Crypto News
Coinbase Challenges CFTC Proposal, Advocates for Balanced Regulation of Event Contracts
Coinbase Chief Legal Officer Paul Grewal has raised concerns on social media regarding the Commodity Futures Trading Commission’s (CFTC) proposed rule to ban certain event contracts. Coinbase has also formally responded to the proposal, urging the CFTC to reconsider its stance, which the company argues could stifle innovation in the prediction markets. Coinbase Urges CFTCSource link
SEC Punts on Decision for Hashdex Combined Bitcoin and Ethereum ETF
Hashdex aims to launch a single spot ETF in the United States that tracks both Bitcoin and Ethereum, but the SEC isn't ready to make a call.Source link
Bloomberg’s Mike McGlone: Recession Fears Could Drive Gold to $3,000
In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased stock market volatility and global recession, particularly emphasizing economic challenges in China. He suggested thatSource link
Ripple Starts Testing Its New Stablecoin on Ethereum and XRP Ledger
The company moves forward with its Ripple USD (RLUSD) coin, but will still need regulatory approval for a full launch.Source link
Ripple Starts Beta Testing of USD-Pegged Stablecoin on XRP Ledger and Ethereum
Ripple Labs has initiated beta testing for ripple usd (RLUSD), a stablecoin pegged to the U.S. dollar, on both the XRP Ledger and Ethereum mainnets. The stablecoin is currently not available for public trading as it awaits regulatory approval. Ripple’s USD-Backed Stablecoin Enters Beta Phase Ripple usd or RLUSD, designed to maintain a 1:1 valueSource link