Bitcoin Ethereum and NFTs News 📲

2024-05-12 18:35:00 Coinbase can't force the SEC to write new rules, SEC argues in new brief

The SEC has filed a new form arguing that Coinbase's petition to order the agency to develop a new regulatory system for crypto "from the ground up" should be denied. "The Commission’s determination that the rulemaking Coinbase seeks is currently unwarranted was both reasonable and reasonably explained," the SEC said, in a case before the U.S. Third Circuit Court of Appeals.

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2024-05-11 19:07:40 India Approves Crypto Exchanges Binance and Kucoin as Registered Virtual Asset Service Providers

Cryptocurrency exchanges Binance and Kucoin have successfully registered with India’s Financial Intelligence Unit as Virtual Asset Service Providers (VASPs), a top official has reportedly confirmed. Both crypto exchanges were previously banned in India due to violations of the country’s anti-money laundering regulations.

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2024-05-11 07:50:11 U.S. House's McHenry Says Bill on Crypto Market Structure Will Get Floor Vote

The most comprehensive U.S. cryptocurrency legislation to so far make it through a congressional committee will get even further, with the entire House of Representatives set to vote on whether to approve it soon, according to Rep. Patrick McHenry (R-N.C.), the chairman of the House Financial Services Committee. The House Rules Committee approved the legislation for a vote next month, potentially pushing it toward a high-water mark for crypto legislation in the U.S.

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2024-05-10 20:05:34 Kraken makes another push to dismiss SEC lawsuit ahead of June hearing

Crypto exchange Kraken's lawyers argue in their latest court filing that the Securities and Exchange Commission's arguments don't hold weight as both sides are gearing up for a hearing in June. Kraken also argued that the agency failed to satisfy elements of the Howey Test, a 1946 U.S. Supreme Court case frequently cited by the SEC, to determine if an asset qualifies as an investment contract and, therefore, a security.

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2024-05-10 07:35:11 Robinhood crypto trading volume up 224% YoY to $36 billion in Q1

Robinhood reported $36 billion in crypto notional trading volume during the first quarter of 2024, a 224% increase year over year. The firm also reported record net revenues of $618 million, up 40% year over year. The total revenues included $329 million derived from transaction revenues, which included revenue generated from its crypto business — making up $126 million of the total, a 232% increase year over year.

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2024-05-09 21:15:29 Genesis Digital Assets to Launch Flare Gas Powered Bitcoin Mining Site in Argentina

Bitcoin mining companies are increasingly searching for more environment-friendly energy sources to power their operations. Genesis Digital Assets, a bitcoin mining company, has announced that it has partnered with YPF Luz, a power provider, to build a bitcoin mining site run completely using electricity generated from flare gas in Argentina. The Bajo del Toro plant, a recently built thermoelectric facility, will provide energy to Genesis Digital Assets’ bitcoin mining data center, hosting 1,200 miners in a site inside the plant.

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2024-05-09 10:05:21 Coinbase’s Layer 2 Base Stands Out as Top Choice for New Capital

Layer 2 networks have witnessed massive activity this year, even as their native tokens slumped amidst intense volatility across the broader market. These solutions have witnessed relatively steady activity since the beginning of the year. Over the course of this week, net ETH deposits into the Base have exceeded 6,500 ETH, marking a significant increase, according to the data shared by ITB. On the other hand, its rival Arbitrum saw just half of this figure. Optimism lagged even further behind with only a fifth of the deposits Base received.

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2024-05-08 20:50:32 Vitalik Buterin proposes EIP-7702 aiming to refine account abstraction on Ethereum

Ethereum co-founder Vitalik Buterin, together with co-authors Sam Wilson, Ansgar Dietrichs, and Matt Garnett, have proposed Ethereum Improvement Proposal (EIP) 7702 as an alternative to EIP-3074, aiming to refine account abstraction on the Ethereum network. EIP-7702 suggests a novel transaction type that enables externally owned accounts (EOAs) – normal Ethereum account addresses – to temporarily function as smart contract wallets during a transaction, with their original state restored afterward.

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2024-05-08 08:55:15 Chainlink Chosen as Technology Partner for HKDR Hong Kong Dollar Stablecoin

On May 7, the crypto oracle solutions provider announced that RD Technologies was integrating Chainlink CCIP and Proof of Reserve to power its Hong Kong dollar stablecoin. Chainlink’s Cross-Chain Interoperability Protocol will be integrated to enable secure and reliable cross-chain transfers of HKDR and easier access to the new stablecoin. Additionally, the firm is also adopting Chainlink’s Proof of Reserve (PoR) to help provide reliable on-chain verification of HKDR’s reserve backing, according to the announcement.

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2024-05-07 20:14:59 Ether options’ implied volatility remains elevated, analysts say

Uncertainty surrounding the future price of ether is keeping the asset’s options implied volatility at a much higher level than that of bitcoin, analysts said. In contrast, bitcoin’s implied volatility has seen a more dramatic reduction, indicating that derivatives traders perceive the bitcoin market to be trending towards stability.

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