One of the biggest lenders within the crypto market, Celsius Network, announced it was suspending withdrawals and trading due to “extreme market conditions” — a decision that'll prevent people from accessing their digital assets.
Crypto companies are already on high alert after weeks of uncertainty in a market downturn that has seen the value of the wholesince its $3 trillion peak in early November. Crypto markets are also reeling from the recent collapse of TerraUSD, a so-called stablecoin whose popularity soared thanks to the sky-high returns promised through a connected lending platform. Celsius’s tumble has done little to help the market turmoil, with— a far cry from its November high of $67,000.
Heusser is far from alone. At an Amsterdam fintech conference last week, attendees working for crypto companies were whispering concerns about Celsius and fearing a regulatory backlash. Among the few who were comfortable speaking about it publicly was Stephen Richardson, vice president of product strategy and business solutions at the crypto company Fireblocks.
“It’s mind-boggling to me,” John Reed Stark, a former chief of the SEC’s Office of Internet Enforcement, said in an interview, adding that lending platforms have become “a plague with no regulatory oversight, no consumer protections. No fiduciary infrastructure of any type.” MiCA doesn’t target crypto lending. But it sets strict industry standards and supervision for crypto token-issuing companies that set up shop in Europe after the rules come into force. Celsius’ crisis shows the need to strengthen those draft rules to ensure that preexisting crypto companies are also in scope, according to Green MEP Ernest Urtasun.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
One dead, one injured in I-80 crash involving five commercial vehiclesThe accident that has westbound lanes closed occurred Monday evening in the Loganton area.
Weiterlesen »
This Louisiana man thought he was rescuing one kitten — then 12 more appearedAfter getting all 13 kittens into his car, Robert Brantley headed back home. He said almost all the kittens have forever homes lined up and are getting checked out by a veterinarian.
Weiterlesen »
One Piece Day Sets Summer Date to Share Several Major AnnouncementsOne Piece is getting ready to share some major announcements by setting a new date this Summer for [...]
Weiterlesen »
One man shot in Fairhope Saturday morning, police are investigatingAccording to Fairhope police one man was shot at a party early Saturday morning. He later died from his wounds at a local hospital.
Weiterlesen »
One killed in quadruple shooting in south Denver early SundayUpdated: One person was killed and three others wounded in a shooting in south Denver early Sunday morning, according to Denver police.
Weiterlesen »
In Jan. 6 cases, one judge is separating herself as the toughest punisherOverall, the 20 judges who have sentenced riot defendants have given lighter sentences than prosecutors were seeking in nearly three-fourths of the cases.
Weiterlesen »