Crytocurrencies

SEC Chair Gary Gensler who led US crackdown on cryptos to step down

Securities and Exchange Commission Chair Gary Gensler, who was aggressive in his oversight of cryptocurrencies, will step down from his post on January 20. Gensler pushed for changes that he said protected for investors, but the industry and many Republicans bristled at what they saw as overreach. President-elect Donald Trump had promised during his campaign that he would remove Gensler. But Gensler on Thursday announced that he would be stepping down from his post on the day that Trump is inaugurated. Bitcoin has jumped 40 per cent since Trump's victory. It hit new highs and was nearing USD 100,000 Thursday. Bitcoin moved notably higher after his resignation was announced. Perhaps most famously, Gensler gave a speech during the first year of his chairmanship in 2021 where he described the world of crypto as the Wild West. This asset class is rife with fraud, scams, and abuse in certain applications, he said in a speech at the Aspen Security Forum. There's a great deal of hype and

US SEC appeals decision that restricted its ability to regulate crypto mkts

The decision by US District Judge Analisa Torres meant the sales of the token, totaling about $757 million, were not subject to investor protection laws

Enforcement Directorate and Binance crack down on Fiewn gaming app scam

The money was laundered using digital wallets linked to a global cryptocurrency exchange

Crypto markets rebound on Tuesday amid global equity market recovery

The oldest cryptocurrency, Bitcoin, which registered a fall of over 12 per cent yesterday, has jumped over 9 per cent in the last 24 hours

Trump calls for US to become crypto capital at Nashville bitcoin conference

Former President Donald Trump on Saturday laid out his plans to wholeheartedly embrace cryptocurrency if elected for a second term, telling hundreds of cheering supporters of the digital tokens that he wants the US to be a bitcoin superpower under his leadership. In his keynote address at a bitcoin conference in Nashville, Tennessee, the Republican presidential nominee promised to make the United States the crypto capital of the planet and create a bitcoin strategic reserve using the currency that the government currently holds. He also promised to remove Securities and Exchange Commission Chair Gary Gensler if elected and implement a crypto advisory council, teasing the crowd by asking attendees if anyone wanted to join. We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry, he said. Trump's keynote address at the Bitcoin 2024 conference showed how radically his position on cryptocurrency has changed over time.

Bitcoin set for biggest monthly jump since 2020 boom amid ETF boost

The largest cryptocurrency by market capitalisation was last up 3.4% at $62,205, having changed hands at $63,933 overnight, the highest since late 2021

Singapore's crypto firm Terraform files for bankruptcy protection in US

Singapore-based Terraform labs, in a filing with the bankruptcy court in Delaware, listed assets and liabilities in the range of $100-$500 million

G20 must join hands to meet challenges from dynamite, metaverse: Amit Shah

Warning the global community about security challenges which have evolved from "dynamite to metaverse" and "hawala to crypto currency", Union Home Minister Amit Shah on Thursday asked G20 member countries to rise above conventional boundaries and share information on real time to check all crimes in the cyber space. Speaking at the 'G20 Conference on Crime and Security in the Age of NFTs, AI & Metaverse', he underlined the threats emanating from cyber criminals using darknet, metaverse, deepfakes, ransomware and toolkit-based misinformation campaigns and strategic targeting of critical information and financial systems. Without taking names, Shah said some anti-social elements and global forces are using technology to cause economic and social harm to citizens and governments. "The G20 has so far focused on digital transformation and data flow from an economic perspective, but now it is important to understand the aspects of crime and security, and find a solution," he said. Shah .

Bitcoin bulls take heart from smaller token Litecoin's market, beating jump

Litecoin was created in 2011 and aims for faster transactions than Bitcoin

Bitcoin trading volume tanks massively by 58% to $492.9 billion in April

Bitcoin trading volume sank by almost $700 billion in April, historically seen as one of the strongest months for Bitcoin and other cryptocurrencies, bringing the biggest average monthly returns

ED seizes crypto currencies, assets of Rs 34.75 cr in illegal forex trading

The ED investigation has revealed that the online trading app and website are operating in India in association with India based entity OctaFx India Pvt. Ltd

FTX assets: Lawyers located billions in cash and crypto located

In just three years, FTX, founded by Sam Bankman-Fried, had swiftly put money into a hodgepodge of assets

Cryptoverse: Bitcoin on the charge in 2023, clocks a 26% gain in January

Bitcoin is on the charge in 2023, dragging the crypto market off the floor and electrifying bonk, a new meme coin. The No.1 cryptocurrency has clocked a 26% gain in January

Sam Bankman-Fried's political donations under US scanner: Report

The disgraced cryptocurrency entrepreneur, whose empire made him a billionaire before it collapsed and he was arrested, was a major political donor

FTX CEO secretly gave $27 mn to crypto news site The Block, its CEO

Bankman-Fried also loaned McCaffery $16 million, some of which helped him purchase property in the Bahamas, where FTX is headquartered, according to Axios

Indian-origin investor takes legal action after losing $2 mn in FTX crash

An Indian-origin entrepreneur, who lost $2 million after FTX went kaput last month, is taking legal action against the cryptocurrency exchange's founder, according to a report

Amazon is making series on FTX with Marvel movies famed Russo brothers

Amazon has ordered a limited series from the Russo Brothers' ABGO company focusing on the ongoing FTX crypto scandal

Top Headlines: CBIC seeks details on digital assets, govt to form GACs

Business Standard brings you the top headlines at this hour

Top US regulators say cryptocurrency poses financial stability risks

Top regulators on Monday recommended a series of new safeguards to ensure that a growing and unregulated cryptocurrency market doesn't imperil US financial stability. Among seven major recommendations, regulators called on Congress to pass legislation that would address the systemic risks caused by the growth of stablecoins, which are a form of cryptocurrency pegged to the price of another financial asset, like the US dollar or gold. Recent volatility in the cryptocurrency market, especially in stablecoins, has made regulators particularly wary about the need for regulation as usage of the digital asset continues to grow. Members of the Financial Stability Oversight Council met on Monday to approve the recommendations of a 125-page report created in response to President Joe Biden's March executive order on digital assets. The report also calls for giving agencies greater regulatory power over cryptocurrencies and digital assets. The oversight council is an interagency group heade

Bitcoin touches lowest level since December 2020 after Fed's 75 bps hike

As of 12 PM (IST), Bitcoin was trading at $18,735, and Ethereum was at $1,272. The total crypto market cap is now nearing $900 billion