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The adoption of stablecoins is causing a stir in the world of legacy forex payment platforms, according to Kevin OLeary. The popular investor and entrepreneur shared his thoughts on why traditional payment systems are not eager to embrace stablecoins. OLeary mentioned that stablecoins, like USDC and USDT, have gained significant traction in recent years due [...]
The Bitcoin bill in New Hampshire has successfully cleared the House Committee, marking a significant step forward for cryptocurrency in the state. This development highlights the growing acceptance and recognition of digital assets in the legislative landscape. The passing of this bill signifies a positive shift towards embracing innovation and technology within the financial sector. [...]
The post Bitcoin Bill Landslide: New Hampshire House Committee Approves with Ease appeared first on Crypto Breaking News.
The United Kingdom has recently brought charges against a police officer for his involvement in a Bitcoin theft case. The officer, along with four other individuals, is accused of stealing Bitcoin from criminals. This case sheds light on the vulnerability of digital assets to theft and the importance of securing them properly. The accused officer [...]
The post UK Approves Charges Against NCA Officer for Suspected Bitcoin Theft appeared first on Crypto Breaking News.
The Texas Senate has approved a groundbreaking bill that would allow state agencies to hold Bitcoin as part of their reserve funds. This move signals a growing acceptance of cryptocurrencies as legitimate financial assets. Meanwhile, in New York, lawmakers are targeting meme coins and rug pulls with new legislation. The passage of the Bitcoin reserve [...]
The post Texas Senate Approves Bitcoin Reserve Bill as New York Cracks Down on Memecoin Rug Pulls: Law Decoded appeared first on Crypto Breaking News.
The MakerDAO community has approved a proposal that will see the crypto protocol custody as much as $1.6 billion USD Coin (USDC) with cryptocurrency exchange Coinbase.
The USDC will be held via Coinbase’s institutional custody platform Coinbase Prime, and offer a yield of 1.5%, with custodied funds accessible round-the-clock to the DAO Peg Stability Module as it looks to help push the overall growth of the stablecoin and DeFi ecosystems.
According to MakerDAO, 75% of the community voted to ratify the Coinbase Institutional Rewards proposal, paving the way for the move.
Coinbase Institutional Rewards (MIP81) has been approved by Maker Governance through a Ratification Poll.
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This outcome enables Core Units to initiate the onboarding of 33% of the PSM's USDC to @Coinbase's Institutional Rewards program.
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Coinbase believes the proposal will also help grow the USDC under custody, expanding the stablecoin’s institutional reach and rewards.
The crypto exchange, among the consortium that backed the launch of USDC and works towards its growth, believes the USD-pegged stablecoin is on track to becoming a major player in a new financial paradigm.
Jennifer Senhaji, the head of growth and business development at MakerDAO, said in a statement:
“This proposed collaboration with Coinbase follows an approved signal of intent by the MakerDAO community to increasingly invest Maker’s collateral into short-term bonds. It was agreed that any collateral deployed should meet the criteria of offering safety, cost structure, and flexibility. Coinbase is uniquely situated to offer a USDC Rewards Program that fulfils these criteria.”
The partnership will also enable MakerDAO, the issuer of DAI, advance its mission of promoting global crypto adoption via decentralised finance.
The post MakerDAO approves custody of $1.6 billion USDC via Coinbase Prime appeared first on Invezz.
A US federal bankruptcy court has approved the planned sale of crypto lender Voyager Digital’s assets to FTX US.
A restructuring update Voyager published on Friday noted that the bankruptcy judge in the Southern District of New York had approved FTX’s $1.422 billion purchase bid.
FTX US won the bid to acquire the assets of the bankrupt lender and an approval was part of the next step towards settling the asset purchase agreement in September.
Voyagers, please read this new blog post regarding court approval of Voyager’s entry into the asset purchase agreement with FTX US.https://t.co/vPAI4I12CP
— Voyager (@investvoyager) October 21, 2022What next for Voyager and FTX?The asset acquisition process comprises several steps, with what remains the most crucial as both Voyager and FTX look to close the deal that was necessitated by Voyager’s bankruptcy filing in July.
The next step is now for Voyager customers to vote on the broader restructuring plan initiated with the Chapter 11 filing.
The sale will happen if customers and creditors vote for the Plan. The Voyager team says it has confidence in its restructuring plan and that the sale to FTX will maximise recoveries to customers who’ve been waiting for their funds since the lender paused withdrawals in June.
“The deadline to vote on the Plan is November 29. Because we believe the Plan, including the sale to FTX US, maximizes recoveries to Voyager’s creditors, we urge all customers and creditors to vote in favor of the Plan.”
Voyager Team in an update on Friday 21 October 2022.If the voting favours the plan, then the Bankruptcy Court will confirm the asset purchase agreement around early to mid-December. The step will see Voyager and FTX then close the sale and embark on the process of returning value to the creditors and customers via their FTX US accounts.
The post Court approves FTX’s $1.4 billion purchase of Voyager Digital’s assets appeared first on Invezz.
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Dubai has adopted its first law to regulate the crypto sector. It has also established a dedicated regulator to oversee crypto activities and related service providers. Crypto Sector Regulated in Dubai The emirate of Dubai has adopted its first law to regulate crypto assets and established a regulator to oversee crypto activities and regulate crypto […]
The European Parliament has become the world’s first tier one jurisdiction to bring into law a comprehensive set of rules aimed at regulating cryptocurrencies. This is after EU lawmakers overwhelmingly voted in favour of the Markets in Crypto Act, or MiCA regulation. And on Thursday, Changpeng Zhao, CEO of world’s largest cryptocurrency exchange Binance, said …
<p>The post European Parliament approves MiCA, world’s first comprehensive crypto law first appeared on CCNC | Cryptocurrency Newscast.</p>
The Securities and Exchange Commission (SEC) is making progress in approving spot Solana exchange-traded funds (ETFs) just weeks after SEC Chair Gary Gensler expressed concerns about them. This development marks a significant step forward in the cryptocurrency industry as Solana continues to gain traction in the market. Spot ETFs allow investors to trade Solana directly [...]
The post SEC Approves Grayscale’s Solana ETF Filing in Significant Milestone appeared first on Crypto Breaking News.
The Securities and Exchange Commission (SEC) has officially recognized the submission of Grayscale’s request for a Cardano ETF. This marks a significant step in the journey towards potentially offering an exchange-traded fund (ETF) based on the popular cryptocurrency Cardano. Grayscale, a prominent digital asset management firm, has been seeking approval to launch a Cardano ETF, [...]
The post SEC Approves Grayscale’s Application for Cardano ETF appeared first on Crypto Breaking News.
10 Stablecoin Providers Authorized under EU MiCA The European Union has given approval to 10 different stablecoin issuers under the Markets in Crypto-Assets (MiCA) regulation. This move signals a significant step towards regulatory clarity within the fast-evolving cryptocurrency industry. The approval process was rigorous, with each stablecoin provider required to meet strict criteria established by [...]
The post EU’s MiCA approves 10 stablecoin issuers, excluding Tether appeared first on Crypto Breaking News.
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