US lawmakers are calling on the Department of Justice (DOJ) to take action against major cryptocurrency companies Binance and Tether. They allege that these companies have facilitated illicit financial activities, including funding for the terrorist group Hamas. Senator Cynthia Lummis and Representative French Hill have sent a letter to Attorney General Merrick Garland, citing media […]
Michael J. Saylor, co-founder of Microstrategy, has expressed his belief that Bitcoin could be the solution to Lebanon’s financial crisis. The country’s currency has lost a staggering 96% of its value against the US Dollar, leading to anarchy and hyperinflation. Saylor claims that commercial banks have failed Lebanon, and digital assets like Bitcoin offer a […]
Lawyers representing Avraham Eisenberg, the individual accused of exploiting Mango Markets for $116 million, have successfully convinced a judge to postpone his fraud trial until April 8, 2023. The trial was originally scheduled to begin on December 4, but Eisenberg’s legal team argued that various circumstances had hindered their trial preparations. Despite confessing his involvement […]
In a significant move to combat sanctions evasion and illicit financial activities, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on Ekaterina Zhdanova, a Russian national allegedly involved in laundering and transferring funds using crypto on behalf of Russian elites. This action aligns with the G7’s commitment to […]
The U.S. Department of the Treasury has imposed sanctions on a Russian national, Ekaterina Zhdanova, for her involvement in helping Russian oligarchs evade sanctions using cryptocurrency. Zhdanova was tasked with moving over $100 million in crypto from Russia to the United Arab Emirates (UAE) on behalf of one oligarch. She also played a role in […]
The Emirate of Abu Dhabi has established a comprehensive regulatory framework for digital ledger technology, positioning itself as the second crypto hub in the UAE alongside Dubai. The Registration Authority of Abu Dhabi Global Market (ADGM) has released the Distributed Ledger Technology (DLT) Foundations Regulations 2023, which aim to provide regulatory clarity for the crypto […]
Ripple has achieved a significant milestone in the XRP ecosystem with the official approval of its cryptocurrency for use within Dubai’s financial ecosystem. The Dubai Financial Services Authority (DFSA) has given the green light for licensed organizations in the Dubai International Financial Centre (DIFC) to utilize XRP as a virtual asset service. This approval will […]
Ripple’s XRP token has gained approval from the Dubai Financial Services Authority (DFSA) under its virtual assets regime. This means that licensed virtual asset firms within the Dubai International Financial Centre (DIFC) area can now make use of XRP. Ripple, which has chosen the DIFC as its Middle East and North Africa (MENA) headquarters, expressed […]
A New York jury has begun deliberations in the trial of Sam Bankman-Fried, the CEO of FTX, who is accused of committing fraud. The prosecution argued that Bankman-Fried deceived FTX customers and acted improperly with their funds. They highlighted inconsistencies between his public image and private actions, as well as discrepancies in financial statements. The […]
Ripple has received official approval from the Dubai Financial Services Authority (DFSA) for its XRP cryptocurrency token. This means that licensed firms in the Dubai International Financial Centre (DIFC) can now incorporate XRP into their virtual asset services. The DFSA’s virtual assets regime now allows for four digital assets, including Bitcoin (BTC), Ethereum (ETH), Litecoin […]
