Italy Proposes Stringent Measures to Tackle Crypto Market Manipulation

Byte-sized news on the latest topics relating to crypto and technology.Italy is taking steps to enhance surveillance of crypto assets and address associated risks. According to a draft decree reviewed by a news agency, the plan includes imposing high fines on those who manipulate the market. The fines range from $5,400-$5.4 million (€5,000 to €5 million) for offenses such as insider trading, unlawful disclosure of […]

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US Lawmaker Proposes Stricter Digital Asset Regulations to Enforce Russian Sanctions

US Lawmaker Proposes Stricter Digital Asset Regulations to Combat Russian Sanctions EvasionU.S. Congressman Brad Sherman has proposed an amendment designed to enhance the enforcement of sanctions on Russian digital assets. The amendment allows the Treasury Secretary to prohibit crypto transactions linked to Russian entities and requires U.S. taxpayers to report crypto transactions offshore exceeding $10,000 to the Financial Crimes Enforcement Network (FinCEN). New Amendment Seeks to […]

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Euro’s Reserve Currency Status Threatened as Its Share of Foreign Reserves Holdings Drops

Euro’s Reserve Currency Status Threatened as Its Share of Foreign Reserves Holdings DropsA report from the European Central Bank indicated that the euro’s share of foreign exchange reserves declined by one percentage point to 20% in 2023. According to the report, the continued diversification of global reserve portfolios into nontraditional currencies threatens to further erode the euro’s share of foreign exchange reserves. Euro’s Decline Coincides with US […]

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Experts Say Dollar Dominance Debate Misses the Point, US Needs Economic Focus

Experts Say Dollar Dominance Debate Misses the Point, US Needs Economic FocusTwo experts have explained that the global debate on the future of dollar dominance misses the point because it doesn’t focus on how the dollar’s future will evolve. They warned: “If the U.S. doesn’t keep its house in better order, dollar dominance will be the least of our worries.” Experts Discuss US Dollar’s Dominance Steven […]

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Sky Mavis Reports Return of $5.7 Million in Digital Assets Stolen During Ronin Attack

Sky Mavis Reports Return of $5.7 Million in Digital Assets Stolen During Ronin AttackSky Mavis announced that Norwegian authorities have recovered and returned $5.7 million in digital assets stolen during the Ronin bridge incident. The Web3 game developer stated that an additional $40 million in digital assets is currently frozen. However, the company cannot predict when it will be able to recover and return these funds. FBI Involved […]

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Bitcoin Dips Below $70K, Reaches $68,450 Low, $86M in BTC Longs Liquidated

Bitcoin Dips Below $70K, Reaches $68,450 Low, $86M in BTC Longs LiquidatedThe price of bitcoin fell on Friday afternoon after spending several days above the $70,000 mark. The value dropped to $68,450 on Bitstamp, currently down $1,700 from its intraday high. Bitcoin’s Sudden Drop Impacts Entire Crypto Economy Wipes Out $454M in Longs Bitcoin (BTC) plummeted to a low of $68,450 per unit after reaching the […]

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SEC Commissioner Advocates for Withdrawal of SAB 121 — Says Biden’s Veto Was Unfortunate

SEC Commissioner Advocates for Withdrawal of SAB 121 — Says Biden's Veto Was 'Unfortunate'U.S. Securities and Exchange Commission (SEC) Commissioner Mark Uyeda advocates for the withdrawal of Staff Accounting Bulletin 121 (SAB 121), which sets guidelines for accounting crypto liabilities. He argues that the method of its issuance undermines the foundational checks and balances designed to prevent excessive administrative control. Despite bipartisan support for a resolution to repeal […]

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