There has been no shortage of news over the past few weeks when it comes to the US Securities and Exchange Commission (SEC) taking action against crypto exchanges and companies, from Kraken to Paxos, Terraform Labs up to Chairman Gary Gensler’s organization, it seems that coercion is in the air when it comes to the organization. In other news, South Sudan has reportedly banned U.S. dollar trading, and crypto-focused investment firm Pantera Capital says we are in the next bull cycle. All of this is just below in the latest Bitcoin.com Newsweek in Review.
Binance CEO Warns of “Significant Impact” on Crypto Industry if BUSD Ruled as Security
Binance CEO Changpeng Zhao (CZ) has warned of a “significant impact” on the crypto industry if the stablecoin Binance USD (BUSD) is ruled as a security. His warning follows an alleged U.S. Securities and Exchange Commission (SEC) lawsuit against Paxos, the issuer of Binance USD.
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[Opinion] Stiffing the Staker: the SEC’s latest crackdown on crypto innovation
The crypto world was rocked last week when the Securities and Exchange Commission (SEC) suspended Kraken’s staking program to satisfy Chairman Gary Gensler and his team. But what does this mean for cryptocurrencies and, more specifically, for the future of staking?
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Terraform Labs and CEO Do Kwon have been charged by the SEC with multi-billion dollar crypto fraud
The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated a “multi-billion dollar crypto asset securities fraud.” The securities watchdog alleged that Kwon raised billions of dollars from investors by creating “a series of interconnected crypto asset securities,” many of which involved unregistered transactions.
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Report South Sudan Government Bans US Dollar Trading
The government of South Sudan has reportedly banned U.S. dollar-based transactions and instructed all local payments to be settled in the local currency. The Salva Kiir Mayardit government reportedly wants all signed commercial contracts to also be based on local currency.
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Pantera Capital on Bitcoin: We’re in Next Bull Market Cycle
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Pantera Capital, a crypto-focused investment firm, says Bitcoin has seen its bottom and “we’re in the next bull market cycle.” Dan Morehead, the firm’s founder and managing partner, noted that ” Over the long term, the bitcoin price has been in a secular uptrend for the past 12 years, averaging 2.3x annually.”
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