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As bitcoin and ether remain in the red on Monday, here are five things to know about last week’s crypto – from Jack Dorsey confirming Square is building a bitcoin hardware wallet to TikTok banning cryptocurrency promotions.
1. Senator Elizabeth Warren Gives SEC Deadline for Crypto Regulatory Responses
On Wednesday, Senator Elizabeth Warren, D-Mass., wrote a letter to Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), calling for more regulation of crypto.
“While the demand for cryptocurrencies has increased in recent years, the volume of trading activity on cryptocurrency exchanges has also increased, especially among the larger exchanges,” Warren wrote. “… The increased use of cryptocurrency exchanges presents unique risks to consumers.”
Warren asked a series of questions on the topic and set a July 28 response deadline.
2. Jack Dorsey confirms that Square is building a bitcoin hardware wallet
June 4, Dorsey first mentioned that Square “was considering creating a hardware wallet” on Twitter, and on Thursday he confirmed that his financial services company creates one.
On Thursday, Jesse Dorogusker, head of hardware at Square, tweeted that the company had “decided to create a hardware wallet and service to make bitcoin custody more common.” Dorsey retweeted it saying, “We do #bitcoin.”
3. SEC Alleges Insider Trading Related to Long Blockchain
“The SEC remains committed to preventing all types of fraudulent conduct in connection with so-called ‘crypto’ companies, including profit from trading material non-public information,” said Richard R. Best, director of the regional office of the SEC in New York, in a statement. Release.
This is not the first time the company has been involved with the SEC. Long Blockchain shares were delisted by the SEC in February.
4. TikTok prohibits influencers from promoting cryptocurrency
TikTok has banned influencers from promoting financial products and services on its social media platform, The Financial Times reported Thursday.
The list of prohibited “branded content” includes loans and credit cards, cryptocurrency, pyramid schemes and get-rich-quick schemes, among others.
In the United States, TikTok also bans ads promoting virtual currencies and cryptocurrencies, as well as cryptocurrency trading platforms and advisory services, according to its website.
5. Sotheby’s sold a diamond for $ 12 million in cryptocurrency
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