Binance, one of the major cryptocurrency exchanges, has announced that it will no longer support Binance USD (BUSD) products starting from December 15. This decision comes after Paxos, the issuer of BUSD, halted the minting of new coins. Users are advised to withdraw or convert their existing BUSD holdings into other assets before December 15. […]
A recent report from the Bank for International Settlements (BIS) has highlighted the potential vulnerability of central bank digital currencies (CBDCs) to cyber threats. The report emphasizes the importance of cybersecurity as a significant risk associated with the increasing adoption of digital cash initiatives by central banks worldwide. With over 130 central banks currently involved […]
BlackRock, a major asset manager, has made revisions to its proposed spot Bitcoin ETF structure in an effort to address concerns raised by the Securities and Exchange Commission (SEC). The changes aim to mitigate market manipulation and regulatory issues. The new model modifies the redemption process by introducing a “prepaid model” where the offshore market […]
IOTA, a leading distributed ledger technology (DLT) project, has achieved a significant milestone in its strategic expansion by registering the first DLT foundation in the United Arab Emirates (UAE). This move is expected to support IOTA’s growth in the Middle East and North Africa (MENA) region. The announcement of the foundation’s registration coincided with a […]
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 […]
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 […]
