Bookmarking Crypto Insights
Auto Added by WPeMatico
Despite the warnings on DeFi, Treasury noted that “most money laundering, terrorist financing, and proliferation financing” occurred using fiat or outside the crypto ecosystem. Go to Source Powered by WPeMatico
The Indian government has responded to parliamentary questions about the legalization of cryptocurrency and the steps it has taken to prevent crypto-related fraud. “Crypto assets are currently unregulated in India. Frauds relating to crypto are dealt with under extant laws against fraud and cybercrime,” the Minister of State for the Ministry of Finance told parliament. … Read more
Sri Lanka’s central bank has issued a warning about “the significant risks associated with using and investing in cryptocurrency.” The central bank reminded the public that “cryptocurrencies are unregulated investment instruments which are not recognized as an asset class in Sri Lanka.” Sri Lanka’s Crypto Warning The Central Bank of Sri Lanka (CBSL) issued a … Read more
The superintendent of the New York Department of Financial Services reportedly dismissed claims the U.S. government was working to implement ‘Operation Choke Point 2.0’. Go to Source Powered by WPeMatico
“We need to put more thought into imagining what international coordination will look like and how it can be effective in regulating the crypto world,” said Elizabeth McCaul. Go to Source Powered by WPeMatico
Despite being touted as a game-changing innovation, the decentralized finance (defi) ecosystem is still not connected to fiat rails largely because of regulatory and compliance issues, Torsten Stuber, the CTO at Pendulum says. According to Stuber, the defi ecosystem will succeed in getting more traditional financial institutions on board once “a substantial amount of liquidity … Read more
The U.S. Department of Justice (DOJ) says it has seized cryptocurrency worth over $112 million linked to fraudulent investment schemes known as “pig butchering.” According to court documents, the seized crypto accounts were allegedly “used to launder proceeds of various cryptocurrency confidence scams,” the Justice Department said. $112 Million in Crypto Seized by DOJ The … Read more
Under the proposed legislation, certain crypto mining firms participating in a program to reduce the load on Texas’ energy grid would not receive an abatement on state taxes. Go to Source Powered by WPeMatico
Both Ishan and Nikhil Wahi pleaded guilty to criminal insider trading charges after being arrested by U.S. authorities in July 2022. Go to Source Powered by WPeMatico
A senior People’s Bank of China (PBOC) official has urged regulators to consider cryptocurrency risks and fraud that could lead to bank failures when innovating regulation. The Chinese official highlighted the recent collapse of U.S. banks that provided services to crypto customers as an example. “The regulation philosophy, technology, and capability must be upgraded to … Read more