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US Securities and Exchange Commission chair, Gary Gensler, advised crypto products offering returns to align with the law. He warned cryptocurrency platforms that 'somebody is going to get hurt' without safety measures. Gensler is confident that those cryptocurrency trading and lending platforms that promise returns to investors cannot evade the SEC law. However, he said that those crypto products offering returns to investors are wrong to think they can avoid the US Securities and Exchange Commission regulation. On Wednesday, the SEC…

Recently collected data shows Moderna (MRNA), a pharmaceuticals firm, outperformed bitcoin by 243.87%. The data came from a year-to-date basis based on Finbold's Bitcoin ROI tool. It also showed the role of the firm in the wake of the COVID-19 pandemic. The rising popularity of Bitcoin has put it in a position of competition with traditional stocks. However, despite the surging value of this cryptocurrency in 2021, select stocks from the conventional sector have outperformed the asset. The Coronavirus pandemic increased…

A vocal Pro-Crypto U.S Senator has called for further developments in the auditing of Stablecoins. Sen. Cynthia Lummis holds that the audit should go beyond the "proof" provided by the leading insurers. Senator said, "cash should fully back Stablecoins". But, again, there's a need to audit that condition regularly to ensure compliance by their providers. Lummis contributed to a Senate discussion on the potential for the U.S to develop. Its central bank digital currency (CBDC). She sounded alarmed over the…

SEBA bank announced it had become the first Swiss bank to get a digital assets custody license. However, this license limits the bank to provide crypto custodian services for institutions only. Switzerland Eyes Digital Banking FINMA has permitted SEBA to be the pioneer in the regulated crypto era in Switzerland. However, the license has conditions that it is only valid for nation-native institutional-grade investment projects. As per Guido Buehler, CEO of SEBA bank, his institution has been enjoying excellent business…

According to President Nayib Bukele, more than 2.1 million Salvadoran citizens are using the Chivo Bitcoin wallet. The mass adoption has more users than any bank in El Salvador. In approximately three weeks since parliament legalized Bitcoin in El Salvador, it has taken root in the economy. Bitcoin as a Legal Tender El Salvador is the smallest country in Central America but with a significant population. Earlier this year, it made history when it legalized Bitcoin as a legal tender…

Several big banks have announced today they are partnering with Marketnode for the Q4 of 2021. Citi, Barclays, BNP Paribas, BNY Mellon, HSBC, UOB, and Standard Chartered. Essentially, the banks are one the first adopters of the program. A Formidable Partnership Marketnode will co-create end-to-end DLT solutions and provide input for the development of the program. In addition, it will explore the expansion of the product beyond fixed income. DLT is a Distributed Ledger Technology digital system. This records the details of…

Orlando Bravo– private equity firm owner and multi-billionaire– is highly supportive of cryptocurrency. He recently discussed what makes the asset class so unique and why he has personally invested in Bitcoin. Bravo on Bitcoin: "I'm Very Bullish" Bravo expressed his faith in cryptocurrency in a recent interview with CNBC. He says that it's "absolutely" here to stay and praises it as a way to dodge high inflation and transaction fees. How could you not love crypto? Look at the movement. Aren’t…

Elon Musk says that the United States should do "nothing" to regulate the cryptocurrency sector– unlike China. He also suggests that crypto's advancement can merely be slowed but not "stopped" by governments. Elon Musk On China and Crypto Regulation The "Technoking" aired his thoughts in a recent interview at CodeCon 2021, an annual technology convention. The interviewer started by questioning Musk about China's recent re-ban on cryptocurrency in the country. He speculates that part of China's concern with Bitcoin could…

Ripple Labs remains one of the blockchain industry’s biggest companies. The company’s XRP coin is the industry standard for international payments. XRP has endured a bit of a challenging year. This is because the Securities and Exchange Commission (SEC) sued Ripple Labs for securities fraud. But, recent developments show some hope for the coin. It is worth noting that XRP has performed exceptionally well this year. The SEC suit against Ripple came last December, and the coin’s price went down.…