Kraken, a U.S.-based cryptocurrency exchange, has started requiring additional information in the U.K. regarding transactions of self-custody wallets made to and from its accounts. Kraken sent an email to some of its U.K. customers, stating that if the information required was not provided, it could result in an account lock until the required data is…
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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has assured lawmakers that the securities regulator “takes its cybersecurity obligations seriously.” Lawmakers raised concerns following the hacking of the SEC’s account on social media platform X, where a post falsely announced the approval of spot bitcoin exchange-traded funds (ETFs). Gensler: SEC Takes Cybersecurity Obligations Seriously…
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Five U.S. senators have expressed their concerns to the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, regarding the agency’s enforcement action against crypto firm Debt Box. The court found that the SEC made “materially false and misleading representations.” The lawmakers stressed: “We are greatly concerned by the Commission’s conduct in this…
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Four U.S. lawmakers have pressed Treasury Secretary Janet Yellen regarding crypto oversight gaps. The Financial Stability Oversight Council (FSOC), which Yellen chairs, has issued “repeated warnings about the lack of oversight of the digital asset markets,” the lawmakers detailed, questioning Yellen how the council believes existing laws should apply bitcoin, ether, and non-security crypto assets.…
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The U.S. and U.K. Financial Regulatory Working Group has emphasized the importance of effective regulation and oversight of crypto assets and markets. They also reiterated their support for the international work on crypto assets. US-UK Financial Regulatory Working Group Discusses Crypto Regulation The U.S.-U.K. Financial Regulatory Working Group (FRWG) convened in London for its ninth…
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The Blockchain Basics Act, a bill that seeks to secure the rights of state citizens regarding cryptocurrency ownership, self-custody, and mining, has reached Tennessee. The bill, supported by the Satoshi Action Fund, was introduced to the State House by Rep. Kevin Vaughan and simultaneously to the State Senate by Sen. Bo Watson. Blockchain Basics Act…
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An Indian national has pleaded guilty in a case involving “the largest single cryptocurrency and cash seizure” in the U.S. Drug Enforcement Administration (DEA) history. The defendant “is designated as a Consolidated Priority Target, which makes him one of the most significant drug trafficking threats in the world,” the U.S. Department of Justice (DOJ) described.…
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Samourai Wallet, River, Strike, Swan, and other companies in the cryptocurrency space have sent a letter to the Financial Crimes Enforcement Network (FinCEN), commenting on the proposed rules over mixing transactions introduced in October. These companies are asking FinCEN to withdraw its proposal because it considers it inadequate for many reasons, criticizing it for being…
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U.S. Senator Elizabeth Warren criticized the illegal use of cryptocurrency assets by bad actors. Commenting on a report issued by the U.S. Government Accountability Office (GAO), Warren declared that “rogue nations are using crypto to dodge sanctions and undermine our national security,” calling to establish increased money laundering rules on these assets. U.S. Senator Elizabeth…
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U.S. lawmakers have introduced a bill “to combat the illicit use of crypto assets.” The Preventing Illicit Finance Through Partnership Act “will allow federal regulators to work with the private sector to gain insight into the often-misunderstood world of crypto to weed out bad actors without crushing an entire emerging industry,” Senator Cynthia Lummis described.…
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