The SEC originally wanted LBRY to pay millions of dollars in penalties, but now concedes the defunct firm can’t pay up that amount. The United States securities regulator is seeking to revise its $22 million punishment against decentralized content platform LBRY, acknowledging it is unlikely to be able to cough up the funds to be…
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The U.S. Internal Revenue Service (IRS) said it’s working closely with Ukraine to help it trace crypto transactions of Russian sanctions evaders. The agency is providing the Ukrainians access to a Chainalysis tool as well as specialized training to Ukrainian law enforcement. IRS Offers Ukraine Tools From Chainalysis to Trace Russian Blockchain Transactions The criminal…
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Industry representatives have cast doubt on the legality and impact of the United States securities regulator’s proposal to expand custody rules. A proposal by the United States securities regulator to tighten rules around crypto custody has been met with opposition from at least two proponents of the industry, according to recently filed letters. On May…
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Cryptocurrency exchange Binance is facing a U.S. probe over suspected violations of sanctions against Russia, according to a media report. The inquiry is looking into whether the trading platform was used by Russians to circumvent financial restrictions imposed over Moscow’s invasion of Ukraine. Crypto Exchange Binance Faces Another US Probe, Sources Say The U.S. Department…
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Supported by U.S. law enforcement, police in Ukraine have disrupted a network of crypto exchange services suspected of laundering criminal proceeds. The platforms were allegedly processing dirty money obtained from ransomware attacks and various fraud schemes. Cyberpolice, US Investigators Bust Crypto Exchanges in Ukraine Officers from Ukraine’s Cyberpolice unit and Main Investigative Department, working with…
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The SEC and its staff are “continuing to consider” the term “digital assets” despite proposing a definition of the term around nine months ago. The United States securities regulator is holding off from ratifying the definition of the term “digital assets” in rules that govern reporting disclosures for hedge and private equity funds, despite proposing…
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A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency. Shanghai Cooperation Organization to Abandon Dollar in Favor of National Currencies The…
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A brisk slowdown in GDP fails to offer any direction for crypto markets, with Bitcoin slowly clawing back lost ground below $30,000. Bitcoin (BTC) stuck to $29,000 at the April 27 Wall Street open as United States gross domestic product (GDP) growth missed expectations. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. GDP figures reveal…
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A Russian crypto entrepreneur, charged with laundering money from ransomware attacks, has been sentenced to probation and fined in the U.S. after pleading guilty. Founder of two coin trading platforms, Denis Dubnikov, was arrested in the Netherlands and extradited to the U.S. last year.
Oregon Court Sentences Russian for Processing Ryuk Payments
A Russian…
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Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that Western sanctions on Russia have highlighted new risks of keeping dollar assets. ‘Dollar Is Debt,’…
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