SEC objects to XRP holders aiding Ripple defense, moves to prohibit lawyer

The Securities and Exchange Commission (SEC) is attempting to block XRP holders from aiding in Ripple’s defense, and prohibit attorney John E. Deaton from any further participation in proceedings.  In its official objection submitted on July 19, the regulator opposed the decision to recognize 1,746 XRP holders as “amici curiae” along with attorney John E. Deaton. Amici (plural: amici curiae) means “friend of the court” — an individual or organization not a party to a legal case but is permitted to assist a court by providing information, expertise, or insights. …

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The EU moves to regulate the crypto-asset market

On the last day of June, the European Union reached an agreement on how to regulate the crypto-asset industry, giving the green light to Markets in Crypto-Assets (MiCA), the EU’s main legislative proposal to oversee the industry in its 27 member countries. A day earlier, on June 29, lawmakers in the member states of the European Parliament had already passed the Transfer of Funds Regulation (ToFR), which imposes compliance standards on crypto assets to crack down on money laundering risks in the sector.  Given this scenario, today we will further…

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Lido DAO price moves higher as the Ethereum Merge moves a step closer to completion

The upcoming Ethereum (ETH) Merge is one of the most talked about developments in the cryptocurrency ecosystem as the world’s second-largest cryptocurrency by market cap undergoes the difficult transition from proof-of-work (PoW) to proof-of-stake (PoS).  One protocol whose fate is largely tied to the successful completion of the Merge is Lido DAO (LDO), a liquid staking platform that allows users to tap into the value of their assets for use in decentralized finance and earn yield from staking. Data from Cointelegraph Markets Pro and TradingView shows that since LDO hit…

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dYdX moves to Cosmos-based blockchain for V4 to optimize decentralization and trading flow

On Thursday, crypto derivatives platform dYdX, which is currently built on Ethereum Layer 2, announced that it would be moving to a standalone blockchain based on the Cosmos SDK and Tendermint proof-of-stake consensus for its V4 update. The firm cites the Cosmos blockchain’s decentralization and performance as reasons for being a “best fit” for building dYdX for V4. Currently, the existing dYdX protocol processes about 10 trades per second and 1,000 order placements and cancellations per second, with the goal to scale to magnitudes higher. However, the firm says that…

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Crypto prices continue to tank, lawsuit takes aim at Binance.US, and Celsius moves $320M worth of digital assets: Hodler’s Digest, June 12-18

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week     Binance ends support for anonymous Litecoin transactions Binance has decided to ban Litecoin (LTC) transactions sent through the most recent MimbleWimble (MWEB) upgrade from its exchange, noting that such transactions would now result in the loss of the related LTC. Binance isn’t delisting…

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Ethereum price moves toward $2,000, but analysts say it’s just another ‘relief rally’

On May 30, the cryptocurrency market experienced a much-needed bounce that saw Bitcoin (BTC) climb above $30,900 and Ether (ETH) rally 5.84% to $1,930, but analysts warn that it could be too early to expect a reversal. ETH/USDT 1-day chart. Source: TradingView Here’s a look at what several analysts are saying about the outlook for Ether moving forward and the major support and resistance levels to keep an eye on. A bounce off of major support The May 30 bounce in Ether came as “no surprise” to market analyst and…

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Ethereum sell-off fears rise as crypto hedge fund moves $60M ETH to an exchange

Ethereum’s native token Ether (ETH) rose by more than 5% to reach its intraday high above $1,930 on May 30. Nonetheless, the ETH/USD pair risks facing another sell-off round due to concerns about a massive ETH inflow into an exchange. 58.7K Ether transferred to FTX in May On May 30, the Ether address allegedly associated with Three Arrow Capital — a Singapore-based crypto hedge fund, sent 32,000 ETH worth $60 million to the FTX crypto exchange within a span of an hour, on-chain data shows. The bulk transfer, which follows…

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Bitcoin Price Moves Higher In Range, $30.6K Still Presents Resistance

Bitcoin remained strong above the $28,500 support against the US Dollar. BTC is rising, but it must clear $28,500 to move into a positive zone. Bitcoin started a fresh increase after it tested the $28,500 support zone. The price is now trading above the $29,500 level and the 100 hourly simple moving average. There was break above a major bearish trend line with resistance near $29,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move higher towards the key $30,600 resistance…

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Crypto retirement plans get hot with Warren and Lummis making their moves, May 2–9, 2022

Retirement plans still largely remain at the periphery of both crypto adoption and the regulatory discussion. But last week, a major development emerged in this department. United States Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota became concerned about Fidelity’s recent announcement of adding Bitcoin (BTC) to its clients’ 401(k) retirement investment menu. In a letter to the company’s CEO Abigail Johnson, the lawmakers expressed their uneasiness over a “conflict of interests” and the “significant risks of fraud, theft and loss,” requesting from Fidelity a detailed outline of…

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