FTX fall was ‘incredibly damaging,’ crypto must foster real utility: Ripple policy lead

Ripple’s APAC policy director said the collapse of FTX is exactly why crypto needs to move away from "hype cycles" and towards "real utility."



from Cointelegraph.com News https://ift.tt/RBanUuo
via IFTTT

Popular posts from this blog

Crypto Exec Warns Tokenization Is Moving Faster Than Expected

Image
According to a post shared on X by Keith Grossman, president of crypto payments firm MoonPay, finance is heading toward an onchain future that could unfold over several years. The view comes as large banks and asset managers begin product tokenization, a move that once seemed extreme but is now being treated as a practical step by major institutions. Regulatory Signals Push Institutions Forward Based on reports cited by Grossman, progress has accelerated because rules are becoming clearer. Legislative efforts, regulatory guidance, bank involvement and accounting standards are starting to line up. That combination reduces uncertainty, which is often what slows large pools of capital. BlackRock has already launched tokenized funds, while Franklin Templeton is running tokenized money market funds on public blockchains. Those actions suggest that tokenization is no longer confined to pilot labs or internal trials. It is being used with real assets and real clients. Bank of Ameri...
Read more

Bitcoin Mining Could Be Strengthening The Ruble, Russian Central Bank Says

Image
Bitcoin mining may be providing incremental support to the Russian ruble, Central Bank Governor Elvira Nabiullina said, while cautioning that the effect is difficult to measure because much of the sector still operates in a legal and reporting gray zone. Bitcoin Mining May Support The Ruble Responding to a question at a press conference, Nabiullina said it is “probably difficult to quantify” mining’s influence “because a significant part of mining is still in a gray area.” Still, she added that mining is “indeed one of the additional factors contributing to the strong ruble exchange rate.” As Russian business news portal for RBC reported , her remarks come as Russian officials increasingly frame mining and crypto flows as macro-relevant, not just a niche tech or energy story. Earlier, Maxim Oreshkin, deputy head of the presidential administration, said ruble forecasts have been thrown off by the underestimation of financial flows tied to mining and cryptocurrency. In his view, the s...
Read more

Nigerian SEC Partners With Police To Tackle Crypto Ponzi Schemes – Details

Image
The Nigerian Securities and Exchange Commission (SEC) is maintaining an intense focus on the local cryptocurrency industry, as indicated by recent developments. While introducing minimum capital requirements for previously unregulated virtual asset service providers (VASPs), the securities regulator has also formed an alliance with the Nigeria Police Force (NPF) against cryptocurrency fraud, among other illegal operations. Nigerian SEC Looks To Improve Crypto Investors’ Protection According to local media Voice of Nigeria , the SEC is ramping up efforts aimed at investor protection and transparent market operations in the crypto ecosystem. In a recent meeting with the NPF, the Commission’s Director-General (DG), Dr. Emomotimi Agama, communicated to the Inspector General of Police (IGP), Kayode Egbetokun, concerns over malicious actors in the financial markets who exploit investors’ trust for personal gains.  Dr. Agama said: They cloak their deceit in the glamorous but misunder...
Read more