In a major win for crypto regulation, Spanish authorities, with help from the T3 Consortium, dismantled a crime syndicate, arresting 23 individuals and seizing $26.4 million. On the market side, analysts are eyeing the movement of Bitcoin by long-term holders, which could signal a bullish trend and drive up prices due to increased market liquidity. …
A Chinese court has ruled that BKEX’s contract trading was illegal gambling, and its employees and agents were accomplices in operating an unlawful casino. The court detailed how BKEX founder Ji Jiaming, currently on the run, set up the exchange and launched perpetual contract trading, allowing users to bet with high leverage on crypto price …
Federal Reserve Chair Jerome Powell addressed concerns raised in the Financial Stability Oversight Council’s annual report, particularly regarding the risks of cryptocurrency. Powell was asked whether speculation in this unregulated asset class could harm individuals’ financial well-being, especially in contrast to the broader concerns about the financial system. Powell said that the Federal Reserve’s primary …
Today, the US Federal Open Market Committee (FOMC) has finally announced its first monetary policy decision of 2025. In a press release, the Federal Reserve announced that it will keep interest rates steady at the 4.25% to 4.5% range. This decision is in line with expectations. All eyes are on Fed Chairman Jerome Powell’s press …
Paradigm has pledged $1.25 million to support Tornado Cash co-founder Roman Storm’s legal defense. Storm faces up to 45 years in prison on charges including money laundering and sanctions evasion, sparking concerns about developer liability. Paradigm’s Matt Huang warned that the case could set a dangerous precedent for open-source development. Meanwhile, a Texas court recently …
Hong Kong’s Securities and Futures Commission (SFC) has issued its first two crypto trading platform licenses for 2025, bringing the total to seven since mid-2024. PantherTrade and YAX are the latest to receive approval under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (AMLO). The regulator has been actively reviewing crypto firms to ensure compliance with …
Today the crypto market is under pressure as investors are waiting for the outcome of the FOMC meeting. Around this bearish call, Trump’s Bitcoin Strategy picking pace with 13 US states planning to create a Bitcoin Strategic Reserve out of them Arizona and Utah are leading the race. In the meanwhile Bitcoin is riding above …
President Trump’s newly established Department of Government Efficiency is set to tackle federal spending and streamline operations. With the U.S. DOGE Service now under its wing, the department aims to modernize government functions and drive massive cost reductions across the board. Interestingly, this new change has already benefited the US government within just a week …
The European crypto scene is changing fast, and Tether (USDT) is in trouble. Crypto.com has announced it will remove USDT from its platform by January 31, 2025. This follows decision to drop Tether last year. The future of its $138 billion USDT in the EU is uncertain, and the possibility of other regions delisting is …
In a recent development, Coinbase has been granted approval by Argentina’s National Securities Commission (CNV) to operate as a Virtual Asset Service Provider (VASP). The exchange shared in a blog post. The expansion is part of the exchange’s mission to increase economic freedom globally. In 2023, Coinbase launched its services in Brazil as a first push …
In a latest development, French investigators have opened a judicial probe into money laundering, tax fraud, drug trafficking and other charges against crypto platform Binance as reported by Reuters. The investigation into Binance by French authorities dates back to 2023, when they first accused the exchange of offering illegal crypto services and lacking an adequate …
President Trump wasted no time making his mark on the crypto world. Just a day after his inauguration, he signed an Executive Order titled Strengthening American Leadership in Digital Finance Technology, aiming to boost the growth of digital assets and blockchain technology. This move is part of a broader strategy, which includes three key executive …
Crypto exchange KuCoin has admitted guilt in a US legal case, where it was accused of operating as an unlicensed money transmitter. This case, filed by the Department of Justice (DOJ) in March 2024, also involves the platform’s co-founders, Chun Gan, and Ke Tang, who are stepping down from their roles as part of the …
In a latest development, Ripple has obtained Money Transmitter Licenses (MTLs) in New York and Texas, further expanding its presence in the U.S. These licenses enable Ripple to offer compliant cross-border payment services, enhancing its ability to provide financial institutions and crypto businesses with faster, more efficient payment solutions. This news comes as firms are …
Granting a partial victory to the Securities and Exchange Commission in its legal battle against Kraken, a US-based cryptocurrency exchange, a federal judge in California, William Orrick, dismissed some key defenses tabled by the exchange. Would the development influence the destiny of other exchanges, which have presented similar defenses in their legal battles against the …
OpenAi CEO Sam Altman’s Tool for Humanity met another tough hurdle. This time, it was Brazil, which blocked Altman’s effort to create a global identity system. Brazil’s data protection authority ANPD, expressed suspicion about the way the organisation processes data, and demanded more transparency in that area. What does the organisation have to say about …
The cryptocurrency market saw a big increase and a lot of buying activity after Donald Trump returned to the White House. With Trump signing several executive orders that support the cryptocurrency market, more people are interested in trading. The next week is important for the market because the Federal Open Market Committee (FOMC) meeting and …
The United States is preparing to introduce a significant tax relief policy aimed at boosting crypto innovation and attracting investment. Eric Trump, son of President Donald Trump, recently suggested that the Trump administration might introduce a zero capital gains tax policy specifically for cryptocurrency projects. But will this policy benefit only US-based projects, or will …
The Trump administration has taken initial steps to support the crypto industry by establishing the Working Group on Digital Asset Markets. Notably, Trump has directed the working group to explore the creation of a national digital asset stockpile, instead of setting up a Bitcoin reserve as expected. TD Cowen’s Washington Research Group, led by Jaret …
In a latest development, European Central Bank board member Piero Cipollone stated that euro zone banks need a digital euro to counter U.S. President Donald Trump’s promotion of stablecoins, which are typically pegged to the U.S. dollar. Notably, Trump said he would promote the development and growth of lawful and legitimate dollar-backed stablecoins worldwide as …
MicroStrategy has built a bitcoin stash worth around $47 billion, including $18 billion in unrealized gains, through years of stock and debt offerings. However, in an unexpected turn, the company might face federal income taxes on those paper gains, even without selling any bitcoin, according to the Inflation Reduction Act of 2022. MicroStrategy Could Face …
“Bye, bye SAB 121! It’s not been fun,” says a post published in X by SEC Commissioner Hester Pierce after the US regulator withdrew the controversial accounting guidance of 2022, which required companies to report customers’ crypto assets on their balance sheets. The cryptocurrency industry has welcomed the move wholeheartedly. Many crypto enthusiasts have expressed …
In a major move for the crypto market, the SEC has officially rescinded SAB 121, a ruling that previously prevented banks from holding crypto assets due to its accounting requirements. This move is being hailed as incredibly bullish, as it opens the door for banks to offer crypto custody, buy and sell digital assets, and …
In a recent development, pro-crypto Senator Cynthia Lummis became the chairman of the Senate Banking Subcommittee on Digital Assets, as confirmed by herself on X (Formerly Twitter). Lummis is known for being a strong advocate for cryptocurrency and blockchain technology, often referred to as a “crypto-friendly” legislator. Honored to chair the Senate Banking Subcommittee on …
JioCoin is now the talk of the town. It has triggered extreme excitement among Indian cryptocurrency enthusiasts. Not many cryptos have created striking headlines on the early stage of its launch itself. Can this crypto redefine the Indian cryptocurrency sector? Here is everything you should know about Reliance Jio’s JioCoin. What’s JioCoin? JioCoin is a …
Taiwan’s FSC plans to propose a virtual asset law by June 2025, allowing banks to issue stablecoins for the first time. Stablecoins will serve as a bridge between legal tender and cryptocurrency, offering a secure trading portal for investors. Current tokens like USDT and USDC remain unapproved, but future issuances will require FSC approval. Stricter …
Ross Ulbricht, the creator of the infamous Silk Road darknet marketplace, has received a full and unconditional pardon from US President Donald Trump, a promise made during the 2024 campaign. After spending years behind bars, the 40-year-old Bitcoin pioneer is ready to start a new chapter in his life, filled with new opportunities. Is a …
Donald Trump’s evolving relationship with cryptocurrencies is a compelling story of transformation. From being a vocal skeptic to actively promoting blockchain innovation, Trump’s shift has had a profound impact on the digital asset world. His policies, personal investments, and crypto-focused initiatives have positioned him as a major influence in the cryptocurrency world. Evolution of Trump’s …
The crypto community is relieved as Trump pardoned Silk Road creator Ross Ulbricht. Now, Ethereum co-founder Vitalik Buterin and others in the ETH community are urging the release of Ethereum developer Virgil Griffith and Tornado Cash co-founder Roman Storm. As a result, the Ethereum community is now asking for Trump’s assistance in this matter. Vitalik …
As per a latest Bloomberg report, Coinbase Inc. asked the Second Circuit to say that digital token trades on its platform aren’t transactions governed under federal securities law. “There is no more pressing issue in securities law today than the scope of the Securities and Exchange Commission’s authority to regulate secondary trades of digital assets,” …