COIN BUREAU NEWSFLASH! – (28/08/22) Here are some of today’s m | Coin Bureau Insider
COIN BUREAU NEWSFLASH! – (28/08/22)
Here are some of today’s most important headlines:
BTC Price Falls Below $20K After Fed Chair's Speech
On Saturday, we saw BTC prices fall all the way down to $19,833 before slightly recovering back above the $20,000 mark at the time of writing. This is the first time since July 14 that BTC has breached the key $20,000 mark.
The negative price action seems to have been triggered by Federal Reserve Chair Jerome Powell’s speech at the annual Jackson Hole economic symposium. Powell stated that the Federal Reserve is likely to keep raising interest rates and leave them elevated for a while to stamp out inflation.
https://www.bloomberg.com/news/articles/2022-08-26/cryptocurrencies-drift-lower-as-bitcoin-settles-in-narrow-range
Grayscale Fields SEC’s Questions on Three Grayscale Crypto Trusts Being Potential ‘Securities’
According to recent regulatory filings of Grayscale spotted by CoinDesk, crypto asset manager Grayscale Investments LLC has been responding to questions from the U.S. Securities and Exchange Commission (SEC) about tokens from three of its cryptocurrency trusts being classified as potential ‘securities’.
The tokens in question are the native cryptocurrencies from the Stellar (XLM), Zcash (ZEC) and Horizen (ZEN) blockchains. The disclosures in the regulatory filing for the three tokens were as follows,
"The sponsor has been contacted by staff from the SEC’s Divisions of Corporation Finance and Enforcement concerning the sponsor’s securities law analysis of [XLM/ZEC/ZEN]. The sponsor is in the process of responding to the SEC staff."
https://www.coindesk.com/policy/2022/08/27/sec-questions-grayscales-legal-stance-on-stellar-zcash-and-horizen-crypto-trusts/
CoinSwitch Kuber CEO Says Company Is 'Fully Cooperating' With India's Enforcement Directorate
In a tweet published on Saturday, CoinSwitch Kuber co-founder and CEO Ashish Singhal stated that the firm is “fully cooperating” with India's Enforcement Directorate (ED). He also clarified that ED’s engagement with CoinSwitch Kuber was not related to money laundering as previously reported in news outlets.
Singhal states that ED’s engagement with the firm was related to the functioning of their crypto exchange. He pointed out recent regulatory developments around the world with regard to regulating crypto and India’s own endeavour on the same.
https://www.coindesk.com/business/2022/08/27/coinswitch-ceo-in-wake-of-searches-by-indian-authorities-says-the-crypto-exchange-is-fully-cooperating/
Antpool Won't Maintain Client Assets on Ethereum After the Merge Amid 'Risk of Censorship'
Bitmain-operated mining pool ‘Antpool’ has announced that it will not support client assets on the upcoming PoS Ethereum chain due to concerns regarding censorship in many countries.
It has instructed clients to add an ETH wallet address to their current account by September 3rd, in order to distribute the accumulated ETH assets in the mining pool. Antpool added that it will continue to provide Ethhash pool mining services for assets like ETC.
https://www.theblock.co/post/166115/antpool-wont-maintain-client-assets-on-ethereum-after-the-merge-amid-risk-of-censorship
