The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed new regulations that could restrict crypto mixers, citing them as a “class of transactions of primary money laundering concern.” The agency believes that actors such as Hamas, ISIS, and the DPRK frequently abuse coin mixers for illicit activities. The lack of transparency in crypto mixing […]
Recent estimates of crypto funding for terrorist organizations like Hamas and the Palestinian Islamic Jihad (PIJ) may have been exaggerated, according to blockchain analysis firm Chainalysis. In a blog post, the company argues that some analyses have mistakenly attributed all transactions sent to crypto service providers as terror financing. Chainalysis estimates that the actual amount […]
Blockchain software developer Lightning Labs has launched its Taproot Assets protocol on the mainnet network. This protocol allows for the issuance of stablecoins and real-world assets on the Bitcoin and Lightning Network. The current version, Taproot Assets v0.3, leverages existing Bitcoin liquidity on the Lightning Network and is open for developers to test for potential […]
In a recent blog post, Coinbase, the largest US-based crypto exchange, has expressed its concern about the flourishing of cryptocurrencies in offshore jurisdictions. The company argues that allowing digital assets to thrive in areas not subject to US laws will only facilitate illicit activities by bad actors. Coinbase emphasizes its commitment to compliance and its […]
Former FTX CEO Sam “SBF” Bankman-Fried is currently on trial in New York, and new details have emerged regarding the commingling of funds between FTX and Alameda Research. Testimony from FTX’s former general counsel, Can Sun, revealed that he was unaware of the exchange’s commingling of funds with Alameda. Sun learned that Alameda had bypassed […]
The Federal Deposit Insurance Corporation (FDIC) is under pressure to address the risks associated with cryptocurrencies. The Office of the Inspector General has issued a report urging the FDIC to assess and prepare for the challenges posed by the evolving crypto landscape. The report emphasizes the need for a comprehensive risk assessment and outlines recommendations […]
South Korean authorities have expressed concerns about SUI Network, citing discrepancies in the circulating supply of their token and potential fraud. The government audit revealed that the token’s value has plummeted by over 91% since its launch in May, leading regulators to suspect undisclosed self-interests by the SUI Foundation. Lawmakers, including Min Byung-deok, believe that […]
Billionaires Elon Musk and Mark Cuban have teamed up to challenge the U.S. Securities and Exchange Commission’s (SEC) practice of conducting in-house trials without juries. They have filed a joint amicus brief to the Supreme Court, questioning the legitimacy of the SEC’s administrative proceedings and their impact on the Seventh Amendment right to a jury […]
The Stellar Lumens blockchain is undergoing an upgrade to support smart contracts, aiming to challenge Ethereum’s dominance in the space. The new Soroban project will attract developers, users, and new applications to the network, which was initially focused on payments. This upgrade, set to launch later this year, is expected to be the biggest since […]
New York’s attorney general, Letitia James, has filed a lawsuit against cryptocurrency firms Gemini, Genesis, and Digital Currency Group (DCG) for allegedly defrauding investors through the Gemini Earn investment program. The lawsuit claims that the companies deceived over 23,000 investors, including 29,000 New York citizens, out of more than $1 billion. According to the investigation […]
