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PayPal Held $604M of Customers' Crypto as of Year-End 2022
10.2.2023
The payments company held $291 million of bitcoin and $250 million of ether, with the rest comprising litecoin and bitcoin cash
The IRS is Taking Action to Uncover Identities of This Crypto Exchange's Customers – Who Will Be Affected?
10.2.2023
According to the Internal Revenue Service (IRS), the American tax authority, Kraken, the giant crypto exchange, failed to provide requested information regarding its US customers who conducted crypto transactions worth $20,000 or more between 2016 and 2020.
The major exchange has allegedly been...
IRS Seeks Court Approval to Identify Kraken Crypto Customers
9.2.2023
The Internal Revenue Service has filed a court document seeking permission to enforce a summons for information against Kraken and its subsidiaries
Coinbase CEO Brian Armstrong Expresses Concern Over Rumors of SEC Ban on Crypto Staking for Retail Customers
9.2.2023
Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that “staking is not a security” and that the trend allows users...
Billionaire Coinbase CEO Sounds Alarm Over Rumoured SEC Ban on Crypto Staking for Retail Customers
9.2.2023
Brian Armstrong - the brains behind Coinbase - hit back at rumours of an incoming US crypto staking ban.
Taking to twitter. The Coinbase CEO argued that staking is vital. Ensuring users can contribute to the running of decentralised networks while also boosting scalability and network security....
Coinbase's CEO Cites 'Rumors' the SEC May Ban Crypto Staking for Retail Customers
9.2.2023
"I hope that's not the case as I believe it would be a terrible path for the U.S. if that was allowed to happen," Brian Armstrong tweeted Wednesday
Elementus Raises $10 Million to Bring Clear Blockchain Analytics to Institutional Customers
8.2.2023
Elementus, a New York-based blockchain firm, has raised $10 million as part of its Series A-2 funding round, led by Web3 VC company Parafi Capital. The raise, which values the company at $160 million, aims to allow Elementus to keep improving its processes for providing effective and sound...
Digital bank Revolut launches crypto staking for UK and EEA customers: Report
6.2.2023
Currently, staking is available for DOT, XTZ, ADA, and ETH crypto assets, with yields reportedly ranging from 2.99% to 11.65%%
Russia Expands Its Crypto Mining Capacity, Report Reveals
5.2.2023
The total capacity of crypto mining facilities in Russia has been increasing in the past year, despite the market downturn and sanctions, according to a survey of leading operators. Depressed prices of mining equipment and stronger interest from domestic customers have been identified as major...
South African Retailer Pick n Pay Now Accepting Payments via BTC at All Its Stores
3.2.2023
Pick n Pay, one of South Africa’s leading retailers, reportedly now accepts bitcoin as payment at all its stores across the country. Using the bitcoin lightning network, Pick n Pay’s customers can now buy items such as groceries, airtime and electricity tokens. Using BTC for Everyday...
Banks in Russia to Lose $700 Million a Year Due to Digital Ruble, Experts Say
3.2.2023
Russian banks may be the main losers from the introduction of a digital ruble while retailers will save on acquiring fees, analysts have predicted. The benefits for consumers using the new digital currency are not that obvious as they may not be paid any interest or cashback. Launch of Russia’s...
FTX customers warned of scammers baiting them with return of assets
3.2.2023
Scammers have been trying to trick customers by offering them the prospective return of their assets
US Judge Dismisses Customer Lawsuit Against Crypto Exchange Coinbase
3.2.2023
A U.S. district judge has dismissed a lawsuit against Coinbase and its CEO Brian Armstrong filed by customers of the crypto exchange. The lawsuit alleges that Coinbase sold 79 crypto tokens that are unregistered securities. Customer Lawsuit Against Coinbase Dismissed A proposed class action lawsuit...
Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation
1.2.2023
The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like...
Alameda Research Seeks $446 Million Over Alleged ‘Preferential Transfers’ to Voyager Digital
31.1.2023
On Monday, Alameda Research Ltd. filed a legal complaint against Voyager Digital LLC and HTC Trading Inc. in the U.S. bankruptcy court. The complaint alleges the defendants received preferential transfers of property from Alameda Research and the plaintiffs are seeking to recover approximately...
Crypto Exchange Gemini Emphasized FDIC Insurance in Communications With Earn Customers: Report
30.1.2023
Gemini reportedly claimed repeatedly that its the assets of customers using its Earn product were safe thanks to being backed by the FDIC
First Mover Americas: Did Binance Make Honest Error With Customers' Funds?
25.1.2023
The latest price moves in bitcoin (BTC) and crypto markets in context for Jan. 25, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets
Crypto Regulation Is Like a Flimsy Umbrella in a Monsoon
25.1.2023
You know what they say, “when life gives you lemons, make lemonade.” But when it comes to protecting your crypto funds on centralized exchanges (CEXes), the old adage should be “when life gives you regulations, make a self-custody wallet.” Self-custody is undoubtedly...
NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry
23.1.2023
On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial regulator stressed that businesses should not commingle customer funds and that customer...
New York’s Chief Financial Regulator Mandates Firms to Separate Customers' Crypto Assets from Their Own
23.1.2023
New York’s chief financial regulator plans to release new guidance that will mandate companies to separate their own crypto assets from that of customers'.
The New York State Department of Financial Services (NYDFS) will also require state-regulated firms to disclose how they account for clients'...