[ad_1] A proposal to ban global cryptocurrency exchange Binance from operating in the Philippines will not gather steam due to a lack of regulations towards cryptocurrencies in the country.The Philippines’ Department of Trade and Industry (DTI) has cited no clear guidelines set out by the country’s central bank, Banko Sentral ng Pilipinas (BSP), as a dead-stop after a lobbying group called for the prohibition of Binance in early July.Local think
[ad_1] ING Group, Dutch multinational banking and financial services corporation, has spun out its digital asset business Pyctor to multi-asset trading infrastructure firm GMEX.GMEX has acquired ING’s institutional-grade digital asset custody solution Pyctor in a multi-million dollar deal, the companies said in a joint announcement on Monday.The Pyctor offering compliments GMEX’s MultiHub service, an institutional cross-platform business launched last year with the mission to bridge the gap between centralized finance
[ad_1] The European Central Bank (ECB) has released a report analyzing the growth of the cryptocurrency market over the past decade and the risks it poses to the existing financial system.A section of the report dedicated to stablecoins discussed the central role that it plays in the current ecosystem. Stablecoins are increasingly used to interlink various blockchain networks and play a critical role in offering liquidity to the decentralized finance (DeFi) ecosystem.The
[ad_1] The excitement surrounding Web3 is palpable — and undeniable. Projects are flooding into the space to build cutting-edge versions of the sites and apps served up by centralized Web2 rivals, covering every sector imaginable.But at this point, it's worth taking a step back and reflecting on the challenges that the Web3 world still needs to tackle. This technology isn't inherently private — and the transactions bouncing around on blockchains
[ad_1] Asset management firms continue to fight for a spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States as regulators remain skeptical of the idea.Craig Salm, chief legal officer at asset manager Grayscale, discussed the firm's lawsuit with the United States Securities and Exchanges Commission (SEC) regarding the conversion of the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF. Salm explained the basis for Grayscale’s argument against the SEC while answering
[ad_1] Bank of England (BoE) deputy governor for financial stability, Jon Cunliffe, recommended forming a set of regulations — similar to conventional financial systems — to tackle risks within the crypto ecosystem while improving investor confidence. Speaking at a press conference, Cunliffe highlighted the recent downfall of the Terra ecosystem, pointing out that cryptocurrencies that fail to maintain their value induce stress across crypto markets. He compared his idea for a crypto
[ad_1] Bitcoin (BTC) starts another week in a precarious position near $20,000 ahead of fresh macro upheaval.After admittedly sealing its best week's gains since March, the largest cryptocurrency is struggling to hold onto its recently-reclaimed levels.Major resistance zones remain overhead, and with inflation data due for release later in the week, the coming days could prove unnerving for risk-assets everywhere.At the same time, crypto market sentiment is showing signs of
[ad_1] Crypto exchange OKX has announced that it has made a deal with English Premier League (EPL) champions Manchester City to become the team’s training kit sponsor for the 2022-23 season. Despite the current bear market, it appears that crypto and sports partnerships have been going strong, with fellow EPL team Everton also recently signing a match kit sponsorship with crypto gambling firm Stake. At the same time, PSG has
[ad_1] Crypto lending platform Celsius has reportedly hired lawyers from Kirkland & Ellis LLP to advise on its restructuring options — the same firm that assisted Voyager Digital with its bankruptcy filing last week. According to a report from the Wall Street Journal on July 10, the company has hired lawyers to advise on options, including a bankruptcy filing in place of the previously hired law firm Akin Gump Strauss Hauer
[ad_1] More than 48 different crypto projects formerly based on the failed Terra ecosystem have found a resurgence by migrating over to Polygon. Polygon Studios CEO Ryan Wyatt expressed delight at his network’s ability to onboard many projects to the ecosystem in a July 9 tweet. He hinted that Polygon’s multimillion-dollar Terra Developer Fund has been effective in attracting the talent that was unexpectedly flung into limbo when Terra collapsed in
