Tag: Cryptocurrency
UK makes Travel Rule mandatory for all crypto businesses from September 1
Come September 1 and crypto asset companies operating in the United Kingdom would now have to comply with the Financial Action Task Force (FATF) rules for curbing money laundering and…
Tornado Cash case: US court upholds treasury dept’s motion for summary judgment
A US federal court dismissed a motion for partial summary judgment in a lawsuit filed by six individuals in connection with crypto mixer Tornado Cash’s inclusion in the ‘Specially Designated…
Odisha police make another arrest in $120-million STA token scam
The Economic Offences Wing of Odisha Police arrested a 45-year-old man in alleged connection with the $120-million crypto ponzi scheme involving the Solar Alliance (STA) Token. The accused was identified…
Dubai authority slaps $2.7 million fine on OPNX
Dubai’s Virtual Asset Regulatory Authority (VAR) slapped a $2.7-million fine on cryptocurrency project OPNX, that’s the brainchild of the now-defunct digital asset hedge fund company Three Arrows Capital (3AC). The…
Filecoin project hits $100-million pyramid scheme hurdle in China
A leading project powered by Filecoin has run into a legal hurdle in China where the company running the project has been accused of operating a pyramid scheme. In a…
Zimbabwe’s central bank rolls out digital tokens backed by gold
As part of its efforts to modernize its financial institutions, Zimbabwe’s central bank recently announced the launch of gold-based digital tokens that will be used for retail transactions in the…
Shiba Inu Announces the Launch of its Ethereum Layer-2 Solution, Shibarium
The cryptocurrency market is flooded with groundbreaking innovations, with each one offering a unique value proposition. These solutions focus on addressing the drawback of the legacy blockchain providing a seamless…
Sam Bankman-Fried’s Bail Revoked on Grounds of Witness Tampering
The cryptocurrency world witnesses another shocking event as New York Federal Judge, Lewis Kaplan revoked the bail of Sam Bankman-Fried last Friday, Former CEO of the collapsed cryptocurrency exchange, FTX….
Consensus Mechanism: Proof-of-Stake (PoS)
Proof-of-stake (PoS) is the second consensus mechanism after proof-of-work (PoW) adopted by cryptocurrencies like Ethereum 2.0. Under the PoS consensus protocol, the validators are chosen based on the number of…
Binance Labs to invest $5 million to buy Curve DAO tokens
In a fresh development, crypto exchange Binance’s venture capital and incubator arm Binance Labs will be investing $5 million in Curve DAO (CRV) tokens. The move will see Curve Finance…
‘Jolt’ and ‘Lasso’ mark VC Firm a16z’s foray into crypto tech research
Venture capital firm Andreessen Horowitz (a16z) has rolled out two new software projects that are aimed at boosting the core technology powering zero-knowledge (ZK) proofs, that are driving some of…
Ripple Lab’s Victory as SEC Removes its Native Token, XRP from the Security List
The recent news marks an end to the historic legal battle between Ripple Labs and US Security and Exchange Commission (SEC). This three years long legal proceeding has come to…
Circle’s ‘programmable wallets’ to make crypto payments more accessible for businesses
Circle Internet Financial, which issues the USDC stablecoin, announced that it would be rolling out new ‘programmable wallets” which would make cryptocurrency-based payments more accessible for businesses. In a release…
PayPal Announces the Launch of its Stablecoin, PYUSD
The cryptocurrency market witnesses the influx of several new coins aiming to revolutionize the world of decentralized finance (DeFi). In light of this, the recent news of Paypal launching its…
HashKey bags first crypto retail trading license in Hong Kong
Leading crypto financial services group HashKey Exchange became the first enterprise to be granted a crypto trading license under Hong Kong’s new licensing regulations. The new license would enable the…
Consensus Mechanism: Proof of Work (PoW)
In general, consensus refers to the collective agreement of a majority within a group indicating that they support a particular decision. Within the realm of blockchain, consensus mechanisms serve as…
Kenya Suspends Worldcoin Operations over Financial Security and Privacy Concerns
In a recent development, Kenya’s Ministry of the Interior has taken a bold move of suspending the operations of Worldcoin within its jurisdiction. Worldcoin is an identity crypto protocol founded…
LeetSwap Announces the Halt on the Trading Activities Amid Fears of an Exploit
The world of decentralized finance has brought enormous technological advancements in the traditional financial system. However, the innovation it brings to the world is also subjected to some amount of…
FTX Announces Restructuring Plan with an Aim to Reboot Offshore Exchange
In the rapidly changing world of cryptocurrencies, the major industry players witness several challenges and opportunities. In this context, FTX, a leading cryptocurrency exchange has committed to a bold move…
SEC had ordered Coinbase to Delist all Cryptocurrencies Except Bitcoin
The world of cryptocurrency often finds itself battling legal turmoil. Many countries have an open approach to decentralized finance (DeFi) while others remain restrictive in their approach towards cryptocurrencies. In…