South Korean prosecutors have raided two of the country’s largest coin trading platforms within an investigation into the crypto investments of a politician. They seized materials from Upbit and Bithumb amid suspicions of wrongdoing related to the lawmaker’s cryptocurrency holdings. South Korean Law Enforcement Authorities Check Records From 3 Crypto Platforms Investigators from the Seoul…
Read more
Many members of the crypto community believe Ledger’s latest seed phrase recovery feature is a bad idea. Several crypto community members, including Ledger wallet owners, have taken to social media to express their discontent following the release of Ledger’s latest feature. The newly introduced retrieval solution for its hardware crypto wallets, known as Ledger Recover,…
Read more
Altman appeared alongside NYU professor Gary Marcus and IBM chief of trust Christina Montgomery to discuss how the U.S. government should regulate the AI industry. Sam Altman, the CEO of OpenAI and co-founder of Worldcoin, recently testified before Congress alongside IBM’s chief of trust, Christina Montgomery, and NYU professor Gary Marcus. The Senate Judiciary Privacy,…
Read more
Crypto investment firm CoinShares posted its most profitable quarter in a year, according to its latest quarterly earnings report. Cryptocurrency investment group CoinShares recently published its first quarter earnings report for 2023 amid what it’s calling a “return to profitability.” Highlights of the report include revenue in the amount of $11.73 million (down from $22.46…
Read more
A related report by the FDIC chief risk officer cited poor management as “the root cause of Signature Bank’s failure.” Investigations into the collapse of Signature Bank point toward illiquidity circumstances and poor management. However, the Federal Deposit Insurance Corporation (FDIC) chairman, Martin Gruenberg, believes the bank’s failure to understand the risks associated with cryptocurrencies…
Read more
A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over Crypto Holdings Kim Nam-kuk,…
Read more
Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. Meanwhile, Russian companies are already using digital assets in cross-border settlements, the official noted. Russian Legislature to Vote on Crypto Laws by End of July The State Duma, the lower house of…
Read more
The U.S. Internal Revenue Service (IRS) said it’s working closely with Ukraine to help it trace crypto transactions of Russian sanctions evaders. The agency is providing the Ukrainians access to a Chainalysis tool as well as specialized training to Ukrainian law enforcement. IRS Offers Ukraine Tools From Chainalysis to Trace Russian Blockchain Transactions The criminal…
Read more
The new law, signed by Governor Ron DeSantis, also urges other states to take action against the potential introduction of CBDCs through their commercial codes. Florida Governor Ron DeSantis signed a bill restricting the use of central bank digital currencies (CBDCs) in the state, according to local news sources. The governor urged state lawmakers in…
Read more
Binance is the latest in a string of departures from CEO Changpeng Zhao’s home country; it promises to keep working with regulators. Binance will withdraw from the Canadian market, the cryptocurrency exchange announced on Twitter on May 12. It called its withdrawal “proactive” as new guidance issued by Canadian regulators continues to take a toll…
Read more
