702:Tether's Counter-Terror Move, Basel's Bank Disclosure, and Binance's UK Struggles

Episode 702:

Stablecoin Watch (Tether) - (00:57-04:05) - Tether froze $835M in assets linked to terrorism in The Republic of Korea and Ukraine. The move involves 32 crypto addresses and is part of a larger effort to curb illegal activities. The action highlights blockchain's traceability and challenges the idea that crypto is anonymous.

Banks' Crypto Disclosure 2025 - (04:05-06:51) - The Basel Committee is tightening its grip on banks, mandating crypto activity disclosures by 2025. Aimed at increasing transparency and market discipline, this aligns with similar initiatives in the European Union.

Binance Halts UK User Onboarding - (06:51-10:13) - Binance has temporarily ceased new user registrations in the UK due to FCA regulations. Existing users can continue trading, but won't have access to new services. This underscores the increasing regulatory scrutiny on crypto exchanges.

Genesis's Subpoena Showdown - (10:13-12:24) - Crypto lender Genesis faces a five-day deadline to respond to a subpoena tied to Terraform Labs. This legal directive is part of a larger narrative involving increased scrutiny within the crypto sector.

Gensler's AI Economy Alert - (12:24-15:41) - SEC Chair Gary Gensler warns of a potential financial crisis from unchecked AI use, especially in the financial sector. He emphasizes the risks associated with centralized AI systems and calls for comprehensive regulations.

Coinbase's Delisting Spree - (15:41-18:12) - Coinbase delisted 80 non-USD pairs to improve liquidity. This move, affecting assets like Bitcoin and Tether, is part of a broader trend among exchanges to refine their platforms and focus on more liquid trading pairs.

Crypto Overnighter Podcast (10/17/2023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

Email: nick@cryptoovernighter.com

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