The U.S. government is expected to rush to sell short-term debt to replenish its Treasury General Account, potentially at yields so high that banks raise deposit rates to compete for funding, reducing interest in riskier assets like equities.
“The fact that BlackRock, a well-respected and established asset management company, has filed for a Bitcoin ETF could be seen as a positive development in the quest for regulatory approval,” said Joshua Chu, group chief risk officer at blockchain technology group XBE, Coinllectibles and Marvion.
(Reporting by Mehnaz Yasmin and Medha Singh in Bengaluru)
The SEC charged the Tron Foundation and its founder Justin Sun with fraud in March.
A month later the U.S. arm of binance usdt said it would remove digital asset token tron from its trading platform.
The industry has since been reeling amid the scrutiny of global regulators, while FTX founder Bankman-Fried faces a criminal lawsuit by the U.S.
government for alleged fraud. (Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri)
June 12 (Reuters) – Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin’s liquidity.
FRANKFURT, June 29 (Reuters) – German regulators have told Binance they will not grant it a cryptocurrency custody license, a person with direct knowledge of the matter said on Thursday, the latest in a string of setbacks for the world’s biggest cryptocurrency exchange.
Binance, which was founded by Changpeng Zhao in Shanghai in 2017, has grown to dominate the crypto industry but also faces scrutiny from regulators keen to clamp down on money-laundering.
Earlier this month, Nigeria’s markets regulator ordered Binance to halt its operations in the country, saying local unit “Binance Nigeria Limited” that courted Nigerian investors through a website was not registered or regulated, making it illegal.
The SEC on June 5 accused Binance and its founder and CEO Changpeng Zhao of creating Binance.US as part of a “web of deception” to evade securities laws aimed at protecting U.S.
investors. Binance said it would defend itself “vigorously.”
Binance and its boss Changpeng Zhao have “agreed to repatriate to the United States assets held for the benefit of customers of the Binance.US crypto trading platform,” the SEC said in its statement.
Binance has come under pressure from regulators around the world.
The U.S. Binance denies the charges. Securities and Exchange Commission this month sued Binance and its CEO Changpeng Zhao over what the regulator called a “web of deception” to evade U.S.
regulator has yet to approve any applications for spot bitcoin ETFs. BlackRock’s iShares Bitcoin Trust will use Coinbase Custody as its custodian, according to a filing with the U.S.
Securities and Exchange Commission (SEC).
The lawsuits against Binance and Coinbase Global have increased fears the crypto market’s ordeal could be prolonged further after the sector was battered by a string of meltdowns including the bankruptcy of FTX, Binance’s biggest competitor, last year.
The world’s largest cryptocurrency exchange closed its Australian derivatives business and relinquished a financial services license in April amid an ASIC probe into the business.
The Nasdaq Composite added 0.13%, and the Dow Jones Industrial Average rose 0.16%. Helped by a surge in Tesla Inc, which jumped as much as 5.7%, the S&P 500 rose to levels last seen in August before paring gains.
It finished higher 0.1%, the best close since Aug.
June 15 (Reuters) – BlackRock is close to filing an application for a bitcoin exchange-traded fund (ETF), CoinDesk reported on Thursday, citing a person familiar with the matter.
More recently, regulatory scrutiny has weighed on the sector.
This month, Binance and Coinbase Global, two of the biggest crypto exchanges, were sued by the SEC for allegedly violating its rules, which the pair deny.
The payment includes $1.17 million of refunds to 4,691 investors, which may be reduced if they withdraw crypto assets during a specified 90-day period, plus a $626,000 fine.
June 29 (Reuters) – Paysafe Payment Solutions, Binance’s European banking partner, said on Thursday it will cease offering its embedded wallet solution to the U.S.
cryptocurrency exchange across the European Economic Area (EEA) from Sept.