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Kentucky Regulators Crack Down on Blockfi Interest-Bearing Accounts
31.7.2021
The crypto lender Blockfi is now dealing with regulators from five states as Kentucky has joined the fray against the firm’s Blockfi Interest Accounts (BIAs). On July 30, Blockfi shared a statement on Twitter that explained the Kentucky Department of Financial Institutions (DFI) has sent...
Malaysia Takes Enforcement Actions Against Binance, Advises Investors to ‘Withdraw All Investments Immediately’
30.7.2021
The securities regulator of Malaysia has taken enforcement actions against the global cryptocurrency exchange Binance. Noting that the exchange is operating illegally in the country, the regulator has advised those who currently have accounts with Binance “to immediately cease trading through...
New Jersey’s Order Against Blockfi Extended, Vermont Issues Notice to Crypto Lender
29.7.2021
On July 28, Zac Prince, the CEO of crypto finance firm Blockfi, explained that the company has been “engaged in a productive discourse” with U.S. regulators. Prince further said the New Jersey Bureau of Securities had extended the state’s previous order to September 2. Meanwhile...
Developer-Friendly Passwordless Auth
29.7.2021
I’d wager to say that most websites that are business-minded have accounts. A way to log into them. Social media sites, eCommerce sites, CMS systems, you name it, having accounts people log into is at the heart of them. So… …
The post Developer-Friendly Passwordless Auth appeared...
Regulator Identifies ‘Fake’ Crypto Exchange Bank Accounts
29.7.2021
Source: Adobe/jon_chica
South Korea’s top financial regulator, the Financial Services Commission (FSC) said it has identified 14 “fake” bank accounts that are or have been used as fiat on/off ramps by domestic crypto exchanges.
The FSC examined a total of 94 accounts belonging to 79 crypto...
Banks in Kazakhstan to Open Accounts for Registered Crypto Exchanges
27.7.2021
Companies providing trading services for digital assets will be able to open accounts with banks in Kazakhstan, local media reported, quoting the country’s crypto industry association. The service should allow Kazakhs to legally invest in cryptocurrencies and cash out their profits. Crypto...
Texas and Alabama Regulators Crackdown on Blockfi’s Interest Bearing Account Product
23.7.2021
Fresh off the heels of Blockfi’s issues with the ​​New Jersey Bureau of Securities, the company is now having problems in the state of Alabama. The director of the Alabama Securities Commission (ASC), Joseph Borg, explained on July 21 that he issued a show cause to the firm. Borg...
South Korean Regulators Warn Dozens of Foreign Exchanges to Comply With New Rules
22.7.2021
Overseas crypto exchanges marketing to Koreans will be blocked if they fail to comply with new South Korean regulations. The country’s anti-money laundering body has sent a notice to a number of foreign trading platforms warning them a registration is mandatory in order to provide services...
Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets
20.7.2021
On July 20, the CEO of Circle Internet Financial LLC., Jeremy Allaire, published a blog post that explains the firm’s dollar-pegged stablecoin is backed by “prioritized trust, transparency, and accountability.” Allaire’s blog post follows a letter from the Centre...
Blockfi Ordered to Stop Offering Interest-Bearing Crypto Accounts in New Jersey
20.7.2021
On July 19, the CEO of the crypto financial services firm Blockfi, Zac Prince, told the public that the New Jersey Bureau of Securities has told the company to “stop accepting new BIA clients residing in New Jersey beginning July 22, 2021.” New Jersey’s acting attorney general...
Seized PS4 consoles in Ukraine used for FIFA accounts, not crypto mining
19.7.2021
The gaming hardware confiscated by the Ukrainian police was being used to create in-game currency and not for farming cryptocurrency
Hong Kong Busts Money Laundering Ring Using Tether to Wash Millions
16.7.2021
Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. Money Laundering...
21Shares partners with German brokerage to offer crypto ETPs for savings accounts
13.7.2021
“We are very excited to offer German clients who wish to add Bitcoin and other crypto assets to their savings plan a compelling option to do so thanks to comdirect,” said Hany Rashwan, CEO of 21Shares
Israeli defense minister authorizes seizure of Hamas-tied crypto accounts
9.7.2021
Hamas' efforts to raise funds via crypto had reportedly accelerated following the 11-day war between Israel and the organization in May of this year
Using Decentralized Digital IDs and Blockchain to Help Millions in Africa Get Identified
9.7.2021
With over 1.3 billion inhabitants, Africa accounts for over 16% of the world’s population. However, the continent still falls short when it comes to providing its residents with legitimate or government-issued identification documents. As some studies have revealed, as many as 400 million...
Korean Banks Elevate Cybersecurity to Deal With Crypto-Related Risks
7.7.2021
South Korean banks are taking steps to bring cybersecurity to a new level as they try to keep up with fintechs and address new threats arising from their interaction with the crypto space. A number of institutions are adopting unprecedented measures including the integration of blockchain...
Twitter Permanently Suspends Splinterlands Account for Unspecified Violations
5.7.2021
After tweeting through its account since 2018, Splinterlands, a blockchain-based NFT trading card game, has been banned from the service permanently as social media giant Twitter refuses to respond to appeals. Suspension Coincides With Twitter Unveiling its Own NFTs While non-fungible token (NFT)...
Robinhood IPO Filing Reveals $88 Billion in Cryptocurrency Trading, Dogecoin 34% of Crypto Revenue
2.7.2021
Robinhood’s IPO prospectus shows that 9.5 million customers traded $88 billion of cryptocurrency on its platform in Q1 and the company held approximately $12 billion in crypto assets under custody, a 23-fold increase from last year. Meanwhile, 34% of Robinhood’s cryptocurrency revenue...
Coinbase Launches High Yield USDC Accounts With 4% APY
30.6.2021
Coinbase, the largest exchange in terms of crypto reserves held, has announced the introduction of a savings program tied to usd coin. The company’s high yield USDC savings program allows customers to gain 4% APY interest on stablecoin accounts. Coinbase Reveals USDC Savings Program With...
Korean Crypto Exchanges Consider Suing Government Over Banking Requirements
30.6.2021
All cryptocurrency exchanges in South Korea except the largest four may be unable to meet the bank account requirements needed to stay in business. A number of Korean crypto exchanges are considering suing the government and financial authorities, claiming that the country’s crypto law...