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 […]
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 […]
Stuart Alderoty, the Chief Legal Officer of Ripple Labs, and the XRP community have shown their support for SEC Commissioner Hester Peirce’s stance on the LBRY lawsuit. Alderoty expressed gratitude towards Commissioner Peirce and suggested that in cases of perceived injustice, it may be necessary to disregard standard protocols and raise concerns more vocally and […]
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 […]
The U.S. Deputy Treasury Secretary, Wally Adeyemo, has warned digital asset companies about the need to prevent illicit financial flows. Speaking at London’s Royal United Services Institute, Adeyemo highlighted that some companies in the crypto industry are more focused on technological innovations and overlook the potential consequences of unlawful funds. He emphasized the importance of […]
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 Securities and Exchange Board of India (SEBI) has taken action against social media influencers who provide financial advice without the necessary knowledge or experience. In a significant move, SEBI recently banned a finfluencer named Mohammad Nasiruddin Ansari, also known as ‘Baap of Chart,’ along with two others from the securities market. Ansari allegedly attracted […]
Amidst the ongoing legal battle between the United States Securities and Exchange Commission (SEC) and Ripple, a pro-XRP legal expert, James K. Filan, has revealed an important date that will determine the next phase of the case. According to Filan, the next phase will be determined on November 9, 2023. In a letter sent to […]
Taiwanese legislators have introduced the Virtual Asset Management Bill to the Legislative Yuan, aiming to provide better protection and supervision for customers in the virtual asset industry. The bill proposes obligations for virtual asset service providers (VASPs), such as separating customer funds, establishing internal controls, and joining trade associations. However, it does not currently require […]
Sam Bankman-Fried, the founder and former CEO of FTX, a prominent cryptocurrency exchange, is currently on trial in the United States District Court Southern District of New York. He is facing multiple charges, including embezzlement, speculative trading with customer funds, and misusing them for personal gain or political donations. In an unexpected turn of events, […]
