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Investigation Reveals El Salvador Misused One-Third of $600 Million COVID Relief for Bitcoin
1.11.2023
The COVID-19 pandemic plunged El Salvador into economic turmoil in 2020, causing GDP to plummet nearly 8% and leaving many struggling to survive the strict lockdown measures. So when the Central American Bank for Economic Integration (BCIE) approved a $600 million loan in 2021 to provide relief...
Turkey in "Final Stage" of Bringing Crypto Legislation as Last Step to Get off FATF's Grey List: Minister
1.11.2023
Turkey is in the "final stage" of bringing crypto legislation to its parliament, a last step required for it to be removed from the Financial Action Task Force's (FATF) "grey list
Taiwan Police Bust $320 Million Crypto Money Laundering Racket
1.11.2023
Taiwan’s Criminal Bureau’s Electronic Investigation Team busted a major crypto money laundering operation, involving $320 million worth of USDT. The criminal network, led by a merchant named Qiu, spanned multiple countries in Southeast Asia, including Malaysia, Philippines, and Hong...
US State Regulators Grant Money Transmitter Licenses to Crypto Startup Bastion
31.10.2023
Institutional-focused crypto custody firm Bastion has obtained money-transmitter licenses (MTLs) in New Hampshire and Arkansas. 1/ We’re happy to share that we received our first two Money Transmitter Licenses (MTLs) in New Hampshire and Arkansas and can now support fungible assets in both states....
SBF says spending FTX customers' money was part of 'risk management': Report
31.10.2023
At the time of bankruptcy, FTX faced a shortfall of $8 billion owing to its customers
Crypto startup Bastion secures money transmitter licenses in US
31.10.2023
Launched in September by two former Andreessen Horowitz executives, Bastion has acquired its first two money transmitter licenses in New Hampshire and Arkansas
Rising M2 money supply will see crypto become 'supermassive black hole': Raoul Pal
31.10.2023
Historically, the cryptocurrency market has benefited from the rise in global money supply as the majority of the bull runs in the past coincided with the rise in fiat supply
Bitcoin white paper turns 15 as Satoshi Nakamoto’s legacy lives on
31.10.2023
“I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party,” Satoshi said in an Oct. 31 email in 2008
US Treasury Deputy Secretary: Crypto Not Major Source of Funding for Terrorists
30.10.2023
U.S. Treasury Deputy Secretary Wally Adeyemo says crypto is not the vast majority of the ways terrorist groups are funded, noting that these organizations “continued to use the traditional banking system.” His statements followed media reports claiming that Hamas raised a large sum...
Elon Musk Unveils Plan to Turn X Into ‘Powerful’ Financial Platform — ‘You Won’t Need a Bank Account’
29.10.2023
Billionaire Elon Musk has revealed that he is turning his social media platform X, formerly Twitter, into an all-encompassing financial platform. “When I say payments, I actually mean someone’s entire financial life … If it involves money. It’ll be on our platform,” he claimed, emphasizing:...
New Law Expands Police Powers to Seize Crypto in UK
28.10.2023
A new law that gives law enforcement agencies greater powers to seize, freeze, and recover crypto assets has entered into force in the U.K. The law introduces provisions for police to “seize crypto assets more easily and convert them into money before a forfeiture hearing has taken...
UK Residents Flags Privacy Concerns in Digital Pound Consultations: Bank of England
27.10.2023
The Bank of England (BOE) says the majority of 50,000 feedbacks it received from the public consultation on the digital pound revolve around privacy and fiat scarcity concerns. Jon Cunliffe, the bank’s Deputy Governor disclosed in a speech, Money and payments: a ‘black ships’...
UK Lawmakers Roll Out Legislation to Seize Cryptocurrencies Used for Illegal Purposes
26.10.2023
The UK Parliament has passed a bill that allows law enforcement authorities to seize cryptocurrencies associated with illicit activities. This includes investment scams, hacks, terrorism financing, money laundering, and drug trafficking. Per an official announcement on its website, the new bill...
Highlights of the Africa Money and DeFi Summit
26.10.2023
Africa Money and DeFi Summit is seeing the Hedera ecosystem lead the charge for banking the bankless. In fact, the topic was the focal point of the event for the majority of its duration. It was taken up by many experts in sessions and presentations. The event welcomed the participation of Pete...
California Enacts Digital Financial Assets Law
26.10.2023
On October 13, 2023, California enacted the Digital Financial Assets law. This law is California’s first comprehensive framework for regulation of digital asset markets, and some of its provisions may sound familiar to those versed in the state’s money transmitter licensing requirements. Under this...
Hobbled Crypto Exchange's Creditors Are Suing Its CEO and Want to Claw Back Money From 'Bitcoin Jesus'
26.10.2023
CoinFLEX CEO Mark Lamb breached his fiduciary duty when he created a new company, OPNX, with the founders of failed crypto hedge fund Three Arrows Capital, creditors argue. They are also critical of a deal Lamb struck with early BTC evangelist Roger Ver
Rug Pulls Account For Majority of Scams as Q3 2023 Exploits Wipe Out $720 Million
25.10.2023
The impact of digital asset scams has been a major talking point around policies, regulations, and developer’s direction this year with millions lost across chains to bad actors. A new report by blockchain security firm Hacken shows a quarter-to-quarter increase in hacks and money drained...
Infamous Hacker Denis Katana Linked to Bitcoin Money Laundering for Russian Crime Ring
25.10.2023
A judge in Spain has linked notorious hacker Denis Tokarenko, also known as Denis Katana, to a Russian organized crime ring involved in money laundering through Bitcoin (BTC).
According to a report by El Español, the criminal organization, which operated in the southeastern Spanish province...
Lightspark Open Sources Email-Like Protocol UMA; Raises Debate on Compliance
25.10.2023
Lightspark, a Lightning Network (LN) financial services company, has announced it has open-sourced Universal Money Address (UMA), a protocol similar to email, but for money. The protocol will be interoperable, allowing platforms to exercise due compliance on the transactions facilitated,...
Report: Operators of Central African Republic-Based Crypto Investment Firm Disappear With $1.6 Million
25.10.2023
According to reports, the operators of a Central African Republic (CAR) crypto company which promised a high return on money invested have disappeared along with $1.6 million in investor funds. High-profile personalities including lawmakers and senior government employees are among the hundreds...