The bill amendment demands the Secretary of State submit reports to congressional committees explaining why the DOS made the determination to pay out rewards in cryptocurrency. A new bill demanding a congressional notification prior to payments of the United States Department of State (DOS) rewards using cryptocurrencies surfaced as the U.S. Congress raised concerns about…
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Adopting more stringent Know Your Customer (KYC) checks can give crypto exchanges a competitive edge over those that meet minimal standards. Crypto is a fast-moving sector where new trends — decentralized finance and nonfungible tokens among them — accelerate in the blink of an eye. And as demand for digital assets grows, the need for…
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The trading company will pay back the debt, which has fallen almost twice in dollar estimate, by the end of September. Quantitative trading company Alameda Research will return an estimate of $200 million to Voyager Digital, which is proceeding through bankruptcy. Alameda borrowed the funds in cryptocurrencies in September 2021. At that time, the sum was…
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A set of technical indicators see Bitcoin price ending its prevailing bearish cycle. Bitcoin (BTC) recovered above the $19,000 mark on Sep. 20, a day after falling to its lowest level in three months. Bitcoin struggles after dropping below $20K On the daily chart, the BTC price rose from $18,255 to $19,650. This 7.5% price…
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The CEO of Wintermute has stated that they are “open” to treating the hack as a white hat hack and would speak to the attacker. Wintermute, a cryptocurrency market maker based in the United Kingdom, became the latest victim of decentralized finance (DeFi) hacks for approximately $160 million, according to Evgeny Gaevoy, the company’s founder and…
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Bitcoin price traded to a new monthly low near $18,250 before it started an upside correction. BTC is currently (03:10 UTC) trading above $19,200. The price must settle above $19,500 and $19,620 to continue higher. Similarly, most major altcoins started a decent upside correction. ETH recovered above the $1,350 resistance zone. XRP outperformed with a…
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The U.S. Securities and Exchange Commission (SEC) has ordered crypto firm Sparkster and its CEO to pay $35 million into a fund for distribution to harmed investors. The securities regulator also charged crypto influencer Ian Balina for promoting crypto tokens without disclosing compensation received. SEC’s Cease-and-Desist Order Against Unregistered Crypto Firm The U.S. Securities and…
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The U.S. has sentenced a Los Angeles man to 38 months in federal prison for his role in the $3.4 billion Bitconnect crypto Ponzi scheme. He admitted to earning no less than $24 million from the scam, all of which will now be “repaid to investors in restitution or forfeited to the government,” the Department…
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The Better Business Bureau (BBB) has warned about cryptocurrency scams on Tiktok. “You are scrolling through Tiktok when you come across a video showing a pile of cash. The creator says they earned the stack of money in just a few days by investing in cryptocurrency,” the BBB detailed. Crypto Scammers Defrauding Tiktok Users The…
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The public has until Nov. 3 to submit comments on the Treasury addressing ransomware attacks, the illicit finance risks of cryptocurrency mixers and DeFi, and coordinating AML/CFT policy. The United States Department of the Treasury will be calling for comments from the public on digital assets, including their views on how regulations may address the…
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