Leading cryptocurrency exchange Binance plans to launch a stablecoin within two months, in an apparent challenge to the dominance of scandal-plagued Tether.
As Facebook moves aggressively into crypto, challenges await
The social media giant is getting serious about its stablecoin, says CFTC Chair Giancarlo
Facebook has begun talking to U.S. regulators about getting approval for its forthcoming stablecoin cryptocurrency, said to be referred to as “GlobalCoin” at Facebook.
New York State Supreme Court building in Lower Manhattan showing the words "The True Administration of Justice" on its facade (via Shutterstock).Judge Joel Cohen orders New York Attorney General Letitia James to prove jurisdiction over Bitfinex and Tether
The New York State Supreme Court may throw out the charges if no New Yorkers were harmed
A court on May 22 ordered New York State Attorney General Letitia James to prove her office has the right to sue Bitfinex and Tether for fraud and securities law violations.
Bitfinex and Tether’s claim of victory over New York Attorney General Letitia James rings hollow
Judge Joel Cohen’s ruling said claims of securities violations and possibly fraud have a likelihood of success
On May 16, New York State Supreme Court Judge Joel Cohen modified an injunction granted to James that froze the ability of stablecoin issuer Tether from loaning any more money to its sister company, cryptocurrency exchange Bitfinex. But, Tether’s ability to loan Bitfinex any more money also remains frozen, and all the judge did in limiting the order to 90 days is make the Attorney General’s office reapply for the injunction once a quarter if they want to keep investigating.
