Bitcoin & Altcoins, Crypto News and Guides

Since the start of this year, Coinbase’s stock price has surged more than 400%. That’s as investors anticipate that approval for a bitcoin exchange-traded fund by the SEC may be around the corner. The most stringent cases played out in the first half of the year when the SEC accused Binance and Coinbase of engaging in illegal securities dealing in a pair of lawsuits. Here’s the state of play globally for crypto regulation and enforcement in 2023 — and a look at what to expect in 2024. The purpose of this website is solely to display information regarding the products and services available on the Crypto.com App.

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Cango purchased 50 EH/s worth of mining power towards the end of 2024, making it one of the biggest players in the bitcoin mining industry. Bitcoin spot ETFs have seen inflows of $36.4 billion since they began trading in January, while ethereum spot ETFs have garnered $2.4 billion since hitting the market in July. A dozen bitcoin spot ETFs kicked off the industry’s rally in January, making it easier for investors to trade bitcoin. In September, a host of central bank rate cuts and other policies added to the rally by paving the way for a growth economy.

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While many regions have passed laws with potentially tough penalties, the U.S. is still the only country that has actively taken action against large-scale crypto companies and projects. Thus far, the U.S. has led that campaign against crypto firms by enforcement and has, by far, been the most punishing of regulators when it comes to penalties and fines. The region has been increasingly warming to crypto assets, despite a broader anti-crypto push from China, which banned bitcoin trading and mining in 2021. Earlier this year, the Monetary Authority of Singapore, which is recognized for clear fintech and crypto regulations that do not rely heavily on enforcement actions, finalized rules for stablecoins, making it one of the world’s first jurisdictions to do so. The analysts said they are monitoring bitcoin volumes, stablecoin market values, and rising adoption in countries with currency problems, such as Turkey, Argentina, and Venezuela.

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• In Germany, meanwhile, the financial regulator Bafin has said it wants to accelerate its approach to licensing crypto custody services, as part of a broader effort to instill trust and transparency in the crypto market.
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Ethereum dominates USDC’s supply at 65%, but Solana, Base, and Hyperliquid now capture a growing share of the market. Delphi Digital predicts that stablecoin monthly active addresses will surpass 50 million as adoption becomes a necessity for fintechs. Bitcoin was among the assets affected, however it has significantly grown in value since then and briefly stood at more than $100,000 per coin in December. It’s estimated the so-called “cryptocrash” resulted in losses of $400bn (£318 bn).

The crypto industry saw the most legislative progress on crypto laws in the U.S. this year, with one of the competing digital asset bills making it past multiple House committees for the first time. “To be clear, in some cases — like FTX — enforcement was necessary,” said Renato Mariotti, a former prosecutor in the U.S. “But U.S. enforcement actions against market participants that are more focused on compliance are questionable and the result of the U.S. ‘regulation by enforcement’ approach.” Regulators around the world from Europe to Asia ramped up efforts to bring about formal laws for digital currencies in 2023 — but it was the U.S. that took some of the harshest legal actions against major players in the industry. Coinatory is a news portal dedicated to providing the latest updates on cryptocurrency, blockchain, and mining. Our mission is to keep readers informed about the most significant and exciting developments in the crypto world, including updates on new coins as they emerge.

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Still, it remains a volatile, risky asset, with allocations above 3% contributing to 10% or more of total portfolio risk. But no development has been more critical for digital assets than Donald Trump’s Election Day win. Trump advocated for crypto on the campaign trail and, since his election win, has picked several crypto supporters to lead his administration, including Paul Atkins as chair of the Securities and Exchange Commission. In Germany, meanwhile, the financial regulator Bafin has said it wants to accelerate its approach to licensing crypto custody services, as part of a broader effort to instill trust and transparency in the crypto market. “This perception stems from the proactive measures taken by U.S. regulatory bodies like the SEC, CFTC, and IRS, especially in addressing fraud and security issues in the crypto market. High-profile legal actions in the U.S. further cement its image as a strict enforcer,” he said.

The U.K., a non-member of the EU, passed a law in June that gives regulators the ability to oversee stablecoins. Crypto market participants nevertheless hope that the spate of legal challenges brought to crypto companies in Crypto News 2023 will bring clarity in the form of new regulations. Coinbase CEO Brian Armstrong condemned the SEC’s actions against the exchange and suggested the company may be forced to move its headquarters overseas. Armstrong later walked back the threat of relocating abroad, but Coinbase and other major crypto firms have still begun to invest more heavily in their international operations. But crypto companies have begun to push back, with some threatening to decamp from the U.S. entirely should this dynamic of policing by enforcement continue.