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Crypto Crimes Highlighted in IRS Criminal Investigation’s 2023 Top 10 Criminal Cases
16.12.2023
In the IRS’s list of top 10 criminal cases for 2023, cryptocurrency frauds are featured, ranging from multi-million dollar tax evasions to elaborate money laundering schemes. Crypto Scams Among Most Significant Financial Crimes in IRS Criminal Investigation’s 2023 Report The...
Financial Regulators Urge Congress to Pass Crypto Legislation in New Report
15.12.2023
The Financial Stability Oversight Council (FSOC) has renewed its calls for Congress to pass crypto legislation, according to their annual report released Thursday. Crypto vulnerabilities addressed FSOC’s latest release reiterates its suggestion from last year’s report demanding greater regulation...
First Trust Submits ‘Buffer’ Crypto ETF to SEC as Gensler Reconsiders Approach
15.12.2023
Image Source: iStock Illinois-based financial services firm First Trust has formally submitted Form N1-A to the US Securities and Exchange Commission (SEC), notifying the agency of its intentions to launch a crypto-backed exchange-traded fund (ETF). According to the prospectus submitted to the...
Nearly Half of Users Primarily Use Crypto to Earn Extra Income — Binance Study
15.12.2023
Nearly half of the crypto exchange Binance’s users list “earning extra income as their primary use for crypto.” The survey also revealed that 36% of the respondents consider “achieving financial security and independence” as the primary objective for using crypto...
Coinbase Reveals ‘Project Diamond’ Initiative, Targets Institutions Issuing Native Digital Assets
15.12.2023
Coinbase, the largest U.S.-based crypto exchange, has revealed Project Diamond, an initiative that seeks to provide the tools for institutions to issue native digital assets. The project, which integrates several technologies, including Coinbase’s layer 2 product Base, the USDC stablecoin...
Adam Back Says ‘Suck That Truthoors’ as Cantor Fitzgerald CEO Reveals Company Holds Tether’s Treasuries
15.12.2023
Howard Lutnick, CEO of Cantor Fitzgerald, a Wall Street private financial services company, has recently confirmed that they lent their services to Tether, the issuer of the biggest stablecoin in the cryptocurrency market. On CNBC’s Money Movers, Lutnick stated that he was a fan of Tether...
Bitcoin Price Prediction: Struggles at $43,400 Amid Fed’s Market Impact
15.12.2023
In the ever-shifting landscape of cryptocurrency, Bitcoin encounters resistance at the crucial $43,400 mark, forming a challenging double top pattern. This movement comes amid a backdrop of the Federal Reserve’s nuanced monetary balancing act, which has sent ripples across financial markets...
Russia-China CBDC Payments May Debut in 2024 – Moscow
15.12.2023
Source:Iliya Mitskavets/Adobe A top Russian politician says that Moscow and Beijing could begin using their CBDCs – the digital ruble and digital yuan – to make payments as early as 2024. Per the news agency Tass, the comments came from Anatoly Aksakov, the head of the State Duma Committee on...
Financial Regulators Reiterate Call for Legislation to Address Crypto Risks
14.12.2023
Congress needs to pass laws addressing stablecoins and non-securities spot markets, the Financial Stability Oversight Council said in its latest annual report
Crypto KYC Solutions Advance to Ensure Adoption and Better User Experience
14.12.2023
Know-your-customer (KYC) measures are becoming more important as the cryptocurrency sector grows. These models have proven to help digital asset service providers prevent against crimes such as money laundering, terrorist financing and more. Yet while KYC processes can help financial firms better...
Crypto for Advisors: ETH Staking in 2024
14.12.2023
In today's issue of Crypto for Advisors, we share what advisors need to know about how ETH staking works and what’s coming
Former Credit Suisse Executive Launches Crypto Trading Platform for Financial Institutions
14.12.2023
Source: Pixabay A new Zurich-based startup Rulematch is creating a customized crypto trading experience for banks and securities firms. The trading venue is launched by a former Credit Suisse executive David Riegelnig. Rulematch has commenced Bitcoin (BTC) and Ether (ETH) spot trading against...
Crypto Exchange Bitget Reveals Mandatory KYC Policy With Incentives for Early Compliance
14.12.2023
On Thursday, the crypto exchange Bitget, headquartered in Seychelles, announced its decision to implement comprehensive Know Your Customer (KYC) policies across its platform. These new KYC requirements are set to take effect on December 15, 2023. Bitget Rolls Out Mandatory KYC Procedures Bitget...
Philippine SEC Gives Binance and Other Platforms Operating Without License 3 Months Before Ban
14.12.2023
Source: Adobe Stock The Philippine Securities and Exchange Commission (SEC) has clarified the issues raised over the former advisory to the effect that any unregistered platform will be banned after three months. Speaking at a Dec 13 panel on educating consumers on unregistered exchanges, the head...
IMF Head Urges For Clear Rules and Infrastructure to Curb Crypto Risks
14.12.2023
Source: iStock Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), addressed ways to curb cryptocurrency risks on financial stability. Georgieva stressed that crypto assets need to be regulated with clear rules and infrastructure. Speaking at an international...
Martin Thibeault Helps Entrepreneurs Transform Their Career With Blockchain Technology
14.12.2023
Martin Thibeault‘s story unfolds as an awe-inspiring journey full of transformation, resilience, and an unyielding pursuit of financial sovereignty woven into the rich tapestry of life. Martin’s extraordinary journey takes him from the familiar landscapes of carpentry to the dynamic...
South Korea to Prioritize Innovation in Next Phase of Crypto Regulations
14.12.2023
Source: Pexels South Korea’s authorities have expressed a commitment to balance investor protection with fostering technological innovation in next phase of crypto regulations. Kim So-young, Vice Chairman of the Financial Services Commission, emphasized the need for regulations to strike this...
Crypto to be Measured at Fair Value in US Under New FASB Rules – Here is the Bitcoin (BTC) Price Reacted
13.12.2023
Source: DALL·E US companies that hold crypto will be required to record their tokens at the most up-to-date or “fair value”, according to the first set of crypto accounting rules issued by the US Financial Accounting Standards Board (FASB), and crypto prices are pushing higher as a result. ⚠ CRYPTO...
Okx Dex Falls Victim to $2.7M Cyber Heist, Arkham Confirms
13.12.2023
Numerous reports reveal that a security breach at Okx’s decentralized exchange (dex) platform resulted in financial damages estimated at $2.7 million, as confirmed by the onchain intelligence firm Arkham. Crypto Platform Okx Dex Hit by $2.7 Million Hack, Bounty Offered for Hacker’s...
Report: South African Financial Institutions Will Soon Offer Services Related to Cryptocurrencies
13.12.2023
About 73 applicants who are seeking a license to offer crypto products in South Africa are already registered as accountable institutions with the Financial Intelligence Centre, an executive at the crypto exchange Luno has said. According to the Luno executive, this may be an indication that...