OFAC (Office of Foreign Assets Control) stated on Friday that an Irish person assisted wealthy individuals from Russia in evading sanctions and concealing their money in the United Arab Emirates (UAE). In simpler terms, according to OFAC, an Irish national helped rich Russians avoid sanctions and keep their money hidden in the UAE. The Office…
A new bipartisan effort, led by lawmakers Tom Emmer and Darren Soto, aims to address legal disputes between the SEC and crypto organizations by reintroducing the Securities Clarity Act. The Securities Clarity Act, first introduced in 2020, seeks to establish clear distinctions between commodities and securities, improving regulatory laws related to digital assets. Emmer believes…
Coinbase praises Canada’s approach to cryptocurrencies, which includes making PRU (Product Regulatory Framework) mandatory. This move has resulted in Binance leaving the country. Coinbase, a well-known cryptocurrency exchange, has expressed its approval of Canada’s approach. They appreciate the country’s clear regulations and the opportunity for companies to collaborate with regulators. On the other hand, Coinbase…
Binance Stops AUD Fiat Services in Australia, Despite the Country’s Crypto-Friendly Reputation. Cuscal, the payments provider for Binance Australia, indicated that the choice to halt its services was influenced by concerns related to scams and fraud. These concerns are associated with activities like account fraud, identity theft, and cryptocurrency transactions. In an unexpected development, Binance…
The company wants to take advantage of Hong Kong’s renewed potential as a crypto hub, as the city works on creating clear rules for digital assets. According to a report from Bloomberg on Friday, HashKey Group, a company that provides financial services for digital assets, is planning to raise funds with a valuation of $1…
Coinbase Cloud, the cloud services division of the popular crypto exchange, has teamed up with Chainlink Network to strengthen its involvement in the decentralized space. In their collaboration, Coinbase Cloud will take on the role of a node operator, utilizing their expertise and infrastructure to support the operations of the Chainlink Network. This partnership aims…
Binance Australia faces deposit issues due to a payment provider’s decision. Users cannot use PayID AUD deposits for now. Binance is searching for a solution. Meanwhile, users can use credit or debit cards for crypto transactions. The service provider executive warns about scammers using foreign exchanges. Binance Australia Seeks New Payment Provider: Binance Australia temporarily…
Custodia Bank has not yet launched its Bitcoin custody service. Custodia Bank is currently not offering its Bitcoin custody service. During a Bitcoin 2023 panel, prominent figures such as Caitlin Long, the CEO of Custodia Bank, and Dylan LeClair, the Head of Market Research at Bitcoin Magazine, among others, made appearances. Caitlin Long specifically shared…
“Coinbase Enables USDC Trading and Offers Rewards for Holding” Coinbase, a popular cryptocurrency exchange, has announced an upcoming feature that will allow users to trade using USDC. This feature will provide faster trading and a more rewarding experience for users. More USDC trading pairs means a faster and more rewarding Advanced Trade experience. See what…
Ripple CEO, Brad Garlinghouse, expressed concern that unclear regulations in the United States are causing cryptocurrency companies to leave the country. Ripple CEO, Brad Garlinghouse, stated that the unclear regulations in the US will lead to more cryptocurrency companies relocating away from the country. This is because firms like Ripple are actively seeking opportunities for…
Visa tests Ethereum Account Abstraction and ERC-4337 for crypto payments using two Paymaster contracts on the Goerli testnet. Visa, a major payments company, is actively exploring digital asset payments and innovative technologies to make crypto transactions easier and more seamless. After studying Account Abstraction for secure automatic recurring payments on self-custodial wallets, Visa is now…
Bitgert Aims to Revolutionize Real Estate Deals Bitgert Releases Video Showcasing Marketplace Interface People have been wanting changes in the real estate industry for a while now. The traditional way of buying and selling properties can be slow and expensive. A new marketplace called Bitgert Geo Web3 Real Estate Marketplace has emerged, offering a decentralized…
Render Token (RNDR) Leads in Price Surge as Crypto Market Shows Signs of Recovery The total value of the global cryptocurrency market has been unstable in the past month. On May 12, it reached a low point of $1.09 trillion. However, just three days later, it made a recovery and rose to nearly $1.15 trillion,…
Binance Partners with TradingView for Enhanced Trading Experience The biggest cryptocurrency exchange in the world, Binance, continues to introduce new ideas and advancements in the crypto industry. Binance has announced its integration with the widely-used data and analysis platform TradingView, making it convenient for users to trade cryptocurrencies. Binance has made it possible for…
Singapore’s Prominent Family Firm, Whampoa Group, Plans to Establish Cryptocurrency Bank Whampoa Group, a top multi-family company in Singapore, intends to set up a cryptocurrency bank in Bahrain. The bank will offer round-the-clock payment and settlement services for digital asset businesses. Whampoa Group Establishes Cryptocurrency Bank in Bahrain Whampoa Group plans to launch a cryptocurrency…
The company will also demonstrate a product that allows real estate assets to be converted into digital tokens as part of Hong Kong Monetary Authority’s e-HKD pilot program. Users can manage and customize the entire life cycle of the CBDC, including minting, distribution, redemption and destruction. (Ripple Labs) Ripple is launching a platform that enables…
Head of Global Financial Crimes Watchdog Urges G-7 Leaders to Implement Anti-Money Laundering Rules for Cryptocurrency. The president of the global financial crimes watchdog has called on the advanced economies of the Group of Seven (G-7) to lead the way in fighting against illegal financial activities in the cryptocurrency space. This can be achieved by…
The Finance Minister and officials from the central bank of the country expressed unfavorable views on cryptocurrencies during their statements to the press. During a statement to the press, Pakistani Finance Minister Aisha Ghaus Pasha made a series of remarks regarding cryptocurrencies. The minister firmly stated that digital assets would never be deemed legal within…
Over the last 24 hours, NFT transactions amounted to approximately $2 million in value. Buys and sells of Bitcoin Frogs-source: (CryptoSlam) Bitcoin Frogs, a recently introduced collection of non-fungible tokens (NFTs) featuring frog designs, has emerged as the most-traded collection in the last 24 hours. It has surpassed popular collections like Bored Apes in terms…
The purpose of the discussion was to enhance decentralization within the dYdX ecosystem in preparation for its v4 upgrade. DYdX, the decentralized platform famous for its perpetual contracts, is currently exploring the idea of establishing additional subDAOs to further decentralize the management of its ecosystem. A recent post by Fox Labs Digital, an Australian marketing…
Binance Australia reassures users, says they’re actively searching for a new option to keep AUD deposits and withdrawals available. Binance Australia, the Australian branch of the largest cryptocurrency exchange, announced on Thursday that it has temporarily suspended its services involving the Australian dollar (AUD). They explained that this decision was prompted by actions taken by…
Metaco will keep working independently with its own team, led by CEO and founder Adrien Treccani. Ripple, a blockchain company, has bought a Swiss crypto storage company called Metaco for $250 million, according to a statement released on Wednesday. By acquiring Metaco, Ripple will be able to expand its services and use their technology to…
Coinbase Expands Globally Amid SEC Crackdown, Receives Singapore MAS Clearance. Following the SEC’s denial to provide clarity on crypto regulations, Coinbase is considering Singapore as a new focus. Due to the unclear cryptocurrency laws in the US, CEO Brian Armstrong is exploring the possibility of relocating the company’s headquarters to the Bahamas, the United Arab…
Gruenberg Raises Concerns about Crypto in Prudential Regulators Hearing Former SVB CEO Attributes Failures to Rising Interest Rates The failure of Signature Bank was primarily attributed to inadequate management and insufficient liquidity. FDIC Chairman Martin Gruenberg, however, believes that the bank should have been more aware of the risks associated with cryptocurrencies, as it could…
UK Treasury Committee Comprised of Parliament Members. Cryptocurrency Gaming Winnings to Face Highest Tax Rate. A UK regulatory group, the Treasury Select Committee, composed of members of Parliament, has released a report stating that unbacked cryptocurrencies like Bitcoin (BTC) should be treated as gambling for retail investors. The committee “strongly recommends” adopting this approach in…
Feeless ETH opens new possibilities. Crypto community anticipates feeless ETH launch. A revolutionary development in crypto transactions has arrived. A new way to buy and sell Ethereum (ETH) has emerged, offering a remarkable feature – no fees. This innovation has the potential to transform how people interact with and use this popular cryptocurrency. ETH with…
A little over half of the companies included in the survey participated by offering either complete or partial responses. Coinbase, Circle, and Ripple have confirmed that they undergo yearly audits conducted by Deloitte. According to reports, Bloomberg News conducted a survey involving 60 popular cryptocurrency companies. The survey included various types of entities such as…
The EU’s Council has given its final approval to the groundbreaking regulation called “Markets in Crypto Assets.” Additionally, they have agreed on a new law to share information about taxes on cryptocurrency holdings. On Tuesday, the finance ministers of the European Union (EU) approved significant new rules for cryptocurrencies. These rules are considered a major…
Polygon Co-founder Highlights Top Active Wallets for ERC-4337. Polygon Records 4,000 Active Wallets in April, Revealing Growing User Engagement. Polygon Co-founder Sandeep Nailwal Shares Yearly Nifty Chart for Ethereum’s ERC-4337 Wallets, Providing Monthly Insights. https://twitter.com/sandeepnailwal/status/1658184083690643464 The ERC-4337 (also known as EIP-4337) operates on the Polygon blockchain and offers developers the ability to achieve account abstraction….
Paul Grewal, Coinbase’s chief legal officer, expressed his concerns about the SEC’s response, stating that they are willing to responsibly regulate and supervise the sector instead of relying solely on enforcement measures. The U.S. Securities and Exchange Commission (SEC) has responded formally in court to Coinbase’s request for clear cryptocurrency regulations. The SEC stated that…
The crypto lender, which is facing bankruptcy, has been transferring its large amount of staked Ethereum. It seems that the troubled crypto lender, Celsius, is swiftly moving its Ethereum staking tokens away from the liquid staking platform Lido, which has recently allowed for withdrawals. On May 15, a transaction was noticed on Celsius wallets, involving…
Matrixport and Copper’s ClearLoop are collaborating to provide institutional clients with off-exchange settlement services. Crypto service provider Matrixport is partnering with crypto custodian Copper to improve its clients’ access to prime brokerage services, as announced in a press release. In their collaboration, Matrixport will integrate with Copper’s ClearLoop to provide institutional clients with off-exchange settlement…
The recent increase in weekly decentralized exchange (DEX) trading volume on the BNB chain can be attributed to lower fees and the growing popularity of Binance, according to market analysts. Data source: (DeFiLlama) Data from DefiLlama shows that the weekly trading volume of decentralized exchanges (DEX) on Binance’s BNB Chain has reached its highest level…
According to court documents, the legal actions taken against the bankrupt crypto lender’s business partners are expected to have a significant impact, exceeding $1 billion, on the creditors. Based on court documents, the legal actions pursued against the bankrupt crypto lender’s business partners are anticipated to greatly benefit the creditors, surpassing $1 billion in impact….
This move is one of the biggest fund transfers for Celsius Network since it sought bankruptcy protection in July. Celsius ETH staking with Figment – source (Arkham Intelligence) Celsius Network, a troubled cryptocurrency lender, used Figment, a professional staking service, to stake approximately $75 million worth of ether (ETH) last week, according to blockchain data….
Representatives from the seven advanced economies showed they are dedicated to following the rules set by organizations like the FSB and IMF regarding cryptocurrencies and digital currencies issued by central banks. The G-7, a group of seven countries that work together on global issues, has shown that it is dedicated to using the rules that…
There have been reports of issues with withdrawing funds on Coinbase, a widely used cryptocurrency exchange. Coinbase, a major cryptocurrency exchange, stated that customers from the UK and Canada experienced difficulties in withdrawing funds to their PayPal accounts. The company acknowledged the issue and mentioned that they are currently working on resolving it. As per…
Ethereum network faced another incident within 24 hours. Blocks were proposed but not validated for 25 minutes. Ethereum, the second largest blockchain by cryptocurrency market value, experienced a technical issue on Friday. This issue caused a delay in the finalization of blocks on the network for nearly an hour. The Ethereum Foundation explained that to…
The creditors will be compensated with a monetary amount equivalent to the value of their lost cryptocurrency assets as of April 15, 2019. Creditors of QuadrigaCX, the bankrupt Canadian crypto exchange, will be paid an “interim dividend” amounting to 13% of their total claims. Ernst & Young (EY), the bankruptcy trustee overseeing the process, informed…
Valkyrie, a company that manages assets, has recently submitted an application for a futures ETF focused on Ethereum (ETH). This ETF, called Valkyrie Ethereum Strategy ETF, aims to track the performance of Ethereum, which is the second-largest cryptocurrency in the world. While there is limited information available about the fund’s specifics, Valkyrie Digital Assets specializes…
Binance, the biggest cryptocurrency exchange worldwide, has decided to leave Canada. They made this decision because of new rules about stablecoins (a type of cryptocurrency tied to a stable asset) and limits on how much investors can participate. Binance, a crypto exchange, has said it will stop working in Canada because the rules and regulations…
Florida Governor Ron DeSantis has issued a ban on the use of Central Bank Digital Currencies (CBDCs) in the state. In a surprising move, Florida Governor Ron DeSantis has implemented a ban on the creation and usage of Central Bank Digital Currencies (CBDCs) in the state. This decision also safeguards Florida residents from the forthcoming…
Binance Turkey Hosts First Meeting with Entrepreneurs at Ankara Technopark. During the event, various subjects were discussed, including the crypto ecosystem and Web3. Attendees were introduced to Binance’s startup support initiative, Binance Labs. Binance Labs Investment Manager, Alex Odagiu, joined the meeting virtually and provided insights on Binance Labs’ projects. During the event at Ankara…
Coinbase CEO Brian Armstrong and Ripple CEO Brad Garlinghouse Share Thoughts on US Regulation at Dubai Fintech Summit. Saqr Ereiqat, co-founder of Crypto Oasis, Highlights United Arab Emirates’ Favorable Infrastructure for Crypto Businesses at Dubai Fintech Summit. In a conversation with Cointelegraph, Saqr Ereiqat emphasized the key factors businesses should consider when choosing a location…
Proposed EU Laws Mandate Crypto Companies, Including Non-Fungible Tokens (NFTs), to Register with Tax Authorities, Regardless of Location EU Draft Bill Requires Crypto Companies to Disclose Client Holdings to Tax Authorities, Reveals Freedom of Information Release EU Finance Ministers Set to Approve Data-Sharing Law for Crypto Companies, Modeled after OECD, Allowing Inter-Bloc Data Exchange. Some…
In response to mounting regulatory scrutiny from U.S. authorities, Binance.US and Changpeng Zhao (CZ) are actively seeking to reduce CZ’s majority stake and diminish his influence over the cryptocurrency exchange. To mitigate unnecessary regulatory scrutiny: To address the growing regulatory scrutiny faced by Binance.US, the exchange and its founder, CZ, are reportedly exploring avenues to…
During the summit hosted by the Financial Times, a representative from Binance expressed their willingness to embrace and comply with cryptocurrency regulations in the nation. As the future of cryptocurrency regulation in the United States, the world’s largest financial center, remains uncertain, attention has shifted to the United Kingdom, where ongoing efforts have captured the…
A new initiative in the United Arab Emirates (UAE) aims to construct two large facilities for cryptocurrency mining. These advanced data centers will use a special cooling method called full immersion due to the hot desert climate, which makes traditional air cooling impractical for mining operations. Cutting-Edge Crypto Mining Centers in Abu Dhabi Overcome Cooling…
Since the summer of 2022, Binance CEO Zhao Changpeng, commonly known as CZ, has been making efforts to sell a portion of his shares in an attempt to improve the company’s perception among U.S. authorities. According to a report by The Information, Binance.US, along with its founder, majority shareholder, and chairman, Changpeng Zhao, is actively…
Standard Chartered Bank has announced its intention to provide high-quality custody services for digital assets in Dubai. This service will be offered through its subsidiary, Zodia Custody, pending approval from regulatory authorities. Just three months after finalizing an agreement with SBI Digital Asset Holdings in Japan to establish a cryptocurrency custody platform, Standard Chartered, a…