Digital asset platform Nuri has told customers to withdraw their funds in the next two months, after taking a hit from the crypto winter. Formerly known as Bitwala, the Berlin-headquartered cryptocurrency bank filed for insolvency earlier this year and failed to find a buyer. Nuri to Maintain Trading Until Last Day of November, Prepares to…
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Non-sanctioned foreigners are “more than welcome” at Intebix, but they need to set up a local bank card for crypto-to-fiat transactions, the CEO said. Some cryptocurrency exchanges continue onboarding Russian nationals despite the latest Western sanctions against Russia, but not without certain restrictions. In late September, Kazakhstan’s President Kassym-Jomart Tokayev witnessed the nation’s first regulated…
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Former Kraken CEO Jesse Powell previously warned crypto investors about the risks of holding crypto on a centralized exchange. Kraken is the latest cryptocurrency exchange to restrict accounts of Russian users on its platform in compliance with sanctions from the European Union. On Oct. 19, Kraken sent out email statements to its Russian clients to…
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The declaration marks the beginning of the long-awaited process of regulating crypto assets, which will produce benefits such as consumer protection and AML/KYC compliance. The Financial Sector Conduct Authority (FSCA), South Africa’s financial regulator, published a notice Oct. 19 indicating that the country’s 2002 Financial Advisory and Financial Intermediary Services Act (FAIS) has been updated…
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Over $2.5 billion have been stolen from cross-chain bridges in the past two years. According to a new report by crypto data aggregator Token Terminal, approximately 50% of exploits in decentralized finance, or DeFi, occur on cross-chain bridges. In two years’ time, more than $2.5 billion have been stolen by hackers from exploiting vulnerabilities on…
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An early draft of the 2022 IRS tax form sees cryptocurrencies, stablecoins and nonfungible tokens grouped under a new “Digital Asset” category. American taxpayers will find a broader, more defined category encompassing cryptocurrencies and nonfungible tokens (NFTs) in their 2022 IRS tax forms. The draft bill released by the Internal Revenue Service features a well-defined…
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A special team established by Interpol in Singapore will assist governments around the world in the fight against crimes involving virtual assets, the international police body announced ahead of its general assembly in India. Cryptocurrency and cybercrime will be the main focus of the forum. Interpol Sets Up Unit to Tackle Crypto-Related Crimes, Top Executive…
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Shares tumbled over 20% on the NASDAQ exchange on the weaker-than-expected earnings. On Oct. 18, Silvergate Capital, a crypto-fiat gateway network designed for financial institutions, announced its financial results for Q3 2022. The bank, known for services such as processing consumer fiat deposits to cryptocurrency exchanges, saw the transfer volume on the Silvergate Exchange Network…
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Law enforcement agencies are “very often” not properly trained or equipped to track crypto crimes, Interpol secretary general Jürgen Stock said. The International Criminal Police Organization is reportedly planning to strengthen its crackdown on cryptocurrency-related crimes by forming a dedicated division. Interpol, the world’s largest global police organization, has set up a special team in…
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It is an update to the original 100 million ecosystem funding proposal, which Terra developers say did not fit the community’s needs. On Monday, developers of the Terra ecosystem — consisting of Luna Classic (LUNC), which was formerly known as LUNA, TerraUSD Classic (USTC) and Luna 2.0 (LUNA) — proposed a revised expansion program for allocating…
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