Crypto Exchange Bybit Exits Canada Citing Recent Regulatory Development
Bybit has announced that it will be exiting the Canadian market starting as soon as May 31 due to recent regulatory developments in the country, adding to several other exchanges that pulled out from the country.
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CFTC issues digital asset clearing warning; agency member calls for rulemaking
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Should Russia Bolster or Ban Bitcoin?
The country reportedly backed out of plans to build a “national crypto exchange,” its latest sign of indecision.
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2021 – The Year Bitcoin Became Salvadoran
When the bill was announced in July 2021, BTC was trading at around $30,000. When the bill became law in September 2021, it was trading around $45,000. By September 2022, a year after the law was enacted, it was below $20,000. Any discussion around El Salvador and adoption would be incomplete without acknowledging these price swings and the bitcoin bear market.
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ProShares’ Bitcoin Strategy ETF BITO Underperforms BTC Price by 13.8% This Year: K33 Research
The underperformance stems from the costs associated with the fund’s structure. BITO does not purchase tokens, instead it holds BTC futures contracts on the Chicago Mercantile Exchange (CME). The fund must roll over the contracts every month as they expire, making it vulnerable to the price difference between terms. If next month’s contract trades at a premium to the nearest expiry – a phenomenon called contango and typical during a bull market – over a sustainable period, the fund will compound losses due to the “contango bleed.”
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Texas Bill That Would Limit Crypto Miners’ Participation in Cost-Saving Grid Programs Stopped in House Committee
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Web3 Payments Firm Transak Raises $20M
The startup offers on- and off-ramps that could make it easier for new users to interact with Web3 projects.
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Former Coinbase Employee, U.S. SEC Settle Insider Trading Charges
“We allege that Ishan and Nikhil Wahi, respectively, tipped and traded securities based on material nonpublic information, and that’s insider trading, pure and simple,” he said. “The federal securities laws do not exempt crypto asset securities from the prohibition against insider trading, nor does the SEC. I am grateful to the SEC staff for successfully working to resolve this matter.”
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U.S. CFTC Warns About Clearing Derivatives Tied to Digital Assets
The derivatives regulator directly regulates crypto futures and has an enforcement reach into fraud and manipulation of spot markets for the trading of non-security crypto assets. It’s expected to have a wider future role as an industry watchdog, but bills that would enhance its authority haven’t yet moved through Congress.Â
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