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U.S. Treasury Targets Crypto Mixers in Anti-Money Laundering Move


The Biden administration has designated crypto "mixers" as primary money-laundering hubs. In a Thursday notice, United States Treasury Department’s Financial Crimes Enforcement Network (FinCEN) proposed requiring domestic financial institutions and agencies to "implement certain recordkeeping...

India's Central Bank Launches Wholesale CBDC Pilot For Inter-Bank Borrowing


The Reserve Bank of India has initiated a wholesale Central Bank Digital Currency (CBDC) pilot program for inter-bank borrowing.  The central bank had earlier announced its plans to test the wholesale CBDC, with the pilot now underway as of October. RBI’s executive director Ajay Kumar Choudhary...

Russia Gov’t Wants to Use Its CBDC for Tax Collection, Paying Benefits


Russia’s government intends to use the digital ruble to make welfare payments, and wants citizens to use the CBDC to pay their taxes. Per Finam, the Central Bank and the Ministry of Finance say they are “exploring the possibility of using the digital ruble for government payments,” and want...

Sui Foundation Faces Probe: Token Price Hits All-Time Low


The small-cap crypto token Sui is facing turbulent times as its price hits all-time lows. As of press time on Thursday, the price of SUI was down close to 1% for the day and down 9.4% for the past seven days, hitting its lowest levels ever. The cause of the decline is tied to reports in local...

California's Crypto Regulation: Will It Push Firms Out?


California has signed the Digital Financial Assets Law, raising concerns within the industry regarding the potential consequences of this legislation. On Friday, Governor Gavin Newsom signed the bill into law, aiming to regulate California's cryptocurrency industry, which is home to nearly...

Bitcoin ETF Watchers Wait for "Some Sort of Announcement" on Friday


Observers are eagerly awaiting a potential announcement surrounding the possibility of a Bitcoin (BTC) exchange-traded fund (ETF) on Friday. On October 20, a District of Columbia court is set to issue a mandate that could solidify an August opinion in favor of Grayscale, which sought to convert...

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