Regulation

On Tuesday, one day after the U.S. Treasury sanctioned cryptocurrency mixer Tornado Cash for its alleged role in cryptocurrency money laundering operations, intervals of 0.1 Ether (ETH) transactions began materializing from the smart contract to prominent figures such as Coinbase CEO Brian Armstrong and American television host Jimmy Fallon. It is not possible to trace the source of

The Reserve Bank of Australia weighs in the central bank digital currencies (CBDCs) race to explore use cases for a CBDC in the country. It will collaborate with the Digital Finance Cooperative Research Centre (DFCRC) on a respective research project.  As stated in an announcement from Aug. 9, the joint project of the Reserve Bank

According to crypto data aggregator Dune Analytics, on Monday, Circle, the issuer of the USD Coin stablecoin (USDC), froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the U.S. Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals and Blocked Persons (SDN) list. Tornado Cash is a decentralized

The fifth annual Korea Blockchain Week kicked off on Sunday, with more than 7,000 people attending Asia’s largest blockchain event of 2022.  The Seoul-based event is set to run its main-stage sessions on Aug. 8 and 9, while side events such as music festivals and nonfungible token (NFT) art galleries will go through until Aug. 12.

Accused BTC-e operator Alexander Vinnik has reportedly been extradited to America to face up to multiple charges relating to money laundering while working at the now-defunct cryptocurrency exchange. Vinnik has been embroiled in legal battles over the past five years for his alleged role as the mastermind of BTC-e. The cryptocurrency exchange is said to

The United Kingdom is paving the road for cryptocurrency services, courting startups and established players alike while leading the way in pioneering regulation on stablecoins and nonfungible tokens. But a lot has changed. After two years of deliberations, European Union lawmakers achieved agreement on the Markets in Crypto-Assets (MiCA) regulation, marking a pivotal moment for

Coinbase is now facing increased scrutiny from regulators, with the company now becoming the target of multiple lawsuits. The San Francisco-based cryptocurrency exchange, which is presently being investigated by the United States Securities and Exchanges Commission (SEC), now faces two additional legal claims from two law firms. On Thursday, New York-based legal firm Bragar Eagel

A group of five lawmakers from the United States House of Representatives has requested data on the diversity and inclusion practices of 20 major firms dealing with cryptocurrencies and Web3. In a Thursday notice, House Financial Services Committee chair Maxine Waters along with Representatives Joyce Beatty, Al Green, Bill Foster and Stephen Lynch penned a

India’s Directorate of Enforcement, or ED, has announced it froze roughly $8.1 million in funds and conducted a search connected to cryptocurrency exchange WazirX as part of an investigation into instant personal loan fraud. In a Friday announcement, the Directorate of Enforcement alleged WazirX facilitated transactions by unnamed fintech firms “to purchase crypto assets and

On top of its wholesale central bank digital currency (CBDC) projects and proof-of-concept Retail CBDC testing with corporates, the Bank of Thailand (BOT) will extend the scope of CBDC development aimed at retail to a pilot phase. A possible real-life application of the “Retail CBDC” will be conducted inside the private sector on a limited

The Tech Transparency Project, or TTP, a research initiative of the United States-based nonprofit watchdog group Campaign for Accountability, has released a report claiming crypto firms “provided little in return” for state governments offering financial incentives.  In a report released Thursday, the TTP said that many crypto firms based in certain U.S. states have “reaped

The Japan Crypto-Asset Business Association (JCBA) and the Japan Crypto-Asset Exchange Association (JVCEA), the two prominent crypto advocacy groups in Japan, released a tax reform request that calls for lowering taxes for individual investors on crypto earnings.  The fiscal 2023 tax reform request addressed key issues that the advocacy groups believe act as a hindrance

Former Coinbase Global product manager Ishan Wahi pleaded not guilty to two counts of wire fraud conspiracy and two counts of wire fraud in a Manhattan federal court on Wednesday, Reuters reported. Wahi is accused by United States law enforcement and the Securities and Exchange Commission (SEC) of insider trading while at Coinbase. He was

Pump-and-dump operations, which fraudulently manipulate prices by disseminating false information, have existed in economic contexts since at least the 1700s. For instance, con artists with shares in the South Sea Company started making false statements about the business and its revenues in the beginning of the eighteenth century.  The plan was to inflate the stock

The New York Department of Financial Services, or NYDFS, has announced a $30 million penalty on Robinhood’s cryptocurrency arm for alleged violations related to anti-money laundering, cybersecurity and consumer protection laws. In a Tuesday announcement, NYDFS superintendent Adrienne Harris said Robinhood Crypto will pay a $30 million penalty to the state “for significant failures in

A recent study conducted by the European Central Bank (ECB) on identifying the ultimate cross-border payment medium crowned central bank digital currencies (CBDCs) as the winner against competitors, including banking, Bitcoin (BTC) and stablecoins, among others. ECB’s interest in identifying the best cross-border payment solution stems from the fact that it serves as the central bank

Authorities in Israel on Monday has in put in place further restrictions on cash payments as a means to combat illegal activity and spur digital payments in the country.  Since January 2019, Israeli businesses and consumers have been subject to limits on cash payments under the Law for the Reduction in the Use of Cash.

Crypto lender Voyager Digital has been directed to remove “false and misleading” statements that its user’s deposit accounts are FDIC insured. In a joint letter written on Thursday by Seth Rosebrock and Jason Gonzalez, assistant general counsel at the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) to Voyager Digital, the authors said the

Legal marriage proceedings, court case disputes and government services may one day be offered on the Metaverse, according to a Singaporean government minister.  Speaking at the TechLaw Fest 2022 on July 20, Singapore’s Second Minister for Law Edwin Tong argued even highly personalized, intimate events such as the solemnization of marriages have taken place online

The United States House of Representatives passed the Chips and Science Act on Thursday by a vote of 243 to 187. The bill, which was introduced into the Senate over a year ago, provides grants and incentives to the semiconductor industry and encourages research. It also creates a blockchain and cryptocurrency specialist position in the