Crypto News
Experts Reveal How CFTC Lawsuit Won’t Interfere with Binance’s Acquisition of Voyager
On Monday, the Commodity Futures Trading Commission (CFTC) brought a lawsuit against Binance, the largest crypto exchange by trading volume, accusing it of violating trading and derivatives rules by allowing customers in the U.S. to illegally trade derivatives such as futures or swaps. This lawsuit could have an effect on Voyager’s ongoing bankruptcy case, however, legal experts believe the effect is likely to be muted. The lawsuit references Binance US multiple times, although it is not listed as a defendant. Binance maintains that it and Binance US are separate companies. Voyager is one of several crypto firms that collapsed last year, filing for Chapter 15 bankruptcy. The CFTC lawsuit is unlikely to disrupt Voyager’s deal with Binance US as any determination stemming from it will take time. Additionally, the CFTC lawsuit may not be applicable to the deal since Voyager and Binance US aren’t involved in derivatives trading. Lastly, other hurdles the deal faces still exist, and a report from Bernstein said the lawsuit could eventually force Binance to shutter its operations in the U.S., which may end up including Binance US. It is likely that the deal is already falling through, forcing Voyager to conduct an orderly liquidation instead. #Crypto #Binance #Voyager #CFTC #Lawsuit
You can read more about this topic here: Decrypt: CFTC Lawsuit Won’t Affect Binance’s Acquisition of Voyager, Experts Say
The post Experts Reveal How CFTC Lawsuit Won’t Interfere with Binance’s Acquisition of Voyager first appeared on Byte Syze Crypto.
Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.
This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.
#Huobi #HongKong #CryptoLicense #VASP #JustinSun
You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months
The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.
#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors
You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost
The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.
The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations
You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules
The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.
-
Crypto News1 week agoDiscover the Hidden Gems in AI Chip Business: Uncovering the Other Successful Companies Besides Nvidia
-
Crypto News1 week agoEthereum Devs Flocking to Bitcoin: How Ordinals is Paving the Way for Big Changes
-
Crypto News1 week agoUncovering the Truth: Ron DeSantis’s Campaign Didn’t Alter His Video With AI – Decrypt
-
Crypto News1 week agoDiscover How Visa, Microsoft and 12 Other Companies are Piloting Brazil’s CBDC Program
-
Crypto News1 week agoUncovering the Risks of DAOs & Self-Executing Contracts – Decrypt
-
Crypto News1 week agoBinance Launches Innovative Thai Crypto Exchange in Q4 2023: Get Ready for the Boom!
-
Crypto News7 days ago“How Much Can You Earn Playing Mobile Solitaire Games with Bitcoin? Discover Now!”
-
Crypto News1 week agoGemini Exchange Launches European Headquarters in Ireland – Crypto Boom Ahead?