Cryptocurrency Daily Roundup – May 23

Here is a summary of some of the select stories on cryptocurrency and blockchain during the past 24 hours.

New York Supreme Court Grants Bitfinex Stay Of Document Demands From NYAG

Cryptocurrency exchange Bitfinex, and its affiliated stablecoin issuer Tether, announced that the New York Supreme Court has granted its motion for an immediate stay of the document demands from the New York Attorney General’s or NYAG office. Bitfinex and Tether, who were involved in a legal battle with NYAG, had filed a motion on the previous day to dismiss the proceeding brought by the NYAG office.

Japan Targets Crypto Exchanges As It Toughens Money Laundering Policies

Japanese Financial Services Agency or FSA is targeting cryptocurrency exchanges as it steps up countermeasures for money laundering, the Nikkei Asian Review reported. The regulator will be checking companies that offer anonymous transactions or have weak identity verification practices.

Coinbase Commerce Adds Support For USDC Stablecoin

Coinbase Commerce, the PayPal-like payment service for cryptocurrencies by the U.S.-based cryptocurrency exchange Coinbase, added support for USD Coin (USDC) stablecoin on its payment service platform. Businesses of merchants can now accept USDC stablecoin using the platform. USDC is a 1:1 US dollar-backed stablecoin brought to you by Circle and Coinbase.

BlockFi Cuts Interest Rates On Ether Deposits

The Cryptocurrency asset management startup BlockFi is reducing the interest rate it offers on ether (ETH) deposits to 3.25 percent annual percentage yield (APY) from the current rate of 6.2 percent. The interest rate is being slashed by nearly half for customers with 25-100 ETH balances in their BlockFi Interest Account (BIA). Those holding more than 100 ETH balances will be eligible for just 0.2 percent APY.

Current Prices

As of this writing, Bitcoin is down 1.88 percent or $148.12 at $7758.82 on Coinbase. Ethereum is declining 4.11 percent or $10.40 at $242.69.

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