Over the years, a growing demand for better and more precise regulation has been growing to help frame the increasing cryptocurrency industry. More recently, Senate Majority Leader Chuck Schumer, Senators Cynthia Lummis, and Tim Scott remain hopeful that substantive crypto legislation will be approved in the United States by the end of 2024. This has…
August 30, 2024 at 11:20 AM GST updated: August 30, 2024 at 11:12 AM 2 mins read News Australia now hosts more Bitcoin ATMs than Asia, ranking third globally with a rapid installation spree in 2023. Major Asian economies collectively host 355 crypto ATMs, while Australia has reached 364, highlighting a significant growth difference. Leaked…
The U.S. House Financial Services Committee already scheduled a series of comprehensive hearings on cryptocurrency regulation in September. This comes at a time when legislators have shifted their attention towards the growing products in the digital asset markets to provide better control. Emphasis on the Regulatory voids and threats As a result, the hearings will…
The global miners claimed that Russia was aiming to seek various cryptocurrencies as a way of circumventing the strict measures, such as sanctions, that were placed on the country as a result of the ongoing geopolitical conflicts, especially those concerning Ukraine. These sanctions have limited Russia’s ability to utilize the International Society for Worldwide Interbank…
 The fact that OpenSea, one of the biggest non-fungible token (NFT) market players, has received a Wells Notice, has caused a major stir. The action of the SEC can be seen to mean that the regulatory body is unlikely to take a lenient stance on NFTs going forward, though some insiders believe that the SEC…
The Hong Kong Monetary Authority has launched a sandbox to test the use of tokenized assets in real-world scenarios. The sandbox aims to promote interbank settlement using tokenized currency and central bank digital currencies. The HKMA will collaborate with other regulators and industry players to support the development of Hong Kong’s tokenization market. Testing Tokenized…
The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to Opensea, signaling potential enforcement action against the NFT marketplace. Opensea’s CEO criticized the SEC’s move, claiming it could negatively impact innovation and creators’ livelihoods. The platform is prepared to contest the action and has committed $5 million to support NFT creators facing…
 New Zealand has recently stepped up efforts to reign in the cryptocurrency industry with the help of a new bill designed to shed some light on how digital currencies should be taxed. New Zealand Crypto Bill captures the government’s actions towards cryptocurrencies, especially in trying to create an acceptable tax system.Here, you will discover what the…
In the latest events in the Celsius bankruptcy case, the plan administrator has now distributed over $2.5 billion to more than 251,000 creditors. There are still 121,000 qualified creditors who have yet to be able to claim their share correctly. The move came after the court gave a nod to Celsius’s reorganization plan about a…
As the United States and China start paying more attention to Bitcoin Strategies, the destiny of Bitcoin is to be connected with these geopolitical processes. In America, the regulators used the enforcement actions of the SEC along with future Bitcoin ETF approval, discussions in Congress, and other activities. These actions are intended to reduce uncertainty…
The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of qualified investors and would require testing for regulatory feasibility. Bank of Russia Explores Stablecoin Use for Cross-Border Transactions…
August 24, 2024 at 09:17 PM GST updated: August 24, 2024 at 07:58 PM 2 mins read News Tether’s strong ties with law enforcement led to the recovery of millions in USDT, curbing crypto crime globally. Tether’s market cap surged by $820M, showing its growing role in securing digital assets and battling crypto fraud. Pig-butchering…
Colombia’s Superintendency of Industry and Commerce (SIC) has served Worldcoin with a letter to the country’s data protection law. The issues concerning the privacy of the customers were also arising from how Worldcoin was collecting and processing personal data, the biometric data for that matter in the form of iris scans without appropriate authorization and…
The US Securities and Exchange Commission has firmly rejected Richard Heart’s attempt to throw out the $1 billion securities case against him. Richard Heart, the mastermind behind HEX, PulseChain, and PulseX, contended that the SEC had no authority over him, primarily due to his non-US residency and asserted the SEC did not show that any…
El Salvador’s government has introduced a certification program in crypto for all civil servants in the country. Lately, El Salvador has been cementing itself as the world’s leading bitcoin-integrated state by officially introducing a unique civil service bitcoin certification program. The National Bitcoiisffice (ONBTC) leads the effort, an arm of the government that has continued…
Changpeng Zhao, former CEO of Binance, is facing a class action lawsuit related to money laundering. Three crypto investors have claimed to have lost their digital assets due to the exchange’s failure to prevent money laundering. In a complaint filed on August 16, 2024, before the District Court for the Western District of Washington, Seattle,…
Nigeria’s Securities and Exchange Commission (SEC) has announced that it has not yet issued any crypto licenses, contrary to some reports. The SEC plans to start issuing licenses for digital services and tokenized assets in August 2024. This move follows increased scrutiny of crypto exchanges and a push to regulate the industry, including a mandate…
China updates AML laws to include virtual asset transactions as a recognized money laundering method. Revised guidelines target illicit activities, like money laundering, in virtual asset transactions. The Chinese Police detained six people in connection with a money-laundering case worth over 2 Billion yuan. China is among the leading economies in the world that have…
The International Monetary Fund (IMF) has recently declared that increasing the taxes for electricity usage in crypto-mining could help to curb the global carbon footprint. The IMF has proposed an 85% tax hike to cut on global carbon emissions. The agency came up with thought-provoking revelations in its recent blog post. The International Monetary Fund…