Working on their national crypto framework, the amendments to the law “On virtual assets,” the Ukrainian regulatory community actively collaborates with international experts. The list includes the international consultancy firm Ernst&Young and the USAID Financial Sector Reform project. On Dec. 1, the Advisory Council on the Regulation of Virtual Assets, organized by the National Securities and Stock
According to the South African government, crypto entities — or businesses whose activities include the exchange or transfer of crypto assets — are set to be included in the list of so-called accountable institutions starting Dec. 19. Businesses that convert one crypto asset to another or that conduct transactions where a crypto asset is transferred
With the new announcement that Cardano is on its way to release an algorithmic stablecoin in 2023, various community members expressed concerns, comparing the project to Terra USD (UST), which caused great losses within the crypto space in 2022. According to its developers, the stablecoin project Djed will be pegged to the U.S. dollar and
Cryptocurrency miners in Russia appear to be unbothered by the ongoing crisis of crypto mining as the local demand for mining hardware has reportedly been on the surge in Q4 2022. Some crypto mining hardware distributors in Russia have faced a significant spike in demand for mining-designed application-specific integrated circuit (ASIC) chips, the local news
Central bank governors from around the globe are currently in Thailand to discuss the role of central banks amid evolving financial technology. The conference is jointly hosted by the Bank of Thailand (BOT) and the Bank for International Settlements (BIS). A panel discussion on digitalized monetary systems saw Eddie Yue, chief executive of the Hong Kong
Animoca Brands, the parent company of metaverse projects like The Sandbox, has announced it plans to launch a $2 billion metaverse fund. The new fund, which would be focused on returns for potential investors wanting to get more Web3-related capital exposure, will focus its activities on companies in the mid-to-late investment stages. Animoca Brands Plans
press release PRESS RELEASE. A game-changing Web3 security solution was launched on December 1, 2022. As the digital world is getting more advanced, scammers invent new elaborate ways to cheat web3 users and steal their assets. Smart contracts forgery, phishing websites, airdrop scams, and spamming are just a few of the dangers one faces when
Galaxy Digital’s CEO Mike Novogratz talked to Andrew Ross Sorkin on CNBC’s Squawk Box and gave his reaction to Sam Bankman-Fried’s (SBF) recent New York Times (NYT) Dealbook Summit interview. Novogratz said that SBF was “delusional” and insisted that the former FTX CEO needs to be prosecuted and further said, “he will spend time in
The United States Trustee handling FTX’s bankruptcy proceedings has referred to the now-defunct exchange as the ”fastest big corporate failure in American history,” and is calling for an independent probe to look into its downfall. In a Dec. 1 motion, U.S. Trustee Andrew Vara noted that over the course of eight days in November, debtors “suffered
Former FTX CEO Sam Bankman-Fried (SBF) has been lambasted this week following a series of controversial public appearances, with Galaxy Digital’s Mike Novogratz one of the latest to dish out a lashing to the former kingpin of crypto. On Dec. 1, Galaxy Digital CEO Mike Novogratz unleashed a tirade of criticism towards SBF concerning his
While many crypto exchanges have seemingly embraced the use of proof-of-reserves (PoR) to showcase their transparency and reassure nervous users, crypto analyst Martin Hiesboeck insists such so-called proofs are susceptible to manipulation or misrepresentation. He added that PoRs alone are not a suitable method of verifying an exchange’s reserves because they do not “account for
BNB Chain-based decentralized finance (DeFi) protocol Ankr has confirmed it has been hit by a multi-million dollar exploit on Dec. 1. The attack appeared to be first discovered by on-chain security analyst PeckShield at approximately 12:35 am UTC on Dec. 2. Within an hour of the attack, Ankr confirmed on Twitter that the aBNB token
Decentralized finance (DeFi) protocol Trader Joe has announced its very first expansion from Avalanche and onto the Ethereum ecosystem, as part of its plans to access new markets and drive up user activity. The decentralized trading platform announced its “multi-chain” expansion into Ethereum layer-2 scaling solution Arbitrum One on Dec. 1 and follows around a
Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned about “an extended multi-year recession” in the U.S. He believes there isn’t a strategy to pull us out of “this real recession.” Michael Burry’s Recession Warning Famous investor and founder of investment firm Scion Asset Management, Michael Burry, has warned about
The New York State Department of Financial Services (DFS) has submitted a proposed change in state laws that would allow it to charge licensed crypto companies for regulating them. While that may seem like an odd proposition, under Financial Services Law (FSL) it is common practice for the DFS to charge licensed non-crypto financial entities
Shark Tank star Kevin O’Leary and billionaire hedge fund manager Bill Ackman have been slammed for stating that they believe Sam Bankman-Fried (SBF) was telling the truth that he “didn’t knowingly commingle funds.” The former CEO of the collapsed crypto exchange FTX also said he “wasn’t running Alameda,” so he “didn’t know exactly what was
A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green mining operations and the issue of segregating customer assets from company funds for
Disparities in information access and data analytics technology are what give institutional players an edge over regular retail investors in the digital asset space. The core idea behind Markets Pro, Cointelegraph’s crypto-intelligence platform powered by data analytics firm The Tie, is to equalize the information asymmetries present in the cryptocurrency market. Markets Pro bridges the
The New York State Department of Financial Services, or NYDFS, has proposed a regulation which would allow the government department to assess supervisory costs from licensed crypto firms operating in the state. In a Dec. 1 announcement, NYDFS Superintendent Adrienne Harris opened the proposed budget measure for public comment. The regulation, if approved, would grant
United States Commodity Futures Trading Commission chair Rostin Behnam told a Senate Agriculture, Nutrition, and Forestry Committee meeting Dec. 1 that his agency’s regulations contain “core elements that have served the markets for decades.” But as the fallout from the FTX collapse gets sorted out, notable gaps in current legislation have come to light, Behnam