Category Archive: Cryptocurrency, No picture
Binance’s Request to Modify SEC’s Language Denied by Judge
Binance’s attempt to change the way the U.S. Securities and Exchange Commission’s (SEC) portrays Binance.US of handling of customer funds in a June 17 press releases was denied by a federal judge, a move the company feared could negatively influence its court proceedings. BAM Trading, operating as Binance.US, had expressed concerns over what they deemed as […]
FTX Owes its Customers A lot of Money: Internal Audit
Key Takeaways FTX released an internal audit that showed that FTX would strategically lie to auditors about its commingled funds. Over $7 billion in liquid assets have been recovered, with more in anticipation of being revealed. FTX, the infamous exchange that collapsed in November, is reportedly in debt to its customers for $8.7 billion, resulting […]
Terra Classic Renaissance? How Six Engineers Want to Revive LUNC
Key Takeaways A team called the Six Samurai look to revive what is left of the Terra Classic blockchain, one year after the collapse of Terra. If approved by the community, the team will work part-time in Q3 to improve various issues with Terra to eventually revive LUNC and the community. A revival blueprint for […]
Singapore’s Central Bank Pushes for Interoperable Tokenized Assets
The Monetary Authority of Singapore (MAS) has proposed an initiative to create an open and interoperable framework for tokenized digital assets in collaboration with the Bank for International Settlements (BIS), HSBC and other financial institutions. Built on the foundation of advancements in distributed ledger and smart contract technologies, the initiative, called Project Guardian, hopes to […]
Binance Prohibited from Operating in Belgium, Effective Immediately
Key Takeaways Belgium’s financial authority accused Binance of operating outside of European Economic Area countries, which is illegal in Belgium. Binance will have to halt services immediately while it works on complying with Belgium laws, as well as be in accordance with the upcoming MiCA regulations. Belgium’s Financial Services and Markets Authority (FSMA) has ordered […]
Crypto.com Secures Regulatory Approval in Spain
Crypto.com, a cryptocurrency exchange servicing over 50 million customers, announced on Friday that it has successfully secured its virtual asset service provider (VASP) registration from the Bank of Spain. This registration, achieved after a rigorous evaluation of its compliance with the Anti-Money Laundering Directive (AMLD) and other finance-related laws, also involved a review of its […]
Binance Faces Pyramid Scheme Allegations in Brazil
Brazilian Deputy Alfredo Gaspar has called for Guilherme Haddad, the head of Binance Brazil, to testify before parliament in a probe into suspected pyramid schemes in the nation. The Parliamentary Commission of Inquiry (CPI) is set to decide on Gaspar’s June 21 request on June 27. Haddad may be obliged to answer questions before the […]
Monetary Authority of Singapore Unveils Programmable Digital Money Plans
The Monetary Authority of Singapore, the Bank of Italy, the Bank of Korea and the International Monetary Fund has released a white paper exploring the concept of Purpose-Bound Money (PBM) and its potential applications. According to the white paper, PBM is a form of digital currency that can be programmed for specific uses at any given […]
IMF Unveils Plans for Global CBDC Platform
In a speech delivered during a high-level policy roundtable today, the International Monetary Fund (IMF) and Bank Al-Maghrib called for a strategic shift toward a global central bank digital currency (CBDC) to enhance global payments infrastructure among users for digital assets. Tobias Adrian, financial counselor and director of the Monetary and Capital Markets Department of […]
Do Kwon Guilty of Passport Forgery; Sentenced to 4 Months in Montenegrin Prison
Key Takeaways Do Kwon and Han-Chang joon were sentenced to four months in prison in Montenegro for document forgery. Montenegro police confiscated two Costa Rican passports, two Belgian passports and two identification cards. A High Court of Podgorica told CoinDesk that the two will be held for an additional six months for “extradition custody.” Do […]
