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Shiba Inu (SHIB) has been on a gradual decline for the last month, shedding more than 24% of its value during this time. Shiba Inu price trades at $0.0000113 today, June 21, but technicals suggest that another 50% drop could be imminent. Moreover, a recent spike in the SHIB burn rate by 7,200% in 24
The post Shiba Inu Price Risks 50% Crash Despite 12M SHIB Burn – Here’s Why appeared first on CoinGape.
The US DOJ just published a new directive claiming it will stop investigating and criminally charging crypto exchanges, mixers, and offline wallets.
This has produced a mixed response from the crypto community. Some sectors are jubilant about the potential freedom for business, while others fear the growing problem of fraud and criminal money laundering.
The US financial regulatory apparatus has been much more friendly to crypto since President Trump took office. The SEC is reviewing its guidelines, the FDIC is working to prevent future debanking, and the entire political climate is changing.
Today, the Department of Justice (DOJ) released a statement claiming it will no longer investigate crypto entities.
“The Justice Department will stop participating in regulation by prosecution in this space. Specifically, the Department will no longer target virtual currency exchanges, mixing and tumbling services, and offline wallets for the acts of their end users or unwitting violations of regulations,” the DOJ’s statement claimed.
The DOJ’s statement applies to cryptocurrency exchanges, wallets, and crypto mixers like Tornado Cash. It builds on the Department’s previous announcement today, claiming that it disbanded the National Cryptocurrency Enforcement Team.
The department gives itself room to prosecute individual bad actors, but only in specific circumstances.
The US DOJ has been notorious for leading some of the biggest criminal investigations against crypto exchanges, such as Binance and KuCoin. Its critical investigation and charges against Binance led to the record $4.3 billion settlement in 2023.
However, the department is now moving on from crypto. According to today’s announcement, it will even drop any ongoing investigations against such entities immediately.
Also, it will not pursue legal liability for developers whose code is used by others to commit crimes, and it has closed all active investigations.
While it was expected that the department would lower its crypto enforcement under Trump, the complete laissez-faire decision has caught the crypto by surprise. Following the news, Tornado Cash (TORN) surged nearly 10% today.
The Department also asked regulators to review victim compensation laws. Although this is arguably a victory for crypto, it may also enable future finance crimes.
Crypto sleuth ZachXBT recently claimed that there is an “eye-opening” level of North Korean activity in DeFi. If the department turns a blind eye to major criminal operations on these exchanges and mixers, it may enable serious violations.
After the announcement first broke, crypto Twitter was filled with users declaring that “crime is legal now.”
Additionally, the industry may be pushing its luck with a dramatic move like this. Crypto scams are at an epidemic level right now, and the market is very uncertain.
The DOJ is disabling its ability to target criminals on exchanges and mixers, with little guarantee that it can enforce the law. In other words, it may be removing critical guardrails to prevent future disasters.
“Crypto lobby: ‘Sure, Trump nixed the Crypto Enforcement Team, directed Major Fraud prosecutors to stop prosecuting crypto cases, and is trying to exempt crypto platforms from the Bank Secrecy Act, but they wrote right here that they care about stopping crypto crime! Reject the evidence of your eyes and ears!’” claimed crypto researcher Molly White.
Overall, it’ll be difficult to fully predict the implications of the department’s new policy on exchanges. For now, this directive will give many crypto-related businesses the freedom to conduct operations as they see fit.
Hopefully, business will proceed as usual without any serious controversies.
The post US Justice Department (DOJ) Will Stop Investigating Crypto Exchanges and Wallets appeared first on BeInCrypto.
The post XRP Price Analysis: Breakout or Breakdown Ahead? appeared first on Coinpedia Fintech News
The price of XRP has been moving sideways without any clear direction for the past few days, and today’s analysis focuses on the shorter time frame since the bigger picture hasn’t changed much. At the time of writing, XRP is trading at $2.18 and is up by more than 1%.
According to analysts, XRP has made a small move to the upside, but it’s not yet strong enough to confirm a solid uptrend. The recent increase looks like a three-wave pattern, which could either be the start of something bigger or just another temporary bounce.
Here’s what’s happening:
On the other hand, if XRP has already completed its B-wave correction and started a new C-wave upwards, it could target the $2.55–$2.68 zone. However, there’s not much clear evidence to confirm this yet — both the recent moves up and down have been choppy, making it difficult to predict the next big move.
Since mid-April, XRP’s price action has been messy and directionless, mostly moving sideways. While there’s still a chance for higher prices, traders should watch for key support levels:
The post XRP Price Analysis: Breakout or Breakdown Ahead? appeared first on Coinpedia Fintech News
The price of XRP has been moving sideways without any clear direction for the past few days, and today’s analysis focuses on the shorter time frame since the bigger picture hasn’t changed much. At the time of writing, XRP is trading at $2.18 and is up by more than 1%. According to analysts, XRP has …
The post Kraken Rolls Out Commission-Free Stocks and Crypto Trading in A Major Expansion appeared first on Coinpedia Fintech News
Crypto Exchange Kraken has started rolling out commission-free trading for over 11,000 US listed stocks and ETFs. The service is now available for users in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama and the District of Columbia, who can trade stocks and ETFs directly within their Kraken account.
Kraken users can now manage stocks, crypto, cash and stablecoins all at one place through the Kraken mobile app, Kraken Pro app or web platform. Besides, the platform also supports fractional trading on many assets which enables users to buy just a fraction of expensive stocks, instead of buying a whole share, which makes investing more easier and affordable for users.
Nate Geraci, the President of ETF Store took to X to share the update with his followers.
The move marks a major step into traditional finance (TradFi) as Kraken expands beyond crypto for the first time. It now allows clients to easily buy stocks with US dollars. Kraken now lets users reinvest instantly, trade fractional shares, and manage stocks and crypto in one place.
This move is powered by its new regulated division, Kraken Securities LLC, which is a new FINRA-regulated division of the company, making it easy to switch between crypto and stocks, all in one platform.
“Crypto isn’t just evolving, it’s becoming the backbone for trading across asset classes, such as equities, commodities, and currencies. As demand for 24/7 global access grows, clients want a seamless, all-in-one trading experience,” Arjun Sethi, Kraken’s co-CEO remarked.
He added further that expanding into equities is a natural next step which brings them close to turning real-world assets into tokens on the blockchain. He believes that the future of trading will be ‘borderless’, 24/7, and based on crypto technology, where Kraken aims to lead the way.
Moving further, Kraken also plans to expand traditional securities trading to the UK, Europe and Australia, while also introducing new features to enhance user’s trading experience.
Recently, Kraken and Mastercard joined forces to make spending crypto easier in the EU. Now, users can pay with Bitcoin and other coins at over 150 million places at Mastercard-suppoted locations. This is a big step towards using crypto for everyday purchases.
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
The post Kraken Rolls Out Commission-Free Stocks and Crypto Trading in A Major Expansion appeared first on Coinpedia Fintech News
Crypto Exchange Kraken has started rolling out commission-free trading for over 11,000 US listed stocks and ETFs. The service is now available for users in New Jersey, Connecticut, Wyoming, Oklahoma, Idaho, Iowa, Rhode Island, Kentucky, Alabama and the District of Columbia, who can trade stocks and ETFs directly within their Kraken account. Seamless Trading of …