Cryptocurrency exchange Coinbase is acquiring a minority stake in Circle Internet Financial, dissolving their partnership and bringing the stablecoin USD Coin fully in-house, while also adding native support for USDC on six additional blockchains, bringing the total to 15.
Coinbase receives approval for futures trading in the US and the SEC is considering approving an Ethereum ETF, signaling progress in the crypto industry.
Coinbase may be misrepresenting itself as an exchange and could be violating state money transmitter licenses, according to allegations made by ChainArgos' CEO and General Counsel. The company argues that Coinbase is legally an over-the-counter (OTC) broker rather than an exchange operator, and it may be in violation of its licenses with its Ethereum platform, Base.
Coinbase is in talks with major Canadian banks to gain support for the crypto industry in Canada as it faces regulatory uncertainty in its home country, aiming to have the banks participate in the crypto economy in the near future.
Summary: Coinbase and Circle have dissolved the Centre Consortium due to regulatory clarity issues surrounding stablecoins, with Coinbase taking an equity stake in Circle and Circle assuming enhanced responsibilities for the USD Coin (USDC) stablecoin; Binance.US partners with MoonPay to use Tether (USDT) as its new "base asset" for transactions, while Binance faces challenges with fiat withdrawals in Europe; Shopify now accepts USDC payments on its platform, and Solana Pay plans to add additional altcoins; China launches a blockchain-powered data exchange with over 300 participating enterprises.
Crypto-related stocks soar as the chances of fund companies offering Bitcoin ETFs increase, though Coinbase Global faces obstacles.
Coinbase CEO Brian Armstrong shared ten emerging ideas in the cryptocurrency space that excite him, including the creation of a CPI-linked stablecoin, on-chain reputation systems, on-chain advertising, and decentralized labor markets.
The crypto market analyst at Bloomberg Intelligence predicts that the unlocking of billions in capital flowing into US-based ETFs could make 2024 a significant year for digital assets despite the US Securities and Exchange Commission's stance on crypto.
BlackRock's entry into the crypto space with its application for a Bitcoin exchange-traded fund (ETF) marks a significant turning point that dispels the notion of cryptocurrencies as a passing trend, signaling the growing institutional interest in Bitcoin and the crypto industry.
The Securities and Exchange Commission (SEC) may have suffered setbacks in its regulation-by-enforcement approach to the cryptocurrency industry, with the latest ruling in favor of Grayscale Investments potentially paving the way for the emergence of a bitcoin spot exchange-traded fund (ETF); however, the SEC could appeal the decision or find new ways to deny similar applications, and the lack of a regulated exchange for the bitcoin spot market remains a challenge. Despite court challenges, SEC Chair Gary Gensler is expected to continue pursuing his regulation tactics, while Congress and a potential Republican president in 2024 may play a role in shaping the regulatory environment for digital assets.
Approval of a Bitcoin exchange-traded fund (ETF) in the United States could have a severe impact on major cryptocurrency exchanges, with ETFs offering advantages such as lower fees and the handling of digital assets and tax efficiency for consumers, according to Bloomberg analyst Eric Balchunas.
The lack of a fully regulated financial market in the US contradicts global economic interdependence, and as a result, the crypto industry is moving offshore rapidly; however, the US government is likely to eventually establish a clear regulatory framework and invest in blockchain R&D, thus strengthening the industry.
Coinbase has launched a crypto lending service for institutional investors in the US, aiming to capitalize on failures in the crypto lending market.
Crypto exchange Coinbase plans to focus on non-U.S. markets, including the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia, due to their clearer crypto laws, as it seeks to expand its operations and establish partnerships with global and local banks and payment providers while ensuring compliance with governance systems. The company also aims to intensify its lobbying and visibility efforts ahead of the EU elections and engage with the G20 to create global crypto standards.
Coinbase CEO Brian Armstrong discusses the company's base layer 2 blockchain network, interest in flatcoin, and the need for regulatory clarity in the crypto industry, suggesting that the courts, congress, and the CFTC could provide clarity and that there could be a new SEC chair in 2024.
Coinbase CEO Brian Armstrong predicts that cryptocurrencies will be a prominent topic in the 2024 US elections as the gap between current crypto policies and the needs of Americans becomes more apparent.
Coinbase CEO Brian Armstrong revealed in an interview that the exchange is interested in developing the next generation of stablecoins, including the concept of flatcoin, which would be backed by the Consumer Price Index (CPI) or purchasing power rather than a fiat currency.
Major cryptocurrencies declined as investors awaited regulatory developments, including the SEC's ruling on a Bitcoin ETF, while Coinbase revealed plans for international expansion and focus on obtaining licenses in key financial jurisdictions.
U.S. Securities and Exchange Commission Chair Gary Gensler continues to emphasize the importance of crypto companies complying with securities laws, despite recent setbacks in court cases against the industry. Gensler will discuss recent enforcement actions and proposals related to cryptocurrency firms but will avoid discussing ongoing litigation, including high-profile cases against Coinbase and Binance.
The market is underestimating the potential impact and value of Spot Bitcoin ETFs, with analysts arguing that approval would lead to significant financial inflows and buying pressure, and that it is a good time to enter the market and start building a crypto portfolio, despite regulatory challenges. Ethereum could also benefit from a futures-based ETF listing, but there is caution about the SEC potentially classifying ETH as a security. Overall, the global crypto adoption is dependent on market maturity, regulatory intervention, and consistent long-term adoption.
Coinbase CEO Brian Armstrong confirms that the crypto exchange will integrate the Lightning Network, a move that will significantly speed up bitcoin transactions and make it a more viable payment option.
Ethereum co-founder Joseph Lubin believes that the U.S. Securities and Exchange Commission's dispute with crypto firms over whether crypto tokens are considered securities will be resolved in favor of the industry, stating that "clear heads will prevail." He also expressed confidence that decentralized protocols, blockchain, and cryptocurrency align with the philosophies of the U.S. and that other countries will follow suit.
Coinbase CEO Brian Armstrong advocates for decentralized finance (DeFi) protocols and suggests legal action to establish a legal precedent, while MakerDAO's founder believes decentralized stablecoins could dominate the crypto market, and Polygon CEO acknowledges the success of their $1 billion investment in zero-knowledge proof rollups. Additionally, market surveillance firm Solidus Labs reveals that decentralized exchanges have become a hotspot for wash trading, and a DeFi advocacy group petitions to stop a patent troll from targeting DeFi protocols. Despite a mixed week for the top 100 DeFi tokens, the total value locked into DeFi protocols remains above $49 billion.
The introduction of a bitcoin ETF could increase accessibility, liquidity, and institutional adoption, potentially stabilizing prices and attracting capital from mainstream investors, similar to the impact of gold ETFs on the gold market.
Crypto analyst Will Clemente suggests that the US economy's need to issue more dollars to service its debt will inevitably lead to significant currency debasement, making Bitcoin the most promising asset for investors looking to protect their wealth. With the growing digital trend and a wave of Bitcoin adoption, Clemente believes that alternative monetary systems will become increasingly favorable.
Coinbase, the largest U.S. cryptocurrency exchange, is actively engaging with Ohio voters through events, ads, and lobbying efforts, highlighting the potential economic benefits of the crypto industry to the state. They are pushing for the passage of the FIT21 Act, which would provide regulatory clarity for cryptocurrency exchanges. However, the legislation's fate is uncertain, as there are differing opinions among lawmakers regarding crypto regulation.
The Federal Reserve's decision to maintain interest rates and raise its long-term forecast for the Federal Funds Rate surprised many market participants, causing a slight pullback in the stock and cryptocurrency markets while highlighting the need for investors to focus on the actual health and viability of companies and the utility of the crypto ecosystem. Additionally, the article speculates on the impact of the U.S. Securities and Exchange Commission's ruling on Bitcoin spot ETF applications and the potential for cryptocurrency to become a mainstream alternative investment.
Coinbase, the U.S. cryptocurrency exchange operator, may invest more elsewhere if the U.S. cannot get crypto regulation right, raising questions about whether the U.S. is still the primary hub for crypto innovation and development.
Ethereum co-creator Vitalik Buterin says that central bank digital currencies (CBDCs) have become "front ends" for the traditional banking system instead of being blockchain-friendly with transparency and privacy features, making them even less private and breaking down barriers against corporations and the government. He believes that Ethereum may be more resistant to government interference with its proof-of-stake consensus mechanism.
Coinbase CEO Brian Armstrong believes that the crypto industry needs to enhance its lobbying efforts before the 2024 elections in order to address the unfair regulatory environment faced by US-based crypto firms.
Cryptocurrency faces regulatory challenges that could shape its future, but despite these challenges, the industry holds promise with developments such as increased institutional adoption, central bank digital currencies (CBDCs), DeFi innovation, interoperability, and expected regulatory clarity.
Coinbase is looking to diversify its revenues, but for now, it remains heavily reliant on Bitcoin trading.
The departure of Binance.US CEO Brian Shroder, along with layoffs and a significant outflow of funds, highlights the ongoing issues of influence and trust in the cryptocurrency industry. Trust and regulation are key factors that crypto platforms need to address to gain the same level of trust as traditional banks.
Crypto exchange Coinbase has registered with the central bank of Spain, making it mandatory for the company to comply with anti-money laundering standards and paving the way for implementation of the European Union's MiCA regulation in 2024.
The U.S. SEC and Coinbase are in conflict over Celsius' request to use Coinbase as a distribution agent, with the SEC arguing that this would go beyond the scope of a distribution agent and involve brokerage and trading services; Coinbase's Chief Legal Officer questions why the SEC would object to a trusted US company taking on this role.
Concordium CEO Lars Seyer Christensen and other experts caution crypto investors to have realistic expectations for the next bull market, stating that it will be different from previous cycles, and not all digital assets will increase in value. Some investors, however, believe that the market is already turning bullish and recommend investing in Bitcoin, Ethereum, and tokens with practical use cases. The approval of a spot Bitcoin exchange-traded fund (ETF) in the US and an improvement in the macroeconomic situation are seen as potential catalysts for the next bull market.
Coinbase's blockchain, Base, has quickly become a major player in the Ethereum-based layer-2 chain space, hosting numerous decentralized projects and seeing a high volume of transactions and new addresses, with the goal of bringing a billion users on-chain within this decade. The company aims to drive mainstream adoption by reducing costs, improving user experience, and developing better identity infrastructure, and believes that blockchain technology is moving from a speculative phase to one focused on utility for everyday people.
Coinbase is leading a major lobbying effort in Washington D.C. to garner support for new regulations in the cryptocurrency industry.
Crypto exchange Coinbase has received approval from the Bermuda Monetary Authority to offer perpetual futures contracts to non-U.S. retail customers, a move that aligns with its strategy to collaborate with regulatory authorities and shape the global legal framework for cryptocurrencies.
Coinbase CEO Brian Armstrong criticizes JPMorgan Chase's decision to block crypto transactions at its U.K. digital banking subsidiary, calling for government regulation rather than banks de-platforming the industry.
Crypto investment firm CoinShares is optimistic about cryptocurrency regulation in the United States as it enters the market and believes that the US is a global leader in digital asset development.
Stablecoin issuer Circle argues that stablecoins tied to other assets shouldn't be subject to financial trading laws, intervening in the SEC's case against Binance. Valkyrie begins buying ETH futures contracts, becoming the first U.S. ETF to offer exposure to Ether and Bitcoin futures under one wrapper. Coinbase receives regulatory approval in Bermuda to list perpetual futures for users outside the U.S., following its acquisition of a license to operate a spot exchange in April. Addresses holding at least 0.1% of bitcoin's supply have seen strong net inflows throughout Q3, indicating growing interest from organic buyers.
Coinbase, the top US crypto exchange, is focusing on international markets due to regulatory uncertainty in the US and aims to bring a billion people into crypto.
