Regulation
Coinbase hits back at Warren claims that crypto regulation is being hijacked – DL News
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Coinbase is responding to a letter from Senator Elizabeth Warren accusing it of undermining attempts to regulate crypto. Political spending by the US crypto industry is increasing and Bitfinex researchers have a positive outlook for 2024. Keep reading!
Coinbase disputes Warren’s crypto accusations
Coinbase publicly refuted on December 18 letter from Senator Elizabeth Warren suggesting the company was hiring “former defense, national security and law enforcement officials” to undermine bipartisan efforts in Congress to properly regulate crypto at a time when it is used for illegal purposes, including the financing of terrorism.
Faryar Shirzad, chief policy officer at Coinbase, said in a statement job on
He added that Coinbase’s success “stems from hiring national security and law enforcement veterans who help us do everything we can to protect the American people.” Shirzad also published a copy of the letter he had sent a response to the senator and invited the Massachusetts Democrat to a briefing on the company’s efforts to combat terrorism financing.
Crypto Industry Increases US Political Spending
Crypto companies have increased their political spending in the United States as the mood in Washington has darkened following the high-profile FTX and Binance problems, increased scrutiny from the Securities and Exchange Commission and calls from Senator Elizabeth Warren and others to crack down on illegal crypto activity, the Financial Times reported.
Coinbase, Circle and a16z were among the companies that helped build a $78 million war chest for Fairshake, a super Pac that plans to spend to elect pro-crypto lawmakers and pass bills in Congress at the 2024 presidential election approaches, according to the report.
Policy recently reported that Coinbase had launched a grassroots advocacy campaign and that other pro-crypto super PACs were likely to organize.
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Bitfinex researchers are positive about the outlook for 2024
Bitfinex Researchers Have Positive Outlook for Bitcoin and Other Crypto Assets in 2024, As New report sees the total crypto market capitalization potentially doubling to $3.2 trillion.
Bitcoin mining activity will be significant in 2024 as it is a halving year and miners will need to manage their operations efficiently. The report also notes that in El Salvador, which made Bitcoin legal tender in 2022, its adoption continues to gradually increase.
Yellow card for applying for a license in Nigeria
Pan-African exchange Yellow Card Financial plans to apply for a license to operate in Nigeria after its central bank eased a 2021 ban on crypto to take a regulated approach, Bloomberg reported.
“You were waiting for something and it came true and we are immediately going to get there,” said Ogochukwu Umeokafor, director of product management at Yellow Card. Bloomberg during a telephone interview. “We want a regulated environment because it will help businesses scale; This will help people have more confidence in doing business with us.
Crypto professor joins Türkiye’s central bank panel
Fatma Ozkul, a professor and author at Marmara University specializing in accounting, crypto assets and blockchain technology, has been appointed to the rate-setting committee of Turkey’s central bank by President Recep Tayyip Erdogan, Bloomberg reported.
Ozkul has written numerous academic articles and a book on crypto asset accounting, according to his university. profile.
What we read on the web
Curve DAO accepts $44 million compensation for victims of July hack — DL News
BitMEX Founder Has Warning About One-Time ETF Approval — Crypto.News