Cryptocurrency News Official TheBitTimes.com

Stablecoins, such as USDC, could face a complex situation if a new national defense bill approved by the US Senate becomes law. The 2024 National Defense Authorization Act could introduce new KYC and anti-money laundering requirements that stablecoin issuers won’t be able to comply with. Berenberg analyst Mark Palmer explained that the amendment would require the U.S. Treasury Secretary to “establish examination standards for crypto assets” to help regulators ensure compliance with money laundering and sanctions laws. Palmer added that the identities of the stablecoin holders can be known only when the stablecoins are issued and redeemed. He said the new KYC law could directly impact the value and market cap of stablecoins like USDC. You might also like: USDT market cap rises, USDC declines The act’s impact on Coinbase Palmer explained that the 2024 National Defense Authorization Act could impact Coinbase negatively. He said the exchange “derived...

Jeremy Allaire, the co-founder and CEO of Circle, expressed optimism about the potential approval of bitcoin exchange-traded funds (ETFs) during an interview at the World Economic Forum in Tianjin, China. Allaire believes that regulators’ previous concerns regarding bitcoin ETFs will soon be resolved, paving the way for authorized ETFs. He noted the progress in developing more mature market structures to support these financial instruments. Allaire told Bloomberg, “You have mature spot markets, well-regulated custody infrastructure, and good market surveillance.” He noted that many of the concerns raised in the past are now being addressed, increasing the likelihood of approval for general investor access to bitcoin ETFs. You might also like: Grayscale launches Funds Trust, files for three new crypto ETFs Prominent asset managers like BlackRock and Invesco have submitted applications to the Securities and Exchange Commission (SEC) for spot bitcoin ETF...

Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community. Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community, leading many to come back to crypto roots, reviving the Bitcoin white paper published just weeks after the Lehman Brothers meltdown in 2008.  It's truly amazing how many people are scared that a couple Banks went down. Someone tell these people WHY BITCOIN WAS CREATED. — Toby Cunningham (@sircryptotips) March 11, 2023 "There’s an entire generation of builders who only read about Lehman and the financial crisis and scoffed at Bitcoin. Now, their eyes are wide open. Welcome new friends," stated on Twitter Ryan Selkis, founder and CEO of Messari.  in shock that is all the SPEED at which all of this is happening is unbelievable — Meltem Demirors (@Melt_Dem) March 10, 2023 Approximately six weeks after the dramatic collapse of the...