Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc’s executive has said. The global Basel Committee of banking regulators from the world’s main financial centres has set a January 2025 deadline for implementing capital requirements for … Read more
The US partner of global cryptocurrency exchange Binance has confirmed that a trading firm managed by Binance CEO Changpeng Zhao operated as a market maker on its platform. Reuters reported on Thursday that Binance had secret access to a bank account belonging to its purportedly independent US partner and transferred large sums of money from the account … Read more
Global cryptocurrency exchange Binance had secret access to a bank account belonging to its purportedly independent US partner and transferred large sums of money from the account to a trading firm managed by Binance CEO Changpeng Zhao, banking records and company messages show. Over the first three months of 2021, more than $400 million (roughly … Read more
The Securities and Exchange Commission said Thursday it has charged crypto entrepreneur Do Kwon, and the firm he co-founded called Terraform Labs, “with orchestrating a multi-billion dollar crypto asset securities fraud.” The collapse of Terraform Labs last year wiped out about $40 billion (roughly Rs. 3,31,166 crore) of investors’ money and shook global crypto markets. … Read more
Five more banks will join the pilot on the central bank digital currency or e-rupee for retail customers and the project will be extended to nine additional cities, the Reserve Bank said on Wednesday. The Reserve Bank of India, which began piloting the central bank digital currency or e-rupee for retail customers in early December … Read more
Sam Bankman-Fried is in talks with US prosecutors to resolve a dispute over the FTX cryptocurrency exchange founder’s bail conditions, his lawyer said on Thursday. The judge overseeing Bankman-Fried’s criminal fraud case in federal court in Manhattan on Wednesday temporarily barred the 30-year-old former billionaire from contacting employees of FTX or his Alameda Research hedge … Read more
The recent collapse of the crypto exchange FTX and the ensuing sell-off in the crypto markets have placed a spotlight on the vulnerabilities in the crypto ecosystem, the Economic Survey 2022-23 presented in Parliament said on Tuesday. Crypto assets are self-referential instruments and do not strictly pass the test of being a financial asset because … Read more
Bitcoin is set for its best January since 2013 on bets that monetary tightening and the crypto-sector crisis are both ebbing. The largest token is up over 40 percent since the turn of the year, a first-month gain bettered only twice before when crypto was in its infancy. Smaller coins like Solana, Axie Infinity and … Read more
Coinbase has been fined $3.5 million (roughly Rs. 30 crore) in the Netherlands. The Dutch central bank has served the crypto exchange with a legal notice for offering crypto services in Netherlands without completing the required procedures, including registration. In May 2020, the Netherlands mandated crypto-related companies to register as official money transmitters. The country … Read more
Crypto giant Binance processed almost $346 million (roughly (Rs. 2,900 crore) in Bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by US authorities last week for allegedly running a “money laundering engine,” blockchain data seen by Reuters show. The Justice Department on January 18 said it charged Bitzlato’s co-founder and majority shareholder Anatoly … Read more