The United Kingdom government has released an update on its plans to regulate fiat-backed stablecoins. The aim is to facilitate and regulate the use of these stablecoins in the country’s payment chains. The government intends to introduce specific legislation in 2024, which will bring the regulation of fiat-backed stablecoins under the Financial Conduct Authority’s (FCA) […]
The Monetary Authority of Singapore (MAS) has announced its plans to collaborate with the Financial Services Agency of Japan (FSA), the Swiss Financial Market Supervisory Authority (FINMA), and the United Kingdom’s Financial Conduct Authority (FCA) to promote joint digital asset pilots. This initiative is an extension of Singapore’s ongoing asset tokenization project, known as Project […]
Zodia Custody, a crypto custody platform co-owned by Standard Chartered, SBI Holdings, and Northern Trust, has expanded its services to Hong Kong. This move comes in response to the increasing demand for crypto custody solutions from institutions in Hong Kong. Zodia CEO Julian Sawyer attributes the expansion to Hong Kong’s crypto-friendly stance and the government’s […]
United States-based cryptocurrency exchange Kraken has announced that it will comply with a court order to share the data of 42,000 users with the Internal Revenue Service (IRS). The court order, issued by the Northern District of California, requires Kraken to provide a wide range of records and data on its U.S. clients who have […]
At least 25 individuals have reportedly fallen victim to a data breach that affected password storage software LastPass, resulting in the loss of $4.4 million in cryptocurrency across 80 wallets. The breach occurred in 2022, but its impact was felt in October 2023 when the compromised wallets were tracked by on-chain researcher ZachXBT and MetaMask […]
Users of the LastPass password manager application have suffered a significant loss of $4.4 million worth of crypto assets in a single day. This comes a year after LastPass disclosed a previous security breach where hackers gained access to its cloud storage keys and dual storage container decryption keys. The recent asset loss was discovered […]
Sam “SBF” Bankman-Fried, the CEO of FTX and Alameda Research, testified in his ongoing criminal trial in the Southern District Court of New York. He denied any wrongdoing between the two companies but admitted to making mistakes during their rapid growth.Bankman-Fried refuted claims that he directed his inner circle to make political donations, although he […]
Elon Musk, the owner of X (formerly known as Twitter), recently revealed new details about the company’s planned payment services. During an all-hands staff meeting, Musk stated that the app will cover almost all areas of finance, including money, securities, and more. He emphasized that X aims to be more than just a platform for […]
Taiwan has introduced a new bill called the “Virtual Asset Management Regulations Draft” in an effort to regulate its growing virtual asset market. The bill aims to establish a comprehensive regulatory framework for the crypto industry, with the primary goal of protecting investors and maintaining financial stability. Currently, Taiwan only requires virtual asset service providers […]
Elon Musk, the world’s richest man, has revealed his plans to transform X (formerly Twitter) into a comprehensive financial platform by the end of 2024. While it is unclear if cryptocurrencies, specifically Dogecoin, will be incorporated into X’s payment service, Musk’s interest and alleged investment in the Dogecoin ecosystem suggest that it is a possibility. […]
