Cryptocurrency lending firm Nexo Financial denies the allegations of offering unregistered services to New Yorkers put forth by Attorney General Letitia James. Attorney General James directed two unnamed crypto lending companies to cease operations On Oct. 18, citing failure to register the business in New York and performing unlawful activities. Crypto lender Nexo is revealed
Regulation
Ghana is working to develop offline capabilities for its forthcoming central bank digital currency (CBDC) in a bid to promote its use across all segments of Ghanan society. According to a Oct. 18 report from Bloomberg, Kwame Oppong, head of fintech and innovation at the Bank of Ghana (BoG), revealed that the country’s digital currency
The New York Attorney General’s office has alleged two unnamed crypto lending platforms operating in the state have engaged in unlawful activities and ordered three others to provide information on their businesses. In a Monday announcement, the New York Attorney General’s office said it has ordered two crypto lending platforms — at the time of
Mohan Bhagwat, the head of the Rashtriya Swayamsevak Sangh, or RSS — a right-wing Hindu nationalist society — has urged India’s government to pursue crypto regulations “in the larger interest of society.” According to Asian News International, the RSS chief made these remarks during his speech marking the celebration of the Hindu festive Dussehra. Despite
The rapid growth of mainstream attention toward cryptocurrencies has forced the hands of numerous governments to create their digital alternatives. Over the past few years, interest from various jurisdictions has been pointed towards central bank digital currencies (CBDCs) — digital versions of government-issued fiat. Given their capacity to use blockchain technology to facilitate a simplified
On Oct. 6, the United States Department of Justice, or DOJ, announced the creation of a specialized unit, the National Cryptocurrency Enforcement Team, or NCET, tasked with prosecuting criminal misuses of digital assets and crypto infrastructure, as well as tracing and recovering the ill-gotten cryptocurrency. The move continues the U.S. authorities’ push to disrupt the
Optimism is bordering euphoria in the cryptocurrency market after a trove of documents pointing toward the eventual approval of Valkyrie’s Bitcoin (BTC) ETF application by the U.S. Securities Exchange Commission before the end of the month. Data from Cointelegraph Markets Pro and TradingView shows that the price action for BTC spiked in the early trading hours
On Oct. 15, the Commodity Futures Trading Commission, or CFTC, handed sister crypto companies Tether and Bitfinex fines totaling $41 million and $1.5 million, respectively, citing violations of the Commodity Exchange Act, or CEA, and of a prior CFTC order. The regulator has found that Tether, the firm behind an eponymous stablecoin, has only held sufficient
Bitcoiner Allan Flynn has settled his first complaint with the Australia and New Zealand Banking Group (ANZ) over being unilaterally debanked in 2018 due to his occupation as a Digital Currency Exchange (DCE). The settlement comes 20 months after the Canberra resident first filed complaints with the ACT Civil and Administrative Tribunal against ANZ. In
On Oct. 14, cryptocurrency exchange platform Coinbase published its Digital Asset Policy Proposal, a document offering both a justification and conceptual framework for comprehensive regulation of digital assets in the United States. Coinbase presented the proposal as a product of dozens of meetings with industry participants, policymakers, crypto innovators and academics that the company’s representatives
With an increasing number of people forced to work from their homes, data suggests that ransomware attacks are at their all-time highest with the frequency of these incidents increasing by 45% over the course of April 2021 alone. Not only that, some are adamant that the rise in ransomware attacks is closely connected to the
Group of Seven advanced economic nations has been discussing central bank digital currencies (CBDCs) this week, concluding that they should “do no harm” and meet rigorous standards. Finance leaders from the G7 met in Washington on Oct. 13 to discuss central bank digital currencies and endorsed 13 public policy principles regarding their implementation. The G7,
Jon Cunliffe, deputy governor for financial stability at the Bank of England, said the risks of a growing crypto market on the financial system are “relatively limited” at the moment but have the potential to grow very rapidly if regulators do not keep pace. In a speech to the Society for Worldwide Interbank Financial Telecommunication
Anthony Albanese, chief operating officer of Andreessen Horowitz’s (a16z) crypto division, and Katie Haun, general partner at the firm, are among a high-powered delegation from the venture capital giant who will engage with lawmakers and administration officials in the United States on crypto regulations. According to CNBC on Wednesday, the move is part of efforts
Australian lawmakers are taking a tougher stance against ransomware with a new plan that increases penalties for offenders. The new measures and proposed Surveillance Legislation Amendment announced by the federal government on Oct. 13 come after a 60% surge in cyberattacks on Australian businesses and state agencies last year. According to reports, these incursions cost
While Russia continues to enforce a ban on cryptocurrency payments as part of a law which took effect in January, the country has no plans at this time to completely prohibit trading by its citizens. According to an Oct. 12 report from local news agency Interfax, Alexey Moiseev, the deputy finance minister of the Russian