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New Zealand still isn’t ready to commit to crypto regulation, the Reserve Bank of New Zealand said Friday. It did, however, call for “increased vigilance” following a submission period that closed in April. The Reserve Bank received 50 submissions — from Ripple to Grant Thornton. Following a period of submissions, the Bank published a paper to further detail its thinking on digital assets — including central bank digital currencies (CBDCs). According to the Atlantic Council’s stablecoin tracker, roughly 130 countries are exploring a CBDC. In 2021, the bank announced that it was exploring a CBDC, but the paper reiterates that the bank has “not made any decision about the need for one.”  On the topic of regulation, the Bank noted that submitters had suggested that crypto startups be allowed to “grow into regulation.” This could allow for “regulatory sandboxes” and a “tiered compliance approach .” The suggestions, though, don’t mean that New Zealand will pursue such a regulatory str...

Also Read: XRP Whales Scoops 360 Million XRP; Ripple Lawsuit Verdict Near? Ethereum To Emerge As Winner? A user asked Buterin, how he feels about the US policy approach to crypto amid recent enforcements. Ethereum founder stated that he feels bad that major projects like Solana are getting hit in this way. He asserted that these blockchains don’t deserve this. He mentioned that if Ethereum ends up winning when all other blockchains are getting kicked off from crypto exchanges, would not present an honorable way to win. However, he suggests that this isn’t even a victory in the long term. As per Ethereum founder, its real competition is not with other chains in the crypto industry as it is rapidly expanding in the centralized world. Meanwhile, Buterin wished that all the blockchain projects gets a fair outcome amid the increasing uncertainty. ...

While the media focuses on the ongoing fallout of FTX and Alameda Research, what’s still curious and murky is how the two firms actually made money. Is it possible that Chinese capital flight helped fund the American-made cryptocurrency ‘saviour?’ Rumors suggest that Sam Bankman-Fried (SBF) had taken advantage of the ‘Kimchi Arbitrage’ and the Japanese arbitrage — the discrepancy between the price of cryptocurrencies in Korea or Japan with the prices of cryptocurrencies in the US, which meant buying in whichever country presented a discount and selling in the country presenting a premium. While there absolutely was an arbitrage play during Alameda’s startup period, the idea that SBF — a twenty-something fresh off the heels of a stint at Jane Street — could make it work and sustain it, while billionaires and giant funds couldn’t, seems unlikely. Risky loans for cash-strapped startup Leading figures in the Effective Altruist movement SBF and Tara Mac Aul...

Many market watchers expected BTC to retrace and retest support at $28,000, but the enhanced market structure bolstered by a sudden rise in interest from institutional investors has ensured Bitcoin price upholds its position above $30,000. advertisement The largest cryptocurrency is trading at $30,230 on Thursday, with $10.5 billion in trading volume recorded in 24 hours. Despite the stability exhibited, BTC is down 0.7%. MicroStrategy Buys 12,333 BTC The crypto market has been extremely eventful this June, starting with an intensified crackdown by the US Securities and Exchange Commission (SEC). Leading crypto exchanges Coinbase and Binance were sued by the regulator, with 64 cryptocurrencies, including Cardano (ADA), Polygon (MATIC), and Solana (SOL), implicated as security tokens. Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List ...

EDX, a crypto exchange backed by prominent financial institutions like Charles Schwab, Fidelity, and Citadel Securities, has reportedly severed its planned partner ship with Paxos and is now close to finalizing an agreement with Anchorage Digital. Last year, EDX had originally announced its collaboration with Paxos, a well-known blockchain firm headquartered in New York, renowned for issuing the Binance stablecoin BUSD. Under the proposed arrangement, Paxos would have acted as the custodian for the digital assets of EDX’s clients while also providing direct access to Paxos customers. However, according to Bloomberg sources, EDX has abandoned this plan in favor of a different custodial solution. You might also like: BCH gains 112% following EDX Markets listing Anchorage Digital, a San Francisco-based cryptocurrency custodian, is now the frontrunner to fill the role that Paxos once occupied. Anchorage Digital holds a bank charter from the Office of the Comptroller (OCC...

Join Our Telegram channel to stay up to date on breaking news coverage The introduction of bizarre but surprisingly profitable memecoins in the cryptocurrency industry is anything but unusual. While the overall market still seems to be making attempts to recover, another trending memecoin called “L” has managed to make its way to massive popularity. Naturally, memecoin enthusiasts found out and started stocking up on the crypto early, with hopes of potential profits. But now that the token has launched officially, a majority of them have been wondering what L’s price action may look like in the upcoming weeks. Bitcoin, the leading cryptocurrency, has exhibited bullish indications by maintaining its position within the $30k range for an extended period of over a week. With major altcoins also displaying renewed strength, it may be plausible to anticipate a price surge for L in the near future. This could also likely be due to its incredibly popular and distinc...

Also Read: Binance Announces New Functions For Bitcoin , ETH, XRP, SHIB, DOGE Auto Invest advertisement In March 2023, Grayscale argued before the judges that the SEC had contradicted its own earlier orders about approving the GBTC spot Bitcoin ETF. The SEC representatives were on the receiving end of questioning from the judges over its reasoning to reject the request. In this context, Bloomberg legal analysts believe that Grayscale scored a crucial edge in the hearing, putting the SEC in a spot. Grayscale Bitcoin ETF Approval In August 2023? According to Elliott Z. Stein, senior litigation analyst at Bloomberg Intelligence, the firm has a 70% chance of winning the lawsuit against the SEC. He expects that the SEC will be forced to approve the ETF request before the court delivers the decision in August 2023, the same time when Ark Investment Management’s ETF approval decision is pending. After the U.S. SEC rejected the Grayscale application in June ...

Bitcoin (BTC) has registered impressive despite a predominantly bearish atmosphere. Amid this trend, a recent analysis by a CryptoQuant market observer suggests the return of smart investors in the market, which could signal the start of a bull run.  The potential resurgence of these investors after a period of dormancy has piqued the interest of market participants. Is the smart money coming back? "The market often sees a cycle of "Stupid money" participating late after the bull market and " smart money" participating in advance before the bull market." by @bitcoin_lupin Linkhttps://t.co/QDLQKpZoEz — CryptoQuant.com (@cryptoquant_com) June 27, 2023 According to the report, which cited data from the Realized Cap UTXO Bands, market trends indicate a typical cycle where “stupid money” joins the market late in the bull run while “smart money” enters the scene well in advance.  You might also like: Gemini enabl...

The Swiss National Bank (SNB) is set to introduce a Central Bank Digital Currency (CBDC) for wholesale payments on the country’s SIX Digital Exchange, marking Switzerland’s entry into the expanding arena of digital currency innovation. Swiss National Bank (SNB) has made a groundbreaking announcement with its decision to commence issuing a CBDC specifically for wholesale payments on Switzerland’s SIX Digital Exchange, according to its chairman Thomas Jordan. Swiss National Bank to launch CBDC on Switzerland's SIX digital exchange "This is not just an experiment, it will be real money equivalent to bank reserves and the objective is to test real transactions with market participants," Chairman Thomas Jordan CBDC'S HAPPEN SLOWLY… pic.twitter.com/o6BRKCUI5M — Kyle Chassé (@kyle_chasse) June 26, 2023 This move indicates a shift towards digital financial systems and places Switzerland alongside other nations such as China, India, and Austral...

Also Read: SEC Dodges To Take Position On “Security” Issue In Binance Case advertisement Coinbase CEO On Economic Freedom In U.S Amid facing legal challenges from the U.S. Securities and Exchange Commission , Brian Armstrong, CEO of Coinbase pointed out falling economic conditions in the country. He stated that economic freedom is still a crucial measure to check out any country’s potential growth. However, Coinbase ’s major mission is to grow economic liberty. Armstrong praised Singapore and mentioned that it stands at the top of the 2023 ranking. He highlighted that the country has done an incredible job on the majority of the dimensions included. However, there is still one area left where Singapore can do better, he added. According to a report, the United States is on a major decline in economic freedom ranking in 2023. It now stands at the 25th spot. It added that the biggest reason behind its fall is Congress spending. ...