"The fact that BlackRock, a well-respected and established asset management company, has filed for a Bitcoin ETF could be seen as a positive development in the quest for regulatory approval," said Joshua Chu, group chief risk officer at blockchain technology group XBE, Coinllectibles and Marvion.
Investors piled into cryptocurrencies when interest rates were low, pushing the market to a peak value of $3 trillion in 2021.
But they turned cautious as rates rose, causing prices to slump and triggering fatal liquidity crunches for several crypto firms. The value of the crypto market has fallen to around $1.1 trillion, according to CoinGecko data.
Bitcoin and ether are still down about 4.5% and 8% respectively since the first SEC lawsuit was filed a week ago, though,
indicating investors are still jittery about crypto.
We had an on-site visit last week by the relevant authorities," a Binance spokesperson said. "In France, on-site visits by regulators and inspectors are part of regulatory obligations to which all financial institutions must adhere.
(Reporting by Manya Saini in Bengaluru; Editing by Devika Syamnath)
Earlier this month, the regulator sued major exchanges Coinbase and Binance in high-profile lawsuits that reverberated through the digital assets industry.
June 15 (Reuters) - BlackRock is close to filing an application for a bitcoin exchange-traded fund (ETF), CoinDesk reported on Thursday, citing a person familiar with the matter.
The
failed crypto company has been holding talks with investors about backing a potential restart of the FTX.com exchange through structures such as a joint venture, the report added citing people familiar with the discussions.
Over 50 cryptocurrencies worth over $100 billion in total and making up about 10% of the overall market, are now viewed by the SEC watchdog as securities, according to CCData. It's big.
Coinbase has said the agency hardened its stance and became less willing to work with crypto firms in the wake of the FTX scandal in late 2022.
(Reporting by Chris Prentice; Editing by Nick Macfie)
Binance and Coinbase have both denied the allegations and have accused the SEC of walking away from the firms' efforts to cooperate and come to a resolution.
The U.S. Federal Reserve has lifted rates by 500 basis points (bps) from near zero last year, the European Central Bank has hiked rates by 400 bps and many developing world economies have done far more.
Even the Bank of Japan's ultra-loose monetary settings may be approaching a crossroads.
Earlier on Friday, the company said it was leaving the Dutch market because it had been unable to meet registration requirements to operate as a virtual asset service provider.
Securities and Exchange Commission for allegedly breaching the regulator's rules, pushing its global market share to 52% from 60% at the start of the year, according to data firm Kaiko. Last month, Binance was hit by a lawsuit by the U.S.
"Given that Zhao and Binance have control of the platforms' customers' assets and have been able to commingle customer assets or divert customer assets as they please, as we have alleged, these prohibitions are essential to protecting investor assets," said Gurbir Grewal, director of the SEC's enforcement division, in the statement.
exchange Coinbase represented a dramatic escalation of a crackdown on the industry by U.S.
regulators. The suit and one filed by the SEC the following day against major U.S.
But the reasons dreamed up by the "news" are completely wrong."
Zhao, a billionaire who is one of crypto's most powerful figures, said in a tweet on Friday: "Yes, there is turnover (at every company).
Simsek said this week that the guiding principles for
币安注册 the economy would be transparency, consistency, accountability and predictability. Erdogan last week put well-regarded former finance minister Mehmet Simsek back in the post.
A group of French crypto investors filed a criminal complaint against Binance in December, accusing it of misleading the public and promoting its services before it was legally allowed to do.
The company registered as a digital asset service provider (DASP) on June 20, according AMF's website, adding a major traditional financial services group to the growing number of crypto companies registered by the French watchdog.
Binance disputes the SEC charges. It is the latest in a string of setbacks for Binance including the June 5 decision by the U.S.
Securities and Exchange Commission (SEC) to charge the company with evading securities laws.