Terraform Labs co-founder Do Kwon is expected to be extradited to the United States to face criminal charges. He will remain in Montenegrin custody until February, as requested by authorities from the U.S. and South Korea.Kwon, a South Korean national, was arrested in Montenegro in March for using falsified travel documents and was sentenced to […]
Cryptocurrency exchange KuCoin has agreed to pay $22 million to settle a lawsuit filed by the New York Attorney General (NYAG). The exchange was accused of operating in the state without proper registration. As part of the settlement, KuCoin will reimburse New York customers with $16.77 million and pay an additional $5.3 million to the […]
Terraform Labs co-founder Do Kwon’s custody in Montenegro has reportedly been extended by two months, according to a spokesperson for the High Court. Kwon, along with Terraform Labs CFO Han Chang-joon, was arrested in March for traveling with forged documents. While Kwon’s four-month sentence is coming to an end, he will not be released as […]
CFTC Chair Rostin Behnam has expressed his belief that the majority of cryptocurrencies should be classified as commodities under current laws. In a recent statement, Behnam emphasized the importance of legitimizing the crypto industry through legislation and called on Congress to take action.Behnam’s remarks highlight the growing recognition of cryptocurrencies as a permanent fixture in […]
The XRP community has received positive news as one of the leading crypto storage platforms, Blockchain.com, has added support for the token. This follows a recent ruling by Judge Analisa Torres, which provided regulatory clarity for XRP.In a post on their platform, Blockchain.com announced that users can now store XRP in their wallets. This development […]
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 […]
A German insurance group, Signal Iduna, is reported to have almost 1 billion euros in outstanding loans to the troubled Signa Group, an investment firm owned by René Benko. Other insurers, including Ergo, R+V, Allianz, and Volkswohl-Bund, have also provided significant loans to Signa, totaling hundreds of millions of euros. Despite the financial difficulties faced […]
Dubai’s Virtual Assets Regulatory Authority (VARA) has granted a conditional license to Enjinstarter’s AYA platform for offering crypto asset and investment services. The license is subject to certain conditions that need to be fulfilled before the platform can commence its services. Once all the requirements set by VARA are met, the platform will undergo regulatory […]
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 […]
The Financial Services Commission (FSC) in South Korea has announced new regulations aimed at bolstering investor protection and promoting transparency in the cryptocurrency market. Under the revised regulations, investors in crypto assets will be entitled to receive interest payments on their deposits made through exchanges. This move is intended to ensure the adequate protection of […]
