Tag: Regulation

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Today in Crypto: Kenyan Police Reportedly Raided Worldcoin Warehouse, US FBI Issues Warnings About NFT Scammers, Curve Finance Offers a $1.85 Million Bounty to Identify & Convict the Hacker

August 7, 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: Kenyan Police Reportedly Raided Worldcoin Warehouse, US FBI Issues Warnings About NFT Scammers, Curve Finance Offers a $1.85 Million Bounty to Identify & Convict the Hacker  Read more…
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Coinbase Reports Significant Drop in Consumer Trading Volume Raising Concerns for Crypto Industry

August 6, 2023

Coinbase has reported a significant drop in consumer trading volume, which has raised concerns for the crypto industry.  On Thursday, the largest US-based cryptocurrency exchange released its second quarter earnings report, revealing that transaction volume for consumers and institutions has declined by 70% and 54%, respectively, compared to the same period last year…. Read More: Coinbase Reports Significant…
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‘The SEC has violated due process’ — Coinbase CLO on motion to dismiss lawsuit

August 5, 2023

Lawyers for Coinbase cited precedent from the SEC v. Ripple case, in which a judge ruled that XRP largely did not qualify as a security by the commission’s standards. United States-based cryptocurrency exchange Coinbase has filed a motion to dismiss a lawsuit brought by the Securities and Exchange Commission in June. In an Aug. 4…
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US lawmakers urge White House to address North Korea’s use of digital assets: Report

August 5, 2023

Sen. Elizabeth Warren was part of a group of lawmakers who pushed for provisions against crypto mixers and privacy coins in the National Defense Authorization Act in July. Three members of the United States Senate have reportedly sent a letter to the White House and Treasury Department in an effort to crack down on North…
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Worldcoin Confirms Kenya ID Verification Pause

August 5, 2023

The CEO of Worldcoin’s founding entity confirmed on Aug. 2 that his organization has paused “World ID verifications in Kenya” and will attempt to address concerns raised by authorities. Kenya’s ICT Minister Eliud Owalo has said Worldcoin’s verification services were being carried out within the confines of the law. Worldcoin Activities Not in Breach of…
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Oman financial regulator seeks feedback on proposed virtual asset framework

August 4, 2023

Although the proposed virtual asset regulatory framework in Oman covers FATF-defined assets, the issuance of privacy coins might get banned. The Sultanate of Oman is inching closer to launching its own virtual asset regulations, with its financial markets regulator seeking public comments on its proposed regulatory framework governing digital assets, such as cryptocurrencies. The Capital…
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Stablecoin Bill’s Failure Reflects Deepening Political Divide in Crypto

August 3, 2023

The passing of a much-discussed stablecoin bill last week in the House Financial Services Committee revealed just how deep the political divide in Washington has become, a recent Fortune Crypto newsletter said. The bill, which was close to getting bipartisan support after negotiations between Republicans and Democrats earlier this year, was eventually passed in the…
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GameStop Decides to Shut Down NFT Wallet Citing Regulatory Uncertainty

August 3, 2023

Popular video game retailer GameStop has announced plans to shut down its NFT wallet due to regulatory uncertainty in the crypto space.  According to a pop-up message on its NFT marketplace, GameStop would cease support for the wallet starting November 1.  “Due to the regulatory uncertainty of the crypto space, GameStop has decided to remove its iOS…
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US DoJ is concerned about a run on Binance should prosecutors bring fraud charges: Report

August 2, 2023

Officials reportedly speculated an indictment against Binance in the U.S. could cause a run on the exchange similar to what happened with crypto exchange FTX in November 2022. The United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud, but hesitating based on costs to consumers. According to an Aug. 2…
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Ukrainian government reports $81M tax loss from unregulated crypto exchanges since 2013

August 2, 2023

A crypto bill signed into law in 2022 paved the way for the Ukrainian government to amend its tax code, but local exchanges still largely operate outside this framework. According to data provided by the Ukrainian government, cryptocurrency exchanges offering services in the country have failed to contribute more than $81 million to the national…
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