“Payments giant Mastercard has agreed to buy CipherTrace, a firm that scans blockchains for illicit transactions. The surprise acquisition announced Thursday gives Mastercard the ability to track over 900 cryptocurrencies. Details of the acquisition were not disclosed.
The deal is the latest sign of robust activity in the crypto tracing sector as governments and banks look to ramp up monitoring and compliance.”
“The Securities and Exchange Commission (SEC) has once again delayed ruling on VanEck’s bid for a bitcoin exchange-traded fund (ETF). The U.S. regulator on Wednesday gave itself until Nov. 14 to approve or reject “VanEck Bitcoin Trust,” one of the earliest bitcoin ETF hopefuls to try its luck this filing cycle.
Unless it rules on one of the many other bitcoin ETF applications in the interim, Nov. 14 will yield a final answer on where VanEck’s offering stands.”
“The former CFTC chairman described the current rules for digital assets as anachronistic and unevenly enforced. His comments come in the wake of Coinbase’s revelation that the SEC threatened to sue the cryptocurrency exchange should it introduce a proposed savings account-like product.
It’s important for this new innovation that we don’t apply 90-year-old statutes, which is effectively what we have.
Ultimately, it will be the courts that will have to determine jurisdiction and apply the security laws to these asset classes, and I’m optimistic that Congress steps in. Congress in the last few months has really recognized crypto […] and has woken up to this technology and its power and potential.”
“Cryptocurrencies and risky traditional assets like stocks have been major beneficiaries of the liquidity-boosting asset-purchase programs launched by the ECB, Federal Reserve and other major central banks following the coronavirus-induced crash of March 2020. So any reduction in the pace of these “quantitative easing” programs, known as QE, might prove a headwind for the bitcoin market.
But the limited scope of the ECB’s latest move shows the level of caution monetary policy makers are taking as they unwind the approach.
The Governing Council judges that favorable financing conditions can be maintained with a moderately lower pace of net asset purchases.
The central bank said it will continue to conduct PEPP purchases in a total envelope of €1,850 billion until at least March 2022 – indicating that the overall size of the program hasn’t changed – while maintaining the deposit facility rate, main refinancing rate, and marginal lending facility rate unchanged at historically low levels of -0.5%, 0.00%, and -0.50%, respectively.”
“Balancer, a popular automated market maker, has today announced a strategic partnership with WSBDApp, the blockchain-based trading platform created by the WallStreetBets subreddit original founders.
The collaboration will see WSBDApp’s decentralized exchange-traded portfolios (ETPs) launched on Balancer V2 to ‘further expand the possibilities of DeFi and increase crypto exposure.’
Through its collaboration with Balancer, the WSBDApp is rolling out a community-selected basket of stablecoins backed by fiat money like the U.S. dollar, as well as tokenized commodities and cryptocurrencies. Users will be able to connect their WSBDApp wallets to a portfolio rebalanced with the help of the Balancer protocol and then use fiat money to purchase a token representing their holdings.
The ultimate goal was to turn decentralized ETPs into ‘an alternative to the kind of market manipulation perpetuated by opaque and politically connected banks and hedge funds.’“