Cryptocurrency exchange Binance warned its community on Monday about a surge in fraudulent tokens falsely claiming affiliation with the platform, spreading across social media. The company emphasized that these tokens are neither endorsed nor authorized by Binance, potentially exposing users to scams and financial harm. “Please remember to verify information through our official channels. Be…
Russia’s governmental commission on electricity development approved cryptocurrency mining restrictions on Monday, set to take effect on Dec. 1 with subsequent enforcement covering Nov. 15 to March 15 annually through 2031. Deputy Energy Minister Yevgeny Grabchak confirmed the decision, which targets 13 regions, including Irkutsk, Buryatia, and Transbaikal, excluding Moscow. The extended enforcement periods were…
Grayscale Investments has finalized reverse share splits for its Bitcoin Mini Trust ETF (BTC) and Ethereum Mini Trust ETF (ETH), effective Nov. 19, 2024. These splits adjust share prices relative to their net asset values, with BTC shares increasing fivefold and ETH shares rising tenfold, while reducing the number of outstanding shares proportionally. Fractional shares…
Goldman Sachs is planning to spin off its digital assets platform into an independent company, aiming to enable large financial firms to create, trade, and settle instruments via blockchain. Mathew McDermott, Goldman’s global head of digital assets, revealed that the initiative is in early stages, with a spin-out goal set within 12 to 18 months,…
The U.S. Department of Justice (DOJ) announced Tuesday that Daren Li, a dual citizen of China and St. Kitts and Nevis, has pleaded guilty to conspiracy to commit money laundering, admitting to laundering over $73 million from cryptocurrency investment scams. Li, 41, operated through a network of shell companies, international bank accounts, and cryptocurrency, specifically…
The Hong Kong Monetary Authority (HKMA) has issued a warning about the misuse of the term “bank” by overseas crypto firms operating in Hong Kong, cautioning the public to verify the legitimacy of such claims. The HKMA observed that two crypto firms, which are not licensed banks in Hong Kong, misrepresented themselves — one by…
Russia’s issuance of digital financial assets could reach 10 trillion rubles (approximately $101.36 billion) by 2026, according to Sberbank Deputy Chairman Anatoly Popov. Speaking in Moscow, Popov noted that the current market volume for digital financial assets in Russia has already surpassed half a trillion rubles in 2024, reflecting significant growth. He projected that this…
A Norwegian expert committee advising lawmakers has recommended no immediate need to adopt a central bank digital currency (CBDC). Despite the declining use of cash, which dropped to just 2% of transactions at physical points of sale during the pandemic, the committee emphasized cash’s importance for secure and inclusive payments. It advised starting work on…
U.S. President-elect Donald Trump has announced that JPMorgan Chase CEO Jamie Dimon, a vocal crypto critic, will not be invited to join his administration. Trump wrote on his social media platform Truth Social on Thursday: “I respect Jamie Dimon, of JPMorgan Chase, greatly, but he will not be invited to be a part of the…
The U.S. Attorney’s Office in Manhattan will scale back its focus on cryptocurrency crimes after securing high-profile convictions, including FTX founder Sam Bankman-Fried (SBF), according to Scott Hartman, co-chief of the securities and commodities task force at the Southern District of New York (SDNY). Hartman noted that while crypto cases will not be ignored, fewer…
Investment firm Bernstein has urged India to recognize bitcoin as a strategic reserve asset, highlighting its potential as “digital gold” amid global financial risks like inflation, U.S. debt, and geopolitical instability. Bernstein argues that India’s current focus on central bank digital currencies (CBDCs) and its classification of bitcoin as a “private currency” overlook BTC’s key…
The UK government reportedly plans to unveil new cryptocurrency regulations this month, aiming to bolster the UK’s position as a global crypto hub amid increasing competition from the U.S., where recent policy shifts under Donald Trump favor the industry. The UK Treasury’s proposed legislation will cover stablecoins and seek a specific exemption for staking services,…
Sberbank CEO Herman Gref announced that using cryptocurrencies as a payment method within Russia is currently prohibited by law and is unlikely to be allowed in the near future. Speaking at the “FI day. Blockchain: on the edge of a new financial era” conference in Moscow, Gref clarified that while Russia’s new legislation permits the…
Authorities in Grant County, Indiana, have recovered $36,000 in a cryptocurrency scam involving Prateek Jain, a 33-year-old man from Kolkata, India. Jain faces charges of felony fraud and money laundering after allegedly convincing a Marion, Indiana resident to deposit funds into a bitcoin ATM as part of the scam. The case, initially reported to the…
The FBI reportedly raided the Manhattan apartment of Shayne Coplan, CEO of betting platform Polymarket, early Wednesday. The raid followed Polymarket’s accurate prediction of Donald Trump’s 2024 presidential victory, a result that contrasted with traditional polls. FBI agents seized Coplan’s phone and electronic devices, though he was not arrested or charged. A source close to…
China-Russia cooperation is helping to stabilize the region and avert a global crisis, according to Zhang Hong, a research fellow at the Chinese Academy of Social Sciences. Zhang emphasized that as permanent members of the UN Security Council, China and Russia are working together to uphold global peace and security through strong mutual trust and…
The use of national and alternative currencies in Russia-India trade has reached nearly 90%, according to Russian First Deputy Prime Minister Denis Manturov. Speaking at a Russian-Indian intergovernmental commission meeting, Manturov emphasized the importance of expanding banking cooperation between the two countries. Trade turnover between Russia and India rose 9% in the first eight months…
Blackrock’s spot bitcoin exchange-traded fund (ETF), the Ishares Bitcoin Trust (IBIT), launched in January, has now surpassed the Ishares Gold Trust (IAU) in assets under management (AUM). According to Factset, IBIT reached approximately $34.3 billion on Friday, overtaking IAU’s nearly $33 billion. This milestone follows President-elect Donald Trump’s victory, with Trump openly supporting cryptocurrency during…
Russia’s central bank reported a record high of $207.7 billion in gold reserves for October. Gold’s share in Russia’s total international reserves rose from 31.5% in September to 32.9%, the highest level since November 1999, when it reached 34%. Historically, the gold proportion peaked at 56.9% on Jan. 1, 1993, and dropped to a low…
A Danvers, Massachusetts man, Trung Nguyen, was convicted of money laundering and operating an unlicensed cryptocurrency business that converted over $1 million in cash to bitcoin. Through his company, National Vending, Nguyen ran a “no questions asked” cash-to-bitcoin service from 2017 to 2020, knowingly processing funds for criminals, including a meth dealer and romance scam…
A Pennsylvania State Police unit is advising the public of a new bitcoin scam targeting vulnerable individuals, particularly seniors. Scammers contact them through email, phone, or other electronic means, claiming there’s a fraudulent activity involving their personal information. Posing as representatives of the victim’s financial institution, these scammers then direct victims to contact a supposed…
The California Department of Financial Protection and Innovation (DFPI) has revoked Blockfi Lending LLC’s finance lending license for violations under California’s Financing Law (CFL). Blockfi agreed to the revocation and to halt certain practices deemed harmful, following an examination that revealed the company failed to assess borrowers’ repayment ability, charged interest before disbursement, neglected to…
The U.S. Department of Justice (DOJ) has launched a website to gather information from individuals affected by the 2016 Bitfinex hack, where approximately 120,000 BTC were stolen. The site provides a platform for potential victims to assert their rights under the Crime Victims’ Rights Act (CVRA) and submit statements detailing their losses. In 2016, defendant…
Grayscale Investments has announced plans for reverse share splits for its Grayscale Bitcoin Mini Trust ETF (Ticker: BTC) and Grayscale Ethereum Mini Trust ETF (Ticker: ETH). Effective at 5:00 pm ET on Nov. 19, the BTC fund will undergo a 1-for-5 split, while the ETH fund will undergo a 1-for-10 split. These adjustments are intended…
Germany’s economic troubles deepen as the ruling coalition disintegrates, exacerbating issues like shrinking investment and consumer confidence. Chancellor Olaf Scholz dismissed Finance Minister Christian Lindner, signaling a potential snap election. Germany’s economy, already struggling with high energy costs and lagging EU growth since 2018, is expected to contract for a second consecutive year, making it…
Swiss National Bank (SNB) Chairman Martin Schlegel has cautioned about cryptocurrencies like bitcoin and ether, describing them as volatile and energy-intensive, and highlighting links to illegal activities that complicate regulation. Speaking at an event hosted by Aargauische Kantonalbank in Brugg, Switzerland, Schlegel noted that, while virtual currencies have seen significant growth, they remain a “niche…
A Minnesota man, Joshua Paul Armbrust, 44, has been indicted for a “cryptojacking” scheme that exploited his former employer’s computing resources to mine ether (ETH), causing over $45,000 in damages, according to the U.S. Attorney’s Office for the District of Minnesota. Armbrust, who resigned from his job at Digital River, allegedly accessed the company’s Amazon…
The FBI’s Atlanta Division has warned that cybercriminals are bypassing multifactor authentication (MFA) by stealing “Remember-Me cookies” from victims’ computers. These cookies, which allow users to stay logged in without re-entering credentials or MFA, are commonly used when users select the “Remember this device” option. Once obtained, hackers can exploit these cookies to access victims’…
The California Department of Financial Protection and Innovation (DFPI) issued a Desist and Refrain Order on Monday to Trage Technologies Ltd., also known as Trage Tech, for alleged violations of securities laws. The DFPI claims that Trage Tech, which operates out of the Marshall Islands and Panama, promoted “Crypto Arbitrage Investment Packages” without proper registration….
The Pakistani government has proposed amendments to the State Bank of Pakistan (SBP) Act to recognize central bank digital currencies (CBDCs) as legal tender. These changes would authorize the central bank to issue, regulate, and manage digital currency in both digital and physical forms. The amendments expand Section 24 to include digital issuance alongside traditional…
The Bitcoin Policy Institute (BPI) has released a report advocating for a strategic bitcoin reserve (SBR) to strengthen U.S. economic stability and global influence. Titled “Digital Gold: Evaluating a Strategic Bitcoin Reserve for the United States,” the report argues that holding BTC could support U.S. monetary stability, counter global financial threats, and advance technological leadership….
Crypto exchange Binance has launched Binance Wealth, a crypto exchange solution specifically designed for wealth managers serving high-net-worth individuals. This innovative platform enables wealth managers to facilitate client investments in cryptocurrencies seamlessly. Binance Wealth integrates directly with the Binance platform, allowing wealth managers to handle client onboarding, including Know Your Customer (KYC) and Know Your…
On Friday, South Korea’s finance ministry announced plans to regulate cross-border transactions of virtual assets, including cryptocurrency, starting in the second half of 2025. The new regulations will mandate that businesses engaged in cross-border virtual asset trade register with authorities and submit monthly transaction reports to the Bank of Korea. The move follows significant concerns…
Utah Republican senator Mike Lee outlined three major regulatory risks to the cryptocurrency industry at the recent Permissionless III crypto conference. They are the creation of a central bank digital currency (CBDC), fragmented state regulations, and heavy federal oversight. He warned these could threaten the digital assets sector, saying, “Cryptocurrency is not a security. Cryptocurrency…
Metaplanet Inc., a company publicly listed on the Tokyo Stock Exchange, announced on Monday an additional purchase of 108.786 bitcoin for a total investment of 1 billion yen (approximately $6.7 million). The average purchase price was 9,192,359 yen per BTC. With this acquisition, Metaplanet’s total bitcoin holdings now stand at 639.503 bitcoin. The cumulative amount…
The U.S. Attorney’s Office and the FBI announced on Friday that Yanbing Chen, a 30-year-old from Brooklyn, N.Y., pleaded guilty to his involvement in an international money laundering and drug trafficking conspiracy. The organization, led by Jin Hua Zhang of Staten Island, laundered over $25 million in drug proceeds and illegal funds. Chen delivered $50,000…
Japan is reportedly set to review its cryptocurrency regulations, potentially reducing taxes on digital assets. The Financial Services Agency (FSA) plans to assess whether current crypto regulations under the payments act provide sufficient investor protection. The review may lead to reclassifying crypto as financial instruments under Japan’s investment law, which could enhance safeguards and bring…
Hillsborough and Campbell, California, residents have been alerted to a new email scam, according to local police departments. Scammers are sending emails containing personal details and photos of victims’ homes, threatening to release private information unless they pay $2,000 in bitcoin. The email warns recipients to pay “confidentiality charges” or risk having personal footage shared…
San Luis Obispo County Sheriff’s detectives in California, United States, have recovered nearly $5,000 of the $17,000 stolen in a cryptocurrency scam targeting victims in Los Osos two years ago. On Sept. 12, 2022, the victims informed authorities that they were deceived by a scammer posing as a relative in legal trouble, leading them to…
The Douglas County Sheriff’s Office has alerted Minden, Nevada, residents to a scam involving threatening emails aimed at extorting money through bitcoin. The emails claim to possess personal details such as the victim’s home address, phone number, and internet browsing history. The scammer threatens to expose the victim’s browsing history unless a ransom is paid…
Three former servicemen in India have lodged a complaint with the Chandannagar police, Pune, accusing eight officials from a trading firm of defrauding them of over Rs. 79.81 lakh (approximately $96,000) through a cryptocurrency scam since 2022. The ex-servicemen had invested their retirement savings in cryptocurrency, lured by promises of doubling their investment within 20…
The Moscow Exchange (MOEX), Russia’s largest securities marketplace, will not participate in an experimental program for cryptocurrency trading, as confirmed by Nikolai Trunichkin, head of digital projects at the exchange. This decision follows the Russian State Duma’s July approval of a legislative package to legalize digital currencies, allowing exchange trading under the oversight of the…
Westlake Police are cautioning residents about a rise in blackmail scam emails. Scammers claim they have been monitoring recipients’ online activities and demand payment, typically in bitcoin or gift cards, to prevent exposing personal internet habits. These emails may appear highly personalized, using details like the recipient’s name, address, or even attaching photos of their…
Two managers from the now-defunct crypto fraudulent investment platform Omegapro were arrested in Istanbul, according to Turkish media reports. Dutch executive Robert Velghe was arrested Tuesday, following the July arrest of Swedish co-founder Andreas Szakacs. Omegapro, founded in 2018 and registered in Saint Vincent and the Grenadines, allegedly defrauded investors out of $4 billion by…
UBS reported on Thursday that European real estate markets appear to be entering a new investment cycle, with key indicators pointing to stabilization. “A new cycle starts,” the report said, as investment volumes show signs of bottoming out. After a period of inflation and rising interest rates, the UK saw a 6.5% quarter-on-quarter growth in…
The United States, Japan, and the Republic of Korea (ROK) held their third Trilateral Diplomatic Working Group meeting on Friday in Seoul to address North Korean cyber threats. Led by U.S. Deputy Special Representative Seth Bailey, ROK’s Lee Jun-il, and Japan’s Kumagai Naoki, the meeting focused on North Korea’s cyber activities, including revenue generation through…
Eighty-eight business leaders, including Ripple co-founder Chris Larsen, have endorsed Vice President Kamala Harris for president, in a new letter shared by CNBC on Friday. Some crypto investors are puzzled by Larsen’s move, given the Biden administration’s stringent regulatory stance on cryptocurrency and its ongoing lawsuit against Ripple. The U.S. Securities and Exchange Commission (SEC)…
Zambia’s latest move to restrict foreign currency use in domestic transactions is aimed at stabilizing its currency, the kwacha, according to central bank Governor Denny Kalyalya. The Bank of Zambia announced this initiative in June and is still consulting market participants, with no set implementation date. Kalyalya highlighted that foreign currency use hinders effective monetary…
The United Arab Emirates (UAE) is committed to supporting the economic development of the Global South through its membership in the BRICS group, according to Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance. The UAE aims to foster cooperation among BRICS countries to achieve shared goals like financial stability, sustainable development, and enhanced…
Riot Platforms Inc., the largest shareholder of bitcoin mining firm Bitfarms Ltd. with a 19.9% stake, issued an open letter calling for significant changes to Bitfarms’ governance ahead of the Oct. 29 special meeting. Riot criticized recent board changes as insufficient, emphasizing the need for independent directors to enhance shareholder value. The letter highlights concerns…