $500-mn fund for cryptocurrency mining in the Himalayas
Updated On : 04 May 2023 | 12:00 AM IST

Bitcoin sags after its longest streak of monthly gains since 2021

The token slid as much as 3.6% and was trading at $28,504 as of 6:40 a.m. in New York. Smaller coins such as Ether and Solana also retreated, as did an index of the top 100 digital assets

Bitcoin sags after its longest streak of monthly gains since 2021
Updated On : 01 May 2023 | 5:24 PM IST

Crypto exchange CoinDCX releases proof of reserve for January-March 2023

As of March 24, 2023, CoinDCX has reserves of 199.4 million tether (USDT) against the liabilities in 198.5 million tether (USDT)

Crypto exchange CoinDCX releases proof of reserve for January-March 2023
Updated On : 28 Apr 2023 | 2:34 PM IST

Regulating crypto without global consensus will not be effective: FM

Underlining that global consensus is necessary for regulation of crypto, before India makes any move on it, Union Finance Minister Nirmala Sitharaman on Sunday said a global template may have to be created, and everyone will have to work together on it, otherwise regulating it will not be effective. The Minister, however, said it does not mean controlling of 'distributed ledger technology', which has its goodness and potential. "The G20 of which the India is currently holding the Presidency, it was India's proposal and it has been taken on board, I'm glad that the G20 has kept it in its agenda for this year, the IMF has given a paper on crypto currency and the way it can affect the macroeconomic stability. The Financial Stability Board (FSB), which was set up by G20, has agreed to give a report that will also focus on financial stability," Sitharaman said. "Their (FSB) report and IMF's report are going to be discussed in July when Finance Ministers and Central Bank Governors will .

Regulating crypto without global consensus will not be effective: FM
Updated On : 23 Apr 2023 | 6:21 PM IST

SVB still seeing outflows after first citizens takeover, FT says

First Citizens' stock has risen more than 77% since the takeover, with its price hitting a record last week

SVB still seeing outflows after first citizens takeover, FT says
Updated On : 23 Apr 2023 | 1:51 PM IST

FTX crypto exchange restart plan draws possible bid From tribe capital

Founded in 2018, Tribe was a venture investor in both FTX, the international exchange, and FTX US, the American entity

FTX crypto exchange restart plan draws possible bid From tribe capital
Updated On : 18 Apr 2023 | 11:00 PM IST

Bitcoin stalls near $30,000 after the token's biggest drop in over a month

Recent economic data have helped to firm bets on a quarter-point Fed rate hike in May while tempering projections for subsequent policy easing

Bitcoin stalls near $30,000 after the token's biggest drop in over a month
Updated On : 18 Apr 2023 | 6:34 PM IST

Twitter partners with Israeli company, users can soon trade stocks, crypto

Twitter has partnered with Israel-based social trading company eToro, which will allow users to access stocks, cryptocurrencies and other financial assets

Twitter partners with Israeli company, users can soon trade stocks, crypto
Updated On : 14 Apr 2023 | 7:59 PM IST

Crypto exchange Binance temporarily suspends all spot trading

According to Arcane Research, the world's largest crypto exchange has also increased its market share of Bitcoin spot volume to over 90 per cent in recent quarters, because of zero commission

Crypto exchange Binance temporarily suspends all spot trading
Updated On : 24 Mar 2023 | 7:34 PM IST

Binance halts deposits, withdrawals after technical glitches: CEO Zhao

"Engine 1 is back online. Still need more time to do reconciliations, and for other engines to catch up," Zhao said in a subsequent tweet

Binance halts deposits, withdrawals after technical glitches: CEO Zhao
Updated On : 24 Mar 2023 | 6:47 PM IST

Unbacked crypto assets pose financial and fiscal risks, warns IMF

The paper was presented to the G20 finance ministers and central bank governors in February in Bengaluru, and was made public on Monday

Unbacked crypto assets pose financial and fiscal risks, warns IMF
Updated On : 13 Mar 2023 | 11:24 PM IST