Cryptocurrencies, for as long as their inception, have felt nothing like the decentralized finance solution that people were waiting for. Instead, it turned out to be a glorified investment. Similar to most other types of assets that people can invest in, cryptocurrencies have long been just an investment. But as the crypto market starts to…
The people of Turkey who have been part of the cryptocurrency industry are now aiming to take things to the next level. The country is aiming to take its cryptocurrency ecosystem to the next level. Turkey Aims to Buy the Dip Just when the entire cryptocurrency industry is afraid of buying more into cryptocurrencies due…
The US Securities and Exchange Commission (SEC) is at it again as it is going against two cryptocurrency firms that are now defunct. However, given the nature of the lawsuit, it is justified why the US SEC is going after these firms and their executives. Pump and Dump Scam The US SEC has reportedly alleged…
The Investor Protection Unit of the Department of Justice in Delaware has issued a cease and desist order for a total of 23 individuals and entities that were involved in a popular crypto scam. This scam has come to be known as ‘pig butchering’ and the order also froze the accounts of the said entities…
State-issued digital currencies were used to conduct cross-border settlements by the monetary authorities of four Asian jurisdictions in a test. The Bank for International Settlements (BIS) also participated in the pilot project, which saw transactions of about $22 million conducted, which involved foreign exchange and cross-border payments. The trial The monetary regulators of the United…
A digital bank based in Brazil, Nubank recently announced that it had achieved a new milestone. According to the institutions, it now has about 70 million customers in the Latin American region. This makes it one of the biggest financial digital bank to exist in Brazil. Moreover, it also disclosed that about 2 million of…
Local media reported that the South Korean government has seized crypto assets valued at approximately $184 million in tax arrears in the last two years. The authorities in Seoul had first begun their confiscation of digital assets from those accused of evading taxes back in 2021. Tax evasion Reports on Thursday revealed that South Koreans…
The US district judge has recently authorized the Internal Revenue Service (IRS) to make its move against a certain group of cryptocurrency investors. The particular group in question are the tax evaders who generate their revenues from cryptocurrencies. The Reason behind the Decision A significant rise has been witnessed in the adoption of cryptocurrencies in…
The Securities and Exchange Commission (SEC) in Thailand has proposed that a ban be imposed on crypto lending and staking activities and that people not be permitted to engage in them. The regular has now opened up the proposal for comments from the public and also noted that the reason behind the ban would be…
The head of the Russian government instructed the finance ministry and central bank in Moscow to come to an agreement on how to develop the digital asset market in Russia by December 1st. They should also work with other regulators in order to develop common legislation that can be used for regulating the digital asset…
The Financial Services Regulatory Authority (FSRA) is the financial regulator for the Abu Dhabi Global Market. It recently disclosed six principles that will be used for developing regulations for virtual assets and their supervision. While the FSRA said that these principles would not be legally binding, they should be regarded as a complement to the…
The chairman of the US Securities and Exchange Commission (SEC) has instructed his staff to begin fine-tuning compliance for crypto intermediaries and tokens. According to the SEC chair, most of the crypto tokens that are in circulation are categorized as securities. Crypto tokens are securities Last Thursday, there was an SEC Speaks conference at the…
Last week, the tax authority in Argentina (AFIP) discovered three different clandestine crypto mining operations, which were located in the city of Cordoba and San Juan. Just one of these mining farms had mining equipment worth $600,000 and the institution was able to track them due to the high electricity consumption. Illegal crypto mining The…
A set of crypto regulations has been finalized by the government of Iran. A government official said that the administration had ratified a ‘comprehensive and detailed’ law. It is aimed at providing a regulatory framework for crypto, which includes their mining and authorized usage. Crypto regulations in Iran The Industry, Mines, and Trade Minister of…
The privacy token Monero was among the top performers in the crypto space over the previous 24 hours, recorded massive uptrends. Liquidity squeeze triggered by some XMR traders attributed to the recent gains by the alt. XRM gained around 10% within the last day to explore $267.65, the highest mark since October. Also, the token’s…
The cryptocurrency market continued with upward movements. The world’s oldest digital coin, Bitcoin, gained more than 3% over the past day, trading around $44,811.17. Let us check the day’s losers and gainers. The global crypto market capitalized gained 1.15% within the past 24 hours towards $2.02 trillion. Meanwhile, trading volume dropped by 24.77% to $77.78…
Most top alt, including DOGE, MATIC, LUNA, and DOT, gained more than 15% over the week. Meanwhile, Near Protocol saw its native coin NEAR surging over 35% as the Layer1 network witnessed intensified competition. Bitcoin noted a tide shift this week, rising past the psychological level of $42,000. That comes after the leading crypto lost…
Binance CEO, Changpeng Zhao, took to Twitter to reveal that the company that they registered with Canadian authorities had been approved. The company named Binance Canada Capital Markets has been licensed to operate a list of financial services. The license gives the company rights to operate for the next 3 years. Binance is expanding its…
Eswar Prasad, a professor and author at Cornell, has disclosed that the primary cryptocurrency, Bitcoin, may not endure for long. The academic who authored a book on the digital asset revolution disclosed this in an interview with CNBC. Ever since it hit its current ATH in October, Bitcoin has been going through a bearish spell…
The UK’s MPs (Members of Parliament) have requested the FCA (Financial Conduct Authority) to restrict the utilization of the terms “investment” and “invest” by crypto companies for promotional objectives. As per a report published on 9th December by The Times, it was informed by the treasury select committee’s MPs to Nikhil Rathi (the chief of…
The Federal Bureau of Investigation took up to $2M value in digital assets connected to ransomware outbreaks carried out by Aleksandr Sikerin (a Russian citizen). The respective criminal is well-known for having an attachment with REvil (a notorious gang involved in cybercrimes having assaulted numerous businesses across the United States during recent times. REvil comes…
World Trade Centre in Dubai is going to host crypto within by transforming itself into a “Crypto Zone” – a place exclusively for cryptocurrencies and crypto service providers. For commencing the project, Dubai has sought assistance from known crypto exchanges and the first exchange which has assured its services for the completion of the project…
The President of the United States, Joe Biden, has tipped the Chairman of the Federal Reserve, Jerome Powell to serve another tenure of four years as the Chairman of the Board of Governors of the Federal Reserve System. The announcement was made on Monday at the White House by President Biden that Jerome will be…
“None of the unauthorized or non-licensed or illegal crypto miners will be spared in Russia as the state authorities have been empowered under the new law to arrest them, prosecute them and send them to jails for serving imprisonment”, says a lawmaker from the Russian Federation. The lawmaker adds further that even those miners who…
A leading economist at the International Monetary Fund (IMF), Gita Gopinath, talking at a summit organized by a non-profit economic research institute in India, pushed developing countries to create homogeneous regulations for crypto rather than a ban on the technology. She, however, agreed that the matter of cryptocurrency regulation is a complicated topic. She noted…
