Articles for tag: Cryptocurrencies

January 30, 2024

Ron Finklestien

`The Crypto Community Stands Firm Against FinCEN’s Proposed Mixer Rule

In October, the Financial Crimes Enforcement Network proposed a new regulatory regime for crypto mixing services that would treat the entire class of privacy tools as money laundering threats and force new recordkeeping rules on U.S. people or entities that use them. The industry had a chance to weigh in. Here’s the gist of their responses. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. The Story Unfolds In October, FinCEN published a notice of proposed rulemaking suggesting it might designate crypto mixers as primary

January 26, 2024

Ron Finklestien

The Quest for the Ideal Self-Custody Lightning Wallet in Zimbabwe

Anita Posch, a well-respected Bitcoin educator, and the author of the book “(L)earn Bitcoin”, embarked on her second test of self-custodial Lightning wallets in Zimbabwe, where very few Africans have engaged with the available options. The complexity of the Lightning infrastructure, especially the challenge of running a network node on a mobile app, has deterred widespread use and testing. As an educator, her focus lies in recommending reliable tools for everyday users who seek to make small payments without encountering any issues that would lead them to question the compatibility of Bitcoin with their needs. Posch has been using Lightning

January 24, 2024

Ron Finklestien

Deciphering the SEC’s Rulings on Cryptocurrency

As the legal battle between the U.S. Securities and Exchange Commission and prominent cryptocurrency platforms intensifies, a federal judge has raised a pivotal question – why isn’t there a cohesive regulatory framework governing the crypto sphere? State of Crypto, a CoinDesk newsletter exploring the convergence of cryptocurrency and government.Subscribe here for upcoming editions. Unveiling the Story The debate over the federal judiciary’s stance on crypto shows no sign of reaching a consensus. Judges are increasingly pointing out the absence of a unified regulatory approach to cryptocurrencies. Significance The validity of the U.S. Securities and Exchange Commission’s interpretation of how securities

January 23, 2024

Ron Finklestien

Is Grayscale Takeover Bait Amid Bitcoin ETF Battle?

Grayscale’s Bitcoin ETF Approval: A Potential Acquisition Target? The Bitcoin ETF Battle The financial world is abuzz with the forthcoming clash between established players in traditional finance and their crypto-native counterparts for dominance in the fast-evolving Bitcoin exchange-traded funds (ETFs) market. Grayscale’s Dominance Grayscale holds a commanding lead with $22 billion in assets, significantly outpacing its nearest competitors, BlackRock and Fidelity, at $1.4 billion. Its Grayscale Bitcoin Trust (GBTC) enjoys significant market recognition, dating back over a decade, giving it an edge in the ETF war. Potential Acquisition With the recent approval for conversion of its GBTC into an ETF,

January 19, 2024

Ron Finklestien

The SEC’s Ongoing Battle with Coinbase and Binance The SEC’s Ongoing Battle with Coinbase and Binance

Last summer, the U.S. Securities and Exchange Commission (SEC) filed lawsuits against two major crypto exchanges, Coinbase and Binance, alleging that the exchanges had listed and traded unregistered securities in the form of various cryptocurrencies. This week, the regulatory body’s legal teams faced the exchanges in court as the companies vehemently argued that the SEC had failed to prove that those cryptocurrencies should be classified as securities. You’re reading State of Crypto, a CoinDesk newsletter analyzing the convergence of cryptocurrency and government. Click here to subscribe for future editions. The Ongoing Saga There’s no rest for the weary: While last

January 10, 2024

Ron Finklestien

Decoding the Bitcoin ETF Drama | Nasdaq Decoding the Bitcoin ETF Drama

The crypto industry can breathe a sigh of relief: It looks like a federal U.S. regulator will let the world’s largest traditional finance asset managers and other firms list and trade shares of a vehicle giving retail and institutional investors exposure to the price of a decentralized, trustless, stateless digital asset (if you’re in the U.S.). But of course, thebitcoin exchangetraded fund (ETF) drama wouldn’t be complete without, well, drama. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative On Tuesday afternoon Eastern

January 4, 2024

Ron Finklestien

Will 2024 Be the Year of the Bitcoin ETF?

Is Bitcoin ETF Set to Soar in 2024? The Exciting Bitcoin ETF Narrative After several years of anticipation, the possibility of a spot bitcoin ETF is stirring up excitement among institutional and retail investors. This regulated financial product offers an easier avenue for investors to gain exposure to bitcoin’s price without directly investing in the asset. Implication of the SEC’s Deadline The U.S. Securities and Exchange Commission (SEC) faces a crucial deadline of January 10th, which is the final date for approving Ark 21 Shares’ application. This deadline carries significant weight, as it is also the last opportunity for the

January 4, 2024

Ron Finklestien

Bitcoin ETFs: Market Prepared for Potential Surge in BTC Trading Bitcoin ETFs: Market Prepared for Potential Surge in BTC Trading

A plethora of investment funds is on the verge of flooding the cryptocurrency market contingent on the expected approval of bitcoin ETFs from numerous firms by the U.S. Securities and Exchange Commission. This could open up the world of bitcoin [BTC] to virtually everyone, from crypto-savvy individuals to those new to the concept. ETF issuers such as BlackRock, Grayscale, Fidelity, and Galaxy/Invesco are facing the prospect of scrambling to procure tens of billions of dollars worth of BTC to meet the amplified demand anticipated from retail investors. The existing leading bitcoin investment vehicle, Grayscale Bitcoin Trust, commands a staggering $26

January 3, 2024

Ron Finklestien

Stablecoins Transforming Capital Markets Stablecoins Transforming Capital Markets

Lending markets have undergone a profound evolution, departing from traditional bank-centric structures and adopting a more diverse and technologically advanced ecosystem, especially since the Global Financial Crisis (GFC). This transformation is fundamentally reshaping the landscape of capital aggregation and distribution. Embracing Blockchain for Efficient Capital Flows The role of traditional banks in capital distribution has waned post-GFC, creating an opportunity for fintech lending firms such as SoFi and Ramp. These companies have introduced innovative solutions, including buy now, pay later (BNPL) options, by harnessing online platforms, data analytics, and machine learning. However, challenges like archaic payment systems and SME funding