Recently, blockchain analytics firm Elliptic uncovered that the notorious North Korea-backed hacker group Lazarus has once again turned to using the sanctioned crypto mixer Tornado Cash to conceal its transactions. This move comes after a significant decline in the group’s usage of the mixer last year following US government sanctions. Impact of US Sanctions After
Regulation
In a recent collaboration with the US Department of Justice and the FBI, stablecoin issuer Tether took action against a tech support scam network, seizing $1.4 million USDT linked to the fraudulent scheme. The scam targeted vulnerable elderly individuals through deceptive pop-up advertisements, falsely claiming compromised devices and luring victims into seeking assistance from fake
The Biden administration recently unveiled its proposed budget for the year 2025, which includes several regulatory measures aimed at digital assets. These measures are expected to generate around $10 billion in additional tax revenue by 2025. One of the key focuses of the budget is closing a loophole that has allowed wealthy crypto investors to
Recently, Tools for Humanity, the developer behind Worldcoin, filed a lawsuit challenging Spain’s ban on its data collection and usage within the country for three months. The lawsuit was prompted by Spain’s regulators issuing an order that circumvented the regular process around EU GDPR rules. In response, Worldcoin stated in a blog post that the
US Federal Reserve Chair Jerome Powell recently addressed lawmakers about the Federal Reserve’s position on a central bank digital currency (CBDC). During a Senate Banking Committee hearing on monetary policy, Powell emphasized that the regulator is not close to adopting or recommending a CBDC. One of the main concerns raised by Powell was related to
The recent joint motion filed by the SEC on March 5 against Binance.US has brought to light issues surrounding regulatory compliance. The SEC alleges that Binance.US has failed to fully comply with information requests on customer assets, citing insufficient inspections, refusal to answer critical questions, and changes to operations without updates. On the other hand,
The Indian government recently made headlines with the announcement of a new regulation concerning the development and release of artificial intelligence (AI) tools. This regulation requires technology companies to obtain government approval before publicly releasing AI tools that are still in the development stage or are deemed “unreliable.” The move is part of India’s larger
Recently, Hong Kong’s Securities and Futures Commission (SFC) raised an alarm against suspicious websites that are posing as licensed crypto exchanges within the city-state. The warning highlighted the deceptive tactics employed by these websites, which impersonate legitimate entities like Hash Blockchain Limited and OSL Digital Securities Limited. These fraudulent websites have managed to mislead unsuspecting
Hungary is making waves in the financial sector with a proposed legislative initiative that would allow banks, investment funds, and asset managers to offer services in Bitcoin and other cryptocurrencies. This move aligns with the broader European trend towards embracing digital assets and could have significant implications for the country’s economy. The draft legislation, put
Senator Elizabeth Warren has made it clear that she is open to engaging with the crypto industry, but only under the condition that regulatory standards are upheld. She expressed her willingness to collaborate with the industry, as long as players in the space are willing to adhere to regulations similar to those that govern traditional
A group of Senate Republicans, led by Senator Ted Cruz of Texas, has taken legislative steps to limit the Federal Reserve’s ability to introduce a central bank digital currency (CBDC). This move brings attention to the issue as a possible focal point in the 2024 presidential campaign discussions. The proposed bill, known as the Central
The Energy Information Administration (EIA) made the decision to pause the controversial survey of crypto mining firms on Feb. 23 after facing a lawsuit from members of the crypto mining sector. This lawsuit was brought forward by crypto mining company Riot Platforms and the Texas Blockchain Council on Feb. 22. The lawsuit named the EIA,
The warning issued by House Majority Whip Tom Emmer on Feb. 22 highlighted a concerning development for Bitcoin mining firms under the Biden administration. Emmer’s letter to the Office of Management and Budget (OMB) raised alarm about the approval and expedited implementation of a new information collection regime by the Energy Information Administration (EIA) targeted
South Africa has recently unveiled plans to integrate digital payments and cryptocurrencies into its financial system with the aim of boosting the economy, particularly for marginalized groups. This announcement, which was made as part of the country’s 2024 budget, underscores the government’s commitment to building a digital economy through collaborative efforts between the public and