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The Bank of England (BoE) and the Financial Conduct Authority (FCA) have requested feedback on new proposals to regulate stablecoins. The proposals are part of a more significant effort to regulate the entire crypto industry. However, given the Bank of England’s concerns that stable coins hold the potential to disrupt financial stability, it believes that handling this aspect of the crypto sector is of utmost importance. The BoE said: Payments systems using stablecoins, if widely used for retail payments in the UK, could pose risks to financial stability. The FCA and BOE Publish Separate Papers On Stablecoinss The proposals emerged in two discussion papers issued by the Bank of England and FCA. The bank’s paper suggests regulating not only operators of systemic payment systems that use stable coins , but also wallet providers and stablecoin issuers. The bank’s Deputy Governor for Financial Stability, Sarah Breeden, said that the proposals aim to support safe in...

Bitcoin price may surge 74.1% to more than $59K during the first year after spot Bitcoin ETFs (exchange-traded funds) are approved in the US, says crypto investment firm Galaxy Digital. Inflows of $14 billion are likely in the first year, ramping up to $27 billion in the second year and $39 billion the year after, said research associate Charles Yu. He sees Bitcoin price rising 6% in the first month before monthly gains are pared to about 3.7% by the last month of the first year. Approval for a US-regulated spot #Bitcoin ETF will be one of the most impactful catalysts for the adoption of Bitcoin. In our latest report, we estimate potential new incremental inflows into Bitcoin investment products ranging from ~$125bn to ~$450bn: https://t.co/1FCl7rpv1E — Galaxy (@galaxyhq) October 24, 2023 Yu further predicts that the US Bitcoin ETF market size will grow to $26.5 trillion during the second year after an ETF launches, and increase to $39.6 trillion after the third year. Bes...

Ripple published a new job listing for a senior manager of shareholder communications, sparking speculation it may be preparing to go public. BREAKING 🚨🚨 #Ripple Is Getting Ready For IPO. #XRPHolders #XRPCommunity pic.twitter.com/Orhn5dWyxN — XRP CAPTAIN (@UniverseTwenty) October 16, 2023 Making the announcement on its website’s career page, Ripple described the role’s responsibilities as including communication with the company’s shareholders and investors, a task that is mainly carried out in publicly traded companies.   “With the CFO and other senior leaders, build and maintain meaningful relationships with analysts, and educate existing and prospective shareholders and investors on the company’s product/business strategy and goals, performance, financial position, and announcements,” Ripple wrote in the job advertisement.  The ad reaches out to candidates in New York City, Miami, and London.  If ...

Hong Kong’s security minister said the city’s police are bent on finding the mastermind behind the alleged HK$1.5 billion ($192 million) fraud at crypto exchange JPEX. The case, one of the city’s biggest ever financial frauds, involves 2,392 victims, while police have arrested 12 suspects and seized cash and assets worth more than HK$85 million, Secretary for Security Chris Tang Ping-Keung said at a press briefing. “Police are doing their best to locate the whereabouts of the leader of the platform,” he said. “This is definitely a major factor in their investigation. We will by all means hold the culprits accountable for their crimes.” Hong Kong govt vows to locate the leaders of JPEX, the crypto exchange that has become the target of fraud investigation. But no one, it appears, knows who they are — ekin (@eking0x) September 27, 2023 The security chief said his ministry and and law enforcement agencies are working closely with the ...

Crypto fund managers are poised to see assets under management surge as much as 13-fold in the next five years as the approval of spot crypto exchange traded funds (ETFs) fuels exponential growth. That’s the view of research firm Bernstein, which says the crypto fund management industry is on the cusp of a transformation from a “cottage industry’’ into a sector with $50 billion in revenues over the period. “Crypto financial adoption follows hype cycles, and we expect a hockey stick adoption,”  said Bernstein analysts led by Gautam Chhugani, referring to the shape of the growth trajectory. They added that 2024 will be ”the landmark regulatory year for approval of ETFs.” In the next 5 years, the capital in crypto funds may increase from $50 billion to $650 billion according to Bernstein analysts. Are you bullish yet? — Whale (@WhaleChart) September 26, 2023 Bernstein’s  prediction comes hard on the heels of appl...

Farfetch, a digital luxury fashion platform, has announced plans to start accepting cryptocurrency payments. The company is targeting cryptocurrency users, and it will start by accepting seven cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB). Farfetch endorses crypto According to a Marketwatch report, the British-Portuguese luxury brand would introduce cryptocurrency payments to private clients over the coming months. The digital currency payments would be expanded to US, UK, and Europe customers. The company also said that other countries would be included in these plans. The company will make cryptocurrency payments possible through a partnership with Lunu, a cryptocurrency exchange platform based in Germany. The partnership will provide point-of-sale terminals that will support in-store transactions. These terminals will allow customers to access cryptocurrency wallets and make payments by scanning a QR code. Buy Bitcoin Now Your capital is ...

Join Our Telegram channel to stay up to date on breaking news coverage Ethereum co-founder Vitalik Buterin confirmed that the hacking of his X account was executed through a sim-swap attack that took over his mobile phone number and accessed his account. Following the compromise of his X account on September 9, Buterin took to the decentralized social media network Warpcast on September 12 to address the issue. He said he had finally regained control of his T-Mobile account after he lost it to the attack. “Finally got back my T-mobile account (yes, it was a sim swap, meaning that someone socially engineered T-mobile itself to take over my phone number),” he wrote. The compromise of the X account was made public by Dmitry Buterin, Vitalik’s father, who stated that his son was actively trying to regain control of the account. During that time, scammers posted a phishing link accompanied by a false message that announced the release of a commemorative NFT by Con...

After the very strong OGN/USD bearish move between the 17th to 20th of August, the bulls began to show some signs of resistance towards regaining their ground in the market. Then on the 21st of August, the bears could not go any further as the bull push the price up, but they later ended the day by closing the price at the previous day’s opening price . The bearish activities on the 22nd form resistance at $ 0.186752. on the 23rd and 24th, we can notice that there was a space between the two candlesticks that represents the two trading sessions . That signifies that the bulls are getting stronger. Origin Protocol Price Statistic: OGN price now: $0.1916 OGN market cap: $74,452,752 OGN circulating supply: 388,570,733OGN OGN total supply: 1,000,000,000 OGN coin market ranking: #303 Key Levels Resistance: $0.20000, $0.210000, $0.220000 Support: $0.18414548, $0.18199217 $0.18108551 Buy Origin Protocol Now Your capital is at risk Origin Protocol Price Analysis: ...

Regulatory agencies in Singapore are looking to deter retail traders from investing in the cryptocurrency market. The regulators are tightening their noose over the sector following the rapid growth it has recorded in recent years. Singapore plans to tame retail crypto trading On Monday, the managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, said in a seminar that the agency was considering creating friction on retail access to cryptocurrency assets. The MAS said that some actions that could be taken to achieve this include conducting tests on customer suitability and restricting the use of leverage and credit facilities for trading crypto assets. The official also said that retail investors were “irrationally oblivious” of the risks associated with trading cryptocurrencies . in January this year, the MAS provided guidelines to restrict crypto companies from promoting services to the public. The restrictions were aimed at protecting retail...

Join Our Telegram channel to stay up to date on breaking news coverage Prior minister of finance Nadhim Zahawi was a member of a division that suggested endorse for distributed ledger technology last year while representing the deputy of state for economy, power, and manufacturing strategy. Liz Truss, the newly appointed Conservative Party Leader or Prime Minister of the United Kingdom, has named Kwasi Kwarteng the chancellor of the exchequer or finance minister . Truss’ department designated Kwarteng as the next UK minister of finance in a Tuesday official statement, substituting Nadhim Zahawi. The latter worked as chancellor of the exchequer for the last three months after Rishi Sunak’s withdrawal last July. Kwarteng would have been most lately the Secretary of State for Business, Energy, and Industrial Strategy in the United Kingdom, furthermore, being a Member of Parliament as of 2010. Kwarteng, a Truss political ally, has stated that her current regime can man...

Join Our Telegram channel to stay up to date on breaking news coverage Large purchases of more than $80,000 worth of Ethereum were made out of fear of missing out in the last days of the Tamadoge presale over the weekend. A member on the Discord channel that belongs to the cryptocurrency trader Jacob Bury highlighted a TAMA buy on Etherscan for 55.8 ETH and another one for 40 ETH not long before. Tamadoge pre-sale End before Time As Jacob mentioned on YouTube, the presale of Tamadoge tokens has a hard cap of 19 million USDT. Compared to Ethereum’s ICO in 2014 and STEPN’s ICO in 2022, this was a significantly larger sum. Listings for Tamadoge have been publicly disclosed on LBank and Uniswap DEX; it is anticipated that more CEX listings are now in the conceptual phase. What Next? On September 20, the project will announce how investors who participated in the presale may reclaim their TAMA tokens. This information will be shared in a Telegram channel that now...

Russian media and communications regulator, Roskomnadzor, has restricted access to the website of a major cryptocurrency exchange, Okx. The trading platform was one of those that did not restrict access for Russians amid sanctions that affected the industry&#x2019 ;s business in Russia. Okx Blacklisted on Request From Russian Prosecutor’s Office for Disseminating Banned Information Russia’s Federal Service for Supervision of Communications, Information Technology and Mass Media, also known as Roskomnadzor, has added this week the domain name of crypto exchange Okx to its list of sites containing information, the distribution of which is prohibited in the Russian Federation. The move follows a decision by the Russian Prosecutor General’s Office. The Seychelles-based company is among the few leading coin trading platforms that did not introduce restrictions for Russian users despite mounting Western sanctions imposed over Russia’s military invasion of Ukrai...

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Join Our Telegram channel to stay up to date on breaking news coverage Binance CEO Changpeng Zhao lashed out at negative news and rumours about the world’s biggest cryptocurrency exchange, dismissing them as “FUD” and providing an assurance that the company has no liquidity issues. His comments on the social medial platform X come as an exodus of top executives from the firm gathers pace, with four departures this week bringing the total to 10 since July. Lawsuits brought against the firm, its exits from some markets and product closures also are behind the ‘FUD,’ he said. Saw some debates in the community. When you do the right thing, and there is FUD, you don't have to do anything. The community defends you. Let me summarize. There have been a lot of negative news/rumors, bank runs, lawsuits, closing of fiat channels, product wind downs,… — CZ 🔶 Binance (@cz_binance) September 7, 2023   Zhao didn’t address th...