US Rep. Tom Emmer accuses SEC Chair Gary Gensler of “regulation-by-harassment,” demanding his dismissal. Mark Cuban echoes the call, citing harm to crypto growth. Crypto leaders warn current SEC practices may hurt Biden’s re-election. #CryptoRegulation
Germany has sold its last 3,846 $BTC, totaling $223.81M, marking the end of a month-long selloff of over 46,000 BTC. This move impacted crypto markets, keeping Bitcoin below $60K. Market experts now predict potential recovery and stabilization. #Crypto #BitcoinNews
Elon Musk’s X (formerly Twitter) rejected the European Commission’s deal to avoid fines for censoring speech without user consent. X faces penalties under the Digital Services Act (DSA) for deceptive practices and poor advertising transparency. Commissioner Thierry Breton stresses the need for transparency. #Regulation
ESMA clarifies that under MiCA, crypto staking is not banned but must be authorized as it is considered ancillary to custody services. CASPs must provide specific disclosures and obtain user consent before staking assets. This move aims to address concerns over asset loss and user access. #CryptoRegulation
Dutch court denies bail for Tornado Cash developer Alexey Pertsev, who faces 64 months in prison for aiding $2.2B money laundering. Pertsev ordered to forfeit $2M and a Porsche. This emphasizes crypto mixer compliance with AML regulations. #CryptoNews
Stacks ($STX) surged 9% after the SEC concluded a three-year investigation into Hiro Systems, formerly Blockstack, without recommending enforcement action. This decision, following a similar outcome for Paxos, boosted market sentiment. $STX reached $1.71, marking a significant regulatory win for the crypto sector. #CryptoNews
Genesis Trading has moved 12,000 BTC to Coinbase amid its bankruptcy liquidation, following reorganization approval in May 2023. With 33,000 BTC remaining, valued at $1.9B, the $760M transaction raises concerns about Bitcoin price volatility, especially with other market pressures like Mt. Gox’s anticipated liquidations. #Bitcoin
Bitcoin ($BTC) and Ethereum ($ETH) may see significant moves as US CPI data is released today, possibly hinting at Fed rate cuts. BTC hit $57,084 after Mt. Gox turbulence; ETH gained 1.78% to $3,150. #CryptoNews
Mt. Gox will repay 138,000 $BTC, raising fears of a market crash. German Bitcoin liquidations have already spurred a downturn. Cycle Capital warns a swift release could lead to panic selling. However, $16B from FTX repayments might stabilize prices. #CryptoUpdate
The SEC has closed its investigation into Paxos’ $BUSD stablecoin, opting not to pursue enforcement actions. The NYDFS had earlier classified BUSD as a security, but Paxos continued supporting withdrawals. Former CFTC Chairman Giancarlo joins Paxos’ board. #CryptoRegulation
OM, the native token of the DeFi platform Mantra, surged 19% to $1.13, topping the crypto market. Its trading volume soared 900% to $311M, with an 8% gain in 24 hours. OM’s market cap is now $849M, ranking 82nd among cryptocurrencies. #Crypto
Kristen Smith, CEO of the Blockchain Association, and Sheila Warren, CEO of the Crypto Council for Innovation, discuss bipartisan support for crypto post-election. Both highlighted FIT21 Act backing and the need for the U.S. to stay competitive globally. One in five swing state voters find crypto crucial for the election. #CryptoRegulation
The U.S. SEC has eased crypto reporting rules for banks and brokerages, allowing them to exclude customers’ crypto holdings from balance sheets if they manage associated risks. This move aims to lower entry barriers and enhance market stability. #CryptoRegulation
Suspicious Bitcoin trades tied to Justin Sun (@justinsuntron), founder of Tron, are flagged by CryptoQuant’s Ki Young Ju. Sun’s $420M long trade on $BTC at $67K, backed by $460M in stUSDT, raises liquidity concerns at HTX Exchange with only $24M in reserves. #CryptoNews
