Circle Cancels SPAC Merger With Concord
Circle and special purpose acquisition company, Concord Acquisition announced that the two companies mutually ended a merger. The agreement, which had an initial valuation of $4.5 billion when it was disclosed in July 2021, was later revised in February 2022 after Circle’s valuation increased to $9 billion. At the moment, USDC is the second-largest stablecoin […]
Malta Seeks To Remove NFTs From Crypto Law
Malta Financial Services Authority said its wants to remove service providers for NFTs from the scope of its 2018 virtual assets law. The Virtual Financial Assets Act, which also covers electronic money, virtual tokens, virtual financial assets, and all financial instruments based on Distributed Ledger Technology, is now the regulatory framework that applies to NFTs. […]
Crypto exchange Swyftx cuts down staff size by 40%
Australian crypto exchange Swyftx has reduced its workforce by 40% announcing the layoffs of a total of 90 employees in anticipation of the “worst-case scenario” that might result from the impact of FTX collapse. Swyftx co-CEO Alex Harper announced the information in a statement on December 5 and said that, although having no exposure to […]
Pakistan signs new laws ahead of CBDC launch in 2025
In preparation for a Central Bank Digital Currency (CBDC) by the year 2025, the State Bank of Pakistan (SBP) has signed in new laws for Electronic Money Institutions, and non-bank entities offering digital payment instruments. Central bank digital currencies (CBDCs), which inherit the financial prowess of the technology that fuels cryptocurrencies, are seen by regulators […]
Ripple files final submission in its case against SEC
After a two-year legal struggle, the prominent crypto case between Ripple and the US Securities and Exchange Commission (SEC) is coming to an end as Ripple filed its final submission against the US regulator on Dec. 2. The SEC and Ripple each submitted a redacted reply to the other’s objection to a move for summary […]