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Stablecoins and Ether (ETH) are commodities that should come under the purview of the United States Commodity Futures Trading Commission, its chairman has again asserted at a recent Senate hearing.At the March 8 Senate Agricultural hearing, CFTC chair Rostin Behnam was asked by Senator Kirsten Gillibrand about the differing views held by the regulator and the Securities and Exchange Commission following the CFTC’s 2021 settlement with stablecoin issuer Tether. Behnam replied:“Notwithstanding a regulatory framework around stablecoins, they’re going to be commodities in my view.”“It was clear to our enforcement team and the commission that Tether, a stablecoin, was a commodity,” he added.In…

Six people involved in a cryptocurrency Ponzi scheme that raked in about $100 million over five years have pleaded guilty to a series of fraud and money laundering charges, each carrying a maximum sentence of 20 to 30 years of prison.One of the founders of “AirBit Club,” Pablo Renato Rodriguez, was the latest to plead guilty to wire fraud conspiracy charges on March 8.According to a March 8 statement from the United States Department of Justice, AirBit Club was a fake cryptocurrency mining and trading company operating between 2015 to 2020, where executives and promoters induced victim investors into believing…

Blockchain Easy access to all native Fantom assets is provided by KuCoin Wallet. All KuCoin Wallet users have direct access to the exciting dApps in the Fantom network and can purchase them. KuCoin Wallet, which supports multi-chain aggregation powered by the KuCoin ecosystem, has officially revealed their integration partnership with fantom, the layer-1 EVM-compatible platform. According to reports, users of KuCoin Wallet now have immediate access to all native Fantom assets due to the Fantom interface. ????#Fantom is live on #KuCoinWallet! You can now send and receive Fantom-based #tokens on KuCoin Wallet! Get KuCoin Wallet and explore the Fantom ecosystem…

Officials of the United Kingdom’s Financial Conduct Authority (FCA) appeared before the House of Commons’ Treasury Committee on March 8 to discuss the agency’s work. Among the issues raised was cryptocurrency regulation, which the officials approached with a clear lack of enthusiasm.FCA chair Ashley Alder, who took that position in February after serving as CEO of Hong Kong’s Securities and Futures Commission, told the committee that the FCA is “midway through a quite ambitious reset” as the Financial Services and Markets bill makes its way through the Parliament. He and CEO Nikhil Rathi answered questions on predatory lending, mortgage rates…

NFT The Forkast 500 NFT Index fell in Asia trading on Friday morning, with sales on the Ethereum and Solana blockchains, the two biggest for non-fungible tokens, slipping back. Polygon, the third biggest, saw a sales surge. The index dipped 1.12% to 4,187.01 in the 24 hours through 9:00 a.m. in Hong Kong. The index by Forkast.news data partner CryptoSlam is a measure of the performance of the global NFT market based on 500 eligible smart contracts. Fast facts Global NFT sales slipped 1.58% to US$27.3 million, while the number of unique buyers rose 9.75% to 80,017, according to data…

Fighting in the arena in Champions Ascension just got a little more exciting and chaotic with the addition of team-based arena combat. No longer need players stand alone on the sands as the team introduces a new, team battle mode! Featuring two teams of three, this new mode adds a number of additional twists to arena combat No longer content with watching two warriors battle it out on the sands of the arena, the Emperor of Massina has declared a new type of contest. One where two teams meet in a vicious brawl until only one side remains standing! Team…

Crypto exchange Gemini took to Twitter on March 8 to deny rumors about its banking relationship with United States financial conglomerate JPMorgan being terminated. In a brief and straightforward message, Gemini stated that “despite reporting to the contrary, Gemini’s banking relationship remains intact with JPMorgan.”The comments came in response to a previous report that claimed without naming a source that the banking ties between the two companies were ending.Despite reporting to the contrary, Gemini’s banking relationship remains intact with JPMorgan.— Gemini (@Gemini) March 8, 2023 The rumors surfaced amid uncertainty about the future relationship between the banking system and the crypto…

According to United States Senator Kirsten Gillibrand, a new draft of the bipartisan crypto bill pioneered by herself and Senator Cynthia Lummis will be released to the new Congress after being deferred in 2022.In a March 8 Senate Agriculture Committee hearing on oversight of the Commodity Futures Trading Commission, Senator Gillibrand asked CFTC chair Rostin Behnam for his opinion on the crypto bill she had previously drafted with Senator Lummis aimed at creating a regulatory framework for the crypto industry. According to Gillibrand, the next draft of the bill will be available in mid-April.“Our ambition is to make sure that…

NFT GQ is the latest legacy print magazine to make moves in Web3 with the launch of its GQ3 community and the associated Ethereum NFT drop, which promised various benefits to buyers. But the men’s lifestyle magazine failed to sell out its mint, and now the brand is apparently trying to keep NFT buyers happy as resale prices fall. The GQ3 NFT mint began Wednesday, with 1,661 total NFT access passes offered up for 0.1957 ETH apiece—about $290 worth as of this publication. But when the mint window ended this morning, only 1,060 of the NFTs had been sold per…

NFT Amazon, the world’s largest bookstore, has announced plans to tie real-world assets bought on Amazon to tokens and NFTs. If history repeats itself, Amazon could become the world’s largest seller of NFTs. Amazon: The Largest Seller? Amazon started with books, but it has grown to become the world’s largest online marketplace over the years. Amazon’s success can be attributed to its ownership of the ecosystem and customer base, which gives it a significant advantage in the potential NFT market. This means there are fewer moving parts and customer journey friction points when buying an NFT with Amazon. It’s Amazon’s…