Cryptocurrency News TheBitTimes.com

CFTC Commissioner Christy Goldsmith Romero has urged crypto companies to verify the digital identity of users, saying that Congress is considering new laws addressing anonymity and digital identity. A commissioner of the United States  Commodity Futures Trading Commission (CFTC), Christy Goldsmith Romero, has proposed reducing the anonymity of Cryptocurrencies as a means of managing the risks associated with digital assets. The statement was made during the keynote speech on Illicit Finance and Other Key Risks of Digital Finance at City Week 2023 in London on April 25. Romero stresses the need for governments and the industry to tackle the primary feature that makes cryptocurrencies appealing to illicit finance — anonymity. In her speech, Romero said that the risks associated with digital assets must be managed, as market integrity, national security and financial stability are crucial and cannot be compromised.  Reducing illicit finance risks in the cryptocurrency market requires ...

Security vs. not a security has always been an ongoing debate in the crypto ecosystem. With the multi-billion dollar crypto market growing, investors have been waiting on how various financial regulatory agencies will regulate it. In fact, at the heart of SEC’s lawsuit against Ripple, the matter of dispute remains to be the same. The agency filed a lawsuit against the blockchain payments firm back in December 2020. They argued that its native XRP tokens fell under the “ security ” category and not the “currency” category. On Tuesday, Gene Hoffman, the CCO of blockchain project Chia took to Twitter to state that PoW assets like Bitcoin, Litecoin, and Dogecoin are not sec urities, while the likes of Ethereum, XRP, Solana , and Cardano are. he explicitly tweeted, “BTC, LTC, DOGE, XCH not securities. ETH, XRP, FTT, SOL, AVAX, ADA always have been.” In fact, a couple of days back, when Ethereum founder Vitalik Buterin opined on what he...