A US court has denied Sam Bankman-Fried’s request for release on bail before his trial, which is scheduled to begin next month. On Thursday, an appeals court upheld the decision to keep the disgraced founder of FTX locked up ahead of his trial. “We reject [Bankman-Fried’s] contention that the district court failed to consider a less restrictive alternative…
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India’s crypto industry may have to wait for up to two years for a more lenient crypto tax regime, as per domestic exchange WazirX’s CEO. Last year, Indian authorities introduced a 1% Tax Deducted at Source (TDS) on cryptocurrency transactions, which led to a significant decline in trading volumes. This move prompted market makers and…
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Fenwick & West, a renowned Silicon Valley law firm, has denied allegations that it played a role in facilitating a fraud allegedly committed by bankrupt crypto exchange FTX. The law firm has filed a motion to dismiss the lawsuit, claiming that its services provided to FTX were standard legal services and that it had no…
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Chinese banks and businesses want to step up their use of digital yuan-powered smart contracts, as the financial and industrial sectors eye CBDC progress. Per the Securities Times (via Stockstar), the state-run Postal Savings Bank of China has “officially” co-launched the nation’s first “prepayment product” to make use of digital yuan smart contracts. Unlike many…
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The UK’s financial watchdog was forced to welcome cryptocurrency firms into the British market, according to Charles Randell, the former chairman of the Financial Conduct Authority (FCA). During a conference hosted by the Bank of England’s Prudential Regulation Authority, Randell said the FCA came under “political pressure” to approve crypto companies, highlighting the influence that elected officials had on…
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Blue chip cryptocurrency markets are under pressure on Thursday, with Bitcoin (BTC) having dropped more than 2% to the mid-$26,000s and Ether (ETH) down 2.5% under $1,600. Reports that long-defunct cryptocurrency exchange MtGox will delay repayments for another year to 2024 have failed to boost sentiment, likely given that macro has been acting as a…
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Coinbase’s Chief Legal Officer is remarkably optimistic despite two ongoing battles with the Securities and Exchange Commission (SEC). Paul Grewal has expressed optimism about both cases, claiming that they could have a lasting impact on the entire industry…. Read More: Coinbase’s Chief Legal Officer Stays Optimistic Amid SEC Battles – Here’s Why Read more »Sign up for e-EUR…
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A crypto whale has reportedly fallen victim to a staggering $4.46 million phishing scam. The unidentified crypto holder transferred approximately $4.46 million worth of Tether (USDT) from a Kraken crypto exchange wallet to an address ending in “ACa7,” as per data from Etherscan. Blockchain security firm PeckShield has identified the destination address as belonging to…
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New Chinese “Super SIM” cards will function as digital yuan wallets, smartcards, and ID cards as the nation’s CBDC pilot continues. Chinese mobile operators such as China Mobile have been working on so-called “Super SIM” offerings since 2016. They have added a range of functionality to the cards in the years since. But the newest…
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Most citizens in Western Russia say they do not want to get paid in digital rubles, dealing a further blow to the Central Bank’s CBDC plans. Per the media outlet Lipetsk News, the recruitment agency HH conducted a digital ruble-themed survey of job seekers in the key Lipetsk Oblast in Western Russia. But it appears…
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