Cryptocurrency News Today TheBitTimes.com

Efforts to resolve Do Kwon’s court case have been delayed by a month after the US government claimed that Do’s defense will need more time to review an extra four terabytes of evidence.  A status conference — a meeting of lawyers from both sides to discuss the current status of the case and any possible resolution — was scheduled for March 10. However, the New York District Court adjourned it to April 10 yesterday following a written request from the US government. The court agreed with the US and said it would delay the conference “to enable the defense to review voluminous discovery.” Indeed, the government claimed it submitted 600 gigabytes of evidence to the defence on February 27, including data from his cellphones, emails, and crypto trades . However, the government also said that it “anticipates producing an additional four terabytes of discovery to the defense by the end of next week.” CHART: Do Kwon’s extradition has seen a total of 23 develo...

If a majority of the five-member SEC panel votes in favor of the draft proposal, it will proceed to the next stage, which will be reviewed by other members of the SEC. The United States Securities and Exchange Commission (SEC) is reportedly planning to propose new rule changes this week that could impact what services crypto firms can offer their clients.  According to a Feb. 14 report from Bloomberg citing “people familiar with the matter,” the securities regulator is working on a draft proposal that would make it difficult for crypto firms to hold digital assets on their client’s behalf as “ qualified custodian s.” This may, in turn, affect the many hedge funds, private equity firms and pension funds that work alongside such crypto firms. According to those cited, a five-member SEC panel will vote on Feb. 15 whether the proposal proceeds to the next stage. A majority vote — 3 votes out of 5 — will be needed in order for the rest of the SEC to officially vote on the proposal. If t...

The hedge fund manager instead wants to see an “inflation-linked coin” be brought to the masses which would serve to ensure consumers secure their buying power. Billionaire investor Ray Dalio has described fiat currency as being in serious “jeopardy” as an effective store of wealth but doesn’t believe Bitcoin (BTC) and stablecoins will be the solution either. Dalio, the founder of hedge fund firm Bridgewater Associates explained on CNBC Squawk Box on Feb. 2 that the mass money printing of the United States Dollar and other reserve currencies has him questioning whether they are forms of “effective money.” “We are in a world in which money as we know it is in jeopardy. We are printing too much, and it's not just the United States, it is all the reserve currencies.” However, Dalio was quick to add his thoughts on whether Bitcoin was a potential solution, acknowledging that despite what it has accomplished in “12 years,” it is still too volatile to serve as money: "It's not ...