The Chairman of the Federal Reserve says he favors responsible innovation in the world of crypto assets. In a new video speech given at an international crypto conference, Fed Chair Jerome Powell details his views on various sectors of the crypto industry, including stablecoins, central bank digital currencies (CBDCs), and decentralized finance (DeFi). According to …
Monthly archives: September 2022
Anonymous makes numerous allegations against Yuga Labs and its Bored Ape Yacht Club
On Sept 26, internet hacktivist group Anonymous released a video addressing blockchain technology company Yuga Labs and its NFT-driven social club, Bored Ape Yacht Club (BAYC). The group’s statement included a laundry list of allegations regarding Yuga Lab’s alleged use of esoteric symbolism in BAYC’s art — which Anonymous believes shows the company’s support for …
UFC fighter El Ninja to become first argentinian athlete paid in crypto
Guido Cannetti, an Argentinian Ultimate Fighting Championship (UFC) fighter, is now the first martial arts athlete in the country to receive 100% of his salary in stablecoins, amid rising inflation and Argentina’s economic deteriorating, announced the crypto payroll company Bitwage on Monday. Dubbed El Ninja, he returns to the Octagon on October 1st in the …
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Tax on income you never earned? It’s possible after Ethereum’s Merge
After much buildup and preparation, the Ethereum Merge went smoothly this month. The next test will come during tax season. Cryptocurrency forks, such as Bitcoin Cash, have created headaches for investors and accountants alike in the past. While there has been progress, the United States Internal Revenue Service rules still weren’t ready for something like …
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Binance Global Law Enforcement Training Program is official after year of activities
Binance announced the existence of its Global Law Enforcement Training Program in a blogpost on Sept. 27. The creation of the program could be considered retroactive, since the company’s investigations team has been holding workshops for law enforcement for the past year. Binance expanded its investigations team a year ago, and has held one-day workshops …
‘Blockbuster’ titles could save GameFi — ABGA President
Kevin Shao, Executive President of the Asia Blockchain Gaming Alliance (ABGA) says he’s holding out hope for three “triple-A” blockchain gaming titles that could help propel GameFi into the mainstream and rescue it from the bear market. Speaking to Cointelegraph during Asia Crypto Week, the Executive President said one obstacle preventing mainstream adoption is current GameFi …
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CryptoSlate Wrapped Daily: Binance takes aim at cyber financial crime; CEL tanks after Celsius’ Alex Mashinsky resigns
The biggest news in the cryptosphere for Sept. 27 includes Binance’s new global program that aims at helping law enforcement fight cybercrime, FTX’s acquisition of the bankrupt Voyager, and Celsius CEO Alex Mashinsky’s resignation. CryptoSlate Top Stories Binance launches new program to help law enforcement fight cyber crime Binance announced the launch of its new …
Binance launches new program to help law enforcement fight cyber crime
Binance on Sept. 27 unveiled its new Global Law Enforcement Training Program, which will help law enforcement detect cyber financial crime and assist in prosecuting malicious actors. This program is the industry’s first global coordinated effort. According to the announcement, the Binance investigations team has grown exponentially over the year and is ready to share …
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Thailand’s SEC sues 5 for wash trading activities
Thailand’s Securities and Exchange Commission (SEC) is suing five entities over wash trading activities on two crypto exchanges, Bitkub and Satang corporation. According to a Sept. 27 press release from the regulator, public prosecutors have been directed to sue Bitkub and two individuals for creating artificial volume for digital assets in the exchange. The lawsuit …
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California Gov. Newsom explains veto of NY-styled BitLicense crypto business bill
California Governor Gavin Newsom on Sept. 23 overruled Assembly Bill-2269 Digital financial asset businesses: regulation – a crypto regulatory framework. AB-2269 set out specific requirements for crypto businesses, including the application for a license to operate in the state, the obligation to run a 24-hour customer service telephone line, and protections specific to the flow …
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Japan to tighten laws to prevent money laundering via crypto by May 2023
The government of Japan is looking to introduce cryptocurrency transfer rules in May 2023 to track money transfers by criminals, according to a Nikkei Asia report on Sept. 27. The government will amend the Act on Prevention of Transfer of Criminal Proceeds to crack down on money laundering via cryptocurrencies, according to the report. A …
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Nexo acquires stake in Summit National Bank to expand US offering
Nexo, a digital asset lending platform, announced that it has acquired a stake in Summit National Bank. The company now owns an unspecified stake in Hulett Bancorp, the holding company that owns the federally chartered bank. Nexo called the acquisition an “industry-changing transaction,” as it will expand Nexo’s footprint in the U.S. and enhance its …
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DeFi needs to be regulated ‘carefully and thoughtfully,’ says Fed chair Jerome Powell
U.S. Federal Reserve chair Jerome Powell urged lawmakers to be cautious when regulating decentralized finance (DeFi) while speaking at a roundtable conference organized by the central bank of France on Sept. 27. Powell said that regulation should be introduced “carefully and thoughtfully,” and that regulators have to be, “…very careful about how crypto activities are taken …
Celsius CEO Alex Mashinsky Resigns Amid Tumultuous Bankruptcy Proceedings
On Tuesday, September 27, 2022, Celsius Network CEO Alex Mashinsky submitted a letter of resignation from the company. Mashinsky added that he still plans to help the embattled crypto lender “achieve a successful reorganization.” Alex Mashinsky Resigns From Embattled Celsius — Founder Apologizes for the ‘Difficult Financial Circumstances’ After Celsius paused withdrawals on June 12, …
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Russian Exchanges Ready to Launch International Crypto Payments, Lawmaker Reveals
The largest exchanges in Russia are ready to begin operating with cryptocurrencies right after authorities legalize cross-border settlements in crypto, according to a leading member of the Russian parliament. The stock and commodity trading platforms in Moscow and St. Petersburg are working to develop this market, the high-ranking official added. Russia’s Top Exchanges Waiting for …
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