The Capital Market Authority (CMA), the regulator of Oman’s financial markets, looks to establish a new regulatory framework for the virtual asset industry in the Sultanate. According to a Feb. 14 press release, the new rules would include oversight of virtual asset activities, a licensing process for virtual asset service providers (VASPs), and a framework
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The top Mt. Gox creditor chose to have an early payout in Bitcoin (BTC), deciding against waiting longer for an even larger payment. Mt. Gox Investment Fund, the largest creditor of the defunct crypto exchange, reportedly decided to take its chances with a lesser but earlier payout rather than waiting for all the legal processes
The president of the Central Bank of Brazil, Roberto Campos Neto, has clarified the status of the development of the Brazilian central bank digital currency (CBDC), the digital real. Campos Neto stated that the pilot test will start now and that banks will have to digitize more of their balances in the future. Pilot Tests
The United States Securities and Exchange Commission’s (SEC’s) lawsuit against Terraform Labs and its co-founder Do Kwon could be seen as an SEC “roadmap” to taking down other stablecoins, according to a lawyer. Gabriel Shapiro, general counsel at investment firm Delphi Labs, explained to his 33,800 Twitter followers on Feb. 16 that the SEC’s arguments
Crypto exchanges Binance and Huobi have frozen cryptocurrencies worth approximately $1.4 million linked to North Korea, according to blockchain analytics firm Elliptic. The firm noted that the stolen funds, which were dormant until recently, originated from the June 2022 hack of Harmony’s Horizon Bridge. North Korea-Linked Crypto Frozen by Binance and Huobi Blockchain analytics firm
Cryptocurrency investors funneled as much as $4.6 billion into crypto tokens suspected to be part of “pump and dump” schemes in 2022. A Feb. 16 report from blockchain analytics firm Chainalysis “analyzed all tokens launched” in 2022 on the BNB and Ethereum blockchains and found just over 9,900 bore characteristics of a “pump and dump”
Former FTX CEO Sam Bankman-Fried could “conceivably” have his bail revoked after a federal judge said there was “probable cause” to believe he may have engaged in attempted witness tampering. In the Feb. 16 hearing on Bankman-Fried’s bail conditions, Judge Lewis Kaplan said there was “probable cause to believe that he [Bankman-Fried] has committed or
Famous actor Keanu Reeves says dismissing crypto or criticizing its volatility will only “make it better in terms of how it’s safeguarded.” The Matrix star added that the principle and ideas behind an independent currency are “amazing.” Keanu Reeves Praises Crypto Famous actor Keanu Reeves talked about cryptocurrency in an interview with Wired, published Tuesday.
Our weekly roundup of news from East Asia curates the industry’s most important developments. China blockchain SIM card Conflux Network says it is working with the second-largest telecommunications provider in China to develop a blockchain SIM card that will serve as a secure place to store digital private keys and nonfungible tokens. Conflux announced its
Only days after reports of United States regulatory scrutiny of Paxos and Binance USD (BUSD), cryptocurrency exchange Binance has minted nearly $50 million worth of TrueUSD (TUSD). The transaction took place on Feb. 16, according to data from Etherscan, and also comes two days after Binance CEO Chanpeng ‘CZ’ Zhao said in a Feb. 14
Crypto scam revenue was slashed by almost half in 2022 due mainly to falling crypto asset prices, but two scam types managed to stay immune. Crypto scam revenue in 2022, which includes investment scams, NFT scams and romance scams, among others, amounted to $5.9 billion in the year — down 46% from 2021. The data
Galaxy Digital CEO Mike Novogratz says he wouldn’t be surprised if the price of bitcoin returns to $30,000 next month. “When I look at the price action, when I look at the excitement of the customers calling, the FOMO [fear of missing out] building up, it wouldn’t surprise me,” the executive shared. Bitcoin Could Return
The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which were involved in
Bitcoin (BTC) price rallied over 12% on Feb. 15, marking the highest daily close in more than six months. Curiously, the movement happened while gold reached a 40-day low at $1,826, indicating some potential shift in investors’ risk assessment for cryptocurrencies. A stronger than expected U.S. inflation report on Feb. 14 presented 5.6% growth year-over-year,
The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Terraform Labs and its founder Do Kwon for “orchestrating a multi-billion dollar crypto asset securities fraud.” In a Feb. 16 statement, the SEC said Kwon and Terraform offered and sold an “inter-connected suite of crypto asset securities, many in unregistered transactions” pointing
The chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, Sherrod Brown, has called for a comprehensive regulatory framework for cryptocurrencies. “Recent crypto meltdowns have made clear that we need a comprehensive framework to regulate crypto products to protect consumers and our financial system,” said the senator. US Lawmaker Wants Comprehensive Regulatory
GBBC Digital Finance announced on Feb. 16 that it has joined the International Organization of Securities Commissions (IOSCO) as an affiliate member. The IOSCO is an international association that develops and promotes international standards for securities. IOSCO’s members include 35 national securities regulators and over 200 affiliated organizations. In addition, the IOSCO has an Affiliate
Judge Lewis Kaplan reportedly targeted Sam Bankman-Fried’s internet usage in a hearing aimed at reviewing the former FTX chief executive officer use of a virtual private network, or VPN. According to a Feb. 16 tweet from NPR correspondent David Gura, Judge Kaplan may have suggested that Bankman-Fried be denied access to any electronic device and
The Central Bank of Uzbekistan has permitted foreign-based businesses to open domestic bank accounts and deposit funds received from cryptocurrency trading. These companies will also be able to transfer the money abroad, but operations in the country will be restricted. Uzbekistan Updates Rules for Operations With Proceeds From Crypto Exchange Transactions The Central Bank of
Play to Earn retro games with Bitcoin payouts may soon be making their way to a bar, conference, or meetup near you, according to a Feb. 12 Twitter post by Zebedee founder Christian Moss. The software is tentatively called “Bit-tendo.” Bitcoin Pay to Play & Play to Earn in Super Mario 3 on the original NES!