modernsociety
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10 months, 2 weeks agoChinese Authorities Crack Down on Tether USDT in Foreign Exchange Trading
Chinese authorities are taking steps to crack down on the use of cryptocurrencies, specifically Tether USDT, in foreign exchange trading. The Supreme People’s Procuratorate (SPP) and the State Administration of F…
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10 months, 2 weeks agoCybercriminals and Hacks Lead to $1.8 Billion Loss in Web3
In 2023, an estimated $1.8 billion was lost to hackers and scammers in the Web3 space. Nearly one-fifth of these losses were attributed to the Lazarus hacker group, which has connections to North Korea.According to…
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10 months, 2 weeks agoARK Invest Files Final Amendment for Bitcoin ETF, Aims for January Approval
ARK Invest has filed its final S-1 amendment for its proposed spot Bitcoin ETF, positioning itself to be considered in the first wave of approvals in January. The Securities and Exchange Commission (SEC) reportedly…
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10 months, 2 weeks agoTerraform Labs Secures Partial Victory in SEC Case, but Faces Unregistered Securities Sales Allegations
Terraform Labs, the blockchain company, has achieved a partial victory in a case brought against it by the U.S. Securities and Exchange Commission (SEC). Judge Jed Rakoff issued a summary judgment in favor of…
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10 months, 2 weeks agoZuger Kantonalbank Becomes First Swiss Bank to Offer Regulated Crypto Trading
The Zuger Kantonalbank, a Swiss bank, has announced that it is now offering its customers the ability to buy, trade, and securely store the most popular cryptocurrencies within a fully regulated banking…
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10 months, 2 weeks agoIndian Regulator Issues Compliance Notices to 9 Major Crypto Exchanges, Seeks URL Blockage
India’s regulatory body has issued compliance notices to nine cryptocurrency exchanges, including major players like Binance, Kucoin, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex and Huobi. The watchdog i…
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10 months, 2 weeks agoCrypto Hacking Group "Pink Drainer" Steals $4.4 Million in Chainlink LINK from Single Victim
A crypto hacking group known as “Pink Drainer” has recently been linked to a significant theft of $4.4 million worth of Chainlink LINK cryptocurrency. The victim was tricked into signing an “Increase Appro…
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10 months, 2 weeks agoCourt Rules TerraUSD and Luna as Unregistered Securities in Landmark SEC Case
In a groundbreaking decision, U.S. District Judge Jed Rakoff ruled in favor of the Securities and Exchange Commission (SEC), confirming that Terraform Labs and its founder, Do Kwon, engaged in the offering and sale…
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10 months, 2 weeks agoCanadian Crypto Exchange Catalyx Suspends Trading and Withdrawals Following Security Breach
Catalyx, a prominent Canadian cryptocurrency exchange, has temporarily suspended all trading activities, deposits, and withdrawals following a security breach. The company suspects the involvement of one of its…
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10 months, 2 weeks agoRepublican Lawmakers Call for Removal of SEC Chair Gary Gensler Over Alleged Bias and Damage to Digital Asset Industry
Republican lawmakers are calling for the removal of Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), citing bias and damage to the digital asset industry. Congressman Warren Davidson,…
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10 months, 2 weeks agoCrypto Exchange Catalyx Suspends Trading and Withdrawals After Security Breach
Canadian crypto exchange Catalyx has temporarily suspended all trading activity and withdrawals after discovering a security breach. The breach is suspected to involve one of the company’s employees, leading to t…
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10 months, 2 weeks agoCoinbase International Increases Perpetual Futures Leverage Limit to 10x
Coinbase International, the international trading arm of Coinbase, has announced that it has set leverage limits to 10X on its perpetual futures contracts. This upgrade allows users to execute more efficient…
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10 months, 2 weeks agoCourt Rules in Favor of SEC in Unregistered Securities Case Against Terraform Labs and Former CEO
A United States court has ruled in favor of the Securities and Exchange Commission (SEC) in a case involving Terraform Labs and its former CEO, Do Kwon. The court granted summary judgment for the SEC on Count IV of…
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10 months, 2 weeks agoMonex Group to Acquire Majority Stake in 3iQ Digital Holdings, Expanding Crypto Asset Management Business
Japan-based brokerage firm Monex Group has announced its plans to acquire a majority stake in 3iQ Digital Holdings, a Canada-based asset manager and crypto exchange. Monex cited 3iQ’s experience in listing the f…
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10 months, 2 weeks agoArgentina's President Proposes Tax Incentives for Crypto Regularization in Controversial Draft Bill
Argentina’s President Javier Milei has proposed a draft bill aimed at regularizing cryptocurrency holdings as part of his economic and political reform agenda. The bill, titled the ‘Law of Bases and Starting Poi…
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10 months, 2 weeks agoIndia Issues Compliance Notices to Offshore Crypto Exchanges for Violating Money Laundering Laws
In a significant move, India’s Finance Ministry has issued compliance show-cause notices to nine major offshore cryptocurrency exchanges, including industry giants like Binance, Huobi, and Kucoin. The government a…
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10 months, 2 weeks agoDecentralized Finance Startup Levana Protocol Suffers $1.14 Million Loss in Security Exploit
The Levana perpetual swap protocol, operating on the Osmosis blockchain, recently suffered a significant exploit, resulting in a loss of $1.14 million. Over a 13-day period, an unauthorized party managed to drain…
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10 months, 2 weeks agoCrypto Compliance and Risk Management: Navigating the Evolving Regulatory Landscape
The growing Web3 market presents challenges in compliance and risk management for companies operating in the blockchain industry. With the complexities of decentralized finance (DeFi) and the increasing security…
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10 months, 2 weeks agoIndia's Financial Intelligence Unit Issues Show Cause Notices to Offshore Cryptocurrency Operators for Violating Money Laundering Laws
In a move to regulate the cryptocurrency sector, India’s Financial Intelligence Unit (FIU) has issued show cause notices to nine offshore Virtual Digital Assets (VDA) service providers for allegedly violating the P…
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10 months, 2 weeks agoCelsius Mining Company Receives Final Approval for $225M Restructuring Plan
The United States Bankruptcy Court for the Southern District of New York has granted final approval for Celsius Mining Company’s restructuring plan. The plan involves the creation of a new public company focused o…
