In a recent publication, Australia’s Department of the Treasury revealed plans to levy new codes and business standards to address financial crime. The regulatory agencies formulated a consultation paper detailing the new approach for mitigating consumer and business scams. The report mirrors…
In advanced communication, the famous messaging protocol Wormhole raised approximately $225 million from a funding round led by the European investment company Brevan Howard. Other participants in the successful fundraising included Coinbase Ventures, ParaFi, Arrington Capital, Borderless Capital, and Jump Trading. The…
The U.S Treasury has requested the U.S congress has requested more authority to crack down on the crypto industry. The department sent recommendations to lawmakers, including the need for new sanction tools prepared remarks from Deputy Treasury Secretary Wally Adeyemo showed. “We…
In a November 28 update, the renowned Multi-party computation (MPC) wallet provider Fireblocks was debuting a new trading system, Off Exchange, for institutional clients. The Fireblocks team confirmed that the new trading platform will leverage emerging technologies to allow institutional customers to…
In the recent turn of events, the world’s largest crypto exchange by daily trading volume, Binance, has battled a series of legal charges due to non-compliance. The legal peril facing Binance and the recent multi-million settlement with the US regulatory agencies has…
In an advance communication, the prominent stablecoin issuer Circle sealed a partnership agreement with the Japan-based financial institution SBI Holdings to push for mainstream crypto adoption. The two partners agreed to combine forces to increase USDC and Web3 services adoption in Japan….
Top crypto trading and investing company eToro has secured an operational license from the United Arab Emirates (UAE) to operate in Abu Dhabi. The Abu Dhabi Financial Markets Authority (ADGM), on behalf of the country awarded the a Financial Services Permission (FSP)…
In readiness for the fourth Bitcoin halving, crypto firms are exploring ways to maximize their profits before April 2024, when the reward for mining BTC will be reduced by half. The attempt to solve the complex puzzle revolving around the upcoming Bitcoin…
As global regulators seek to provide comprehensive regulations for digital assets, most crypto exchanges have prioritized improving their compliance level to operate as regulated entities. On Friday, November 25, the prominent crypto exchange in Singapore, Zipmex, took strategic action to meet the…
The prominent lightning wallet provider Wallet of Satoshi (WoS) has suspended its services in the US. In an advanced communication, the WoS claimed to have removed its application from Apple and Google app catalogs, marking a dramatic exit from the US market….
With the changes in the financial ecosystem, tokenization has emerged as a developing trend seeking to redefine most industries. The astounding growth of the tokenization of assets has challenged investment managers in the United Kingdom to engage regulatory agencies in supporting the…
Another top crypto exchange, HTX has come under attack alongside the Heco Chain blockchain protocol. The attack resulted in the theft of $100 million in several different cryptocurrencies. Former CEO of Tron and long-time cryptocurrency entrepreneur and an investor in HTX Justin…
In an exciting turn of events, the team behind Photoshop Adobe System entered into a merger and acquisition deal with the Indian-based artificial intelligence company Rephrase.ai. The acquisition of Rephrase.ai aimed at enabling Adobe Systems to expand its AI capabilities. Adobe Acquires…
In an advanced communication dated November 23, the prominent Ethereum-powered decentralized exchange (DEX) KyberSwap was hit by a malicious attack. The announcement revealed that the attackers compromised the KyberSwap Elastic Pools Liquidity Solution (EPLS) to heist around $48 million. The Elastic pools…
The UK has announced new legislation that will provide support for the crypto sector in the country. UK Chancellor of the Exchequer Jeremy Hunt outlined 110 measures for growing the nation’s economy in a mini-budget announcement which includes plans to boost the…
Top crypto exchange Coinbase has accused the securities and exchange commission (SEC) of delaying action on the new crypto rules the exchange has proposed. Coinbase in a letter to the Court of Appeals argued that the Securities and Exchange Commission (SEC) has…
Top accounting firm KPMG through its Canadian arm has partnered with on-chain analysis firm Chainalysis to help organizations combat crypto-related fraud in the country. According to a statement, KPMG will be working with Chainalysis’ “Solution Provider” program, offering “rigorous monitoring, support, governance…
World’s largest crypto exchange, Binance has seen a massive outflow of assets following news that its CEO Changpeng “CZ” Zhao Was resigning after pleading guilty to criminal charges in the U.S. Data from DeFiLlama revealed that the exchange recorded a net outflow…
The departure of Sam Altman from OpenAI has exposed the tech company to potential career gaps as more employees threaten to step down. In a recent update, the OpenAI core team demanded the board to reconsider its decision and return Altman. In…
The Securities and Exchange Commission (SEC) on Monday filed a lawsuit against one of the biggest global crypto exchanges, Kraken. The agency is alleging that Kraken violates securities laws by running an unregistered online trading platform. In response to the lawsuit, Kraken…
