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Bitcoin Futures Helped Market Reach ‘Sustainable Level’: CFTC Chief

When derivatives exchanges CBOE and CME launched the first regulated U.S. bitcoin futures contracts, many cryptocurrency bulls thought that this event would lead to a wave of institutional investment and propel the market toward even greater highs. Just days later, the yearlong bitcoin price rally stalled, and the flagship cryptocurrency — followed soon after by the wider market — entered ...

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BitMEX Taps Former Hong Kong Regulator as Chief Operating Officer

BitMEX, one of the largest cryptocurrency trading platforms, has named Angelina Kwan, formerly managing director and head of regulatory compliance for Hong Kong Exchanges and Clearing Limited (HKEX), as its chief operating officer. Kwan, who joins the company as it rides exceptional growth, will work with regulators worldwide to develop rules that will support cryptocurrency’s continued growth. 24 Years of ...

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BitMEX Appoints Hong Kong Regulator to Position of Chief Operating Officer

In an effort to help them navigate the global regulatory landscape, BitMEX, one of the planet’s largest cryptocurrency exchanges, has appointed Angelina Kwan to the position of chief operating officer. Kwan is something of a veteran in the Hong Kong financial regulation space. Regulatory Expert Angelina Kwan Drafted into the BitMEX Team BitMEX has become the latest in a slew ...

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Federal Reserve Chief Says Crypto is Not Used; Evidence of Activity

Jerome Powell, the chairman of the Federal Reserve, has reportedly argued about the validity of crypto as payment tools. According to the Russian Market, which first reported the statement, the FED chairman said that crypto “almost” didn’t get accepted for payments by merchants. There was no evidence that could validate Powell’s comment, but it somewhat echoed similar tones the FED chief ...

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Fmr. Huobi US Compliance Chief Talks NY Crypto Exchange Report

Harry Zhou, former general counsel and compliance officer for Huobi US, spoke with CCN about the latest report from New York’s attorney general on cryptocurrency exchanges. Zhou helped set up the legal framework in New York for cryptocurrency exchanges, namely the application and regulations for the BitLicense. He represented Huobi for comments on the BitLicense proposal and is a leading expert ...

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Coinbase Hires Former Fannie Mae Exec as New Chief Legal Officer

Cryptocurrency exchange Coinbase has hired on former Fannie Mae General Counsel Brian Brooks as their new Chief Legal Officer, according to an announcement published September 19. At Coinbase, Brooks will be responsible for legal, compliance, and government affairs. Prior to Coinbase, Brooks served as Executive Vice President, General Counsel and Corporate Secretary of the U.S. Federal National Mortgage Association (FNMA), ...

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GAW Miners Chief Gets 21-Month Prison Term for Defrauding $9.2 Million

A former cryptocurrency entrepreneur will spend time behind the bars of a Federal prison after pleading guilty to defrauding customers of $9.2 million. According to court documents, Hartford Federal Court sentenced Homera Joshua Garza, 33, the former CEO of a now-defunct GAW Miners mining company, to a statutory minimum of 21 months in a federal corrections facility. Joshua Garza pleaded ...

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Bitcoin Price Should Stabilize Near $5,000: Allianz Chief Economist

It is not terribly common for a mainstream economist to say something good about bitcoin in the period of its downtrend, but Mohamad El-Erian once again made an exception. Cryptocurrency’s Not Going Away The Allianz chief economic advisor said in an interview that cryptocurrencies are not dead, though they may be overvalued. He specifically mentioned bitcoin as an asset whose ...

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UK Regulator’s Chief ‘Won’t Rule Out Roles’ for Cryptocurrencies, Warns of Risks

The chief executive of the United Kingdom’s primary financial regulator has called for a balanced approach in nurturing the benefits while narrowing out the risks of cryptocurrencies. In a speech during the regulator’s Annual Public Meeting on Tuesday, Financial Conduct Authority (FCA) chief Andrew Bailey outlined four specifically chosen operational risks that figure within the regulator’s ongoing work. The impact ...

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