Jack Dorsey confirms Square bitcoin wallet, TikTok ban

As bitcoin and ether stay within the pink on Monday, listed below are 5 issues value realizing in crypto from the previous week – from Jack Dorsey confirming Square is constructing a bitcoin {hardware} pockets to TikTok banning cryptocurrency promotions.

1. Sen. Elizabeth Warren offers the SEC a deadline for solutions on crypto regulation

On Wednesday, Sen. Elizabeth Warren, D-Mass., addressed a letter to Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), calling for extra crypto regulation.

“As demand for cryptocurrencies has grown in recent times, the quantity of buying and selling exercise on cryptocurrency exchanges has additionally grown, notably amongst the biggest exchanges,” Warren wrote. “…The elevated use of cryptocurrency exchanges presents distinctive dangers to customers.”

Warren requested a sequence of questions on the matter and set a response deadline for July 28.

2. Jack Dorsey confirms Square is constructing a bitcoin {hardware} pockets

On June 4, Dorsey first mentioned that Square was “considering making a hardware wallet” on Twitter, and on Thursday, he confirmed that his monetary companies firm is definitely creating one.

On Thursday, Jesse Dorogusker, {hardware} lead at Square, tweeted that the corporate has “determined to construct a {hardware} pockets and repair to make bitcoin custody extra mainstream.” Dorsey retweeted it, saying, “We’re doing it #bitcoin.”

3. SEC alleges insider buying and selling linked to Long Blockchain

On Friday, the SEC charged three individuals with insider trading forward of Long Island Iced Tea’s rebranding to Long Blockchain in 2017. In its shift from a beverage firm to a blockchain firm, Long Blockchain’s inventory worth soared.

“The SEC stays dedicated to stopping all sorts of fraudulent conduct in reference to purported ‘crypto’ firms, together with benefiting from buying and selling on materials private info,” stated Richard R. Best, director of the SEC’s New York regional workplace, in a release.

This is not the primary time the corporate has been concerned with the SEC. Long Blockchain’s inventory was delisted by the SEC in February.

4. TikTok bans influencers from selling cryptocurrency

TikTok banned influencers from selling monetary companies and merchandise on its social media platform, The Financial Times reported on Thursday.

The list of prohibited “branded content” consists of loans and bank cards, cryptocurrency, pyramid schemes and get wealthy fast schemes, amongst others.

In the U.S., TikTok additionally prohibits advertisements selling digital currencies and cryptocurrencies, in addition to cryptocurrency buying and selling platforms and advisory companies, based on its website.

5. Sotheby’s offered a diamond for $12 million in cryptocurrency

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About the Author: Daniel