In a devastating phishing attack, a Chainlink (LINK) holder lost a staggering $4.66 million worth of cryptocurrency. The incident was brought to light by Lookonchain, a data analytics firm, through a tweet. The victim had accumulated 290,750 LINK tokens, valued at $2.26 million, through trading on various exchanges. However, they fell victim to a phishing […]
South Korean lawmakers have been involved in significant cryptocurrency transactions over the past three years, with a total estimated trade volume of $97.6 million. A recent report from the country’s Anti-Corruption and Civil Rights Commission revealed that out of the 298 sitting lawmakers, 18 had records of virtual asset possession, and only 11 were responsible […]
India’s Financial Intelligence Unit (FIU) has requested a ban on nine cryptocurrency exchanges operating in the country, including Binance, Kraken, and Bitfinex. The FIU claims that these exchanges are operating illegally and have failed to comply with national anti-money laundering (AML) and anti-terrorist financing regulations. As a result, the FIU has requested that the websites […]
Chinese authorities are taking steps to crack down on the use of cryptocurrencies, specifically Tether USDT, in foreign exchange trading. The Supreme People’s Procuratorate (SPP) and the State Administration of Foreign Exchange (SAFE) have issued a joint statement warning the public against using Tether as an intermediary for trading yuan with other fiat currencies.The authorities […]
Terraform Labs, the blockchain company, has achieved a partial victory in a case brought against it by the U.S. Securities and Exchange Commission (SEC). Judge Jed Rakoff issued a summary judgment in favor of Terraform Labs, stating that the firm did not engage in transactions involving security-based swaps. However, the judge also ruled that various […]
In a groundbreaking decision, U.S. District Judge Jed Rakoff ruled in favor of the Securities and Exchange Commission (SEC), confirming that Terraform Labs and its founder, Do Kwon, engaged in the offering and sale of unregistered securities. The ruling specifically involves cryptocurrencies such as LUNA and UST, marking a significant victory for the SEC and […]
Republican lawmakers are calling for the removal of Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), citing bias and damage to the digital asset industry. Congressman Warren Davidson, with support from House Majority Whip Tom Emmer, has advocated for Gensler’s dismissal, alleging corruption and abuses of power. This move comes amidst […]
A United States court has ruled in favor of the Securities and Exchange Commission (SEC) in a case involving Terraform Labs and its former CEO, Do Kwon. The court granted summary judgment for the SEC on Count IV of the Amended Complaint, which pertains to the defendants’ unregistered offers and sales of LUNA and MIR […]
Argentina’s President Javier Milei has proposed a draft bill aimed at regularizing cryptocurrency holdings as part of his economic and political reform agenda. The bill, titled the ‘Law of Bases and Starting Points for the Freedom of Argentines,’ introduces an asset regularization scheme that offers tax incentives to individuals declaring crypto assets, regardless of their […]
In a significant move, India’s Finance Ministry has issued compliance show-cause notices to nine major offshore cryptocurrency exchanges, including industry giants like Binance, Huobi, and Kucoin. The government accuses these platforms of operating illegally within the country’s borders without adhering to local money laundering laws.The notices demand an explanation for their non-compliance with the established […]
