The decision relates to an order from 2020, in which the SEC exempted SPIKES Index — a stock volatility index — from the definition of security futures, thus eliminating heavy taxes and other regulatory requirements attached to the term ‘security’. The relief, according to the SEC, was intended to promote competition among volatility indexes. Continue Reading on Coin Telegraph More
Vitalik Buterin, the co-founder of the Ethereum network, released a long-form essay with his thoughts on the recently launched Worldcoin human identity verification system, addressing the larger concept in discussion with the release of the Worldcoin token proof-of-humanity. Worldcoin initiated its public launch on July 25 after nearly two years of development and beta testing, but criticism of it erupted almost immediately. The United Kingdoms Information Commissioners Office is deciding whether to investigate the project for violating the countrys data protection laws. The French National Commission on Informatics and Liberty also questioned Worldcoins legality. In response to criticism of its data collection practices, the project released an audit report on July 28.Continue Reading on Coin Telegraph More
The crypto markets continued their lackluster performance on July 28 after the United States Personal Consumption Expenditures (PCE) Index print came in lower than analysts’ expectations. The PCE is the Fed’s preferred inflation metric; hence, it is watched closely by market observers.Continue Reading on Coin Telegraph More
The letter urges policymakers to review some of the provisions of the EU’s Artificial Intelligence Act, claiming that regulating upstream open-source projects as if they are commercial products or deployed AI systems would hinder open source AI development. “This would be incompatible with open source development practices and counter to the needs of individual developers and non-profit research organizations,” noted GitHub in a blog post. Continue Reading on Coin Telegraph More
A report by Research and Markets predicts that the global food and beverage NFT market size is expected to exceed $2 billion by 2032. These statistics have been evident as global fast-food brands, including Pizza Hut and Papa John’s, are recently discovering new ways to integrate NFTs into their marketing strategies. Continue Reading on Coin Telegraph More
This bankruptcy marks another bank failure in weeks following the collapse of First Republic in early May.According to reports, the FDIC has taken on the responsibility of protecting customer deposits by assuming all liabilities of Heartland Tri-State Bank. A purchase and assumption agreement was also made between the FDIC and Dream First Bank (NASDAQ:FRBA) of Syracuse, Kansas, to ensure a seamless transition. As a result, all four Heartland Tri-State Bank branches will reopen on Monday under the Dream First Bank name.The turbulence in the banking sector, including the closures of renowned institutions like First Republic, Silicon Valley Bank, and Signature Bank (OTC:SBNY) early this year, has spurred lawmakers into action, leading to the tightening of legislation to protect customer deposits and stabilize the financial system.Heartland Tri-State Bank had been grappling with mounting challenges before its ultimate failure, reporting approximately $139 million in total assets and $130 million in total deposits. Despite this setback, the FDIC reassures customers that they can access their funds without disruption through checks, ATMs, and debit cards.Clients can expect a seamless transition to Dream First Bank as their accounts will be automatically converted without any additional action required. In addition, to make the process even smoother, Dream First Bank has taken over “essentially all” of Heartland Tri-State Bank’s failed assets.To address the concerns of loan customers, the FDIC has stressed that the bank’s failure will not adversely affect them. A joint agreement between the FDIC and Dream First Bank ensures that loan terms will remain unchanged, and customers are advised to continue making payments as usual, including escrow payments.The collapse of Heartland Tri-State Bank serves as a poignant reminder of the importance of robust banking regulations and protective mechanisms for customer funds. Still, the overall financial system is fragile, even though the job market is stable and the economy is strong. This week, despite decreasing inflation, the United States Federal Reserve increased interest rates to multi-year highs.Amid this news, Bitcoin prices are firm but lower, tracking below $30,000 when writing on July 29.This article was originally published on Crypto.news More
The letter requests information about whether the App Store’s guidelines might inadvertently hinder the progress and growth of cutting-edge innovations.Continue Reading on Coin Telegraph More
According to data from on-chain analytics firm Glassnode, intraday BTC exchange inflows have hit multi-month highs.Continue Reading on Coin Telegraph More
