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‘Islamic Coin’s Legitimacy as a Sharia-Compliant Cryptocurrency Is Proven by Its Fatwa’ — Co-Founder
10.9.2023
According to Mohammed AlKaff AlHashmi, the co-founder of “Islamic Coin,” Muslim scholars will increasingly view cryptocurrencies as being “Shariah-compliant” if they function as a store of value or are used as a medium of exchange. Alhashmi added that Islam’s...
Sharia-Compliant Islamic Coin Secures $200 Million in Funding From ABO Digital
29.6.2023
Islamic coin, a Sharia-compliant crypto asset, has secured $200 million from ABO Digital, which brings to $400 million the total funding that the project has received. The latest capital raise is expected to give the crypto project access to funding of up to $200 million as well as to ensure that...
Bakkt Shifts Focus to B2B Technology Solutions, Plans to Discontinue Consumer App
13.2.2023
Bakkt Holdings Inc. announced Monday that it will solely focus on business-to-business technology solutions and discontinue its consumer application. The company stated that the app will officially be discontinued on March 16, 2023, and app users will continue to have access to all of their assets....
SEC Will Use All Available Tools to Crack Down on Crypto Firms That Aren’t in Compliance With Its Rules, Says Chair Gensler
24.12.2022
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has revealed that the regulator will use all available tools to bring crypto platforms into compliance with its rules. In addition, the SEC chief said: “Proof of reserves is neither a full accounting of...
Digital Asset Exchange Coinmena Secures Provisional License Allowing It to Operate in the UAE
20.6.2022
Coinmena, the Bahrain-headquartered and sharia-compliant digital asset exchange, announced recently that it had secured a provisional virtual assets license from Dubai’s Virtual Assets Regulatory Authority (VARA). The license allows Coinmena to not only expand its activities but...
Robinhood Turns to Chainalysis to Boost Compliance Ahead of Crypto Wallet Launch
13.12.2021
Popular trading platform Robinhood has partnered with blockchain data platform Chainalysis to meet compliance requirements. Robinhood is preparing to launch its wallet, which has a waitlist of more than 1.6 million users. Robinhood Partners With Chainalysis for Compliance Blockchain data analytics...
Binance Makes Regulatory Compliance Top Priority as the Crypto Exchange Pivots Into Financial Services Company
19.8.2021
Global cryptocurrency exchange Binance has made regulatory compliance its top priority. The exchange is on a hiring spree to “significantly” add to its compliance and legal teams. “We are going through a pivot from a technology innovator into a financial services company, so...
South African Taxpayers Who Fail to Disclose Income From Cryptocurrency Trading Face Possible Jail Time
4.2.2021
According to a report, the South African Revenue Service (SARS) has sent out audit requests to taxpayers asking them to disclose their cryptocurrency trades and purchases. Taxpayers that fail to correctly disclose their income from bitcoin or other cryptocurrencies may be “liable to a fine...
A Look at Facebook’s Diem Wallet- Token Sale Accepts 3 Cryptos, Strict KYC, Hefty Data Collection
29.1.2021
During the last two years, there’s been a lot of interest in Facebook’s cryptocurrency diem (formally libra) and rumors of a nearing launch date went viral last November. Now the social media giant is advertising the crypto asset’s pre-sale heavily on the platform, as people...
Chinese state-endorsed public chain to act as a global DeFi bridge, says Conflux CEO
24.9.2020
Chinese Free Trade Zone is open to experimenting with permissionless DeFi applications
Advocacy Group Claims IRS-Issued Crypto-Warning Letters Violated Taxpayer’s Rights
14.7.2020
Close to a year ago last July, the U.S. Internal Revenue Service (IRS) revealed it would be sending ‘soft letters’ to suspected American cryptocurrency owners advising them to pay their taxes. Now according to the Taxpayer Advocate Service, a subsidiary of the IRS, the soft letters...
Malaysian Shariah Council Permits Cryptocurrency Investing and Trading
10.7.2020
The Shariah Advisory Council of Malaysia’s securities commission has advised that it is permissible to invest and trade cryptocurrencies on registered crypto exchanges. About 60% of the country’s population are Muslims, many of whom have been reluctant to trade crypto in fear that...
Sharia Compliance in Bitcoin – What It’s All About, and Why Exchanges Like Beldex Seek Muslim Traders
29.2.2020
Money is a critical part of everyone’s life, and for the religious it is even viewed as a matter of eternal consequence. While those on the outside may be unaware of the importance finance takes on in circles of faith, these beliefs nonetheless affect and impact the businesses and economies...