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Coinbase Slams US Treasury’s Proposed Requirement for Crypto Platforms to Report All Mixing Activities
23.1.2024
Coinbase has criticized the US Treasury’s proposed rulemaking on cryptocurrency mixing, stating that it fails to effectively address regulatory gaps while placing unnecessary burdens on crypto platforms. In a comment submitted to the Treasury Department’s Financial Crimes Enforcement...
Chainalysis Reveals Decline in Crypto Crime, Shift to Stablecoins in 2024 Crime Report
20.1.2024
Chainalysis’ latest report reveals a dual trend in the 2023 crypto crime landscape: a notable decrease in overall value of criminal transactions and a surprising shift from bitcoin to stablecoins as the preferred medium for illicit activities. 2024 Chainalysis Report Reveals a Decline...
China's Illegal Crypto Activities Are Taking Place in Laundromats and Cafes: WSJ
18.1.2024
Physical trading is most popular in China's inland, as places further from the coast are generally poorer so local governments are preoccupied with other matters
TUSD Says Recent Depegging is Related to Binance Launchpool Activities
18.1.2024
TrueUSD (TUSD) has clarified that the recent depegging of its value from the US dollar is associated with activities on Binance Launchpool. In a recent post on X (formerly Twitter), the TUSD team said they “have observed recent community mining activities associated with Binance Launchpool...
Tether Criticizes UN Report for Ignoring USDT’s Role in Helping Developing Economies
17.1.2024
Tether, the issuer of the stablecoin USDT, has blasted the findings of a United Nations Office on Drugs and Crime study which ignore the stablecoin’s “role in helping developing economies in emerging markets.” According to Tether, the stablecoin’s use of public...
South Korea Seeks Regulation Against Crypto Mixers Citing Illegal Use Cases
15.1.2024
Source: AdobeStock South Korean regulators seek to introduce new laws that would sanction the use of cryptocurrency mixers in the country to curb the rate of illicit financial activities. According to local news outlets, the Financial Intelligence Unit is considering rolling out new regulations...
Bitcoin Technical Analysis: BTC’s Subdued Start to the Week Amid US Market Closures
15.1.2024
Monday is anticipated to be a subdued day for trading activities, owing to the observance of Martin Luther King Jr. Day, resulting in the closure of the U.S. bond market, Nasdaq, and the New York Stock Exchange (NYSE). Over the past hour, bitcoin has been observed trading within the range...
Over $4 Million Worth of Assets Stolen By Solana Wallet Drainers: Scam Sniffer
15.1.2024
Source: AdobeStock / Tomasz Bidermann Blockchain security firm Scam Sniffer says over $4 million worth of digital assets have been stolen by Solana wallet drainers in phishing attacks in the past month. Solana users should be vigilant for phishing attacks In a recent report, the firm tracked...
Near Foundation Cuts Staff by 40%, CEO Says Organization Is in Good Financial Health
13.1.2024
The NEAR Foundation recently said it has let go of 35 workers as part of a realignment exercise that sees it “focus on a narrower and higher-impact set of activities.” The foundation’s CEO insisted that the job cuts did not in any way indicate that his organization was facing...
Genesis Global Trading Settles with NYDFS, Pays $8 Million Penalty, and Surrenders BitLicense
13.1.2024
Genesis Global Trading, a subsidiary of Digital Currency Group, has agreed to pay an $8 million penalty to the New York State Department of Financial Services (NYDFS) after settling allegations of compliance failures. The NYDFS accused the company of violating virtual currency and cybersecurity...
Domestic Exchanges Account for 99.7% of Brazilian Cross-border Crypto Trades – Central Bank
12.1.2024
Source: Alexey Novikov/Adobe Exchanges that buy coins overseas to sell on the domestic market account for most of Brazil’s cross-border crypto trade, a Central Bank report has found. The findings were published in an official post from the bank’s data analysis team. The authors reported...
British Actor Who Posed as HyperVerse CEO Apologises, Says He Was Not Aware of the Scam
11.1.2024
Source: a video screenshot, DST NATIONAL CHANNEL / YouTube Stephen Harrison, a British actor based in Thailand, has publicly apologized for his involvement in the HyperVerse cryptocurrency scandal. Harrison, who was paid to impersonate the CEO of the now-defunct crypto scheme, claims he was unaware...
Whale activities on Shiba Inu surge by more than 1,000%
10.1.2024
Shiba Inu is on a path to draw the potential pattern of going parabolic. The token is down due to the recent market crash, but whale activities signal that there could be an upward trajectory waiting to happen in the coming days. This is evident from the fact that the large investors, or whales...
‘Blockchain Basics Act’ Lands in Nebraska, 13 States to Introduce Crypto Legislation in 2024
8.1.2024
The Blockchain Basics Act, a bill that seeks to protect several blockchain-based activities from being outlawed by the U.S. government, has been introduced in Nebraska. Sponsored by Sen. Eliot Bolstar, the bill is similar to the one introduced in Missouri recently, and 11 more states are expected...
Passive Income with Cerra.io: Join the Future of Cardano DeFi:
5.1.2024
Cerra.io stands as a decentralised finance (DeFi) platform where users have ownership, fueled by the CERRA utility token, which operates on the Cardano blockchain. CERRA utility token serves as the primary catalyst for the Cerra.io economic activities and represents a share of ownership in...
South Korean Gaming Giant WeMade Must Pay $41M ‘Crypto Tax’ Bill
4.1.2024
Source: Zerbor/Adobe The South Korean gaming firm WeMade has been hit with a $41 million tax bill for its crypto-related activities. Yonhap reported that the National Tax Service (NTS) issued the bill following an investigation into the firm’s historic crypto business operations. The NTS said...
Wallet Drainers Make Off with $295 Million from 320,000 Users in 2023: Scam Sniffer
3.1.2024
Source: AdobeStock / Tomasz Bidermann Popular crypto phishing scams drained almost $300 million from 320,000 users in 2023 with figures increasing monthly as bad actors deploy sophisticated techniques. In a recent publication, cryptocurrency security firm, Scam Sniffers analyzed the market trends...
China Raises Alarm Over Corrupt Officials Exploiting Cold Storage Cryptocurrency for Illicit Cross-Border Transactions
2.1.2024
Image Source: Pexels Official Chinese media sources have raised concerns regarding the exploitation of cryptocurrencies by corrupt officials for illicit activities. The use of cold storage methods for cryptocurrencies, in particular, has become a cause for alarm as it allows these individuals...
Bitrace Report Examines Money Laundering with Stablecoins
27.12.2023
Source: iStock/kali9 A recent report by blockchain researcher Bitrace has shed light on the potential use of stablecoins in money laundering activities. The report, published on December 26 and translated by Wu Blockchain, highlighted two distinct scenarios in which stablecoins, specifically...
New EU Crypto Regulation Allow Governments to Freeze and Seize ‘Unexplained Wealth’ Believed Tied to Crime
26.12.2023
EU has passed expanded powers allowing governments to freeze and confiscate crypto tied to a crime. Image by Vitalii Vodolazskyi, Adobe Stock. European Union officials reached an agreement on December 12 on new crypto regulations that will grant member states expanded powers to freeze...