The United States Securities and Exchange Commission [SEC] has filed its Opposition to Ripple’s Motion to Compel it to answer how the Howey Test was applied to virtually all of Ripple’s transactions in XRP over the last eight years. As per the filing, “Defendants waited until the end of fact discovery, more than seven weeksContinue reading “XRP lawsuit: SEC opposes Ripple’s motion to prove Howey test application”

Prominent Bitcoin mining hardware manufacturer, Bitmain, is set to expand its mining capacity in North America with its latest deal. The company entered a deal with data center and power partners Bit5ive, and ISW holdings which will house 56,000 units of Bitmain’s mining equipment. As per the official announcement, the mining fleet will be fullyContinue reading “Joint Bitcoin mining deal involving 56,000 rigs, to enhance Bitmain operations in North America”

Most cryptocurrencies make use of market momentum and venture out on new journeys to meet the growing demand of the crypto-industry. Be it in the form of smart contracts or non-fungible tokens [NFT], clients’ rising demands have pushed Litecoin towards a decentralized token creation platform called OmniLite. As per Litecoin foundation’s official blog, OmniLite isContinue reading “Litecoin ventures into smart contracts, NFTs through OmniLite”

Coinbase has received a warning from the United States Securities and Exchange Commission [SEC] over its high-interest crypto-product, Lend. The product intends to pay a 4% interest to stablecoin owners on their savings. However, this idea did not sit well with regulators and as per Coinbase, “if we launch Lend they intend to sue.” ThisContinue reading “Ripple welcomes Coinbase ‘to the party’ as SEC threatens to sue”

Bitcoin has emerged as an alternative form of currency in some parts of the world, while the rest are still trying to find ways to control and comprehend its scope. Venezuela is among the few countries to have embraced Bitcoin, and it is now working towards a new sector that uses cheap electricity to mineContinue reading “In Venezuela mining Bitcoin, other cryptos is a way to ‘generate income effortlessly’”

Another regulatory hammer struck Binance after the country’s Central Bank put the exchange on an “Investor Alert List.” The Central Bank ordered Binance to stop soliciting trades for the Singapore resident customers. As per Binance’s official post, “As Binance constantly evaluates its product and service offerings to remain compliant with local regulations, we will ceaseContinue reading “Binance takes another hit, this time in Singapore, suspended offerings include SGD trading pairs”

Listed on Binance’s Innovation Zone, Cover Protocol, a peer-to-peer insurance marketplace shut shop, after its core developers left. The blog posted on Cover Protocol’s official Twitter handle, announced the “shutdown.” As mentioned in the blog, “The decision to do this did not come easy and is a final decision the remaining team made after reviewingContinue reading “Binance ‘Innovation Zone’ project shuts shop as developers leave”

“We do not believe we have clarity from the SEC on which tokens are considered a security and which ones are not.” The divide between the crypto-space and regulators in the United States remains as clear as ever. While the crypto-community has long sought some degree of clarity from regulators, the latter have traditionally beenContinue reading “This ‘silver bullet’ could come to the rescue of crypto-clarity in the U.S”

Regulatory crackdown on crypto has become quite prevalent in many parts of the world, including Nigeria. However, the country that homes one of the largest groups of crypto-traders in the world is now looking to introduce regulations that would encourage the protection of investors. The country’s SEC is in the news today after it establishedContinue reading “Nigeria’s SEC forms Fintech unit to study crypto for future regulations”

Colombia’s oldest bank, Banco de Bogotá, has kicked off the next stage of its crypto-pilot. As per reports, this stage will allow 5,000 of its clients to use crypto listed on Bitso and Buda cryptocurrency exchanges. The bank had previously partnered with two major exchanges as part of its crypto-sandbox project operated by one ofContinue reading “Colombia’s Banco de Bogotá to take next step in crypto-pilot with focus on spending”

The United States Securities and Exchange Commission [SEC] has at least a dozen applications for a Bitcoin exchange-traded fund [ETF] before it. And yet, none of them have been approved. Although the crypto-industry has reacted positively to SEC Chair Gary Gensler’s comment that it is about when and not if the BTC ETF will beContinue reading “For Grayscale, here’s the upside to the SEC’s Bitcoin ETF approval delay”

The rise of cryptocurrencies has also birthed a gateway to several Ponzi schemes and scams. In fact, in the last year alone, the latter have led to Eastern Europeans losing nearly $815 million. According to blockchain research firm Chainalysis who tracked the illicit share of crypto-activity by region between June 2020 and July 2021, addressesContinue reading “Crypto is popular in Eastern Europe, but it really has a Hydra problem”