Senator Elizabeth Warren has raised alarms about the potential risks associated with regulating stablecoins without adequate anti-money laundering laws in place. In a recent letter to House Financial Service Committee Chairman Patrick McHenry and Ranking Member Maxine Waters, Warren expressed her concerns about the national security implications of such a move. She argued that creating
Blockchain
Artificial intelligence firm Sapien AI recently announced that they have successfully raised $5 million in a seed funding round, with key investors such as Primitive Ventures, Animoca Ventures, Ravikant Capital, and Yield Guild Games participating in the funding. The purpose of this funding is to propel Sapien’s mission of offering scalable annotation services for training
In a recent move, South Korean regulators are taking actions to block traders from dumping stolen coins on the country’s cryptocurrency exchanges. The decision comes in the wake of a suspected hack on the NFPrompt (NFP) platform last month, which raised concerns about the trading of hacked tokens in the nation. The Financial Supervisory Service
Senator Tim Scott’s recent comments on cryptocurrencies being a “scapegoat” for the federal government’s concerns about illicit finance have sparked a heated debate within the United States Senate Committee on Banking, Housing, and Urban Affairs. During a crypto hearing focused on countering illicit finance, terrorism, and sanctions evasions, Deputy Secretary of the Department of the
In a recent announcement, decentralized exchange aggregator 1inch introduced a new crypto debit card in partnership with Mastercard and Baanx. This innovative card aims to facilitate online and in-person purchases for crypto users, marking a significant milestone in the intersection of decentralized finance (DeFi) and traditional financial services. The 1inch Crypto Card offers users the
The highly anticipated trial of Avraham Eisenberg, the crypto criminal accused of orchestrating a $110 million fraud scheme on the crypto exchange Mango Markets, has finally commenced with jury selection starting in Manhattan federal court. Eisenberg, who was arrested back in December 2022, is facing serious charges including commodities fraud, commodities manipulation, and wire fraud
In the city of Pohang, South Korean tax officials are clamping down on tax evasion by seizing cryptoassets from residents who have failed to pay their local taxes. This move is part of a broader crackdown on individuals who have evaded tax bills worth $370 or more. The city of Pohang has set ambitious targets
Recently, Russian fintech firms have started participating in the country’s digital ruble pilot program, highlighting a shift towards more technologically advanced financial systems. This move comes as the Central Bank of Russia aims to expand the reach of its Central Bank Digital Currency (CBDC) project. Fintech companies like SimbirSoft and Sinara Lab have teamed up
On April 4, Binance made the decision to suspend Bitcoin Ordinals trades and deposits, sending shockwaves through the cryptocurrency community. The exchange advised holders of Bitcoin-based non-fungible tokens (NFTs) to withdraw their assets from the platform’s NFT marketplace by May 18, 2024. The reason behind this abrupt suspension was not disclosed, with Binance citing a
The arraignment of two Binance executives in Nigeria has been delayed until April 19, as the country pursues criminal charges against them. This legal battle began in late February when Tigran Gambrayan and Nadeem Anjarwalla were detained by Nigerian authorities. While Gambrayan attended a recent court hearing, Anjarwalla managed to escape captivity. The judge agreed
