BITCOIN

Cryptocurrency exchange Bittrex is shutting down its U.S. operations due to “continued regulatory uncertainty” as U.S. regulators increase their enforcement efforts against cryptocurrency trading platforms. Regulatory requirements currently “are often unclear and enforced without appropriate discussion or input, resulting in an uneven competitive landscape,” Bittrex described. Bittrex Exiting U.S. Crypto Market Cryptocurrency exchange Bittrex announced the shutdown of its U.S. operations on Friday. The exchange tweeted: Due to continued regulatory uncertainty, we have made the difficult decision to wind down our U.S. operations, effective April 30, 2023. “All funds are safe and can be fully withdrawn immediately,” the announcement adds, emphasizing that the closure does not affect non-U.S. customers using the Bittrex global platform. Richie Lai, CEO and co-founder of Bittrex, explained: “It’s just not economically viable for us to continue to operate in the current U.S. regulat

The host of Mad Money, Jim Cramer, has warned investors about using cryptocurrency exchange Binance, stating that the crypto trading platform is “way too sketchy.” Cramer cited former regulator Timothy Massad, who previously served as chairman of the U.S. Commodity Futures Trading Commission (CFTC). The regulatory agency recently took action against Binance and its CEO, Changpeng Zhao (CZ). Jim Cramer Warns About Binance The host of CNBC’s Mad Money show, Jim Cramer, cautioned investors about using cryptocurrency exchange Binance on Friday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. He tweeted: After listening to Tim Massad on last night’s show (former head of the CFTC), I would not do business with Binance. Just way too sketchy. Massad, who served as chairman of the U.S. Commodity Futures Trading Commission (CFTC) from 2014-2017, has been an advocate of stronger cryptocurrency regulations for years. Explaining the

The BRICS nations are reportedly working on developing a new form of currency, which is expected to be discussed at the next BRICS leaders’ summit, according to a top Russian official. “The transition to settlements in national currencies is the first step. The next one is to provide the circulation of digital or any other form of a fundamentally new currency in the nearest future,” the deputy chairman of the Russian State Duma was quoted as saying. New Currency for BRICS Countries The BRICS countries are reportedly working on creating a new form of currency with a plan to present its development at the BRICS leaders’ summit in August, State Duma Deputy Chairman Alexander Babakov said Thursday on the sidelines of the India-Russia Business Forum in New Delhi. This forum marks the commencement of international events at the St. Petersburg International Economic Forum 2023. The top Russian official was quoted as saying: The transition to settlements in national currencies is the fir