Altcoin News by Thebittimes.Com

The daily trading volume of all Hong Kong crypto exchange-traded funds averaged about $1.19 million between December and early February. According to a report published by the Hong Kong Stock Exchange (HKSE), two Bitcoin (BTC) exchange-traded funds (ETF) and an Ethereum (ETH) ETF listed on HKSE averaged 9.30 million Hong Kong dollars ($1.19 million) in daily trading volume from Dec. 16, 2022, to Feb. 7, 2023. As the first region in Asia to provide such access to crypto ETF products, Hong Kong exchange operators praised regulator clarity for its role in "seizing opportunities in virtual asset development." However, the numbers appear somewhat lukewarm when viewed in a global context. On Apr. 17, Cointelegraph reported that Bitcoin and Ether futures and options listed on the United States-based CME Group surpassed $3 billion in daily average notional value. Similarly, the ProShares Bitcoin Strategy ETF listed on NYSE Arca has an average daily volume of approximately $196 ...

As it stands today, BUSD's market cap has fallen by nearly $14 billion since its all-time high of $23.49 billion on Nov. 15, 2022. Binance USD (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange. BUSD’s marketcap has been on a steep downward trajectory since its all-time high (ATH) market cap of $23.49 billion on Nov. 15, just a few days after the shock collapse of FTX. As of today, the stablecoin’s marketcap has fallen to $9.66 billion — levels not seen since Jun. 29, 2021. Market cap of Binance USD (BUSD) over the last 12 months. Source: CoinGecko. Most recently, BUSD has been the subject of a potential lawsuit against Paxos by the United States Securities Exchange Commission (SEC) on Feb. 12 over a possible violation of investor protection laws. Since then SEC, $6.65 billion has been shaved off BUSD’s market cap. Paxos was also or...

The revision seeks to remove nonfungible tokens from Malta's Virtual Financial Assets Framework. The Malta Financial Services Authority (MFSA) is currently reviewing requests to revise the “ regulatory treatment” of Non-Fungible Tokens (NFTs) within its Virtual Financial Assets Framework.  Under the current regulatory framework, NFTs are included within the scope of the Virtual Financial Assets Act, which also includes virtual tokens, virtual financial assets, electronic money, and all financial instruments built, or dependent on, Distributed Ledger Technology (DLT). However, the MFSA is proposing to have NFTs removed from the Virtual Financial Assets framework since they’re unique and nonfungible and therefore incapable of being used as payments for goods and services, or for investment purposes.  According to the MFSA, “the inclusion of such assets within the scope of the VFA framework may run counter to the spirit of the Act, which sought to regulate investment-type services...