Binance’s UK arm has been barred from offering regulated activities in the country since June 2021, but the company will reportedly move to secure licensing under new crypto rules. Cryptocurrency exchange Binance is reportedly planning to apply for a license with the UK’s Financial Conduct Authority (FCA) in a move expected to relaunch certain services for residents in 2027. According to a Saturday report from The Telegraph, Binance will apply for the UK license as new digital asset laws are set to take effect in the country. The FCA said in June 2021 that Binance’s UK arm, Binance Markets Limited, was “not permitted to undertake any regulated activity in the UK,” and the exchange announced in 2023 that it would halt onboarding of new users in response to the UK watchdog’s rules on financial promotions. A Binance spokesperson told Cointelegraph that the exchange “does not comment on speculation surrounding potential licence applications.” The company did not respond to questions on its existing operations in...
The regulatory review could shape an emerging market that lets companies and investors trade and hedge the cost of increasingly scarce AI computing power. The US Commodity Futures Trading Commission (CFTC) is preparing to solicit public comment on futures contracts tied to computing capacity, a critical resource for artificial intelligence development, as major exchanges move to launch products tied to the emerging asset class. Bloomberg reported Monday that the regulator sent a request for comment to the White House Office of Management and Budget for review. The move could complicate the timeline for planned compute futures from CME Group and Intercontinental Exchange, whose products remain subject to regulatory approval. Once the White House review is complete, the CFTC is expected to open a public comment period, typically lasting 30 or 60 days, according to Bloomberg. The review signals that regulators are still weighing questions around a market that would allow participants to trade and hedge the cost ...
The stablecoin bill signed into law last year is scheduled to go into effect in January 2027, potentially without finalized regulations from US government agencies. The US Department of the Treasury issued a notice of proposed rulemaking related to the implementation of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, a bill to establish a framework for payment stablecoins signed into law last year. In a Monday notice, the Treasury Department said that it was opening a proposed rule up to public comment ahead of the January 2027 implementation of the GENIUS Act. Under the terms of the bill, the stablecoin law had been scheduled to go into effect 120 days after agencies finalize rules, or 18 months after it was passed in July 2025, making its effective date Jan. 18, 2027. Treasury Secretary Scott Bessent said that the department “welcomes input from stakeholders as [it works] to provide the regulatory certainty businesses need to innovate and grow in America.” Read more
Bitcoin price strength saw BTC/USD pass $64,000 on 2% daily gains as gold pushed higher while US stocks wobbled on fresh US-Iran rhetoric. Bitcoin (BTC) returned to $64,000 after Monday’s Wall Street open as US stocks gave way to gold. Key points: Data from TradingView showed BTC/USD up by more than 2% on the day, rebounding from Sunday’s weekly close. Read more
Tom Lee’s Ethereum treasury company keeps buying the second-biggest crypto through the downturn, while more than 5 million staked ETH is projected to generate $287 million in annual rewards. Tom Lee’s Bitmine Immersion Technologies, an Ethereum treasury company, resumed its Ether purchases last week, bringing it closer to a key business target of owning 5% of the second-biggest cryptocurrency’s supply despite challenging market conditions. The company disclosed Monday that it acquired 9,926 Ether (ETH) during the week ending Aug. 16, bringing its total holdings to roughly 5.82 million ETH, or about 4.8% of Ethereum’s circulating supply. At an ETH reference price of $1,893, Bitmine’s Ether holdings were valued at roughly $11 billion. However, much of the company’s ETH was acquired at significantly higher prices. Ether’s price was little changed on Monday, sitting just above $1,900. Read more