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 […]
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 […]
Sam “SBF” Bankman-Fried, the former CEO of FTX, testified in court regarding his relationship with Caroline Ellison and political donations from the crypto exchange. Bankman-Fried claimed that he did not discuss donations to U.S. politicians with former FTX employees Nishad Singh and Ryan Salame. He stated that the donations made in his name were actually […]
Amid the global crackdown on financial crimes and terrorism funding, the US government has expressed concerns about certain companies in the crypto asset industry. The government believes that these entities are not doing enough to prevent illicit financial transactions. US Deputy Treasury Secretary Wally Adeyemo emphasized the need for financial institutions and digital asset companies […]
A new bill aimed at combating economic crime in the UK is making its way through the legislative process. The Economic Crime and Corporate Transparency Bill has been approved by UK lawmakers and is expected to have a significant impact on the fight against illicit activities. The bill focuses on regulating illicit cryptocurrency assets, marking […]
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 […]
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 […]
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 […]
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 […]
