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Dolce & Gabbana USA Inc. faces a lawsuit from a customer who claims the non-fungible tokens (NFTs) he bought for $6,000, which included metaverse outfits, lost 97% of their value due to delivery failures by the luxury fashion house. The complaint, filed in Manhattan federal court, alleges the NFTs were promoted with various digital, physical, … Read more
The Hong Kong Monetary Authority (HKMA) and the People’s Bank of China (PBOC) have advanced the digital yuan (e-CNY) pilot for payments, aiming to increase e-CNY wallet usage in Hong Kong. Residents can now set up and top up wallets via the Faster Payment System (FPS), marking the first global linkage of a faster payment … Read more
The Hashgraph Association, a Swiss non-profit organization, has partnered with the Qatar Financial Centre (QFC) to launch a $50 million digital assets venture studio. The venture studio aims to support companies in developing regulatory-compliant decentralized finance (defi) solutions. Supporting Web3 Startups With Bankable Defi Solutions The Hashgraph Association, a non-profit organization based in Switzerland, has … Read more
Juno Finance acknowledges the disruption in banking services and is collaborating with its brokerage and banking service providers, Synapse and Evolve Bank & Trust, to restore full service as soon as possible. Juno is a financial platform that integrates checking and savings accounts with cryptocurrency trading. “Currently, Evolve Bank & Trust has frozen all card … Read more
Two U.S. senators have criticized the Department of Justice (DOJ)’s new interpretation of “money transmission,” which extends requirements to non-custodial software, citing concerns over its impact on crypto networks and financial innovation. “I’m concerned the DOJ’s interpretation would treat software developers as criminals for merely writing and publishing code used by others,” one of the … Read more
The U.S. Department of Justice (DOJ) has indicted two brothers for wire fraud and money laundering. They allegedly exploited the Ethereum blockchain to steal $25 million in cryptocurrency within 12 seconds. Using sophisticated techniques, they manipulated transactions and concealed their identities. If convicted, each faces up to 20 years in prison for each count. DOJ … Read more
The U.S. Senate has voted to overturn the Securities and Exchange Commission (SEC)’s controversial SAB 121, which imposes regulatory burdens on digital asset custodians. The resolution also passed in the House and now faces a veto threat from President Joe Biden. Last week, the White House issued a statement: “If the President were presented with … Read more
U.S. Congressman Gabe Amo (D-RI), along with Congressmen Brad Sherman (D-CA) and Gerald E. Connolly (D-VA), sent a letter to U.S. Treasury Secretary Janet Yellen regarding the Moscow-based cryptocurrency exchange Garantex. They expressed concerns that Garantex is reportedly facilitating sanctions evasion and funding Russia’s invasion of Ukraine. The letter cited reports indicating that $20 billion … Read more
MSCI Inc. has announced the May 2024 Index Review, which includes adding the bitcoin-focused Microstrategy to the MSCI World Index. This decision follows the Nasdaq-listed software intelligence firm’s stock outperforming bitcoin and other major investments. Microstrategy currently holds over 214K bitcoins. MSCI World Index Adds Microstrategy MSCI Inc. (NYSE: MSCI), a premier operator of global … Read more
The governor of the U.S. state of Oklahoma has approved House Bill 3594, a landmark bill that protects bitcoin rights and fosters cryptocurrency innovation. The legislation addresses the regulation and promotion of blockchain technology and cryptocurrency in the state. The bill defines key terms such as blockchain, blockchain protocol, and digital assets, which include virtual … Read more
