European Union lawmakers have adopted new draft legislation imposing a 1,000 euro ($1,083) cap on anonymous crypto transfers to combat money laundering and terrorist financing. According to a European Parliament statement published on March 28, the limit would apply to a crypto asset transfer when a customer can’t be identified. Cash transactions will also be
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Binance CEO Changpeng Zhao (CZ) has addressed the allegations against him by the U.S. Commodity Futures Trading Commission (CFTC). “We do not agree with the characterization of many of the issues alleged in the complaint,” the executive stressed. CZ Responds to CFTC’s Allegations The CEO of cryptocurrency exchange Binance, Changpeng Zhao (CZ), published a blog
With the rise of Ordinals on Bitcoin (BTC) sparking debate over how users should store their NFTs and blockchain gaming projects searching for cheaper, secure ways to store data, it’s time to revisit the discussion surrounding decentralized storage coins. Decentralized storage protocols Filecoin (FIL) and Arweave (AR) show similar price action, leaving investors with a
Bitcoin (BTC) faces a choice between two key levels as part of a “macro trend defining range,” analysis says. In a Twitter survey on March 27, monitoring resource Material Indicators said that BTC price action was now in a critical trading zone. Market giving clues that “big move is coming” Bitcoin has managed to hold
The price of Bitcoin (BTC) fell 3.6% to $26,900 after Binance and CEO Changpeng “CZ” Zhao were sued by the United States Commodity Futures Trading Commission (CFTC) on March 27. To date, Binance has been investigated by the CFTC, the US Securities and Exchange Commission (SEC), the Internal Revenue Service and federal prosecutors. The Bitcoin
Right as analysts thought that Bitcoin (BTC) was on the cusp of confirming a new bull market, the crypto market took a turn to the downside after the fallout from the United States Commodity Futures Trading Commission (CFTC) presented a lawsuit against Binance and its CEO Changpeng “CZ” Zhao. The lawsuit against the crypto sector’s
National cryptocurrency exchanges have paused their activities in Venezuela according to reports, as the anti-corruption probe on national crypto watchdog Sunacrip and unlawful oil sales continues in the country. Tarek William Saab, attorney general, confirmed the involvement of the institution in a parallel scheme that involved the sale of Venezuelan oil to third parties, mentioning
This week on The Market Report, our beloved host, Joe Hall, and insightful expert Sam Bourgi, unfortunately, could not make it, but don’t worry because Marcel Pechman is here to breakdown everything that is happening between the United States Commodities Futures and Trading Commission, Binance and Changpeng “CZ” Zhao. Breaking: Binance and CZ sued by CFTC
Bitcoin (BTC) attempted to rescue $27,000 support on March 28 as dust settled on United States regulatory action against largest exchange Binance. Binance CEO dimisses “disappointing” complaint Data from Cointelegraph Markets Pro and TradingView showed BTC/USD repeatedly testing the $27,000 mark overnight. The pair had seen downward volatility the day prior as news hit that
Bitcoin moved below $27,000 during Tuesday’s session, as the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance. The suit claims that Binance knowingly offered unregistered crypto products to U.S. customers. Ethereum was also lower on the news, briefly falling below $1,700. Bitcoin Bitcoin (BTC) fell below $27,000 in today’s session, as markets
Right before the exchange platform Binance and its CEO Changpeng Zhao have been accused of regulatory violations by the United States Commodity Futures Trading Commission (CFTC), almost a billion dollars in crypto reportedly left the platform’s wallets. According to the Thanefield Capital data research, a few hours before the Binance CFTC indictment, which occurred at
Bitcoin ATM manufacturer General Bytes says it is reimbursing its cloud-hosted customers that lost funds in a “security incident” in March that saw its customers’ hot wallets accessed. As previously reported by Cointelegraph, the ATM manufacturer issued a statement about a security incident on March 17 and March 18, which involved a hacker remotely uploading
Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained. Ethereum’s
Gains accrued by staking cryptocurrency should not be treated as a taxable event. It only makes sense to tax such gains upon their conversion to legal tender currency. To do otherwise undermines a marquee environmental policy from the administration of United States President Joe Biden. The Internal Revenue Service appears strongly inclined to treat staking
Bitcoin (BTC) enters the last week of March in uncertain territory as a strong weekly close still keeps $30,000 out of reach. The largest cryptocurrency has sealed seven days of practically flat performance despite some volatility in between as the market seeks fresh direction. Where could it go next? In what was a week of
XRP (XRP) price is currently outperforming all other major cryptocurrencies as of March 27, rising over 20% in the past seven days. XRP accumulation ahead of SEC vs. Ripple ruling XRP has seen steady gains over the past seven days as the ongoing legal quandary between Ripple and the U.S. Securities and Exchange Commission (SEC) is
The world’s largest crypto exchange by trade volume, Binance Holdings Ltd., has been sued by the U.S. Commodity Futures Trading Commission. Binance CEO Changpeng Zhao has been named in the lawsuit and the charges claim the crypto exchange broke several trading and derivatives rules. The lawsuit also names Binance’s former chief compliance officer, Samuel Lim,
After gaining 11% between March 16 and March 18, the total crypto market capitalization has been battling resistance at the $1.2 trillion level. This same level was reached on August 14, 2022 and was followed by a 19.7% decline to $960 billion over the next two weeks. During the lateralization period between March 20 and
Cryptocurrency exchange Binance continues expanding its global reach by setting up a new blockchain hub in crypto-friendly Georgia. Binance announced on March 26 the opening of its brand-new blockchain hub in Georgia, aiming to promote further adoption of crypto in the country. Referring to the hub as a “Web3 outpost,” Binance intends to attract talent to the
Bitcoin started the week trading around the $28,000 mark, as markets reacted to the news that Silicon Valley Bank was to be acquired. First Citizen Bank agreed to buy approximately $72 billion in SVB assets, at a discounted rate of $16.5 billion. Ethereum continued to trade under $1,800 on Monday. Bitcoin Bitcoin (BTC) started the