“You can’t solicit funds for a business opportunity, abandon that business and abscond with money investors provided you,” stressed IRS-CI special agent-in-charge Thomas Fattorusso. The Department of Justice (DOJ) has taken action against an alleged nonfungible token (NFT) rug pull after it slapped the founders of the “Frosties” project with charges relating to fraud and…
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El Salvador’s President Nayib Bukele is playing host to a dazzling array of international bitcoiners – while also taking the time to “flex” on American Senators on Twitter. In the past few hours, Bukele has posted pictures of himself with Ricardo Salinas Pliego, one of the richest men in Mexico. Since 2020, Salinas Pliego…
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The minting of non-fungible tokens (NFTs) is becoming increasingly competitive, with more new projects created and the cost to mint new NFTs being cut. However, a number of NFTs minted still end up as part of a “dead collection” with no trading activity — though, notably, the proportion of such NFTs is decreasing, a…
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ADA price is now in a notorious selloff area that coincided with the price crashing by 40% in January 2022. Cardano (ADA) inched higher on March 25, putting itself on course recoup a great portion of losses that it had incurred in the first two months of this year. Cardano: not so bullish yet? ADA’s…
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The Kenyan central bank governor has once again told Kenyans to be wary of the risks that are associated with cryptocurrency transactions and trading. The governor also warned financial institutions supporting cryptocurrency transactions that they risk losing their licenses. Crypto Trading Beneficial to a Few The governor of the Central Bank of Kenya (CBK), Patrick…
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South Korean tech giant LG Electronics has officially updated its business development goals to include cryptocurrency and blockchain-based software. South Korean tech giant LG Electronics has officially added blockchain and cryptocurrency as new business areas in its corporate charter. According to a local South Korean news report, LG added two distinct crypto-related objectives during its…
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The heavily-sanctioned country is scrambling to find ways to increase its revenue and has floated the possibility of allowing China and Turkey to pay for energy in Bitcoin. The Russian Federation‘s energy chief Pavel Zavalny has floated the possibility of accepting Bitcoin as payment for its oil and gas from “friendly countries” such as China…
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Complying with the rules puts South Korea ahead of the curve for regulating virtual assets but could be harming the domestic industry with overbearing transfer restrictions between exchanges. South Korean crypto exchanges have reached the government-mandated deadline to come into compliance with the so-called Travel Rule, but not all industry players are pleased with the…
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On March 23, Honduras’ central bank issued a clarification on crypto assets such as bitcoin, and noted that digital currencies are not legal tender or regulated in the country. The announcement, posted via Honduras’ central bank official Twitter account, comes after lots of speculation about the Honduran president, Xiomara Castro, allegedly going to declare bitcoin…
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The Senate bill to mitigate the risks from El Salvador adopting bitcoin as legal tender has advanced in the U.S. “As El Salvador has adopted bitcoin as legal tender, it’s critical we mitigate risks to our financial system,” said one of the U.S. lawmakers who introduced the bill. Bill to Mitigate Risks From Bitcoin Being…
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