The Philippines Securities and Exchange Commission (SEC) has issued a cautionary statement regarding the use of Binance, a cryptocurrency exchange. According to the SEC, Binance does not have the necessary license to operate in the country and is not registered as a corporation in the Philippines. As a result, the public is advised against purchasing […]
The U.S. Treasury Department has imposed sanctions on the cryptocurrency mixing service Sinbad.io for its involvement in facilitating money laundering activities by North Korean state-sponsored hacking groups. Sinbad is accused of processing millions of dollars worth of cryptocurrency stolen in cyberattacks attributed to the Lazarus Group, a North Korea-linked hacking group. The Treasury Department claims […]
Crypto firm Paxos has received in-principle approval from Abu Dhabi’s regulator to issue stablecoins and provide digital asset services. The Financial Services Regulatory Authority in the Abu Dhabi Global Market has granted Paxos approval to issue U.S. dollar-backed stablecoins and offer crypto-brokerage and custody services in the Emirate. This approval follows a similar move by […]
David Schwartz, the CTO of Ripple, has called for legislative action to clarify regulations surrounding digital assets in the United States. In a series of tweets, Schwartz emphasized the need for a balanced approach to regulation and expressed skepticism that courts alone could effectively define what constitutes a security in the context of digital tokens. […]
In a joint operation by the FBI and Dutch Financial Intelligence, Sinbad.io, a cryptocurrency mixing service, has been seized by the U.S. Treasury Department. The move is part of a broader crackdown on illicit activities in the crypto space. Sinbad.io, which gained notoriety as a preferred choice for North Korean-state sponsored hacking organization Lazarus, was […]
In a surprising turn of events, renowned football star Cristiano Ronaldo is facing a class-action lawsuit in the United States. The legal action stems from allegations that Ronaldo’s endorsement of cryptocurrency exchange Binance resulted in financial losses for investors. The plaintiffs, Michael Sizemore, Mikey Vongdara, and Gordon Lewis, claim that Ronaldo’s promotion led them to […]
Paxos, a leading digital asset company, has received provisional approvals from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi. This marks a significant milestone for Paxos as it allows them to issue stablecoins backed by US dollars and other currencies, as well as offer crypto-brokerage and custody services from their regulated entities in the […]
Wormhole, a company specializing in cross-chain expansion, has secured a record $225 million in funding. This significant milestone has propelled the company’s valuation to an impressive $2.5 billion. As a result of this funding, Wormhole has decided to spin off into Wormhole Labs, further emphasizing its commitment to expanding its cross-chain capabilities. This move is […]
The Philippines Securities and Exchange Commission (SEC) has issued a warning about Binance’s operations in the country. According to the regulator, Binance is not registered as a corporation in the Philippines and does not have the necessary license or authority to operate there. While Binance is registered in other countries, it has not fulfilled the […]
The UK government has implemented new guidelines for reporting and paying taxes on cryptocurrency assets. Individuals and entities dealing with cryptoassets must comply with these guidelines to ensure tax obligations are met. Failure to report earnings can result in penalties and interest charges. Taxpayers must initiate a voluntary disclosure through the Government Gateway and provide […]
