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Hong Kong's Grace Period for Crypto Exchanges Ending — Trading Platforms Must Obtain License by June 1

May 30, 2024

The Hong Kong Securities and Futures Commission (SFC) has issued a reminder that crypto trading platforms must obtain a license to operate in Hong Kong before the grace period ends on June 1. The regulator warned that operating without a license is a criminal offense and will enforce compliance. Investors are advised to only trade on SFC-licensed crypto trading platforms. Regulatory Deadline…

Texas Issues Emergency Cease and Desist Against Arkbit's Crypto Operations

May 30, 2024

The Texas State Securities Board has issued an Emergency Cease and Desist Order against Arkbit Capital and its affiliates, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining. These companies were found operating a fraudulent MLM cryptocurrency investment scheme.

Ethereum Futures Open Interest Hits All-Time High Following ETF Approvals

May 29, 2024

Ethereum has experienced a significant increase since the U.S. Securities and Exchange Commission (SEC) approved a group of spot ether exchange-traded funds (ETFs). This week, ether reached a high of $3,980 per coin, which is approximately 18.4% below its all-time high. Amid…

Ripio CEO: Brazilian Companies Are Paying Chinese Suppliers With Cryptocurrency

May 29, 2024

Sebastian Serrano, CEO of Ripio, one of the largest exchanges in Latam, stated that Brazilian companies were already harnessing cryptocurrency to pay their Chinese suppliers. In an interview, Serrano asserted that Latam countries harnessed crypto in different ways and that Argentine companies are using cryptocurrency to protect from crippling inflation numbers. Ripio CEO Sebastian Serrano: Chinese…

US Jury Convicts Two in $8M Crypto-Linked Dark Web Drug Scheme

May 29, 2024

A federal jury in Salt Lake City convicted Oluwole Adegboruwa and Enrique Isong, foreign nationals, of multiple drug-related charges. From 2016 to 2019, they generated over $8 million in cryptocurrency, including bitcoin and ethereum. Adegboruwa operated under the names…

Hedge Funds Adopt Net Short Positions on BTC and ETH Futures, Kaiko Analysis Reveals

May 27, 2024

In a recent analysis by Kaiko, it has been found that hedge funds are currently holding net short positions on bitcoin (BTC) and ether (ETH) futures. This strategic move reflects a cautious stance amid fluctuating market dynamics and speculative trading activities. Study…

Deadline Looms for Biden to Veto Congressional Overturn of SEC's Crypto Rules

May 27, 2024

The deadline for President Joe Biden to decide whether to veto or sign a resolution overturning the U.S. Securities and Exchange Commission (SEC)’s controversial crypto rules is approaching. The resolution passed both the House of Representatives and Senate despite a prior White House veto threat. Biden Faces Veto Deadline The resolution to overturn the U.S. Securities and Exchange…

Justin Sun Advocates Supporting a Crypto-Friendly U.S. Presidential Candidate

May 27, 2024

TRON founder Justin Sun has made a public call to back a U.S. presidential candidate favorable to cryptocurrencies. Sun emphasizes the importance of recognizing the cryptocurrency community—including companies and protocols—as key stakeholders in the political arena. He…

QCP Capital Predicts 60% Rally With Imminent US Approval of Spot Ethereum ETFs

May 24, 2024

Crypto asset trading firm QCP Capital has forecasted a potential 60% increase in the price of ether, projecting it could surge to around $6,000 if the U.S. approves spot ethereum exchange-traded funds (ETFs). The prediction coincides with a significant increase in market…

US Lawmakers Pressure SEC to Apply Same Principles for Ethereum as Bitcoin ETFs

May 24, 2024

Five U.S. representatives have called on the U.S. Securities and Exchange Commission (SEC) and Chair Gary Gensler to ensure a uniform and fair treatment in their review of upcoming ethereum exchange-traded funds (ETFs), similar to their method used for approving spot bitcoin ETFs. SEC Urged to Maintain Consistency Between Ethereum and Bitcoin ETFs Five U.S. representatives have urged the U.S.