Cryptocurrency Tracking System To Be Launched in South Korea

The crypto tracking system will keep a record of transaction history, gather information on transactions, and verify the origin of funds both before and after transfers. The South Korean Ministry of Justice plans to launch a "Virtual Currency Tracking System" to...

Thailand Announced Crypto Custody Rules for Digital Assets Providers

After the 2022 crypto collapses, the Thai securities regulator now requires crypto custodians and exchanges to have a contingency plan. The DeFi sector is increasing its TVL, and this expansion needs to assure clients of the safety of their funds.   ...

Account Abstraction: Ethereum Upgrade Makes Crypto Safer To Use

The adoption of the concept of "account abstraction" by Visa has the potential to greatly improve the user experience of Ethereum wallets. One of the drawbacks of cryptocurrency is the high cost of mistakes.  For example, if a user loses their account keys, they...

Will Binance Become Compliant? Exchange Is Not Transparent

Policymakers have scrutinized Binance, the largest crypto exchange, amid multilateral sanctions against Russia and U.S. sanctions against Iran. At the same time, the exchange fails to make its balance sheet fully transparent to auditors. Binance joins the Association...

Turkey and Other Countries Aim To Test CBDCs

The Turkish central bank is interested in adopting the CBDC technology. It has recently completed its first payments using digital currency. It will continue to test this technology in 2023. The first trial of the digital currency of the Central Bank of the Republic...

DeFi Hack Leaves Users With a $12 Million Loss

After Defrost Finance users complained about the loss of funds, the DEX confirmed that Defrost V2 was the victim of a flash loan attack. On December 24, 2022, DeFi platform Defrost Finance, built on the Avalanche blockchain, suffered a hack, with an attacker using a...

SBF Could Face a 115-Year Jail Sentence if Extradited to the US

Sam Bankman-Fried (SBF) could be extradited to the US for a court trial. He might get up to 115 years in jail.  Who is Sam Bankman-Fried? Sam Bankman-Fried is the former CEO and founder of Alameda Research, a quantitative trading firm that is active in the...

New Crypto Legislations in Hong Kong for Crypto Exchanges

In Hong Kong, virtual asset service providers will have a new licensing system, which will require them to adhere to strict anti-money laundering (AML) guidelines. Hong Kong's legislative body has approved a new amendment to the anti-money laundering and terrorist...

Russia to Launch Own Crypto Exchange. Russian Banks Use MetaMask

The biggest Russian bank has announced that it will create its own blockchain and it will incorporate it with Ethereum to expand into DeFi and Web3 markets. The Russian government plans to create its own crypto exchange. Sber (formerly known as Sberbank) officially...

“Bitcoin, Ether, and Decentralized Coins Are Not Securities,” Says Belgium

Belgia's financial regulator has confirmed that Bitcoin, Ether, and other cryptocurrencies issued only by computer code are not securities. However, this contradicts the views of Gary Gensler, Chairman of the U.S. Securities Exchange Commission, who has a different...
A $57 Million Lawsuit Against Terra Co-founder Do Kwon

A $57 Million Lawsuit Against Terra Co-founder Do Kwon

Terra co-founder Do Kwon and others are accused of making fraudulent claims regarding UST, either knowing they were false and unverifiable or recklessly not caring if they were true or false. Do Kwon is the co-founder of Terraform Labs. In May 2022, the Terra...

read more
New EU Rules for Crypto Exchanges and Russian Users

New EU Rules for Crypto Exchanges and Russian Users

Many popular crypto exchanges have stopped operating in Russia. However, some platforms continue to serve the region. Nine months after the conflict between Russia and Ukraine, sanctions against Russia have grown at an aggressive rate. The European Union legislators...

read more
BNB Chain Hacked, $100 M drained 

BNB Chain Hacked, $100 M drained 

On October 6, a glitch was discovered on the BNB Chain that allowed someone to create $570 million worth of BNB tokens. The BNB Chain was halted for a few hours while a software patch was created. The good news is that the hacker retrieved a smaller amount.  BNB Chain...

read more
The Caribbean Is Planning To Go CBDC

The Caribbean Is Planning To Go CBDC

Bankers in the Caribbean are facing difficult times. Like many other small economies, these 35 countries face dollarization, dependence on foreign trade, and remittances. De-risking, a common banking practice, is also causing serious problems. It is no surprise that...

read more

Stay Up to Date With The Latest News & Updates

Join Our Newsletter

 

Follow Us