Altcoin News by Thebittimes.Com

The European Securities and Markets Authority (ESMA) has recently called for public feedback to help shape the criteria for classifying cryptocurrency assets as financial instruments. The latest move follows the European Parliament’s passage of the Markets in Crypto Assets (MiCA) regulations in August last year, marking a significant step in the regulation of the crypto market in Europe. #ESMA publishes 2⃣ Consultations Papers on guidelines under Markets in Crypto Assets Regulation #MiCA: on reverse solicitation on the classification of crypto-assets as financial instruments ️ Send your comments by 29 April 2024https://t.co/PEosx4t3UO pic.twitter.com/v31nWMUEcu — ESMA – EU Securities Markets Regulator (@ESMAComms) January 29, 2024 The ESMA’s request for input is part of an ongoing discussion about how to effectively regulate the burgeoning crypto industry in Europe. The authority highlighted the challenge of applying a standardized test to determine wh...

TrueUSD ( TUSD ), the Justin Sun -affiliated stablecoin, is currently experiencing a de-peg and trading below par on multiple centralized exchanges, including Binance, HTX, and KuCoin. This happened shortly after TrueUSD switched account ing firms from The Network Firm to Moore Hong Kong for its attestations.  TUSD is currently trading more than one cent below the peg on Binance. TrueUSD recently benefited from Binance adopting TUSD as one of its zero-fee trading pairs. The currency is currently trading more than one cent below the peg on Binance, both against other stablecoins like Tether (USDT) and other cryptocurrencies. This pattern is repeated in DeFi, with Curve currently showing that you’ll lose more than one cent exchanging TUSD for USDT.  Even on the Tron-based SunSwap, trading TUSD for USDT will result in you losing two pennies for each TUSD you swap. New attestations TrueUSD has switched from The Network Firm, started by former Armamino auditors, to the Hong K...

Vanguard Group, Inc. is one of the world’s largest investment firms , with $7.7 trillion in assets under management (AUM). The finance giant shocked the market by refusing to offer the recently approved Bitcoin ETFs to its brokerage’s customers. On January 11, Vanguard prevented its customers from gaining exposure to Bitcoin (BTC) through the now legally approved ETFs. As reported by The Block , a company’s spokesperson explained that crypto-related products do not align with its investment vision. “We also have no plans to offer Vanguard Bitcoin ETFs or other crypto-related products – our perspective is long-standing that cryptocurrencies’ high volatility runs counter to our goal of helping investors generate positive real returns over the long term.” — Vanguard’s spokesperson to The Block However, Finbold retrieved public data on CNN Business from the leading Bitcoin mining companies in the United States, which feature The Vanguard Group, Inc. as a major sharehol...

The Hong Kong Monetary Authority (HKMA) is taking a decisive stance against cryptocurrency-related companies that falsely present themselves as banks. Hong Kong cracks down on crypto businesses The HKMA has issued a stern warning to crypto currency-related firms that are misrepresenting themselves as banks or describing their products as deposits. According to HKMA, this action is seen as a contravention of the Banking Ordinance. HKMA has noticed some crypto businesses using terms like “ crypto bank,” “ crypto asset bank,” “digital asset bank,” “digital bank,” or “digital trading bank.” They also claim to offer “banking services” or “banking accounts”. Some even use the term “deposits” for funds placed with them by clients and promote “savings plans” as “low-risk” with “high returns.” The regulator reckons such descriptions can mislead the public ...