Home Cryptocurrency News Jack Dorsey confirms Square's bitcoin wallet and TikTok bans crypto promotions: 5 things that happened in crypto this past week – CNBC

Jack Dorsey confirms Square's bitcoin wallet and TikTok bans crypto promotions: 5 things that happened in crypto this past week – CNBC

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

1. Sen. Elizabeth Warren provides 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 Change Fee (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, significantly amongst the most important 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 Sq. is constructing a bitcoin {hardware} pockets

On June 4, Dorsey first mentioned that Sq. was “contemplating making a {hardware} pockets” on Twitter, and on Thursday, he confirmed that his monetary companies firm is definitely creating one.

On Thursday, Jesse Dorogusker, {hardware} lead at Sq., 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 Lengthy Blockchain

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

“The SEC stays dedicated to stopping all forms of fraudulent conduct in reference to purported ‘crypto’ corporations, together with making the most of buying and selling on materials personal data,” mentioned Richard R. Greatest, 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. Lengthy 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” contains loans and bank cards, cryptocurrency, pyramid schemes and get wealthy fast schemes, amongst others.

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

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

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