India is working on a crypto regulatory framework based on the joint recommendations of the International Monetary Fund (IMF) and the Financial Stability Board (FSB) that could result in legal legislation in the next 5-6 months. The framework is a five-point approach that focuses on setting up advanced Know Your Customer (KYC) for crypto companies, […]
Travis Kling, founder of Ikigai Asset Management, has recently warned of a potential “implosion” at Binance, citing a timeline of “negative events” since December 2022. These events include withdrawal from certain jurisdictions, mass layoffs, and lawsuits from the US’s chief market regulators. Kling suspects Binance may have an FTX-like asset-liability mismatch, which is when exchanges […]
Brinc, a venture accelerator headquartered in Hong Kong, has partnered with Cointelegraph to create a two-way bridge between their Web3-focused accelerators. The aim is to combine Cointelegraph’s global audience and marketing experience with Brinc’s expertise in product development, token design, scaling strategy and network introductions.The partnership will hold joint demo days for up-and-coming Web3 startups, […]
The FBI has revealed that the North Korean state-backed hacker group Lazarus Group was responsible for a Sept. 4 exploit of online casino platform Stake that resulted in $41 million in cryptocurrency being lost. The FBI identified 33 crypto addresses that received the stolen funds, including four Ethereum (ETH) addresses, five Binance Smart Chain (BSC) […]
The Tokenized Asset Coalition (TAC) is a new advocacy group formed by seven leaders in decentralized finance (DeFi). The founding members are Aave Companies, Centrifuge, Circle, Coinbase, Base, Credix, Goldfinch and RWA.xyz, but membership is open to any organization that shares the vision of creating a unified financial system on the blockchain. The group’s initial […]
Taiwan is reportedly planning to put restrictions on unregistered overseas crypto exchanges operating within its jurisdiction as a part of its incoming guidance for virtual asset service providers (VASPs). The Financial Supervisory Commission (FSC) of Taiwan has created a draft of ten guiding principles for the management of virtual currencies in the country. These principles […]
Under India’s G20 presidency, discussions are underway to establish a global framework for cryptocurrencies. Indian Prime Minister Narendra Modi has called for global collaboration on formulating crypto regulations among G20 member states. India’s Minister of Finance Nirmala Sitharaman confirmed this during the Global Fintech Fest on Sept 5, noting that crypto is both a threat […]
The South Korean government is planning to submit a bill that will enable it to track and freeze crypto assets used by North Korea for its weapons program. The bill includes provisions for the monitoring and mitigating of cryptocurrency assets stolen by North Korea through hacking activities, and seeks to augment the sanctions against the […]
The Financial Services Agency (FSA) of Japan has proposed to change the tax code in regard to digital assets. The most notable suggestion is to free domestic firms from the end-of-the-year “unrealized gains” tax on crypto. The amendment, proposed by the FSA, has the potential to be effected, as the Agency states that the Ministry […]
A recent tweet by Chinese journalist Colin Wu provided an update on a significant crypto hack that took place in August. The hack targeted BitBrowser, a platform frequently used by cryptocurrency enthusiasts who participate in airdrops. The perpetrators of the breach transferred 236.27 Ethereum tokens, worth approximately $386,000, to a crypto mixer named eXch in […]
