Tag: Regulation

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International Operation Takes Down Crypto Mixer Chipmixer — Creator Could Face 40 Years in Prison

March 17, 2023

An international operation has taken down Chipmixer, a cryptocurrency mixing service that allegedly laundered more than $3 billion worth of cryptocurrency, according to the U.S. Department of Justice (DOJ). The operation involved national authorities in the U.S., Germany, Belgium, Poland, and Switzerland — with Europol’s support. International Operation Takes Down Chipmixer The U.S. Department of…
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US Senator: Signature Bank Collapsed Because It Embraced Crypto Customers Without Sufficient Safeguards

March 17, 2023

U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took “excessive risk,” the senator demanded answers from the CEO of Signature Bank regarding “the economically disastrous outcomes you created.” Senator Elizabeth Warren’s Letter to Signature Bank’s CEO…
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US lawmaker suggests Signature’s collapse was tied to instability of crypto

March 17, 2023

Senator Michael Bennet said crypto was not “even as stable as the marijuana industry,” questioning Signature Bank’s ability to service digital asset firms but not dispensaries. Michael Bennet, a United States senator representing the state of Colorado, has suggested that banks associated with crypto firms did not make “prudentially sound” decisions. Speaking at a March…
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UK to Ramp Up Crypto Oversight: Tax Forms to Include Separate Reporting for Crypto Assets – More Regulation Incoming?

March 16, 2023

The UK will ramp up oversight of the crypto sector with tax forms sent out to individuals now set to include a separate reporting option for crypto assets. The change to the tax form will take effect from the tax year that ends in April 2025, and applies to forms for capital gains tax.  These…
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Blockchain Association seeks info from Fed, FDIC and OCC on ‘de-banking’ crypto firms

March 16, 2023

The association submitted Freedom of Information Act requests as part of an investigation into how regulators’ actions “improperly contributed” to the collapse of three banks. The United States-based crypto advocacy group Blockchain Association called on financial regulators to provide information related to the potential “de-banking of crypto firms” in the wake of the failures of…
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Today in Crypto: 45% Jump in Payment Fraud Attacks on Crypto Exchanges, Court Rejects Reason to Halt Binance.US’ Acquisition of Voyager, India & UAE Partner on CBDC Plans, Xapo Bank Integrates with the Faster Payment System

March 16, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: 45% Jump in Payment Fraud Attacks on Crypto Exchanges, Court Rejects Reason to Halt Binance.US’ Acquisition of Voyager, India & UAE Partner on CBDC Plans, Xapo Bank Integrates…
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Digital Assets Worth 2 Billion Rubles Issued in Russia in Less Than a Year

March 16, 2023

Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the following year. Volume of Digital Assets Increases in Russia as Investors Seek Alternatives to…
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India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions

March 16, 2023

India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India…
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Court Dismisses Former Monero Developer’s Bid to Have His Extradition to South Africa Declared Illegal

March 16, 2023

The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for the voiding of the extradition process. Spagni…
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Crypto Firm Anchorage Digital to Lay Off 20% of Staff Citing US Regulatory Uncertainty – Here’s What You Need to Know

March 16, 2023

Anchorage Digital, a crypto bank based in San Francisco, is making substantial staff cuts in response to the current downturn in the crypto market and regulatory uncertainty in the United States.  According to Bloomberg, the company is laying off 75 employees, or roughly 20% of its workforce. … Read More: Crypto Firm Anchorage Digital to Lay…
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