Quick weekly news:
- Blockchain's potential: How AI can change the decentralized ledger: Read more here
- 72 of the top 100 coins have fallen 90% or more: Here are the holdouts: Read more here
- Elon Musk gets hit with ‘ridiculous’ $258B Dogecoin lawsuit: Read more here
Other notable events include:
- Hester Peirce questions the lack of legal certainty around Bitcoin ETFs
- As part of its foray into the Canadian market, FTX intends to buy crypto exchange Bitvo
Hester Peirce questions the lack of legal certainty around Bitcoin ETFs
Although the crypto industry is expanding, legislative certainty around the handling of digital assets remains elusive.
Commissioner Hester Peirce, dubbed the "crypto mom" by the US Securities and Exchange Commission (SEC), recently emphasized this in remarks at "The Regulatory Transparency Project Conference on Regulating the New Crypto Ecosystem: Necessary Regulation or Crippling Future Innovation?"
Peirce began her lecture by highlighting the need to "regulating the new crypto ecosystem." While this is true, Peirce also stated that the crypto business is still looking for a regulator. She stated:
“A bipartisan bill announced last week attempts to answer that question. Some people in the crypto industry are celebrating the allocation of certain authorities to the Commodity Futures Trading Commission (CFTC) instead of the Securities and Exchange Commission. This view is likely rooted in a disappointment that the SEC has not used more proactively the authorities it already has to sensibly regulate crypto.”
As part of its foray into the Canadian market, FTX intends to buy crypto exchange Bitvo
FTX Trading Limited said on Friday that it would buy Bitvo as part of the crypto exchange's drive to bring its products and services to Canadian users. The purchase is "subject to regulatory approval and customary closing conditions," according to the business, and is scheduled to conclude in the third quarter of 2022.
"We are delighted to enter the Canadian marketplace and continue to expand FTX's global reach,” said Sam Bankman-Fried, or SBF, the CEO of FTX. “Our expansion into Canada is another step in proactively working with cryptocurrency regulators in different geographies across the globe."
Also, make sure to check out the top altcoin gainers and losers of the week 👇🏼
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