On March 20, members of the Australian Banking Association(ABA) issued a report on a study conducted to investigate the impact of Covid-19 and macroeconomic pressure on the cost of living in the region. The study aimed to support ABA groups and legislators…
The banking and financial sector in the USA is currently in a state of fear and uncertainty. The chain of unfortunate events started with the voluntary bankruptcy filing of Silvergate. This incident was shortly followed by Silicon Valley Bank, which was sealed…
On March 15, the crypto-friendly country El Salvador launched a Bitcoin training program to push the mainstream adoption of cryptocurrency. The training program aims at equipping developers with skills on Web3 and blockchain technologies. The Salvadoran government collaborated with the largest stablecoin…
The regulatory watchdog in the Netherlands issued a report on March 16 revealing plans to implement stricter policies when enacting the market in crypto asset laws (MiCA). The report was supported by the head of authority for the financial market (AFM) Laura…
Silvergate Capital Corporation has decided to opt for voluntary liquidation of its crypto banking enterprise called Silvergate bank. This decision has once again aired concerns among crypto stakeholders regarding the stability of crypto enterprises. On the other hand, some crypto experts see…
The Financial Stability Board (FSB), also known as the financial watchdog powered by the Bank for International Settlements, is attempting to broaden the international regulations focused on the decentralized finance sector. A report was issued by the FSB on the risks posed…
Brian Armstrong, the CEO of Coinbase, has said that the firm has heard rumours regarding the imposition of a prohibition on staking by the US SEC. The CEO noted in a post on his official Twitter account that the Securities and Exchange…
Organizational investors and rich people are slightly reluctant about crypto adoption due to the bear market that dominated the whole of the 2022 year. However, in advance of the bear market of the previous year, the year 2021 witnessed a huge upsurge…
The US Securities and Exchange Commission (SEC) halted Bitcoin advancement across the country with its enforced regulatory measures, as per the Grayscale Investments’ CEO. The Wall Street Journal recently published a letter in which the CEO remarked on the SEC’s role as…
The Cabinet of the United Arab Emirates (UAE) has determined to approve an exclusive bill to administer virtual assets. The bill recommends the organization of the earliest regulatory era for the crypto world in the country. In advance of the federal-scale regulation,…
Crypto.com, a crypto wallet provider and exchange, has delisted Tether (the leading stablecoin) on its platform in Canada. The company recently sent an email to consumers living in Canada and notified them that it will not support the prominent stablecoin from the…
Sam Bankman-Fried (SBF), the founder of FTX, has been provided free advice by Martin Shkreli (a white-collar criminal in the past going by the name “Pharma Bro”) to survive in federal prison. Shkreli spent nearly 4 years in prison for securities fraud…
Core Scientific Inc., a giant in Bitcoin mining, has submitted a Chapter 11 bankruptcy filing in the US Bankruptcy Court for the Southern District of Texas. The liabilities of the mining platform are likely between $1B and $10B. The bankruptcy submission disclosed…
Alameda Research Ex-CEO Caroline Ellison and Gary Wang, the FTX co-founder, have pleaded guilty to charges filed against them. On Wednesday, U.S. Attorney Damian Williams announced that the pair was ready to cooperate in the investigation into FTX’s sudden collapse. The Security…
A class-action legal case proposes that a significant role has been played by Silvergate in the alleged scam that took place at FTX (the crypto exchange of Sam Bankman-Fried). The petitioners assert that the crypto bank has also been responsible for the…
The crypto industry is regulated regionally, with some nations making faster and more decisive moves compared to others. The EU has developed some rules for members of the union, and some nations in Europe stepped up their policy-making game in 2022. However,…
The financial authorities are contemplating beginning discussions with the crypto industry while targeting to implement rules that would regulate the crypto exchanges in the coming year following the crash of FTX.com (one of the largest crypto trading companies across the globe), as…
According to reports, the US Department of Justice is looking into the FTX CEO’s withdrawal of funds from the country. The unnamed whistleblower disclosed that DOJ representatives spoke with her court-appointed FTX supervisor about the volume of data required for additional investigation. …
Crypto coins that have a bad environmental effect and may be banned, according to ECB officials. Officials from the EU have previously opposed a complete prohibition on cryptocurrency creation, but regulations governing the market for digital assets could require companies to disclose…
