Bobs-News 96 | MachinaTrader.com

India Issues Compliance Notices to Offshore Crypto Exchanges for Violating Money Laundering Laws

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 […]

Decentralized Finance Startup Levana Protocol Suffers $1.14 Million Loss in Security Exploit

The Levana perpetual swap protocol, operating on the Osmosis blockchain, recently suffered a significant exploit, resulting in a loss of $1.14 million. Over a 13-day period, an unauthorized party managed to drain more than $1.1 million from Levana’s liquidity pools, causing a loss of 10% of the protocol’s liquidity. The exploit was a result of […]

Crypto Compliance and Risk Management: Navigating the Evolving Regulatory Landscape

The growing Web3 market presents challenges in compliance and risk management for companies operating in the blockchain industry. With the complexities of decentralized finance (DeFi) and the increasing security risks, there is a critical need for robust compliance solutions.The regulatory landscape for crypto assets is constantly evolving, with different approaches taken by jurisdictions worldwide. The […]

India’s Financial Intelligence Unit Issues Show Cause Notices to Offshore Cryptocurrency Operators for Violating Money Laundering Laws

In a move to regulate the cryptocurrency sector, India’s Financial Intelligence Unit (FIU) has issued show cause notices to nine offshore Virtual Digital Assets (VDA) service providers for allegedly violating the Prevention of Money Laundering Act (PMLA) of 2002. The targeted firms, located in Seychelles, Cayman Islands, and Switzerland, include popular platforms such as Kucoin, […]

Celsius Mining Company Receives Final Approval for $225M Restructuring Plan

The United States Bankruptcy Court for the Southern District of New York has granted final approval for Celsius Mining Company’s restructuring plan. The plan involves the creation of a new public company focused on bitcoin mining, with $225 million in funding and the transfer of specific mining assets. The court also approved modifications to the […]

Experts Predict Exciting Future for Swiss Banking Industry

Matthias Geissbühler, the investment chief at Raiffeisen, leads clients through the stock market during the week. However, on Saturdays, he takes on a different role as singer-songwriter Matt, showcasing his new album to the audience. In an interview with finews.ch, Geissbühler discusses his passion for music and the parallels he sees between music and investing.The […]

Grayscale Reaches Compromise with SEC on Cash-Only Creation and Redemption

Grayscale, the digital asset management firm, has filed an amended S-3 filing with the United States Securities and Exchange Commission (SEC) following a recent leadership shuffle and the departure of Barry Silbert, the CEO of Grayscale’s parent company, Digital Currency Group. The filing indicates that Grayscale has reached a compromise with the SEC, agreeing to […]

TrueUSD Partners with MooreHK to Revolutionize Transparency in Stablecoin Market

TrueUSD, the fourth largest stablecoin in the market, has announced a strategic initiative to improve trust in stablecoins. The initiative aims to address the controversial issue of transparency of trust reserves in stablecoins. TrueUSD has partnered with MooreHK, one of the largest accounting firms in Hong Kong, to provide attestation services for its fiat reserves.Stablecoins […]

Former President Donald Trump Sells $2.4 Million Worth of Ethereum, Continues NFT Ventures

Former President Donald Trump has reportedly sold off 1,075 ETH, worth an estimated $2.4 million, over the past three weeks. The sale was made from a crypto portfolio believed to belong to Trump, and the ETH was sent to Coinbase. Trump has been trying to revive his non-fungible token (NFT) trading card business, but with […]

Argentina Proposes Bill to Regularize Cryptocurrencies, Boost Economy

The Argentine government has introduced a bill that aims to regulate undeclared cryptocurrencies, including bitcoin, under a new tax regime. The proposal, known as the “law of bases and starting points for the freedom of Argentines,” seeks to establish a legal framework for the regularization of assets, including cryptocurrencies and cryptoassets. This move recognizes the […]