The Hong Kong Monetary Authority (HKMA) warned its citizens that overseas crypto companies are misusing the word “bank” to improve their trust quotient.

On Nov. 15, Hong Kong’s central bank warned the public about crypto companies not licensed banks in Hong Kong making misrepresentations. The HKMA said that the crypto firms represent themselves as banks or use the term to describe their services and products. 

The central bank said that these acts are against the law. “Such acts may constitute

The European Banking Authority (EBA), Europe’s regulatory agency in charge of addressing weaknesses in Europe’s banking sector, published two sets of guidelines, including a specific guide for payment service providers (PSPs) and crypto-asset service providers (CASPs). 

On Nov. 14, the EBA released guidelines that specify what PSPs and CASPs must do to comply with the European Union’s and national restrictive measures regimes when transferring funds or crypto. According to the EBA, the guidelin

Major South Korea’s cryptocurrency exchange Upbit is reportedly suspected of massive breaches in Know Your Customer (KYC) procedures amid its local license renewal.

South Korea’s Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) has identified at least 500,000 to 600,000 potential KYC violations on the Upbit exchange, the local news agency Maeil Business Newspaper (MK) reported on Nov. 14.

The authority reportedly spotted alleged customer verification breaches while

Opinion by Hong Yea, Co-Founder and CEO of GRVT.

The position taken by some crypto industry experts on regulation and compliance in the decentralized finance (DeFi) space can be striking at times. Whether at conferences and on panels or attending more casual side events, I’ve heard peers and competitors argue that DeFi is already self-regulated and has overcome the need for regulation. Their argument is based on the valid point that DeFi logic is embedded in the blockchain. 

The logic, however

The Financial Stability Board (FSB), an international body that monitors and makes recommendations on the global financial system, published a paper analyzing the implications of artificial intelligence in financial services and how to mitigate potential risks. 

On Nov. 14, the FSB released a document titled “The Financial Stability Implications of artificial intelligence.” Within the paper, the FSB explored how AI can influence the existing financial systems and infrastructure globally. 

The

MicroStrategy founder and Bitcoin bull Michael Saylor has ruled out the chances of Bitcoin retracing to $60,000 — a crucial price level for the majority of 2024.

“I don’t think it is going to $60,000, it is not going to $30,000, I think it is going to go up from here,” Saylor told CNBC on Nov. 14. Bitcoin (BTC) is trading around $87,790, according to CoinMarketCap.

He said Donald Trump’s win “very decidedly” settled the future of crypto and Bitcoin in the United States, adding, “I don’t really

The founder of Ethereum software solutions provider Consensys, Joseph Lubin, has announced the launch of a new project called Network State where people can declare their “personal sovereignty.” 

“We’re on the verge of a paradigm shift that will be heard around the world,” said the Ethereum co-founder in a post on X unveiling the new platform on Nov. 14.

Lubin continued, stating that Consensys is “on a mission to catalyze a Network State within the emerging decentralized Web3 and AI global eco

Bitcoin (BTC) circled key local lows on Nov. 15 as bulls swapped all-time highs for support retests.

BTC/USD 1-hour chart. Source: TradingView

Bitcoin cools as US PPI sparks stagflation talk

Data from Cointelegraph Markets Pro and TradingView showed a BTC price dip below $87,000 into the daily close.

After notching new all-time highs on Nov. 13, $90,000 and above stayed out of reach as support as the market returned to consolidate lower.

The latest United States inflation data in the form o

United States-based spot Bitcoin and Ethereum exchange-traded funds (ETFs) bled on Thursday, ending a run of inflows since Donald Trump was elected president on Nov. 5. 

Farside Investors shows the 11 ETFs together posted a net outflow of $400.7 million on Nov. 14 as Bitcoin (BTC) saw a drop over the day and is down 2% over the last 24 hours at $88,200. 

The only two funds to see positive flows were BlackRock’s iShares Bitcoin Trust ETF (IBIT), which had $126.50 million worth of net inflows al

Consensys Ethereum validator node provider Infura says it’s made significant progress in its Decentralized Infrastructure Network (DIN), announcing plans to launch as an Actively Validated Service (AVS) on Ethereum restaking platform EigenLayer.

“By leaning on Ethereum’s economic security through EigenLayer, we continue to build on DIN’s steady progress creating a Web3 permissionless marketplace for infrastructure services,” said head of product for Infura DIN, Tom Hay, in an announcement made

Life sentence for Chinese official in crypto espionage case

A former Chinese government employee, identified as Wang Moumou (a placeholder name that translates to “so-and-so” used in China to anonymize individuals) has been sentenced to life imprisonment for selling state secrets to foreign intelligence agencies in exchange for 1 million yuan (about $138,000) in cryptocurrency payments.

Chinas Ministry of State Security said in a WeChat post that Wang racked up big losses and debts from his cr

Bitcoin’s record-breaking rise since the United States elections is expected to continue, and investment manager and fund issuer VanEck is targeting a price of $180,000 by sometime next year.

“It is just getting started,” VanEck’s head of digital assets research Matthew Sigel told CNBC’s “Squawk Box” on Nov. 14.

“We’re now in blue sky territory, no technical resistance, and we think we are likely to make repeated all-time highs over the next two quarters,” he added.

Bitcoin (BTC) has risen ab

Each month, our panel of crypto lawyers looks at the legal implications of some of the thorniest problems facing the industry in different jurisdictions around the world.

United States authorities have recently charged 18 individuals with cryptocurrency market manipulation following a Federal Bureau of Investigation (FBI) sting operation, in which law agents created a token to lure market makers into illegal wash trading. 

The case has sparked debate on the application of traditional financial

The Bitcoin market stumbled almost 3% after the United States Federal Reserve hinted that further interest rate cuts might not be coming, contrary to expectations from those in the crypto and wider financial market.

“The economy is not sending any signals that we need to be in a hurry to lower rates,” said Federal Reserve Chair Jerome Powell during a speech in Dallas, Texas, on Nov. 14. 

Powell’s statement comes after two recent rate cuts in September and November of 50 and 25 basis points, re

The ongoing legal battles between crypto firms and the United States securities regulator will likely fade away with Donald Trump reelected as the 47th president of the United States, Consensys CEO Joe Lubin said.

“So my guess is, in a way that is not embarrassing, they figure out ways to get the cases dismissed or settled, or something like that,” Lubin told Cointelegraph at DevCon 2024 in Thailand. 

Joe Lubin sits down with Cointelegraph’s Andrew Fenton. Source: Cointelegraph

“Maybe not all

Chris Giancarlo, the former Commodity Futures Trading Commission Chair, has squashed rumors that he’s in the mix to take over Gary Gensler as head of the Securities and Exchange Commission.

“I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess [at the CFTC] and don’t want to have [to] do it again,” Giancarlo, widely known as “Crypto Dad,” said in a Nov. 14 X post. 

Giancarlo was a CFTC commissioner between June 2014 and April 2019, joining a few months after Gensler left his

United States President-elect Donald Trump has announced his former chair of the Securities and Exchange Commission Jay Clayton will serve as US Attorney for the Southern District of New York.

Trump spoke highly of Clayton in the Nov. 14 announcement on social media platform Truth Social, noting that he has been a “highly respected business leader, counsel, and public servant.”

”Jay is going to be a strong Fighter for the Truth as we, Make America Great Again,” Trump said.

Source: Donald Trum

Bitcoin (BTC) traded down by 4.1% on Nov. 14 following US inflation data that marginally exceeded market expectations. This decline mirrored the S&P 500 index futures, which fell from 6,023 to 5,980 over four hours.

As a result, traders are now questioning the extent of this correlation and when Bitcoin’s inflation-hedging attributes might offer some protection in an environment of persistent inflation.

S&P 500 index futures (left) vs. Bitcoin/USD (right). Source: TradingView

While the Octobe

At the height of the COVID-19 pandemic, China plunged its economic capital, Shanghai, into a two-month lockdown in an attempt to outlast the virus — but it also wanted to eradicate any dissent regarding its zero-COVID policies, sparking one of Ethereum’s so-called “based rollups.”

“I lived in my apartment in the Shanghai COVID shutdown. I lived in my small apartment for almost three months without going out once,” Daniel Wang, co-founder and CEO of Taiko Labs — creator of the Ethereum layer 2 b

President-elect Donald Trump's transition team is considering current and former Commodity Futures Trading Commission (CFTC) officials to chair the financial regulatory agency, according to Reuters News.

The CFTC plays a crucial role in regulated cryptocurrency markets in the United States, second only to the Securities and Exchange Commission (SEC).

Summer Mersinger, a Republican CFTC commissioner who has urged the regulator to take a more accommodating stance on crypto, is among those under