New US SEC Chairman to Receive Payments from Banking Giant Goldman Sachs

Gary Gensler, the new chairman of the US Securities and Exchange Commission (SEC), came under fire after a recent disclosure. The report highlighted that the SEC head could receive over $11,724 a year in payments from Goldman Sachs. The revelation showed that Gensler might use his new role as SEC chair to attack retail investors. Some in the crypto sphere questioned Gensler's pension plan from Wall Street giant Goldman Sachs. They argued that the new SEC head could be more inclined to protect…

Recent Survey Shows 42% of Texas State Voters Want Crypto Legalized

A poll conducted by Newsweek showed that about 40% of voters in Texas state back-friendly regulations in the cryptocurrency industry. The exclusive statistics came from the London-based polling firm Redfield & Wilton Strategies. The survey comes at a period when U.S. officials are discussing cryptocurrencies. The officials are talking about the merits and demerits of cryptocurrencies. They are also investigating potential solutions on the market. The survey covered California, Florida, Pennsylvania, Georgia, North Carolina, Ohio, and Virginia. A Few U.S. states have even…

President Erdoğan of Turkey Declares War on Bitcoin

While some political and corporate leaders have been eager to invest in and adopt cryptocurrencies, others are entirely hostile. Turkish President Tayyip Erdogan recently declared outright war on the Bitcoin network. President Erdoğan: "We Are At War" President Erdoğan expressed his opposition to Bitcoin in a meeting with Turkish students this Saturday. The event comes after one of them asked if the country's central bank would adopt cryptocurrencies. Erdogan responded with total rejection: "We have absolutely no intention of embracing cryptocurrencies. On the…

Binance Eyes A Clear Regulatory Path by Adopting Centralization 

Binance exchange CEO Changpeng Zhao admits to adopting a centralized platform. Working under a centralized crypto exchange paves the way to peaceful coexistence with the regulators. By Zhao's words, Binance needs a clear record of stakeholders, risk controls, and ownership. The news comes after continuous battles with financial regulators from different countries. The Previous Struggles Binance had several regulatory fights in the past. Essentially, concerns came from regulators based in Italy, Singapore, Holland, Japan, and many more. In June 2021, Japan issued…

Woes for Crypto Exchanges in South Korea as Countrywide Clampdown Looms

Crypto exchanges in South Korea could shut down by September 24, 2021. Regulators in the region plan to close trading platforms due to compliance issues. Failure to meet regulatory standards could attract losses worth 3 trillion Korean Won. The value is equivalent to $2.6 billion. Trading Platforms Prepare for Exit Today, local crypto exchanges struggle when trying to uphold guidelines set by the government. In most cases, traders need to reveal their personal information to perform trades in the exchanges. Doing that means…

US SEC’s Gary Gensler to Face the Senate Banking Committee for Crypto Regulation Discussions

The U.S. Senate expects the Securities and Exchange Commission (SEC) Chairholder, Gary Gensler, to appear before them today. According to CNBC, U.S. lawmakers will grill him over the regulation of cryptocurrencies. Moreover, the senate questions the SEC for taking a longer time than expected to endorse the monitoring of cryptos. The Senate Queries the SEC Leader's Plans Gensler will face leaders from U.S. political parties regarding Stablecoins, Bitcoin, and other digital assets. According to reports, Gensler may ask for support…

Shark Tank Mogul Kevin O’Leary Sets Sights on Doubling His Crypto Holdings

Kevin O'Leary plans on adding more cryptocurrencies to his portfolio. The shark tank star hopes to expand his digital assets from 3% to 7%. As per Kevin, digital currencies could accumulate trillions if they entirely turn into an asset category. He intends to include more virtual assets as 2021 comes to an end. O'Leary is Comfortable with Crypto The digital currency space is currently under pressure from global regulators. As such, Kevin hopes that U.S regulators can design policies focusing on…

Coinbase Sets out to Raise About $1.5 Billion via Bond Sales

On Monday 13th, Coinbase announced plans to raise around $1.5 billion in a bond sale. The announcement comes after SEC's threats of legal actions if Coinbase launches lending services. In fact, some investors see this as Coinbase's alternative to their last week's planned lending project. The trading entity is the most popular crypto exchange, with over $5.6 billion daily trading volume. It announced on Monday plans to launch a debt offering worth $1.5 billion. This offering will raise capital to grow Coinbase and bolster…

What it Means to Make Bitcoin a Legal Tender

June 9, 2021, marks the first move that would make history in Bitcoin's timeline. El Salvador passed a bill where 62 of 84 congressional voters would make Bitcoin a legal tender. Fast forward to September 7, and El Salvador became the first country to make Bitcoin a legal tender. In this article, we shall look into what it means for Bitcoin to be a legal tender in detail; What is Legal Tender? "This note is legal tender for all debts, public and…

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