In a recent development, a Federal High Court in Nigeria has issued a directive to Binance, one of the largest crypto exchanges in the world, demanding detailed information on all its Nigerian users to be provided to the country’s top anti-corruption agency. This move comes amidst escalating tensions between the exchange and Nigerian authorities, with
Regulation
The Asia Pacific region (APAC) has been making significant strides in the technology industry, with countries like Singapore and Hong Kong leading the way in terms of regulatory frameworks. Singapore, for instance, implemented stablecoin regulation last year, showcasing its commitment to creating a secure crypto ecosystem. This move sets a precedent for other countries to
Grayscale has recently made amendments to its regulatory filing, signaling its intention to convert its Ethereum Trust into a spot exchange-traded fund (ETF). The March 15 amendment serves to bolster the company’s initial filing in several key ways. One significant update is the inclusion of a correlation analysis conducted by Coinbase, which presents evidence supporting
The chances of approval for pending spot Ethereum exchange-traded fund (ETF) applications in May seem to be dwindling due to the recent urging from two US Senators for the Securities and Exchange Commission (SEC) to reject other crypto ETF proposals. Senators Jack Reed and Laphonza Butler advised the SEC to tighten its scrutiny of Bitcoin
Hong Kong’s Securities and Futures Commission (SFC) recently issued a public warning about Bybit, adding it to the list of suspicious virtual asset trading platforms due to its unlicensed operations. The SFC expressed concerns that Bybit has offered its products to Hong Kong investors without securing the required license to conduct regulated activities in the
The recent findings by blockchain analytics firm Elliptic have shed light on the fact that the North Korea-backed hacker group Lazarus is once again utilizing the sanctioned crypto mixer Tornado Cash to obscure their transactions. Despite ceasing the use of Tornado Cash last year following US government sanctions, Lazarus has now resorted back to this
Tether, a leading stablecoin issuer, recently partnered with the US Department of Justice and the FBI to seize $1.4 million USDT linked to a tech support scam network. This fraudulent scheme specifically targeted vulnerable elderly individuals through deceptive pop-up advertisements. Victims were led to believe that their devices had been compromised and sought help from
The Biden administration recently unveiled its proposed budget for 2025, containing significant provisions aimed at regulating digital assets. These regulations are projected to result in an increase of nearly $10 billion in tax revenue by 2025. The primary objective of these measures is to address a loophole that has allowed affluent crypto investors to exploit
Worldcoin developer Tools for Humanity has taken legal action against Spain’s recent ban on its data collection and usage within the country for a period of three months. In a blog post on March 6, Worldcoin stated that Spain’s regulators bypassed the standard EU GDPR procedures by imposing the ban, forcing them to resort to
During a recent Senate Banking Committee hearing on monetary policy, US Federal Reserve Chair Jerome Powell emphasized the Fed’s position on central bank digital currency (CBDC). Powell made it clear that the Federal Reserve is nowhere near considering or proposing a CBDC. He reassured lawmakers that any potential digital dollar system would prioritize privacy and