Crypto Asset Classification: CFTC Chair vs. Former Commissioner
On crypto classification, ex-CFTC Commissioner Dan Berkowitz speaks on cryptocurrency community Asset Status. Gary Gensler, chairman of the Securities and Exchange Commission, believes all are securities with investment contracts. Using Ethereum as an example, he stated there is a “special case” where something can be both. “It can be a commodity under the CEA [Commodity […]
The Role Of Cryptocurrency In Developing Countries
Cryptocurrencies have the potential to spur sustainable development, empower individuals, and alter the socioeconomic climate in developing nations with careful design and implementation. What is a Cryptocurrency? Cryptocurrency is a digital or virtual currency that uses cryptography to protect transactions. Cryptocurrencies don’t have tangible counterparts like coins or banknotes because they only exist in digital […]
Crypto Fuels Fentanyl Ingredient Trade In China
An Elliptic report revealed that Chinese chemical manufacturers accept cryptocurrencies for fentanyl precursors and have received over $27 million in crypto payments. Doctors legally prescribe fentanyl for severe pain, but illegal producers and sellers also offer it as a recreational drug. Fentanyl is highly addictive and can cause fatal overdoses. Most of the fentanyl trafficked […]
Warnings Lifted: KAVA, WAVES Trading Resumes in Korea
KAVA and WAVES, two cryptocurrencies linked to stablecoins been removed from the South Korean exchanges’ warning list, and their deposit services have been restored. DAXA , a self-regulatory organization for South Korean exchanges, designated KAVA and WAVES as warning items due to their unstable stablecoins USDX and USDN. However, the exchanges have resolved the risk […]
Ledger CEO Downplays Subpoena Risk for Crypto Wallet Users
Ledger CEO Pascal Gauthier says that the company’s new Recover service, which allows users to backup their seed phrases with third parties, is unlikely to expose them to government subpoenas. About Ledger Recover Ledger, a leading provider of hardware wallets for cryptocurrencies, has recently launched a new service called Ledger Recover, which enables users to […]