News

U.S. SEC’s crypto guidelines push up costs for lenders, disrupting projects
U.S. SEC’s crypto guidelines push up costs for lenders, disrupting projects

By Hannah Lang and Michelle Price WASHINGTON (Reuters) – Banks’ cryptocurrency projects have been upended by U.S. Securities and Exchange Commission (SEC) accounting guidance that would make it too capital-intensive for lenders to hold crypto tokens on behalf of clients, according to more than half a dozen people with knowledge of the matter.

Sep 16, 2022
U.S. Senate to grill SEC’s Gensler over climate, China and crypto
U.S. Senate to grill SEC’s Gensler over climate, China and crypto

By Pete Schroeder and Michelle Price WASHINGTON (Reuters) – An aggressive regulator is critical to maintaining the United States as the “gold standard” for capital markets, U.S. Securities and Exchange Commission (SEC) chair Gary Gensler will tell the U.S. Senate Banking Committee on Thursday.

Sep 15, 2022
Explainer-Ethereum’s energy-saving Merge upgrade
Explainer-Ethereum’s energy-saving Merge upgrade

By Elizabeth Howcroft and Hannah Lang (Reuters) – Ethereum, the blockchain that underpins the world’s second-largest crypto token ether, on Thursday underwent a major software upgrade that slashes the amount of energy needed to create new coins and carry out transactions.

Sep 15, 2022
Ethereum blockchain has completed major software upgrade, co-founder says
Ethereum blockchain has completed major software upgrade, co-founder says

(Reuters) – A major software upgrade to the Ethereum blockchain aimed at drastically reducing its energy usage has been completed, Vitalik Buterin, Ethereum inventor and co-founder tweeted on Thursday. The upgrade, known as the “Merge”, will change how transactions on the Ethereum blockchain occur and how ether tokens, the second-largest crypto coin after bitcoin, are created. Under the change, Ethereum will move from a “proof of work” system, in which energy-hungry computers validate transactions by solving complex maths problems, to a “proof of stake” system, where individuals and companies act as validators, using their ether as collateral, to win newly created tokens.

Sep 15, 2022
Yen jumps vs dollar after BOJ rate check, hints on intervention, U.S. PPI data
Yen jumps vs dollar after BOJ rate check, hints on intervention, U.S. PPI data

By Kevin Buckland TOKYO (Reuters) – The dollar climbed close to a 24-year peak against the yen on Wednesday amid a jump in U.S. yields after hotter-than-expected inflation boosted bets for even more aggressive monetary tightening by the Federal Reserve next week.

Sep 14, 2022
Cryptoverse: Ether snaps at bitcoin’s heels in race for crypto crown
Cryptoverse: Ether snaps at bitcoin’s heels in race for crypto crown

By Medha Singh and Lisa Pauline Mattackal

Sep 13, 2022
Bank capital rules for cryptoassets due by year end
Bank capital rules for cryptoassets due by year end

LONDON (Reuters) – The global Basel Committee of banking regulators will complete work on “robust” rules for how banks must set aside capital to cover cryptoassets on their books, the committee’s oversight body said on Tuesday.

Sep 13, 2022
Brother of ex-Coinbase manager pleads guilty to insider trading charge
Brother of ex-Coinbase manager pleads guilty to insider trading charge

NEW YORK (Reuters) – The brother of a former Coinbase Global Inc product manager pleaded guilty on Monday to a wire fraud conspiracy charge in what U.S. prosecutors have called the first insider trading case involving cryptocurrency.

Sep 12, 2022
Ethereum blockchain to undergo major upgrade to cut energy use
Ethereum blockchain to undergo major upgrade to cut energy use

By Elizabeth Howcroft LONDON (Reuters) – A long-awaited software upgrade to the Ethereum blockchain aimed at slashing its huge energy consumption is expected this week, a move proponents say may widen the technology’s use and support the price of the ether token.

Sep 12, 2022
U.S. SEC to set up new office for crypto filings
U.S. SEC to set up new office for crypto filings

(Reuters) – The U.S. securities regulator will set up two new offices to deal with filings related to crypto assets and the life sciences sector, the agency said on Friday.

Sep 9, 2022
FTX Ventures plans to take 30% stake in Scaramucci’s SkyBridge Capital
FTX Ventures plans to take 30% stake in Scaramucci’s SkyBridge Capital

(Reuters) – FTX Ventures plans to scoop up a 30% stake in SkyBridge Capital, the companies said, making it the latest in a flurry of deals by cryptocurrency’s white knight Sam Bankman-Fried.

Sep 9, 2022
Bitcoin leaps above $21,000 as U.S. dollar sags
Bitcoin leaps above $21,000 as U.S. dollar sags

SINGAPORE (Reuters) – Bitcoin surged past the $20,000 barrier and was eyeing its best day in six weeks on Friday as the U.S. dollar fell broadly and markets found reasons to be cheerful at the end of a dour week.

Sep 9, 2022
Explainer-Understanding Ethereum’s major “Merge” upgrade
Explainer-Understanding Ethereum’s major “Merge” upgrade

By Hannah Lang (Reuters) – Ethereum, the blockchain that underpins the world’s second-largest crypto token ether, will soon undergo a major software upgrade that promises to slash the amount of energy needed to create new coins and carry out transactions.

Sep 9, 2022
Crypto intermediaries should register with U.S. SEC, agency chair says
Crypto intermediaries should register with U.S. SEC, agency chair says

By Michelle Price WASHINGTON (Reuters) – Companies that help facilitate transactions in the cryptocurrency market should register with the U.S. Securities and Exchange Commission (SEC) just like other market intermediaries, the agency’s chair said on Thursday.

Sep 8, 2022
U.S. seizes $30 million in crypto from North Korea-linked hackers
U.S. seizes $30 million in crypto from North Korea-linked hackers

(Reuters) – The United States has seized over $30 million in cryptocurrency stolen by North Korean-linked hackers Lazarus from the popular online game Axie Infinity, crypto intelligence firm Chainalysis said on Thursday.

Sep 8, 2022