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The Rise of Cryptocurrencies in Arab Countries: Understanding Saudi Arabia's Latest Move
6.6.2023
With cryptocurrencies increasingly gaining a foothold across the Arab world, some industry analysts are examining how Saudi Arabia’s plan to join China’s New Development Bank, also known as the BRICS bank, could impact on diversifying the kingdom’s financial environment. ...
Read More: The Rise...
Breaking: Coinbase Sued by SEC Just a Day After Binance Lawsuit – Which Firm is Next?
6.6.2023
The US Securities and Exchange Commission threw a one-two punch to cryptocurrency exchanges this week, charging yet another exchange, Coinbase, Inc., on Tuesday.
The regulator said that Coinbase was operating its platform and was not registered in the capacity of an exchange, broker or clearing...
Binance Sees $700 Million in Ethereum Outflows Amid SEC Charges, Highest Since March Crypto Crisis
6.6.2023
The world’s largest crypto exchange, Binance, saw outflows of more than $700 million on the Ethereum network alone on Monday after news broke that the exchange is being sued by the US Securities and Exchange Commission (SEC).
The news of the outflows was shared by on-chain analysis platform Nansen...
Russian P2P Crypto Market Is ‘Worth $296m a Day’ – Are Banks in Danger?
6.6.2023
The Russian P2P (peer-to-peer) crypto market is growing at a rapid pace, with a report claiming vendors can access “$296 million” worth of trades per day.
Per RB, the claim was made by Schard, a cryptoasset security platform, at a blockchain conference operated by the Russian banking giant Sber....
US CFTC Chair Behnam, Coinbase Chief Legal Among Others To Testify at House Hearing
6.6.2023
The US Commodity Futures Trading Commission Chair Rostin Behnam, Coinbase’s Chief Legal Officer Paul Grewal and a slew of former regulators are set to testify Tuesday morning in front of a US congressional committee.
The House Agriculture Committee will meet to discuss legislation to regulate...
Russia’s Rosbank Begins ‘Int’l Crypto Pay Pilot’ – Banks Joining Government’s Crypto Plan?
6.6.2023
The Russian megabank Rosbank says it has launched a “cross-border crypto payments” pilot.
Per RBC, Rosbank has become the “first major” Russian bank to launch cross-border payments services “in cryptocurrency.”
The bank has teamed up with a local crypto firm named B-Crypto for its initiative....
The US SEC Sued Binance and CZ on Monday — What’s in the Complaint?
5.6.2023
A complaint by the US Securities and Exchange Commission filed against Binance and its CEO Changpeng Zhao unveiled a mix of stark revelations about the world’s largest crypto exchange from evading US laws to internal conversations about Binance.US.
The SEC sued Binance and Changpeng Zhao, also...
China's Web3 Stance: A Glimpse into the Future?
5.6.2023
China's perspective on web3 has come to light through a recently released white paper that suggests China is open to incorporating web3 into its future internet.
In the paper, the term “Internet 3.0” is defined as a "three-dimensional space that combines virtual and real realms with a highly...
Bitcoin Developers Divided Over How to Deal with Meme Coin Explosion – What's Going On?
5.6.2023
While many celebrate Bitcoin (BTC)’s plethora of new applications related to its new “Ordinals” protocol, developers maintaining the network’s source code are in disarray on the matter.
Critics claim that new types of transactions beyond simple Bitcoin transactions are clogging the blockchain...
Japan Blockchain Week 2023 Receives Backing from the Ministry of Economy, Trade and Industry
5.6.2023
The Japan Blockchain Week 2023 in Tokyo will commence on June 18 to July 9, 2023. And according to the Chainwire report, the Japanese Ministry of Economy, Trade and Industry (METI) is backing this year’s edition.
This development comes amid the growing need for clearer regulatory pathways...
Crypto Prices crashing after SEC Sues Binance, These Presales Still Pumping – Here's Why
5.6.2023
Cryptocurrency markets just experienced a big intraday drop in response to the US Securities and Exchange Commission (SEC) revealing that it has sued Binance, its US subsidiary Binance.US and the exchange’s founder Changpeng Zhao (CZ).
Bitcoin (BTC) was last trading close to 5% lower on the day...
Binance Plans To Fight ‘To the Full Extent of the Law’ Following SEC Charges
5.6.2023
Binance said the US Securities and Exchange Commission’s 13 charges against it and its CEO Changpeng Zhao are “just another example of the Commission’s misguided and conscious refusal to provide much-needed clarity and guidance,” to the crypto industry. ...
Read More: Binance Plans To Fight ‘To...
SEC Sues Binance and CZ Over ’Blantant Disregard” of Its Rules
5.6.2023
Binance Holdings Ltd., and its US affiliates, are being charged by the US Securities and Exchange Commission for multiple offenses, months after being charged separately by another US regulator.
The SEC’s case stems from the defendants’ “blatant disregard of the federal securities laws,”...
Hop Protocol Rewards Sybil Hunters with Innovative Airdrop Tool – How Does it Work?
5.6.2023
As Sybil farming ahead of anticipated airdrops is becoming increasingly popular in the cryptosphere, Hop Protocol is unveiling a new initiative under which it will reward Sybil hunters for their diligence in combating Sybil attackers who target such airdrops.
Sybil attacks are carried out...
Crypto Analytics Firm Elliptic Incorporates AI to Speed up Tracking and Risk Detection – Here's the Latest
5.6.2023
UK-based crypto analytics and risk management firm Elliptic has incorporated the popular artificial intelligence (AI) chat bot ChatGPT into its work, with an aim to speed up the tracking of cybercriminals, the firm said in a recent press release....
Read More: Crypto Analytics Firm Elliptic...
Breaking - Atomic Wallet Hacked, Crypto Analyst ZachXBT Investigates
3.6.2023
Reports are emerging that Atomic Wallet has been hacked and user funds compromised, with some victims having their entire balance drained.
Today, June 3rd, @AtomicWallet tweeted:
On-chain sleuth ZachXBT, who has in the past managed to trace where stolen funds were sent to and helped authorities...
Draft Legislation From House Republicans Drums Up Support From Crypto Advocates
3.6.2023
New draft legislation is drumming up support among cryptocurrency advocates who cheered its focus on defining what constitutes a security versus a commodity.
Republican lawmakers teamed up on Friday in the US House Financial Services Committee and the House Agriculture Committee on a discussion...
Blockchain Association Files Amicus Brief To Support Coin Center’s Lawsuit Over Tornado Cash Sanctions
2.6.2023
Washington DC-based Blockchain Association filed an amicus brief in support of crypto think tank Coin Center’s lawsuit against the US Treasury Department over its sanctions against Tornado Cash.
Treasury sanctioned the crypto mixer in August, claiming that it laundered more than $7 billion worth...
Crypto Assets Should Be Classified as Securities, Says European Parliament Study
2.6.2023
A study commissioned by the European Parliament has proposed that all crypto assets should be treated as transferable securities by default.
To avoid being classified as a security, the study’s authors proposed that the intermediary behind a crypto asset can get an exemption from a national...
House Republican Leaders Release Discussion Draft To Draw Clear Lines on Digital Asset Definitions
2.6.2023
Republican lawmakers teamed up in the US House Financial Services Committee and the House Agriculture Committee on a discussion draft to regulate digital assets.
The legislation, released on Friday, seeks clarity on when a digital asset would be considered a security and thereby regulated by...