The US Treasury has revealed that North Korean hackers and scammers exploit loopholes in the decentralized finance (DeFi) space to launder money and hide criminal activity. In a Thursday report, the federal agency claimed that North Korean hackers and other groups engaged in illicit activity have benefited from the non-compliance of some DeFi platforms with certain…
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The U.S. central bank’s liabilities may increase if more regional banks fail, creating an upside scenario for the price of Bitcoin. As of March 22, the Fed’s balance sheet surged by nearly $94.5 billion — a $297 billion increase from the last week when the banking crisis started. New QE hopes boost Bitcoin price Overall, the U.S.…
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According to the U.S. Federal Reserve, the central bank’s Fednow payment service will start operating in July, and participants will be certified in April to leverage the Fednow Pilot Program. Ken Montgomery, the Fednow program executive, is urging American financial institutions to make preparations to join the central bank’s new payment service. Economist Richard Werner,…
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The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under the “systemic risk exception” approved by the U.S. Federal Reserve and…
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Tornado Cash developer Alexsey Pertsev will remain in jail for another three months after facing money laundering charges for the development of the mixing service. Pertsev, who has been held in detention for the past 100 days, was arrested by Dutch authorities over alleged involvement in the Tornado Cash crypto mixing service days after the…
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The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has placed sanctions on 10 individuals and two entities affiliated with an arm of the Iranian armed forces called the Islamic Revolutionary Guard Corps (IRGC). Per a press release, all properties fully or partially owned by the individuals and entities have been blacklisted in the U.S.…
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The U.S. Treasury Department has released further clarifications on the sanctions placed on the popular cryptocurrency mixer Tornado Cash. The department stated that the sanction does not affect the rights of individuals in the U.S. to view and disseminate the open-source Tornado Cash code. … Read More: US Treasury – You Are Not Breaking Sanctions by…
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Russia’s Bitriver, one of the largest operators of crypto mining data centers, may take legal action against the U.S. over the decision to place it under sanctions. The company insists it does not help the Russian government to circumvent international restrictions. Bitriver Rejects US Accusations as Unfounded, Sees No Legal Ground for Sanctions Leading Russian…
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