Crypto News- The European Central Bank seems to be keeping its distance from Bitcoin, despite recent ETF approvals in the U.S. While American regulators give the green light, ECB officials like Ulrich Bindseil and Jürgen Schaaf aren’t convinced that Bitcoin is a safe bet. They argue that the recent ETF approvals might have fueled a temporary spike in Bitcoin’s value, but they warn against seeing it as a sign of long-term success. According to them, the ECB still has work to do in controlling Bitcoin and safeguarding against potential risks like money laundering, cybercrime, financial losses, and environmental concerns.
February 22 in Crypto: A Quick Overview
Meanwhile, Tether, the company behind the USDT stablecoin, remains tight-lipped about its plans regarding the Tron blockchain. With Circle stepping back from Tron, questions arise about Tether’s stance. While Tether didn’t directly address the issue, they emphasized their ability to freeze transactions for compliance reasons across different blockchains. Nonetheless, Tron hosts a significant portion of Tether’s tokens, highlighting potential implications for the stablecoin’s ecosystem.
In another development, Do Kwon, co-founder of Terraform Labs, faces extradition to the U.S. over fraud charges. Despite efforts to contest extradition to South Korea, Kwon’s fate seems sealed for now. The legal battle surrounding Terra and Kwon involves allegations of orchestrating a massive crypto asset securities fraud, with a trial looming on the horizon.
These events underscore the complex regulatory landscape and legal challenges facing the cryptocurrency industry, with significant implications for its future trajectory.
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