SEC Clampdown Has Crypto Space Abuzz, Pantera Capital Says We’re in Bull Market, and Much More — Week in Review

SEC Clampdown Has Crypto Space Abuzz, Pantera Capital Says We"re in Bull Market, and Much More — Week in Review

There’s been no shortage of news in past weeks when it comes to the United States Securities and Exchange Commission (SEC) taking action against crypto exchanges and companies. From Kraken, to Paxos, to Terraform Labs, it seems enforcement is in the air when it comes to chair Gary Gensler’s organization. In other news, South Sudan has reportedly banned U.S. dollar transactions, and crypto-focused investment firm Pantera Capital says we’re in the next bull cycle. All this just below in the latest Bitcoin.com News Week in Review.

Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security

Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD.

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[Opinion] Stiffing the Staker: The SEC’s Latest Crackdown on Crypto Innovation

The crypto world was jolted last week when the Securities and Exchange Commission (SEC) shut down Kraken’s staking program, much to the satisfaction of Chairman Gary Gensler and his team. But what does this mean for the future of cryptocurrency and, more specifically, staking?

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Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto Fraud

The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in unregistered transactions.

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Report: South Sudan Government Bans US Dollar Transactions

The government of South Sudan has reportedly prohibited U.S. dollar-based transactions and has directed that all local payments be settled in the local currency. The Salva Kiir Mayardit government reportedly said it also wants all signed commercial contracts to be based on the local currency.

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Pantera Capital on Bitcoin: We’re in Next Bull Market Cycle

Crypto-focused investment firm Pantera Capital says bitcoin has seen its lows and “we’re in the next bull market cycle.” Dan Morehead, the firm’s founder and managing partner, noted: “Over the long-term, bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average.”

Read More Tags in this story Bull Market, BUSD, do kwon, gensler, Kraken, Market Cycle, op-ed, Opinion, Pantera Capital, Paxos, SEC, South Sudan, staking, terraform labs, U.S. dollar

What are your thoughts on the SEC’s recent actions? Should cryptocurrencies require the approval of third parties like Gensler’s regulatory body? Let us know in the comments section below. Bitcoin.com

Since 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance. Ark Invest on $1.4M BTC, Possible Julian Assange-Linked File on Bitcoin Blockchain — Week in Review THE WEEKLY | Feb 12, 2023 BTC Institutional Investor Forecast for 2023, Musk Makes McDonald"s Promise Again, Kiyosaki Says "We Are in Global Recession" and More — Week in Review THE WEEKLY | Feb 5, 2023

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