Celsius’ bankruptcy proceedings resulted in 14,000 pages of customer data leaking to the public. The incident displayed the pitfalls of centralized finance. In Celsius Network’s recent court filing, the billion-dollar centralized finance (CeFi) platform exposed more than 14,000 pages of customer identity and on-chain transaction data without user consent — a prescient reminder that privacy…
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A House committee has sent letters to four U.S. federal agencies and five cryptocurrency exchanges asking for information about what they are doing to combat cryptocurrency fraud and scams. Congress Questions Regulators and Crypto Exchanges The House Committee on Oversight and Reform sent letters to four U.S. federal agencies and five crypto exchanges on Tuesday…
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FTX made an error in messaging when it suggested depositors were insured, but federal regulators will have a hard time proving the exchange did so with sinister motives. In a cease-and-desist letter to fast-growing crypto exchange FTX, the Federal Deposit Insurance Corporation (FDIC) shed light on a now-deleted tweet from the exchange’s president, Brett Harrison,…
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Korea’s Financial Intelligence Unit is cracking down on foreign-based cryptocurrency exchanges that are yet to register with relevant authorities in the country. Unregistered cryptocurrency exchanges operating in South Korea could see their services grind to a halt as the Korea Financial Intelligence Unit (FIU) takes action against 16 foreign-based firms. The FIU has notified its…
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The digital currency exchange Huobi Global has revealed it has acquired Bitex, a Latin American crypto platform that operates in Argentina, Chile, Paraguay, and Uruguay. Huobi details that the company is stepping up its presence in Latin America as it believes the region will be one of the most active crypto adoption areas worldwide. Huobi…
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This is huge! Kraken now supports Lightning Network deposits and withdrawals. The suddenly popular second Layer protocol keeps growing and gaining importance. “Finally, traders have an instant and inexpensive way to move bitcoin on and off the platform,” Kraken said in their official announcement. The Lightning Network is much more than that, though. What will…
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The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them. 11 Crypto Exchanges Investigated for Tax Evasion The Indian government answered some questions regarding the taxation of cryptocurrency exchanges Monday in Lok Sabha, the lower house…
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Nearly $1.61 billion worth of Ethereum tokens has left crypto exchanges year-to-date, ahead of its protocol‘s potential full merge to proof-of-stake in summer. The amount of Ethereum‘s native token Ether (ETH) kept with crypto exchanges has fallen to its lowest levels since September 2018, signaling traders‘ intention to hold the tokens in hopes of a…
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Former presidential candidate Hillary Clinton has criticized the Biden administration and European governments for not pressuring cryptocurrency exchanges to end transactions with Russian users. She believes regulators “should look hard at how they can prevent the crypto markets from giving an escape hatch to Russia, both governmental and private transactions in and out of Russia.”…
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The popular cryptocurrency exchange Coinbase has addressed the request from Ukrainian officials to freeze the accounts of all Russian users. A Coinbase spokesperson noted that the digital currency platform would not “institute a blanket ban” against ordinary Russian users. Coinbase, Coinberry, and Kucoin Follow Binance’s and Kraken’s Decision to Refuse ‘Sabotaging Ordinary Russian Users’ On…
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