Government documents from 2019 have been cited by an Indian crypto expert to suggest that the proposed ban on all “private cryptocurrencies” could include just about every crypto. The Indian government this week announced it would introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 when it convenes at the Winter Session on Nov. 29. The bill seeks a legislative vote on creating an official digital currency while imposing a ban on “all private cryptocurrencies.” However, there seems to be a lot of confusion regarding what exactly constitutes a “private cryptocurrency," with some users speculating it could refer …

The U.S. Securities and Exchange Commission, or SEC, announced Nov 24 the title of the upcoming crypto panel for its Dec 2 Investor Advisory Meeting will be “Helping to Ensure Investor Protection and Market Integrity in the Face of New Technologies”. Previously on Nov 15, the Commission announced the meeting would be open to the public. Panelists and moderators will attend remotely. The crypto panel discussion agenda will focus on the regulatory framework covering digital assets, market structure issues, and defining risk in emerging technologies. Additional topics are expected to include blockchain technologies, crypto-based EFTs, and stablecoins. Half of the …

Joe Longo, chair of the Australian Securities and Investments Commission, or ASIC, spoke at the Australian Financial Review Super and Wealth Summit on Nov 22 at the Fullerton Hotel in Sydney. The rise of crypto, he said, has been “nothing short of phenomenal, and impossible to ignore.” As a corporate and markets regulator, Longo admitted to a certain fascination with decentralized autonomous organizations, or DAOs. He said that they present certain challenges for national regulators like ASIC: “To paraphrase a concept familiar to corporate lawyers, to whom does ASIC turn to ascertain the directing mind and will of a DAO? …

A haphazardly assembled online group of passionate people who formed a decentralized autonomous organization, or DAO, and pooled a spectacular amount of Ether (ETH) for a noble cause came tantalizingly close to pulling off an incredible feat of collective action. While they fell short of reaching their main goal — securing the last privately owned print copy of the United States Constitution’s first edition in order to make it available to the public — the speed, scale and efficiency of the decentralized effort were profoundly impressive. The fact that the group’s objective was to preserve an artifact epitomizing the most …

President Joe Biden has tapped Jerome Powell to serve another four-year term as the chair of the Federal Reserve System’s Board of Governors. In a Monday announcement, the White House announced President Biden would be nominating Powell as his pick to lead the Federal Reserve once his current term ended in February. The executive branch cited Powell’s “decisive action” in lessening the economic impact brought on by the pandemic, as well as in the creation of 5.6 million jobs and a 4.6% unemployment rate. In addition, Biden chose current Fed board member Lael Brainard to be vice chair of the …

As 2021 comes to a close, Bitcoin (BTC) has had a tumultuous ride this year, with wild price swings that have seen the pioneer cryptocurrency hit all-time highs only to retrace to lower prices — including a 50% drop that shook the market. Now, Bitcoin is once again back and stronger than ever, even recently going past its previous all-time high. Bitcoin’s dizzying market price swings aside, it seems some politicians have recognized Bitcoin’s potential, with a wave of mayors across the United States expressing bullish sentiments. From Florida to New York, there is a seemingly growing trend of politicians, …

Jack Dorsey, co-founder, and CEO of both Square and Twitter, released a white paper Friday detailing plans for Square's decentralized Bitcoin (BTC) exchange tbDEX. Unlike most decentralized exchanges, or DEXs, tbDEX will not utilize a trustless model, and therefore will not feature its own governance token. Instead, it is a message protocol designed to facilitate trust relationships without relying on a federation to control access. The tbDEX also intends to include many features that make it far less decentralized than a DEX in the truest sense of the word. For starters, the protocol requires that all participants to pass background …

During a meeting with representatives of the financial sector on Friday in Almaty, Kassym-Jomart Tokayev, President of Kazakhstan, expressed his opinion on the current state of affairs of the country's cryptocurrency industry. The details of the speech were posted on the official website of the President of the Republic of Kazakhstan, and translated by Cointelegraph: Cryptocurrencies are an objective factor that cannot be simply ignored. It is necessary to clearly evaluate their potential to influence the current financial system. President Tokayev speaking at a conference | Source: Akorda.kz He then added: Therefore, work should be resumed on the formation of …

Robinhood’s chief legal officer Dan Gallagher described the idea of creating a new digital asset regulator was “just plain silly” at a conference on Nov. 17. Robinhood is a popular commission-free trading app that offers digital assets, and rival crypto asset exchange Coinbase put foward the idea of a new regulator in October. Gallagher told attendees at the Georgetown University Financial Markets Quality Conference that “it doesn’t make sense” to add additional agencies to “the alphabet soup of Washington.” He went on to say that attempting to transfer authority from agencies like the Securities and Exchange Commission (SEC) and Commodity …

Bitcoin (BTC) bulls were euphoric when the price soared to $69,000 on Nov. 10 because the 14.5% gain accumulated over five days meant they were in for a $715 million profit on Friday’s options expiry. However, the 9% negative price move on Nov. 16 caught bulls by surprise, especially since most of the call (buy) options for Friday have been placed at $66,000 or higher. Curiously, that price level has been the exception rather than the norm. Bears might have been lucky because the two negative events happened in the past few days. On Nov. 12, the United States Securities …

As reported by The Globe and Mail, Fidelity Clearing Canada received approval from the Investment Industry Regulatory Organization of Canada on Wednesday to launch a Bitcoin (BTC) trading and custody platform. It is designed for use by institutional investors — such as pension funds, portfolio managers and mutual funds — and would be a first-of-a-kind service in the country. The firm also plans to cater to retail investors with its regulatory filing for a Bitcoin exchange-traded funded and mutual fund, which was submitted earlier this week. As of September, Fidelity has over $4.2 trillion in assets under management around the …

Ether (ETH) traders might have a few reasons to panic after today's 13% drop down to $4,100. The swift pullback appears to have broken a 55-day ascending channel that had a target at $5,500. Those not worried about technical analysis will understand that the cryptocurrency's 3.4% daily volatility justifies the 10% negative price swing. Still, one should not disregard externalities such as the United States infrastructure bill approval on Monday. The legislation requires that digital asset transactions worth more than $10,000 are reported to the Internal Revenue Service. It remains unknown whether that will be applied to individuals and businesses …