SEC Gensler wants CEX, DEX to register; Bitcoin regaining dominance


Highlights in the cryptoverse for Sept. 14 include comments from Binance CEO Changpeng Zhao on the MiCA framework, SEC Chairman Gary Gensler reiterating his stance on most cryptocurrencies such as stocks and blocking Bitcoin wallets linked to a group of Iranian cybercriminals.

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Binance’s CZ says the European MiCA framework could be a global crypto regulatory standard

Binance CEO Changpeng Zhao spoke at Binance Blockchain Week on September 14, saying that the proposed regulatory framework in the EU – Market in Crypto Assets (MiCA) – was “fantastic” and could be a global standard for regulating cryptocurrencies.

The framework proposed by MiCA obliges cryptocurrency companies to apply for the same license to operate throughout the European Union. It also restricts access to dollar-backed stablecoins, which Zhao says would be the only thing that could change.

SEC Chairman Gensler Reiterates “Most Cryptocurrencies Are Securities” Before US Banking Committee

Securities and Exchange Commission (SEC) Chairman Gary Gensler said on Sept. 15 that crypto intermediaries, such as centralized and decentralized exchanges, should register with the SEC.

He said:

“Companies operating in other well-regulated markets that want to enter the cryptocurrency market (should) do so in accordance with time-tested investor protection rules, (while) existing cryptocurrency security intermediaries must do so in accordance with the investor protection rules too. “

Gensler reiterated his belief that most cryptocurrencies are stocks in his testimony before the US Senate Banking Commission.

The U.S. Department of the Treasury blacklists Bitcoin addresses linked to the Iran ransomware group

The US Treasury Department has detected seven Bitcoin wallets linked to members of Iran’s Islamic Revolutionary Guard Corps (IRGC). The IRGC has launched ransomware attacks against the United States since 2020.

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The wallet addresses were immediately blacklisted and up to $ 10 million in prizes were offered for any information leading to the arrest of the owners of these wallets.

LUNA loses 20% after South Korea issued an arrest warrant for Do Kwon

South Korea has issued an arrest warrant for the founder of Terra Luna Do Kwon, valid for one year. Luna dropped 20% as soon as the arrest warrant was issued.

The token has increased by 80% in the past seven days. However, how CryptoSlate data indicates, it fell 21.4% in the past 24 hours.

Dutch police arrest suspected Bitcoin thief by tracking transactions on blockchain

A 39-year-old man was arrested in the Netherlands on 6 September on suspicion of stealing tens of millions of dollars worth of Bitcoin. Although Dutch authorities only detained him for two days, the investigation revealed new information showing that the man was, in fact, guilty.

The 39-year-old thief was found to have laundered stolen Bitcoins through the Electrum wallet. Subsequently, he converted these funds into Monero (XMR) using the cryptocurrency exchange Bisq.

The New York museum plans to buy NFT from the proceeds of the art auctions

The New York Museum of Modern art (MoMA) is looking to buy NFTs from the William S Paley Foundation auction, according to The Wall Street newspaper. The auction will show approximately $ 70 million worth of art and NFTs.

The Foundation manages William Paley’s estate and the auction will include 29 of his 81 pieces at the museum, including Pablo Picasso’s “Guitar on a Table” and Francis Bacon’s “Three Studies for a Portrait of Henrietta Moraes”.

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Research highlighting

Research: Bitcoin could regain dominance over altcoins

Even as Bitcoin has lost market dominance to Ethereum and all of its altcoins, the signal from the altcoin cycle indicates that Bitcoin may begin to dominate Ethereum’s altcoins.

The altcoin cycle signal is a metric that determines the strength of the altcoin market and is ranked between 100. When it is below 50, it indicates Bitcoin’s dominance over altcoins. When it is above 50, it tells us that the altcoin season is upon us.

Altcoin cycle signal

The altcoin signal is currently at 79, which indicates that the market is in altcoin season. However, the signal dropped significantly during July and August, which could be a sign of an impending domination of Bitcoin.

News from all over the cryptoverse

Not investing in cryptocurrencies will be a career risk in the future

Apollo Capital CIO Henrik Andersson said the time will come when not investing in cryptocurrencies will be a “career risk,” according to CoinTelegraph.

Andersson said the adoption of cryptocurrencies is still in its infancy but has been gradually increasing.

EDX Market launch supported by financial giants

A group of broker-dealers, market makers and venture capital firms including Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial are supporting the new cryptocurrency exchange EDX Markets (EDXM).

EDXM said it will provide secure and compliant crypto trading through trusted intermediaries.

Cryptocurrency market

Bitcoin fell 2.06% and is trading for $ 19,845. Ethereum also recorded a drop of 0.66% to trade at $ 1,582.

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