On Tuesday, the financial authority of the European Union released guidelines for cryptocurrency companies to adhere to its anti-money laundering and anti-terror funding mandates.The European Banking Authority (EBA) stated in a news release that by broadening the scope of its current regulations to include cryptocurrency, it “harmonizes the approach” that crypto asset service providers (CASP) throughout the EU should take to combat financial crime. “The risks of this happening can be increased, for example because of the speed of crypto-asset transfers or because some products contain features that hide the user’s identity. Therefore, it is important that CASPs know about these risks and put in place measures that effectively mitigate them,” the statement said. Along with its historic Markets in Crypto Assets (MiCA) legislative package, the EU last year completed laws governing the transfer of funds via digital assets.Since then, the Financial Action Task Force (FATF), a global watchdog, has recommended changes to the proposed guidelines to prevent the exploitation of cryptocurrency transactions. The EBA has produced guidelines on risk-based supervision of CASPs and is currently consulting on these changes.Further recommendations regarding the internal policies and controls that CASPs ought to have are also being consulted. “Given the interdependence

The joint venture cryptocurrency exchange Binance Thailand, a product of Gulf Energy Development, and Binance, has announced that it is now available for trading. “We are incredibly humbled to finally inform the Thai audience about the debut of our local platform. Gulf Binance CEO Nirun Fuwattananukul said in a statement, “We have been working closely

The company that runs the cryptocurrency exchange based in Hong Kong, HashKey Group, announced on Tuesday that it had “nearly” reached its fundraising goal of $100 million. In August, HashKey made the announcement about the fundraising round, not long after receiving approval from Hong Kong’s security regulator to provide retail cryptocurrency trading. The company has

The cryptocurrency exchange’s Dubai-based subsidiary, OKX Middle East Fintech FZE, announced on Tuesday that it has obtained a licence from the Dubai Virtual Assets Regulatory Authority (VARA) and will begin full operational use in the coming weeks. Through the exchanges and its app, the company will be able to offer spot services and spot pairings

Phishing is a kind of cyberattack that tricks users into disclosing personal information like passwords, usernames, and bitcoin private keys by using social engineering techniques. Cybercriminals typically use phone calls, text messages, or emails to plan phishing assaults. Hackers usually trick their victims into entering their private keys or crypto wallet credentials by using malicious

Google’s (GOOGL) cloud business has become a validator and infrastructure provider on the Flare network.According to a Monday release published by CoinDesk, Google Cloud is one of 100 firms taking on this joint role, contributing to the Flare Time Series Oracle (FTSO) and protecting the network as a validator. Developers can access decentralized data through Flare’s Oracle system—dubbed “the blockchain for data” by the company.Oracles are entities that link networks to external systems so that smart contracts can be executed based on inputs and outputs from the outside world. This term is used in blockchain terminology. FLR, the native token of the network, is now trading at about $0.018 and has a market capitalization of almost $550 million.Following announcement of the partnership, the token increased by more than 4%.In order to assist developers in creating use cases for blockchain technology and promoting its adoption, Flare’s infrastructure suppliers are in charge of supplying high-quality data.It’s a major collaboration for Flare and a reminder of the continued embrace of blockchain technology at major tech companies like Google, as hardly many organizations provide access to as much data as Google Cloud does.

According to a recent report by cryptocurrency issuer Circle, which shows other use for cryptocurrencies besides speculative trading, the company witnessed a spike in remittances flowing via Asia via its USDC stablecoin.A cryptocurrency called USDC is backed by liquid cash and assets that are equivalent to cash, and it is correlated with the value of the US dollar. According to the research, $130 billion worth of USDC entered Asia in 2022.As per Circle, the value of digital currency received globally is attributed to the Asia-Pacific region at 29%, while North America and Western Europe contribute for 19% and 22%, respectively. Remittance transfers are another portion of these quantities, which is significant for developing nations like the Philippines that have sizable expatriate populations.According to the report, Circle has teamed up with Coins.ph, a Philippine-based exchange, in an attempt to win a portion of this about $36 billion market.In the research, Circle also says that USDC is helping bridge the region’s $510 billion trade finance gap, which is the absence of liquidity accessible to enterprises for cross-border transfers and credit.This helps especially in developing nations where there are limits on capital outflows, as companies frequently find it difficult to secure the finance they need for global trade. Taipei-based XREX is one business that is utilizing USDC to close this gap.Its founder, Wayne Huang, described how XREX uses stablecoins to create financial conduits across nations, using Taiwan’s strong dollar liquidity and other countries in Southeast Asia’s currency shortage in a CoinDesk profile from 2022.The usage of stablecoins in speculative trading has decreased 90% over the previous five years, according to Circle. According to the survey, 33% of Latin American consumers have made payments using stablecoins, and between 2021 and mid-2022, the region’s residents would have received $562 billion in digital money.

Although the amount of new capital that the new spot bitcoin exchange-traded funds (ETF) will draw is unknown, J.P. Morgan stated in a research paper that substantial inflows of funds from other cryptocurrency products are anticipated. According to the research, the market’s response to the U.S. Securities and Exchange Commission’s (SEC) grudging acceptance of spot

A feature of the XRP Ledger network was leveraged in an unsuccessful exploit attempt on famous crypto exchange Bitfinex, CEO Paolo Ardoino stated in an X post on Monday. roughly $15 billion worth of XRP were reported by on-chain service WhaleAlerts to be moved in an alleged transaction early Monday — equivalent to roughly half

The use of tokenized investment funds is growing, but credit rating agency Moody’s Investor Services issued a warning in a study on Monday, citing the technology providers’ “limited track record” as a factor in the heightened risk. Investment funds known as tokenized funds use distributed ledger technology (DLT), the driving force behind cryptocurrencies, to digitally

The price of bitcoin drops to $42,000 on Sunday and is presently trading at $42,588. This represents an almost 0.60% reduction. The question of whether now is the perfect moment to purchase the dip is one that both fans and investors are asking in light of the recent volatility in the value of Bitcoin. A

After a protracted crypto winter, cryptocurrency companies are anticipating calmer times ahead, with institutional demand and rising Bitcoin acceptance spurring innovation in the market. Industry insiders told Cointelegraph that scalability and compliance solutions are trends to watch this year. The Ethereum and Bitcoin networks face problems related to transaction fees and performance. Not by accident,

In the last 30 days, there have been market swings that have caused Solana to overtake XRP in HKVAC’s top 5 cryptocurrency worldwide index, and AVAX to replace Tron. A number of well-known cryptocurrencies have been removed from the top 5 crypto index, top 10 crypto index, and overall crypto index by the Hong Kong

With the app loaded and on the web, old users can still access and use the FIU-notified cryptocurrency exchanges, even though Google Play Store has blacklisted them. Google has eliminated several offshore exchanges, including Bitget, Huobi, OKX, Gate.io, MEXC, KuCoin, Binance, and Bitget, from the Play Store in India. Delisting of the same apps from

Vanguard, one of the world’s biggest asset management organizations, has secured a substantial investment in MicroStrategy (MSTR), providing investors with indirect exposure to Bitcoin (BTC).Vanguard is positioned as a major player in the cryptocurrency market while choosing not to offer Bitcoin exchange-traded funds (ETFs) on its platform. Instead, it has chosen to invest in MicroStrategy shares.According to information from Yahoo Finance, as of September 2023, Vanguard Group owned an astounding 1,126 million shares of MicroStrategy, or 8.24% of the company. Vanguard is now the second-largest institutional shareholder in the business intelligence company as a result of the sizeable investment. However, the fact that MicroStrategy has deliberately diversified its financial sheet by amassing an astounding 189,150 BTC in recent years—a sum estimated to be worth $5.9 billion—makes this investment especially noteworthy.As a result, MicroStrategy has been described by some analysts as “basically a leveraged Bitcoin ETF.” Unlike numerous other asset managers who have developed spot Bitcoin ETFs, Vanguard has purposely separated itself from the crypto market.When a flurry of asset managers launched spot Bitcoin exchange-traded funds (ETFs) on major Wall Street exchanges on January 11, Vanguard decided to prohibit the buying of these goods.The company rationalized its decision by claiming that these products did not correspond with its strategy, since it remains focused on traditional asset classes like equities, bonds, and cash, which it considers as the building blocks of a well-balanced, long-term investment portfolio.Vanguard has a sizable stake in MicroStrategy, which suggests that it has some indirect exposure to the cryptocurrency sector despite its stated position against Bitcoin ETFs. Because of this indirect exposure, the volatile price fluctuations of Bitcoin may have an impact on Vanguard’s mutual funds, which include the Vanguard Total Stock Market Index Fund, Vanguard Small-Cap Index Fund, Vanguard Extended Market Index Fund, and Vanguard Small-Cap Growth Index Fund.UBS, the massive banking company headquartered in Zürich, has stated that, in contrast to Vanguard, it will permit certain of its clients to trade bitcoin ETFs, provided they meet certain requirements.According to a UBS insider who wished to remain anonymous, the requirements are as follows: UBS is not permitted to solicit the trades, and accounts with a lower risk tolerance are not permitted to purchase them. Citigroup, meanwhile, “currently provides our institutional clients with access to the recently approved Bitcoin ETFs from an execution and asset servicing perspective,” a spokesperson said. The international bank with headquarters in New York is “evaluating the products for individual Wealth clients.”After almost ten years of regulatory resistance, the SEC approved eleven Bitcoin exchange-traded funds (ETFs) in a historic step.The ruling has made it possible for significant, established financial institutions like Fidelity, Invesco, and BlackRock to offer direct access to funds that invest in Bitcoin.Spot Bitcoin ETFs saw an incredible $4 billion in trading volume on their first day of trading, according to statistics from Yahoo Finance.

On January 15, the Petro (PTR), the cryptocurrency of Venezuela, is scheduled to stop trading.With the intention of assisting the nation in avoiding US sanctions, the Petro was unpopular from the beginning and was never widely adopted.On a government-run website devoted to the cryptocurrency, the official notification of Petro’s closure is purported to have been published, yet as of this writing, the website is unavailable.The administration component of the Venezuelan Patria website, which was reportedly the sole venue for Petro trading, is now only accessible through a password. Due to pressure from US sanctions, Venezuela’s fiat currency, the bolivar, saw severe devaluation. As a result, the Petro cryptocurrency was first introduced as an oil-backed digital money.The action was taken after Bitcoin had become well-known throughout the nation. President Nicolas Maduro of Venezuela ordered the Petro to be issued, but the legislature objected.Even after reaching complete operation in 2020, the Petro was not well-received abroad.The Bolivarian Alliance for the Peoples of Our America’s ten member states were encouraged to adopt it, although the Maduro administration did not succeed in getting it widely accepted.Acceptance of the Petro was not required because it was never deemed legal tender domestically. Remarkably, Banco de Venezuela, the biggest bank in the nation, refused to take Petro unless required to do so by a presidential decree.When U.S. Immigration and Customs Enforcement posted a $5 million reward in June 2020 for the arrest of Joselit Ramirez Camacho, the head of the National Superintendency of Crypto Assets, who was in charge of managing the Petro, the matter took a more serious turn.He was charged with being involved in the trafficking of illegal drugs abroad.In March 2023, Ramirez Camacho was apprehended in Venezuela on suspicion of financial irregularities in the country’s oil sector. As a result, the organization he oversaw was closed for reorganization and subsequently had its closure prolonged until March 2024.Numerous cryptocurrency exchanges and mining companies across the nation were forced to close as a result of this crackdown.Despite the Central Bank of Venezuela’s statement of plans to launch a central bank digital currency (CBDC) in 2021, it is important to remember that the Petro was not one.Sadly, those intentions were never carried out, making the Petro a botched attempt to overcome Venezuela’s economic difficulties.Following an investigation into a corruption scheme in which cryptocurrency wallets were used to divert money owed to the state-run oil giant Petróleos de Venezuela, state regulators in March of last year ordered an end to cryptocurrency mining.

Do Kwon, a co-founder of Terraform Labs, has asked the Southern District of New York United States District Court to push back his trial date until March. He cites difficulties obtaining extradition from Montenegro as justification for the motion.Kwon’s attorneys wrote to Judge Jed Rakoff on January 11th, expressing their desire for Kwon to personally attend the trial, which is set for January 29th.But they had assumed that by now Kwon would have been granted permission to return to the United States. “Mr. Kwon wishes to attend his trial. Counsel had hoped the extradition proceedings in Montenegro would proceed more quickly than they have.” The SEC accused Kwon of participating in the planning of a multibillion-dollar cryptocurrency securities scam and filed fraud charges against him in February 2023. The accusations included the demise of the corresponding token, Terra (LUNA), and stablecoin, TerraUSD (USTC), both from Terraform Labs.Although acknowledging the importance of the case, Kwon’s attorneys stated that he would not be able to attend the trial this month. “We understand the Court cannot put the trial on hold indefinitely, but an adjournment until mid-March would provide a realistic possibility for Mr. Kwon to attend,” the letter stated. The High Court of Podgorica’s ruling authorizing Kwon’s extradition to the United States or South Korea was overturned by the Appellate Court of Montenegro, according to a December 2023 Cointelegraph story.This is in response to rumors that, only one week prior, South Korean and American authorities were asking to keep Kwon in custody for an extra two months after his sentence was up.Both the U.S. and South Korea are pursuing Kwon’s extradition.Growing rumors have suggested that Kwon might receive multiple sentences in both nations.In March 2023, Kwon attempted to leave the country using forged travel documents and was apprehended in Montenegro.

According to BlackRock CEO Larry Fink, he hasn’t given thought to where Bitcoin’s price might go and that it might not replace fiat money for regular purchases. As he reiterates that Bitcoin should be viewed by the public as primarily an asset class, BlackRock CEO Larry Fink questions the viability of utilising it for regular

This distribution is in line with Hedera’s objective to broaden its customer base in the wake of its 2023 performance, which was demonstrated by the network’s 33 billion real-world transactions. The Hedera Council, the governing body of the Hedera network, has authorised allocating 4.86 billion. The native coin of Hedera Hashgraph, for advanced decentralised governance

Gensler declared that the SEC is assessing the effect of the security compromise on investors, marketplaces, and crypto authorities while taking the cybersecurity situation seriously. There is currently no proof that an unauthorised party obtained access to SEC devices, data, systems, or other social media accounts, according to US Securities and Exchange Commission (SEC) Chairman

A day after the highly anticipated bitcoin (BTC) exchange-traded fund (ETF) became live, BlackRock CEO Larry Fink supported the idea of an ether (ETH) ETF. “I see value in having an Ethereum ETF,” Fink said in an interview with CNBC on Friday. “These are just stepping stones towards tokenization and I really do believe this is where we’re going to be going.” BlackRock’s iShares Bitcoin Trust (IBIT) was one of the few such products to make its trading debut in the U.S. on Thursday after the Securities and Exchange Commission’s (SEC) approved the funds on Wednesday.Of the $4.6 billion in trading activity that the ETFs experienced overall, IBIT accounted for about $1 billion of it. As part of its long journey toward tokenization, the massive asset management company might now be trying to offer a product that is comparable to the Ethereum blockchain’s native token. The process of representing assets—digital or real—into tokens on a blockchain is known as tokenization.Fink thinks tokenization can resolve issues with corruption and money laundering.Additionally, Fink stated that he did not view cryptocurrencies as a form of money but rather as an asset class, citing bitcoin in particular as “an asset class that protects you” against concerns about geopolitical risk. “It’s no different than what gold represented over thousands of years,” he said. “Unlike

In the United States, white supremacist organizations have occasionally received funding from cryptocurrency, as per an analysis conducted by the Anti-Defamation League (ADL) last year that examined approximately $140,000 in transactions linked to fifteen extremist organizations or individuals.The ADL, an advocacy organization based in New York that fights extremism and antisemitism, observed that supporters of the bitcoin movement used a variety of digital asset platforms to transfer funds to hate groups; however, there was no proof that the funds were used for any illegal activity, including domestic terrorism.Furthermore, the research revealed that American banks frequently redirected the bitcoin that supporters had donated into the conventional financial system. “Extremists have increasingly turned to cryptocurrency due to the mistaken belief that the technology offers anonymity and is impervious to deplatforming,” noted the report from the ADL’s Center on Extremism, examining how the assets made their way into the hands of white nationalists. “Neither of these assumptions are accurate, but extremists have benefited from

Since its debut on U.S. exchanges on Thursday, Franklin Templeton’s bitcoin (BTC) exchange-traded fund (ETF) has the lowest cost of all the new investment products.The fee charged by San Mateo, California-based Franklin Templeton for its Bitcoin ETF (EZBC) has been lowered from 0.29% to 0.19%, as per a document submitted on Friday to the Securities and Exchange Commission (SEC).Franklin Templeton’s 10 basis-point drop makes its fund’s fee the lowest, replacing that of Bitwise, which charges 0.2%. Till Aug. 2, 2024, the fund manager will also waive off fees for its ETF till the fund hits assets under management (AUM) of $10 billion.A number of providers promptly lowered their prices after first disclosing them on Monday, perhaps anticipating the imminent competition for market share that would ensue upon approval of the funds. Bitcoin ETFs clocked around $4.6 billion in trading activity on Thursday, with Franklin Templeton responsible for about $65 million of the total sum.