Emily Parker is CoinDesk's executive director of global content. Previously, Emily was a member of the Policy Planning staff at the U.S. State Department, where she advised on Internet freedom and digital diplomacy. Emily was a writer/editor at The Wall Street Journal and an editor at The New York Times. She is the co-founder of LongHash, a blockchain startup that focuses on Asian markets.She is the author of "Now I Know Who My Comrades Are: Voices From the Internet Underground" (Farrar, Straus & Giroux). The book tells the stories of Internet activists in China, Cuba and Russia. Mario Vargas Llosa, winner of the Nobel Prize for Literature, called it "a rigorously researched and reported account that reads like a thriller." She was chief strategy officer at Silicon Valley social media startup Parlio, which was acquired by Quora.She has done public speaking all over the world, and is currently represented by the Leigh Bureau. She has been interviewed on CNN, MSNBC, NPR, BBC and many other television and radio shows. Her book has been assigned at Harvard, Yale, Columbia, Tufts, UCSD and other schools.Emily speaks Chinese, Japanese, French and Spanish. She graduated with Honors from Brown University and has a Masters from Harvard in East Asian Studies. She holds Bitcoin, Ether and smaller amounts of other cryptocurrencies.

Originally posted here:

Crypto Markets Outlook After Nov. Jobs Report; Binance Founder CZ Can't Leave the U.S. Right Now - CoinDesk

Binance has expanded its free trading options for the spot and margin trading pairs of the First Digital USD (FDUSD) stablecoin pairing with six digital assets, including BNB, Dogecoin, Chainlink, Ethereum, Solana, and XRP, according to a Dec. 5 statement.

Binance users will see zero maker and taker fees for these pairs starting Dec. 8 for an undisclosed period. The exchange explained that the free trading option would exclude these pairs from BNB fee discounts, rebates, and other adjustments.

However, the firm stated that it reserves the right to disqualify trades deemed to be wash trades or illegally bulk account registrations, as well as trades that display attributes of self-dealing or market manipulation.

The free transaction promotion is part of Binances ongoing efforts to encourage its users to use the FDUSD stablecoin.

Last week, the crypto platform said it would phase out support for Binance USD (BUSD) by Dec. 15. Binance urged users to convert their BUSD holdings into the new stablecoin before the end of the year, sayingit would end BUSD withdrawals by Dec. 31 and that BUSD balances would be automatically converted to FDUSD.

Binances decision relates to the BUSD stablecoins regulatory issues. Earlier in the year, the BUSD issuer, Paxos, suspended the stablecoin issuance following scrutiny from U.S. regulators. At the time, the company received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), which classified the stablecoin as a security.

While Binance and Paxos have vehementlyrejectedthis classification, the crypto community promptlydeserted the stablecoin, with its circulating supply dropping to less than $2 billion as of press time, according to CryptoSlates data.

Concurrently, Binance has been heavily pushing FDUSD as a viable alternative, introducing new products for the digital asset and incentivizing its use. However, FDUSDs circulating supply remains less than 1 billion andis only available on less than five crypto exchanges.

Read more from the original source:

Binance looks to boost FDUSD adoption with fee-free trading for Ethereum, XRP, others - CryptoSlate

Brian Armstrong, chief executive officer of Coinbase Global Inc., speaks during the Messari Mainnet summit in New York, on Thursday, Sept. 21, 2023.

Michael Nagle | Bloomberg | Getty Images

The crypto industry can finally close the chapter on a litany of scandals and problems after Binance was hit with a historic settlement by the U.S. Department of Justice, Coinbase CEO Brian Armstrong said Monday.

"The enforcement action against Binance, that's allowing us to kind of turn the page on that and hopefully close that chapter of history," Armstrong said in an interview with CNBC's Joumanna Bercetche.

"There are many crypto companies that are helping build the crypto economy and change our financial system globally. But many of them are still small startups."

"I think that regulatory clarity is going to help bring in more investment, especially from institutions," he added.

Binance was hit by the U.S. Department of Justice with a $4 billion settlement last week, which saw its founder and CEO, Changpeng Zhao, step down and plead guilty to charges of money laundering violations.

The government accused Binance of violating the U.S. Bank Secrecy Act and of breaching sanctions on Iran.

Armstrong pushed back on the suggestion that crypto is mainly used for nefarious purposes such as fraud, money laundering and terrorist financing, a common refrain from financial firms that have avoided jumping into the space due to compliance concerns.

"It's true that there have been some small amount of illicit activity in crypto but it's actually less than 1% from what we've seen. If you look at illicit uses of cash it's oftentimes more than that," Armstrong told CNBC.

Some players, he conceded, have been "bad actors," referring to the case of Binance, as well as the collapse of crypto exchange FTX and the conviction of its founder Sam Bankman-Fried on charges of fraud.

Armstrong is in the U.K. Monday for the Global Investment Summit, which gathers a host of business leaders to encourage foreign investment in the U.K.

Coinbase was the only crypto company invited to the summit, which Armstrong termed an "endorsement" for the company, but not necessarily the broader industry.

Armstrong said that he is "impressed" with U.K. Prime Minister Rishi Sunak's leadership when it comes to digital currencies and that Coinbase was investing more in the U.K. as a result.

The U.K. is seeking to bring digital assets such as cryptocurrencies and stablecoins into the regulatory fold.

Coinbase is currently engaged in a tense legal battle with the U.S. Securities and Exchange Commission over allegations that the company is violating securities laws with its platform.

On that point, Armstrong said he feels very good about Coinbase's chances fighting the lawsuit. He also disputed the idea that the SEC's actions have forced Coinbase to move offshore, adding that the company is still investing actively in its home market.

Correction: Sam Bankman-Fried was convicted on charges of fraud. An earlier version misstated his status.

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Coinbase CEO says crypto industry can turn the page after historic Binance settlement - CNBC

Coinbase (COIN) CEO Brian Armstrong says the industry can finally close the chapter of bad actors after the recent settlement between Binance and the U.S. Department of Justice.

There certainly have been a few bad actors in crypto and I think weve had a moment recently with the enforcement action against Binance thats allowing us to turn the page on that and close that chapter of cryptos history, Armstrong said in an interview with CNBC International Monday at the Global Investment Summit in London.

He also said that the criminal enforcement actions against Binance and the once-popular but now bankrupt crypto exchange FTX show that taking your business offshore doesnt work. While Binance is a Hong Kong-based company, mostly focused on business in the Asia Pacific region, FTX was headquartered in the Bahamas.

Sometimes its easy to get big fast by skirting the rules but youll always come crashing back down to reality, he said, arguing that its time for U.S.-based companies that have complied with regulation from the beginning to grow.

Though different from Binances legal struggles in the U.S., Coinbase is still battling with U.S. regulators on allegations that the exchange operated an unregistered broker, exchange and clearing agency simultaneously. Armstrong said he feels good about the case's outcome and that it will help with regulatory clarity in the U.S.

The company remains focused on its commitment to its U.S. business despite its efforts to grow in other jurisdictions, including the U.K., which Armstrong said is Coinbases second biggest market. We started the company in the U.S. and were committed to staying there and were going to grow there because its a big market.

Armstrong also said the race to launch a spot-bitcoin ETF is monumental for the industry. Itll bring in new sources of capital into crypto that arent able to participate directly today and I think itd be a legitimizing outcome for the industry, he said.

Originally posted here:

Coinbase CEO Says Binance Settlement Will Turn the Page on Crypto's 'Bad Actors' - CoinDesk

The Philippines Securities and Exchange Commission is warning users in the country that it may soon block access to Binance as the exchange is operating without a license in the country.

In a notice, the regulator said that Binance is not authorized to sell or offer securities to the public.

The regulator also said Binance is actively promoting crypto trading to Filipinos on social media, an offense in the country that may have criminal liability for the promoter.

Those who act as salesmen, brokers, dealers or agents, representatives, promoters, recruiters, influencers, endorsers, and enablers of Binance in selling or convincing people to invest in its platform within the Philippines, even through online means, may be held criminally liable under Section 28 of the Securities Regulation Code," it said in the notice, warning of fines of 5 million Philippine Pesos ($90,000) or up to 21 years in jail.

The regulator is also seeking the assistance of the National Telecommunications Commission to block Binance in the country, and it has ordered Google and Meta to block local ads from Binance.

This block, if approved, will take place in three months allowing local users to liquidate and withdraw their positions.

Local media in the Philippines published a response from Binance, where the exchange said it was "committed to aligning with applicable local regulations. Under our new leadership, we have taken proactive steps to address the SEC's concerns.

Binance recently settled with U.S. authorities, agreeing to pay $4.3 billion in fines on charges that it failed to maintain a proper anti-money laundering program, operated an unlicensed money-transmitting business, and violated sanctions law.

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Philippines Security Regulator Warns Binance Is Operating Without a License - CoinDesk