The ongoing bankruptcy case of FTX, a defunct crypto exchange, has taken a complex turn with the Internal Revenue Service (IRS) seeking around $24 billion from the exchange. This amount has been reduced from the initial claim of $44 billion filed by the IRS in April. FTX lawyers are disputing the method used by the […]
El Salvador’s Bitcoin bonds have received regulatory approval and are set to launch in the first quarter of 2024, according to the country’s National Bitcoin Office. The bonds, known as the Volcano Bond, are seen as a significant step towards establishing Bitcoin-focused capital markets in the country. The trading activities of the bonds will be […]
The US authorities have proposed a bipartisan Digital Asset Anti-Money Laundering Act in response to the growing threat posed by the crypto industry to financial stability. The Act has gained support from a coalition of senators, including Elizabeth Warren, who expressed excitement about the new senators joining the fight against the illicit use of crypto. […]
Senator Elizabeth Warren’s proposed crypto Anti-Money Laundering bill has sparked controversy within the crypto industry. However, critics have pointed out that Warren’s bills have a history of not gaining traction.According to data from GovTrack, Warren has introduced 330 bills during her time as a senator, but only one has been enacted as is. Most bills […]
El Salvador has received regulatory approval for its long-awaited Bitcoin bonds, also known as “Volcano Bonds.” The bonds are expected to launch in early 2024, according to the National Bitcoin Office of El Salvador. The approval was granted by the Digital Assets Commission. The country’s pro-Bitcoin leader, Nayib Bukele, also confirmed the news on social […]
South Korea’s top financial regulator, the Financial Services Commission (FSC), has proposed new regulations for crypto assets, specifically targeting non-fungible tokens (NFTs), interest on deposits, and the security of customer assets.The FSC aims to exclude NFTs from existing regulations that define “virtual assets” like cryptocurrencies. This is because NFTs have unique characteristics and are not […]
Binance founder Changpeng “CZ” Zhao has been ordered to stay in the United States until his sentencing in February 2024. A federal judge determined that there is a flight risk if Zhao is allowed to return to the United Arab Emirates. The judge cited Zhao’s enormous wealth and property abroad, as well as his lack […]
Senator Elizabeth Warren’s proposed bill to regulate cryptocurrencies has gained support from five additional senators, including members of the Senate Banking, Housing and Urban Affairs Committee. The Digital Asset Anti-Money Laundering Act aims to address the risks of illicit finance associated with digital assets by expanding the definition of “financial institutions” to include cryptocurrency miners, […]
Russian President Vladimir Putin has made a bold prediction about the future of Western banking dominance and the rise of Bitcoin. Speaking at the VTB Investment Forum in Moscow, Putin stated that the era of Western technologies is coming to an end and that Bitcoin will play a role in reshaping international finance in the […]
A prominent crypto lawyer, John Deaton, has made serious allegations against Senator Elizabeth Warren regarding her oversight responsibilities of the Securities and Exchange Commission (SEC). Deaton claims that Warren has overstepped her role by conspiring with SEC Chairman Gary Gensler, providing him with pre-arranged questions and suggested answers ahead of Congressional hearings. Deaton argues that […]
