FTX Agrees to Sell LedgerX for $50 Million, to Seek Bankruptcy Court Approval on May 4

FTX has reached an agreement to sell its crypto derivatives platform LedgerX to an affiliate of Miami International Holdings for $50 million (roughly Rs. 400 crore), the bankrupt crypto exchange said on Tuesday. FTX will seek US bankruptcy court approval for the sale at a May 4 hearing. “We are pleased to reach this agreement … Read more

Enforcement Directorate Raids HPZ Token in Three Cities, Freezes Rs. 92 Crore: Details

The officials of the Enforcement Directorate (ED) have raided HPZ Token and frozen around Rs. 92 crores. The raids were conducted in Gurugram, Mumbai, and Bengaluru on Monday. The HPZ Token was an App-Based Token that promised users significant gains against investment by investing in mining machines for Bitcoin and other cryptocurrencies, according to ED. … Read more

European Parliament Backs EU’s First Set of Regulations for Crypto Assets; Rules to Roll Out in 2024

The European Parliament on Thursday overwhelmingly backed the European Union‘s first set of rules to regulate cryptoasset markets. Parliament voted by 517 in favour and 38 against to approve the world’s first comprehensive set of regulations for issuing and trading cryptoassets such as bitcoin. “This regulation brings a competitive advantage for the EU,” said Stefan … Read more

India, UK Discuss Crypto Assets; Focus on Robust Approach to Handling Risks and Vulnerabilities

India and the UK on Wednesday discussed international developments regarding crypto assets and emphasised the importance of robust global approaches to deal with risks attached to this. At the India-UK 2nd Financial Markets Dialogue participants from both countries provided updates on recent developments in their respective banking sectors, discussing banking trends and emerging vulnerabilities and … Read more

Digital Euro to Offer More Choice, Not a ‘Big Brother’ Project, Senior EU Official Says

A digital euro will offer choice in making payments and is not a “Big Brother” project that seeks to control people, the European Union‘s financial services commissioner Mairead McGuinness said on Wednesday. The European Central Bank has yet to decide if it will go ahead with introducing a digital euro, but McGuinness is due soon … Read more

Regulatory Action on Crypto Assets Requires Global Coordination: FM Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Thursday said that there was a greater acceptance among Group of 20 (G20) member countries that any new regulations on the crypto assets need to be globally coordinated. “I am glad to say that there is a greater acceptance among all G20 members, that any action on crypto assets … Read more

Ethereum’s Shapella Upgrade to Unlock Around $33 Billion of Staked Ether

Investors are finally set to gain access to more than $33 billion (roughly Rs. 2,70,900 crore) of ether this week under a planned revamp of the blockchain. A new software upgrade to the Ethereum blockchain, dubbed Shapella, will let market players redeem their “staked ether” – coins they have deposited and locked up on the … Read more

Binance to Close Australian Derivatives Business Amid Financial Services Licence Cancellation

Cryptocurrency exchange operator Binance will close its Australian derivatives business after relinquishing a financial services licence on Thursday amid a regulatory probe into its operations. The Australian Securities and Investment Commission (ASIC) has been conducting a “targeted review” of Binance, first confirmed in February, when Binance said it had misclassified some retail investors as wholesale. … Read more

NCB Said to Have Busted Narcotics Gang Involved in DarkNet, Cryptocurrency

The Narcotics Control Bureau (NCB) has busted an international criminal gang that dealt in drugs using DarkNet and cryptocurrency with linkages in several countries as well as multiple states in India, sources said. The bureau is carrying out operations against drug cartels under the direct supervision of Union Home Minister Amit Shah, pursuant to Prime … Read more