Recently, Bayo Onanuga, a special adviser to Nigerian President Bola Tinubu, made strong accusations against Binance, a cryptocurrency exchange platform. He claimed that Binance was “blatantly setting exchange rates for Nigeria, hijacking CBN role.” Onanuga urged the EFCC and CBN to take action against platforms like Binance that he believes are manipulating the national currency.
Regulation
The Hong Kong Monetary Authority (HKMA) recently introduced new regulatory standards on the sale and distribution of tokenized financial products by authorized institutions. The goal of these standards is to promote innovation while safeguarding consumer protection in the rapidly growing field of tokenization. This innovative technology involves digitizing real-world assets (RWA) using distributed ledger technology,
In a recent strategic move ahead of the upcoming general elections, South Korea’s ruling party, the People Power Party (PPP), has announced plans to push for a further two-year delay in the implementation of crypto taxation. This decision, revealed during a press conference on Feb. 19, aims to explore the possibility of postponing the commencement
The landscape of the US Bitcoin industry is currently facing an uncertain future as various factors come into play, threatening to shift the paradigm in a way that may not be favorable for the industry as a whole. With the looming presence of a Bitcoin ETF controlled by major financial institutions and the potential legislation
Recent reports reveal that the US Security and Exchange Commission’s (SEC) Office of Inspector General (OIG) is currently investigating cryptocurrency-related financial conflicts of interest. Empower Oversight, an accountability group, brought attention to the matter, highlighting concerns regarding the failures of the SEC’s Ethics Office and a former official, William Hinman. Allegations suggest that Hinman engaged
The recent approval of a digital asset bill by the Judiciary Committee in Iowa marks a progressive step towards integrating digital assets into commercial transactions. House File 2519, titled “An act relating to commercial transactions, including control and transmission of electronic records and digital assets,” introduces significant amendments to the Uniform Commercial Code with the
In a recent testimony to Congress, Undersecretary for Terrorism and Financial Intelligence at the US Department of the Treasury, Brian Nelson, challenged widely held beliefs about the role of cryptocurrencies in funding terrorist activities. Nelson’s insights during the House Financial Services Committee hearing painted a picture starkly different from previous reports, particularly concerning the involvement
Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), recently addressed lawmakers regarding a breach of the SEC’s X account. This breach occurred on Jan. 9 when an unknown actor performed a SIM swap attack on the SEC’s X account and published a false message claiming that the SEC had approved several
Elon Musk has recently been summoned to testify in a US Securities and Exchange Commission (SEC) inquiry regarding his acquisition of the social media platform Twitter, now known as X. The court filing reveals that Judge Laurel Beeler has upheld the SEC’s authority in this matter, confirming that the subpoena serves the purpose of gathering