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Belarusian Fined $1 Million for Illegal Crypto Trading
13.1.2023
A Belarusian citizen will have to pay a hefty fine for illegally organizing the exchange of cryptocurrencies online. Law enforcement authorities in the country, where certain crypto activities are legal, do not plan to impose other penalties besides the administrative measure. Cryptocurrency Trader...
Report: Genesis Global Trading’s Lending Unit Suspends Withdrawals and New Loan Originations
16.11.2022
Following Blockfi, Liquid Global, and Salt Lending halting withdrawals, reports indicate that Genesis Global Trading’s lending unit has halted customer withdrawals. Genesis’ interim chief executive officer Derar Islim said that the company’s trading and custody units were still operational....
Federal Reserve Hikes Benchmark Bank Rate by 75bps to Battle Elevated Inflation
21.9.2022
The U.S. Federal Reserve raised the federal funds rate on Wednesday afternoon by three-quarters of a percentage point. The central bank’s move follows the consumer price index (CPI) report last week that showed U.S. inflation jumped last month by 8.3% per annum. Fed Raises Federal Funds Rate...
Singapore High Court Grants Crypto Lender Vauld Temporary Protection From Creditors
3.8.2022
Singapore-based Vauld will have some breathing space after the country’s High Court gave its parent company creditor protection for the next three months. The decision comes as the troubled crypto lending platform seeks acquisition by rival Nexo. Vauld to Have 3 Months for Restructuring,...
Fed Hikes Benchmark Bank Rate by 75 bps, Elizabeth Warren Says Central Bank Could ‘Trigger a Devastating Recession’
27.7.2022
On Wednesday, the U.S. Federal Reserve raised the federal funds rate by 75 basis points (bps) in order to tame inflation and stabilize the American economy. The recent rate hike is the U.S. central bank’s third rate increase after increasing the benchmark rate by 50 bps last March. Fed Hikes...
Analysts Suspect the Fed Will Bump Federal Funds Rate by 75 bps Next Week, Others Predict the ‘Biggest Hike in Decades’
20.7.2022
Following the recent U.S. consumer price index report that indicated inflation in America has reached a 40-year high, many expect the Federal Reserve to hike the benchmark interest rate by 75 to 100 basis points (bps) on July 26. Blackstone’s Private Wealth Solutions expects the Fed to raise...
Roskomnadzor Media Watchdog Unblocks Leading Russian Crypto News Outlet
7.7.2022
Russia’s mass media regulator, Roskomnadzor, has restored access to a major Russian crypto news portal. Bits.media was recently blocked as a result of proceedings in a regional court that its representatives were not even summoned to attend. Crypto News Site Bits.media Again Available...
Alexander Vinnik Serves Prison Term in France but No Freedom in Sight
5.7.2022
Having served his five-year prison sentence in France, Russian IT and crypto specialist Alexander Vinnik is now facing a return to Greece and possible extradition to the United States. A French cassation court has recently dismissed an appeal filed by his defense against the transfer....
Russian Court Recognizes Cryptocurrency as Means of Payment, Prosecutors See Precedent
24.5.2022
The City Court of St. Petersburg has recognized a large amount of cryptocurrency handed over by the victim in an extortion case as a means of payment, Russian media reported. The prosecutor’s office in Russia’s second-largest city describes the ruling as a precedent. Two Men Sentenced...
Russian Appellate Court Cancels Decision to Block Tor Project’s Website
23.5.2022
A court of appeals in Russia has overturned a ruling by a regional court which allowed the blocking of the Tor Project’s website in the country. Due to violations during the initial proceedings, the case has been returned to the court of the first instance for another review. Roskomsvoboda...
Crypto Exchange Coinbase Slows Hiring Amid Market Downturn
19.5.2022
Leading U.S. crypto exchange Coinbase is slowing hiring, citing the current down cycle in the market as a reason to rethink its staffing strategy. The company’s management believes the move will allow the trading platform to match its hiring needs with its business goals. Coinbase...
Court Decision Voids Crypto Mining Contracts in China, Shuts Down Bitcoin Farms
16.12.2021
A court in Beijing has ruled that three investment agreements for bitcoin mining operations in Sichuan are “invalid.” A compensation claim has been rejected in the case, viewed as an indication that the Chinese judiciary would not provide protection for crypto-related interests....
Crypto Advocates Weigh ETF Rejection — Veteran Trader Peter Brandt Says Bitcoiners Should ‘Oppose Spot Bitcoin ETFs in US’
14.11.2021
Following the Securities and Exchange Commission’s rejection of Vaneck’s bitcoin spot market exchange-traded fund (ETF) on Friday, a number of cryptocurrency advocates discussed the subject this weekend. For instance, the veteran FX trader Peter Brandt told his 581,700 Twitter...
Court Ruling Threatens 17 Crypto Exchanges in Russia
10.10.2021
Another batch of Russian online crypto exchanges in Russia face closure following a recent decision by a regional court. Information published on their websites has been deemed illegal meaning the country’s telecom watchdog can block access to their platforms. Roskomnadzor May Take Down...
Kyrgyzstan Raises Electricity Rates for Cryptocurrency Miners
3.10.2021
The government of Kyrgyzstan has recently revised its electricity tariffs for various groups of consumers. Authorities in Bishkek have raised the rates at which crypto mining businesses buy power citing the energy-intensive nature of the coin minting process. Crypto Miners in Kyrgyzstan to Pay More...
Court Extends Detention of Finiko Pyramid Founder Doronin and His Right-Hand Man
25.9.2021
A court in Tatarstan has extended the detention of Kirill Doronin, founder of Russia’s largest Ponzi scheme in recent times, Finiko. Doronin will spend at least two more months in custody as authorities fear he could hide from law enforcement. Ilgiz Shakirov, vice-president of the crypto...
Digital Euro Project Gets Going as ECB Launches Investigation Phase
15.7.2021
After months of deliberation, the European Central Bank has decided to proceed with a digital euro project. Officials insist the new version of Europe’s common currency should “ensure privacy” and provide access to “the safest form of money” at...
Privacy Is Key for Successful Digital Euro, Data Protection Body Says
22.6.2021
The European Data Protection Board (EDPB) has issued a call for EU institutions to uphold privacy when designing a digital version of the euro. The agency is ready to provide advice on data protection matters surrounding the project. Meanwhile, an ECB executive has vowed that the digital euro will...
SEC Seeks Commentary From ‘Interested’ Individuals on Vaneck Bitcoin ETF
17.6.2021
The U.S. Securities and Exchange Commission (SEC) is currently seeking additional commentary from the public, as the regulating body ponders the Vaneck bitcoin exchange-traded fund (ETF) decision. In a notice published on Wednesday, the SEC thinks “interested persons” should provide...
Russian Court Bans Websites Explaining How to Trade Bitcoin
11.6.2021
A court in Russia’s Perm region has decided to block a number of websites describing how to exchange cryptocurrency for fiat cash. Local prosecutors claim the dissemination of this type of information is against the law in Russia as it may facilitate the laundering of illicit funds. Kungur...