Weekly Report (09 – 14 May 23) | What Happened This Week In Crypto

This Report will provide you with some essential and quick news about cryptocurrencies that happened around the world.

1) Binance Is Pulling Out Of The Canadian Market

New regulations for the Canadian securities industry have been introduced this year. The cryptocurrency exchange has joined the ranks of other crypto businesses that are “proactively withdrawing from the Canadian marketplace.”…[continue reading]

2) Coinbase Protests Political And Legal Power To Fight The SEC

Change of crypto Coinbase is expanding its Advisory Council with political big hitters. Increasing its legal and intellectual ammunition in the fight against regulators. The change was welcomed by some in the crypto community but was long overdue for others…[continue reading]

3) The Use Of Virtual Currencies Is Now Protected Under Texas Law

Legislators in Texas have voted to include cryptocurrency in the state’s Bill of Rights. The overwhelming majority in support of the proposal may be indicative of legislators’ overall sentiment towards virtual currency. There were just two MPs who voted no, while 139 voted yes…[continue reading]

4) Bored Ape NFT Purchased For $90,000 By New Yuga Labs CEO Daniel Alegre

Yuga Labs, the company responsible for developing Bored Ape Yacht Club (BYAC), has its own NFT collection, and CEO Daniel Alegre has purchased one item from it. Market cap-wise, BAYC is close to $800 million, making it the most valuable blockchain collectible…[continue reading]

5) The US Securities And Exchange Commission Cannot Be Trusted To Oversee Crypto Trading

A new asset class, cryptocurrencies has emerged with the advent of digital banking, posing a threat to established financial standards and laws. However, the US Securities and Exchange Commission (SEC) must monitor them because of their volatility, speculative character, and potential for abuse…[continue reading]