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Korean Researcher Says Benefits of Spot Crypto ETFs Are Outweighed by Potential Harm
25.6.2024
A researcher with the Korean Institute of Finance has warned South Korea against introducing spot cryptocurrency exchange-traded funds (ETFs) because these may pose risks to financial stability. The introduction of spot crypto ETFs could exacerbate the inefficient allocation of resources. Spot...
Heavy Sell-Off Sees Bitcoin Drop Below $60K, Over $140M in BTC Longs Liquidated
24.6.2024
Bitcoin’s price fell beneath the $60,000 mark on Monday, declining over 6% against the U.S. dollar. At 1:30 p.m. EDT on June 24, the currency’s price hit an intraday low of $59,809 per coin. Bitcoin Struggles Against Bearish Market, Slides to Near $60K Level This Monday proved...
Big banks rush in to test ECB’s wholesale distributed ledger tech
24.6.2024
The new participants in the European Central Bank’s DLT tests include major financial institutions
CoinShares secures 116% return from FTX claim sale
24.6.2024
CoinShares will reinvest $39.78 million from the sale of its FTX claim into growth opportunities and enhanced client services
Mt Gox to Start Distributing $9 Billion in Bitcoin to Creditors in July After Decade-Long Wait
24.6.2024
On Monday, June 24, 2024, the Mt Gox bankruptcy trustee declared that reimbursements are slated to commence at the start of July. The trustee explained that disbursements will be made in bitcoin and bitcoin cash and sent to designated exchanges. After Ten Years, Mt Gox Trustee Announces July Start...
South Korean think tank cautions against crypto ETFs
24.6.2024
South Korean researcher Bo-mi Lee highlights crypto volatility and risks, calling for more research and regulatory measures
Bitcoin’s Power Law Model Gains Traction Despite Market Fluctuations
23.6.2024
In 2020 and early 2021, the stock-to-flow (S2F) bitcoin price model captured widespread attention. Although bitcoin currently stands over 13% below its peak value reached in March, the Power Law Corridor model has become increasingly influential. Many hold the view that the Power Law model’s...
Detained Binance Employee Includes Financial Compensation Demand in Amended Rights Lawsuit
23.6.2024
The jailed Binance employee, Tigran Gambaryan, recently requested permission to amend his fundamental human rights violation against Nigerian law enforcement agencies. The amended proposal reportedly seeks “the costs of this action on a full indemnity basis.” The Economic and Financial...
McKinsey Report: Tokenization at a Tipping Point, Poised to Transform Financial Markets
22.6.2024
The world of finance is standing on the brink of a transformative era driven by the rising prominence of tokenized assets. According to a recent McKinsey & Company report, tokenization—the process of converting assets into digital tokens on a blockchain—has reached a tipping point, setting...
Standard Chartered Set to Launch Spot Crypto Trading for Bitcoin, Ethereum
21.6.2024
The British multinational banking and financial services firm Standard Chartered is initiating a spot cryptocurrency trading platform for bitcoin and ethereum, Bloomberg sources reveal. Sources Say Standard Chartered Ready to Launch Bitcoin and Ethereum Trading Operations On June...
FCA busts suspects in a $1.2B illegal crypto asset business
21.6.2024
FCA arrests two suspects involved in a $1.2 billion illegal crypto asset exchange, highlighting the agency's efforts to combat financial crime
Mexican Cartels Using BTC, ETH, USDT, Other Tokens to Buy Fentanyl Ingredients: U.S.
20.6.2024
Criminal organizations in Mexico have been using several popular digital assets to buy the materials needed to make the drug fentanyl, according to the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN), which cited the use of bitcoin and other tokens in a Thursday advisory
Crypto for Advisors: Crypto Trends
20.6.2024
The digital asset market has begun transitioning from early adoption to mass adoption. A sea change in industry leadership, product development and fiduciary commitment swept crypto in 2023 and early into 2024
Microstrategy Increases Bitcoin Portfolio to 226,331 BTC After Latest Purchase
20.6.2024
Nasdaq-listed Microstrategy has acquired 11,931 more bitcoins for $786 million, raising its total cryptocurrency holdings to 226,331 bitcoins, valued at $8.33 billion with an average purchase price of $36,798 per coin. The acquisition was funded through proceeds from a private offering...
Singapore flags digital payment tokens as high-risk in AML landscape
20.6.2024
Singapore said DPT service providers, also known as virtual assets service providers, stand out as a high-risk category within the financial sector
Binance fined $2.25M by India’s financial intelligence unit
20.6.2024
India’s financial watchdog issued charges against Binance after reviewing written and oral submissions from the Binance Director and available company records
Binance Fined $2.2M by India’s Financial Intelligence Unit
20.6.2024
Binance, the world's largest cryptocurrency exchange, has been fined approximately $2.2 million (18.82 crore INR) for providing services to Indian clients without adhering to the nation's anti-money laundering rules, India's anti-money laundering unit announced Thursday
IMF: CBDCs Can Boost Financial Inclusion and Payment Efficiency in Middle East
20.6.2024
The International Monetary Fund (IMF) says 19 countries in the Middle East and Central Asia, including Bahrain, Georgia, Saudi Arabia, and the UAE, are in the advanced “proof-of concept” stage for central bank digital currencies (CBDCs). “We support policymakers evaluating...
IMF Says CBDCs Could Boost Middle East's Financial Inclusion, Payment Efficiency
19.6.2024
Central bank digital currencies (CBDCs) may not be essential to achieving intended policy goals, instead addressing underlying constraints and improving other digital payment systems may be a more practical alternative, a survey of 19 central banks in the Middle East and Central Asia (ME&CA) region...
Patrick McHenry Explains FIT21's Passage
19.6.2024
Congressman Patrick McHenry (R-N.C.) chairs the powerful House Financial Services Committee, and has been the leading Republican on the panel for years. Last year, he spent a few weeks as the Speaker Pro Tempore of the House of Representatives, after lawmakers voted to oust then-speaker Kevin...