Taiwan Introduces Virtual Asset Management Bill to Enhance Customer Protection and Industry Oversight

Taiwanese legislators have introduced the Virtual Asset Management Bill to the Legislative Yuan, aiming to provide better protection and supervision for customers in the virtual asset industry. The bill proposes obligations for virtual asset service providers (VASPs), such as separating customer funds, establishing internal controls, and joining trade associations. However, it does not currently require […]

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Deutsche Bank and Standard Chartered Collaborate on Stablecoin Swap Using Blockchain Technology

Deutsche Bank and Standard Chartered recently conducted a significant exchange of dollars for euros using stablecoins and blockchain technology. This departure from the trend of decentralization highlights a move towards a more centralized approach. While decentralized exchanges like Uniswap have made currency swaps user-friendly and accessible, banks engaging in swaps operate within their own infrastructure, […]

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CBDCs Struggle for Widespread Acceptance Without Private-Sector Collaboration

The global push for central bank digital currencies (CBDCs) is facing a significant challenge: the need for collaboration with the private sector to ensure widespread acceptance. CBDCs have emerged as a potential alternative to fiat and other digital currencies, aiming to increase financial inclusion and enhance efficiency in the global monetary system. However, their success […]

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Bitcoin Hits All-Time Highs Against Inflationary Currencies

The price of Bitcoin has reached new all-time highs against several inflationary fiat currencies. Over a span of 30 hours, Bitcoin’s value surged against the Argentine peso, Nigerian naira, Turkish lira, Laotian kip, and Egyptian pound. However, it’s important to note that this increase is primarily due to the ongoing devaluation of these currencies, which […]

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FTX Founder’s Fraud Trial Takes a Surprising Twist

Sam Bankman-Fried, the founder and former CEO of FTX, a prominent cryptocurrency exchange, is currently on trial in the United States District Court Southern District of New York. He is facing multiple charges, including embezzlement, speculative trading with customer funds, and misusing them for personal gain or political donations. In an unexpected turn of events, […]

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Phishing Scammers Clone Crypto Media and Blockchain Scanner Websites in Elaborate Scam

Phishing scammers have recently targeted crypto media outlet Blockworks and Ethereum blockchain scanner Etherscan by creating cloned websites. These fake sites aim to deceive unsuspecting readers into interacting with them. One example is a cloned Blockworks site that presents a fake “BREAKING” news report about a supposed multimillion-dollar “approvals exploit” on the decentralized exchange Uniswap. […]

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FTX CEO Trial: Prosecution Wraps Up as Defense Counsel’s Case Remains Uncertain

The trial of former FTX CEO Sam “SBF” Bankman-Fried in New York continues, with prosecutors resting their case on October 26. FBI agent Mark Troiano provided testimony about his analysis of over 300 Signal groups associated with Bankman-Fried. The defense called witnesses, including Bahamas attorney Krystal Rolle, who discussed FTX’s transfer of digital assets to […]

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Former FTX CEO Testifies in New York Court on Allegations of Funds Misuse and Shadowy Entity Creation

Former FTX CEO Sam “SBF” Bankman-Fried testified in a New York courtroom regarding allegations of using customer funds from the crypto exchange to make investments through Alameda Research without users’ knowledge. Bankman-Fried claimed that he followed company policies on records and that none of the media set to “auto-delete” were used for decision-making. He stated […]

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Lawmakers Call for DOJ Investigation into Binance and Tether Over Suspected Involvement in Illicit Financing

US lawmakers are urging the Justice Department to investigate Binance and Tether for their alleged involvement in facilitating illicit financing for terrorist groups, including Hamas. In a letter to Attorney General Merrick Garland, Senator Cynthia M. Lummis and Representative French Hill called for decisive action if the firms are found complicit. The lawmakers highlighted Binance’s […]

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