New Republican digital asset framework introduces strict definitions for ‘decentralization’
Tuesday, June 6, 2023 1:16 PMRepublican lawmakers have revealed a proposed digital asset framework that would clarify the responsibilities of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in regulating the digital asset industry. “This discussion draft is a critical first step toward much-needed clarity for the digital asset ecosystem,” tweeted Rep. McHenry. This discussion draft is a critical first step toward much-needed clarity for the digital asset ecosystem. Decentralization has been the key question in any digital asset securities analysis, thanks to Howey, which is the test for determining whether a given asset offering is an investment contract and, therefore, a security. This question has been interpreted by regulators—including the SEC—as turning on whether a digital asset project is ‘decentralized’—which is a highly nebulous concept, if the time it has taken for regulators to clock on to the fact that most digital asset projects are in fact centralized is anything to go by.
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Cboe Digital Receives Approval to Launch Margin Futures on Bitcoin and Ether
Tuesday, June 6, 2023 1:03 PMIn addition to margin futures, Cboe Digital's spot market supports trading in Bitcoin, Bitcoin Cash, Ether, Litecoin and USDC. About Cboe Global Markets, Inc.Cboe Global Markets (Cboe: CBOE), a leading provider of market infrastructure and tradable products, delivers cutting-edge trading, clearing and investment solutions to market participants around the world. Cboe Digital Futures are offered through Cboe Digital Exchange, LLC, a CFTC registered DCM and Cboe Clear Digital, LLC, a CFTC registered DCO. Cboe Digital and the Cboe Digital logo are trademarks of the Cboe Global Markets Group of companies. CBOE-CCBOE-OECboe® and Cboe Global Markets® are registered trademarks and Cboe Digital TM and Cboe Clear Digital TM are service marks of Cboe Global Markets, Inc. and its subsidiaries.
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After Binance, SEC Sues Coinbase For 'Acting As Unregistered Broker'
Tuesday, June 6, 2023 12:51 PMA day after the Securities and Exchange Commission accused Binance BNB/USD of deceptive tactics, conflicts of interest and evasion of law, the regulatory watchdog sued Coinbase Global Inc. COIN in federal court in New York on Tuesday, alleging that it broke securities rules in the United States by acting as an unregistered broker. Slamming Coinbase's staking-as-a-service program, the SEC said it did not register its offers and sales of this staking program as required by law. “We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chair Gary Gensler. Also Read: SEC Lawsuit Against Binance Sends Bitcoin, Ethereum And BNB On A Roller Coaster Ride: Which One Will Prevail?
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Former Minnesota Vikings Owner Sentenced To 75 Months In Prison For $750M Crypto Scam
Tuesday, June 6, 2023 12:40 PMWhat Happened: Fowler, 64, is also sentenced to over six years in prison for defrauding the AAF, according to federal prosecutors. Authorities say Fowler lied to AAF executives about supporting the league, presenting the company with bank accounts that he claimed contained money from real estate investments. In reality, the bank accounts that Fowler presented to the AAF were used to illegally swap digital currencies for cash. It is unknown which cryptocurrencies Fowler used in his scam, leaving it unclear if he utilized popular options such as Bitcoin BTC/USD or Ethereum ETH/USD. Despite failing to acquire the Minnesota Vikings in 2005, Fowler later became a minority owner in 2014 until he ultimately lost his stake in the team.
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Microstrategy, Inc. Expands Partnership with Microsoft to Drive AI-Enabled Analytics
Tuesday, June 6, 2023 12:33 PMThe partnership will integrate MicroStrategy’s advanced analytics capabilities with Azure OpenAI Service to help businesses harness the full potential of their data. Through this partnership, MicroStrategy is further investing in and enhancing the artificial intelligence (AI) capabilities within its analytics platform, MicroStrategy ONE™. About MicroStrategy IncorporatedMicroStrategy (Nasdaq: MSTR) is the largest independent publicly traded analytics and business intelligence company. The MicroStrategy analytics platform is consistently rated as the best in enterprise analytics and is used by many of the world’s most admired brands in the Fortune Global 500. MicroStrategy and MicroStrategy ONE are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries.
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Elon Musk Twitter Spaces With Robert Kennedy Jr. Lacked Single Bitcoin Mention Amid Binance-SEC Legal Battle
Tuesday, June 6, 2023 12:18 PMElon Musk, CEO of Tesla and owner of the social media platform Twitter, on Monday, hosted a two-hour conversation with Robert F. Kennedy Jr, a Democratic presidential candidate and nephew of former President John F. Kennedy. Kennedy, who presented himself to potential voters as an outspoken advocate of Bitcoin BTC/USD, did not mention apex crypto during the discussion. What Happened: Musk and Kennedy spoke about other technology topics, including artificial intelligence, social media censorship, calls for AI regulations, and how COVID misinformation is handled on these platforms. Meanwhile, the Presidential candidate received an endorsement from Twitter co-founder and current CEO of fintech firm Block SQ Jack Dorsey, on Sunday. Read Next: Bitcoin, Ethereum, Dogecoin Tumble After SEC Lawsuit: Analyst Says Binance’s Success Is Key To Apex Crypto’s Survival
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The AUD is the strongest and the EUR is the weakest as the North American session begins
Tuesday, June 6, 2023 12:14 PMThe strongest to the weakest of the major currenciesThe AUD is the strongest and the EUR is the weakest as the North American session begins. The USD is mixed with gains versus the EUR, GBP and CHF and declines vs the CAD, AUD and NZD. The Reserve Bank of Australia surprised the market with a 25 basis point hike to 4.10%. In the statement by Phillip Lowe of the RBA, he said:High inflation makes life difficult for people and damages the functioning of the economy. The RBA remains alert to the risk of ongoing high inflation contributing to larger increases in prices and wages.
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