The SEC argues that the ruling goes against “fundamental securities laws principles” such as the Howey test, which determines what falls under the category of an investment contract.Continue Reading on Coin Telegraph More
Based on the proposal, the PRT redemption price was established at $0.0045 per token. According to data from CryptoRank, the protocol raised over $89 million since its inception in 2021, with a current return on investment (ROI) of -89% for investors in its Initial DEX Offering (IDO) and initial exchange offering (IEO). Having a negative ROI indicates that investors have lost money on their investment.Continue Reading on Coin Telegraph More
A bipartisan bill was introduced into the U.S. Senate, tightening regulations and sanctions requirements for decentralized finance (DeFi). The bill would subject DeFi operations to the same requirements as other financial companies, including centralized crypto trading platforms, casinos, and even pawn shops. The proposal also makes anyone who controls that project liable for the use of the DeFi service by sanctioned persons. The bill also set new requirements for operators of crypto kiosks (or ATMs) to prevent their use in money laundering. Kiosk operators would be required to verify the identities of both counterparties in a transaction.Continue Reading on Coin Telegraph More
According to a July 20 filing with the United States Bankruptcy Court for the District of Delaware, Gabriel planned to purchase the island nation of Nauru in the Pacific using allegedly misappropriated funds through the FTX Foundation. Projects with the charity “that served little purpose other than to enhance the public stature of Defendants,” according to court documents, included a $300,000 book grant on “humans’ utility function” as well as a $400,000 grant to a YouTuber.Continue Reading on Coin Telegraph More
The registration was submitted after Ripple’s partial win against the United States Securities and Exchange Commission over the classification of its XRP (XRP) token as a security. The decision, viewed as a win by Ripple and the broader crypto community, considered the XRP token to be a security when sold to institutional investors, but not to retail investors. The case is still open to appeal by the SEC. Continue Reading on Coin Telegraph More
The price surge came after Judge Analisa Torres of the United States District Court for the Southern District of New York ordered that XRP (XRP) sales to retail investors do not qualify the token as a security in the U.S. Securities and Exchange Commission’s (SEC’s) case against Ripple.Continue Reading on Coin Telegraph More
Bitcoin is created through mining, a process involving computer hardware to solve complex mathematical problems and verify transactions on the blockchain network. For their efforts, miners are rewarded with a predetermined amount of BTC for each block of transactions. Continue Reading on Coin Telegraph More
The delivery of financial services is being revolutionized by the disruptive movement known as “open banking,” which involves securely transferring consumer financial data between financial organizations with customers’ permission. Continue Reading on Coin Telegraph More
