Regulation
BTC-e founder admits guilt in $9 billion laundering conspiracy
Alexander Vinnik, a Russian national and co-founder of the cryptocurrency exchange BTC-e, has pleaded guilty to a significant money laundering conspiracy related to the exchange’s operations. This admission comes after a comprehensive investigation uncovered various illicit activities carried out on the platform between 2011 and 2017. The United States Justice Department (DOJ) reported that during […]
Custodia Bank submits appeal notice in Federal Reserve case
Custodia Bank, a financial institution focused on providing account services for crypto firms, has taken legal action by filing a notice of appeal with the United States Tenth Circuit Court of Appeals. The move comes in response to a decision made by Judge Scott Skavdahl of the District Court for the District of Wyoming in […]
Terraform Labs & Do Kwon found liable for fraud in SEC Lawsuit
In a significant development in cryptocurrencies, a jury in the United States District Court for the Southern District of New York found Terraform Labs and Do Kwon liable for defrauding investors in crypto asset securities. In an April 5 announcement, SEC Enforcement Director Gurbir Grewal said jurors in the U.S. District Court for the Southern […]
HashKey OTC Secures Major Payment Institution License
In a historic event for the cryptocurrency sector, Hong Kong-based HashKey Group’s over-the-counter division, HashKey OTC, has received a Major Payment Institution license from the Monetary Authority of Singapore (MAS). Announced on February 28, this crucial milestone brings to light the crypto industry’s renewed emphasis on regulatory compliance, given global regulatory scrutiny during this period. HashKey […]
Japan Abolishes Corporate Tax On Unrealized Crypto Profits
The Japanese government has approved a tax reform that will provide favorable conditions for companies holding cryptocurrencies. An amendment to fiscal 2024 taxation laws will exempt companies from paying tax on “unrealized gains” on third-party digital tokens like Bitcoin (BTC). According to local reports, Japan’s government disclosed the new tax reform on December 22 following […]
Turkey’s President Appoints Crypto Expert To Monetary Policy Committee
The president of Turkey, Recep Tayyip Erdoğan, has reportedly appointed crypto and blockchain expert Prof. Dr. Fatma Özkul to the central bank’s monetary body. A decree nominating Özkul was released on December 22, according to Bloomberg. Özkul has been a faculty member at Marmara University Faculty of Business Administration, Department of Accounting and Finance since […]
Binance Guilt Admission Sought by SEC in Own Case
Binance Holdings and its former CEO, Changpeng Zhao, have responded to the United States Securities and Exchange Commission’s (SEC) attempt to include Binance’s admission of guilt to the Department of Justice (DOJ) in the ongoing legal proceedings on December 12, 2023. Binance Rejects SEC’s $4.3B Claim: Legal Showdown Unfolds In a filing submitted to the […]
Blockchain Bill Clears Committee Hurdle with Unanimous U.S. House Support
The US Congress Committee on Energy and Commerce has endorsed blockchain bill Deploying American Blockchains Act of 2023. Should it be enacted into law, the bill assigns Gina Raimondo, the commerce secretary, responsible for improving U.S. competitiveness in blockchain technology applications. On December 5, the committee unanimously voted 46-0 in favor of the proposal with […]
Japan Embraces USDC and Web3 in Milestone Agreement with Circle
In a significant move, Circle and SBI Holdings have joined forces to introduce USDC and Web3 services in Japan. The agreement, sealed on Nov. 27 through a memorandum of understanding, hinges on SBI Holdings registering as an electronic payment instruments service provider in the country. Circle and SBI Holdings are joining forces to boost $USDC […]