Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
- In a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler, US Senator Elizabeth Warren said she needed answers from Gensler by July 28 on the SEC’s authority to protect consumers investing and trading in cryptocurrencies, and determine what future congressional action was needed, Reuters reported. (Learn more: ‘Knives Coming Out’ As Cryptoverse Responds To BTC FUD By US Senator)
- The European Union will propose a new agency to crack down on money laundering and new transparency rules for transfers of cryptoassets, Reuters reported, citing EU documents. The EU’s executive European Commission is proposing a new Anti-Money Laundering Authority (AMLA) that will become the “centerpiece” of an integrated supervisory system also made up of national authorities, it added.
- The SEC has extended its review of SkyBridge Capital’s application for a bitcoin (BTC) exchange-traded fund, according to a July 7 filing. The regulator has extended the initial 45-day review period to August 25.
- The Parliament of the Economic Community of West African States (ECOWAS Parliament) has expressed concerns over the use of cryptocurrencies in the subregion with regards to the risk factors involved, according to Leadership. While highlighting the prospects of cryptocurrencies facilitating investment in West African countries, they still warned that the sharp decline of bitcoin’s price over the past few weeks shows its volatility and inherent danger.
- Bank of America (BofA) created a new team dedicated to researching cryptoassets and technologies tied to digital currencies, Bloomberg reported, citing an internal memo. Alkesh Shah, who joined the bank in 2013 and previously led its global technology specialist team, will lead this new effort, it added.
- UK-based Santander Bank confirmed that starting today, they’ll be stopping payments from Santander accounts to Binance “wherever possible.” Per the bank, “this decision follows the [Finacial Conduct Authority (FCA)’s] recent warnings to consumers for Binance Markets Limited, and the wider Binance Group,” and “is to help protect you from fraud.” (Learn more: Barclays’ Binance Customers Looking for Alternative Apps, Banks & Countries)
- Meanwhile, per CNBC, the FCA’s crackdown on Binance has benefited a number of its rivals, including Bitstamp, Kraken, and Gemini. As of Tuesday, Bitstamp had seen its customers grow 138% since the FCA issued its notice about Binance on June 25, per the report. Kraken said that the percentage share of signups from the UK has approximately doubled in the last couple of weeks, compared to signups in Kraken’s other leading markets.
- Kazakhstan-based Eurasian Space Ventures (ESV) company has launched Biteeu, which aims to be the world’s first space crypto exchange, using the space technology of the SpaceX Falcon 9 rocket and in partnership with SpaceChain satellite network, per Astana Times. Biteeu’s main advantage is marketed as a daily backup of operational and clientele data in low earth orbit, it added.
- Gemini said it is looking to expand more into the Asia-Pacific region after a year of presence in Singapore. New office locations will include Australia and Hong Kong, but no specific dates have been set yet.
- Crypto asset platform Crypto.com has received an Electronic Money Institution (EMI) License from the Malta Financial Services Authority (MFSA), allowing it to issue cards and offer bank transfers directly to consumers. This makes the company the first crypto-related platform to receive this license.