A Chinese court has ruled that crypto lending falls outside the protection of the country’s legal system. The Nanchang People’s Court dismissed a lawsuit brought by an individual named Mr. Ming against Mr. Gang, who had defaulted on a loan of 80,000 Tether (USDT) for stablecoin trading. The court stated that Mr. Ming needed to […]
DeCurret Holdings, a group of Japanese companies, has published a White Paper outlining its plans to launch a digital currency project called DCJPY in July 2024. The project will consist of two areas: the Financial Zone and the Business Zone. The Financial Zone will involve banks minting digital currency on the blockchain, while the Business […]
Palau, a small island nation in the Pacific Ocean, is taking a significant step towards financial modernization by introducing a government-issued stablecoin powered by Ripple. This move aims to address the financial challenges faced by Palau, where cash transactions are prevalent and access to financial services is limited. By leveraging Ripple’s technology, Palau hopes to […]
U.S. Senators Elizabeth Warren and Angus S. King, Jr. have urged the U.S. Department of the Treasury and the Internal Revenue Service (IRS) to speed up the implementation of new tax reporting rules for cryptocurrency brokers. In a joint letter, the senators expressed concerns about the two-year delay in enforcing the rules, which is expected […]
Anatoly Yakovenko, co-founder of Solana, a smart contract platform, believes that one of the obvious use cases for cryptocurrency and blockchain technology is simple payments. In an interview, Yakovenko emphasized the importance of focusing on what already works at scale, and he sees payments as a prime example. He believes that digital assets can revolutionize […]
Seven U.S. senators, including Elizabeth Warren and Bernie Sanders, have urged the Treasury Department and IRS to expedite the implementation of tax reporting requirements for crypto brokers. The lawmakers expressed concern over the two-year delay in enforcing these rules, which are set to take effect in 2026 for transactions in 2025. They argued that the […]
FTX co-founder Sam Bankman-Fried reportedly considered selling equity in the company to Saudi Crown Prince Mohammed bin Salman, according to testimony from former Alameda Research CEO Caroline Ellison during Bankman-Fried’s trial for alleged fraud. The testimony revealed that Bankman-Fried and Ellison discussed methods to hedge their investments in 2022, with the potential investment from the […]
Israeli crypto firms are dealing with the aftermath of a surprise attack by Hamas fighters. While many of these firms are not experiencing severe disruptions to their business operations, some employees are being called up for reserve duties in the army. In response to the ongoing war, Israeli crypto firms have launched a campaign called […]
Former Alameda Research CEO Caroline Ellison testified in court, providing more details about the financial crimes she and her ex-boyfriend, Sam Bankman-Fried, committed at FTX. Ellison revealed that FTX bribed the Chinese government with $100 million in order to unlock a larger pool of frozen assets. The bribery occurred after other attempts to recover funds […]
Former Alameda Research CEO Caroline Ellison testified in court that Sam “SBF” Bankman-Fried, the CEO of FTX, considered raising equity for the crypto exchange by seeking an investment from Saudi Crown Prince Mohammed bin Salman, also known as MBS. Ellison revealed that she had discussed hedging Alameda investments with Bankman-Fried in 2022, during which he […]
