In a recent letter addressed to House Financial Service Committee Chairman Patrick McHenry and Ranking Member Maxine Waters, Senator Elizabeth Warren raised concerns about the proposed stablecoin bill. She emphasized the importance of including anti-money laundering laws in the regulation of stablecoins to mitigate risks to consumers and the banking system. Warren highlighted that the
Blockchain
Artificial intelligence firm Sapien AI recently announced a successful seed funding round, raising $5 million with support from Primitive Ventures, Animoca Ventures, Ravikant Capital, and Yield Guild Games. This injection of capital will enable Sapien to enhance its mission of offering scalable annotation services for training AI models through its gamified data labelling platform. According
South Korean regulators are taking a firm stance against traders who attempt to dump stolen coins on the country’s crypto exchanges. This move comes after a suspected hack on the NFPrompt platform raised concerns about the integrity of the cryptocurrency market in the nation. Unethical Trading Practices The issue came to light when it was
Senator Tim Scott, a Republican from South Carolina, has recently referred to cryptocurrencies as a “scapegoat” for the federal government’s concerns about illicit finance. This statement was made during a crypto hearing held by the United States Senate Committee on Banking, Housing, and Urban Affairs. At the hearing, Deputy Secretary of the Department of the
One of the most recent developments in the world of cryptocurrency is the introduction of the 1inch Crypto Card by decentralized exchange aggregator 1inch. This groundbreaking card, developed in partnership with Baanx and powered by Mastercard, aims to bridge the gap between traditional finance and decentralized finance (DeFi). By allowing users to seamlessly convert their
The much-anticipated trial of Avraham Eisenberg, a crypto criminal accused of defrauding the crypto exchange Mango Markets of approximately $110 million, has commenced with jury selection in Manhattan federal court. Eisenberg, who was arrested in December 2022, is facing charges of commodities fraud, commodities manipulation, and wire fraud in connection to the alleged cryptocurrency scheme.
Russian fintech companies have recently entered into partnerships with the Central Bank of Russia to participate in the country’s digital ruble pilot program. According to reports from the Russian media outlet Cnews, firms such as SimbirSoft and Sinara Lab will be working closely with the Central Bank to implement digital ruble software products into online
Recently, tax officials in the city of Pohang, South Korea, have taken action to seize cryptoassets from over 5,000 residents who have failed to pay local taxes. This move is part of a national crackdown on tax evasion, with the goal of collecting millions of dollars in unpaid taxes. The individuals targeted in this operation
In a recent announcement on April 4, Binance made the decision to suspend Bitcoin Ordinals trades and deposits starting from April 18, 2024. This move has raised concerns among holders of Bitcoin-based non-fungible tokens (NFTs) who are now advised to withdraw their assets from the trading platform’s NFT marketplace before May 18, 2024. While Binance
The arraignment of two Binance executives in Nigeria has been postponed until April 19, as the country seeks criminal charges against the crypto duo. Initially detained in late February, Binance’s head of financial crime compliance, Tigran Gambrayan, and the regional manager for Binance in Africa, Nadeem Anjarwalla, are facing charges of money laundering and operating