BUSD: A case study for stablecoin compliance and security

BUSD: A case study for stablecoin compliance and security

Stablecoins have emerged as significant players in the crypto market this year, driven by user demand for flexible liquidity in fiat currency times. These currencies are defined as a type of digital currency that can be pegged to underlying real-world assets or backed by them. These assets can be anything from fiat money, commodities like gold or silver, or even another cryptocurrency. As their name suggests, stablecoins are designed to have a value that stays

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SEC chair compares stablecoins to casino poker chips

SEC chair compares stablecoins to casino poker chips

United St Securities and Commission, or SEC, chair Gary Gensler has doubled down on his “Wild West” analogy for cryptocurrencies, calling stablecoins instruments for gambling at old-timey casinos. Speaking to Washington Post columnist David Ignatius on Tuesday, Gensler said most projects in the crypto space dealt with securities that fall under the regulatory purview of the SEC, while the Commodity Futures Trading Commission, or CFTC, was better suited for enforcement for others. The SEC chair described

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Texas and New Jersey regulators go after Celsius Network

Texas and New Jersey regulators go after Celsius Network

The Texas State Securities Board has filed for a hearing with the potential to impose a cease and desist order against crypto lending firm Celsius Network for not offering a security licensed at the state or federal level, while the New Jersey Bureau of Securities has ordered the platform to stop offering and selling interest-earning cryptocurrency products.According to a Sept. 17 filing, the Texas regulator will be holding a hearing related to allegations Celsius Network

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Sen. Warren goes after Ethereum network fees in committee hearing

Sen. Warren goes after Ethereum network fees in committee hearing

Democratic Senator Elizabeth Warren, known by many as an outspoken cryptocurrency skeptic in the United States government, criticized outages at exchanges and high transaction fees during periods of price volatility.In a Tuesday hearing of the Senate Committee on Banking, Housing, and Urban Affairs with Securities and Exchange Commission chair Gary Gensler, Warren claimed the crypto industry had fallen short on providing solutions for financial inclusion in the United States. She mentioned the price drops among

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Banks vs. exchanges — regulators overwhelmingly penalize fiat, not crypto

Banks vs. exchanges — regulators overwhelmingly penalize fiat, not crypto

While regulators have often targeted projects in and out of the crypto space, the fines levied against digital asset exchanges are a fraction of those against traditional financial institutions.According to data from Good Jobs First’s violation tracker, the platform analyzed 50 of the biggest fines regulators levied against major banks, investment firms, and brokers over the last 20 years. Bank of America accrued roughly $82 billion covering 251 different fines including securities violations, while JPMorgan

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