Crypto exchange Gemini co-founder Tyler Winklevoss called the “reset” of the crypto stance of Vice President Kamala Harris a “scam” in an X post on Friday, amid the Federal Reserve’s crackdown. Winklevoss’ post comes a day after he slammed Harris for not attending the roundtable discussion with crypto leaders on Aug 8. In the post, …
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Russian President Vladimir Putin has enacted legislation to formally regulate the cryptocurrency mining sector in Russia, with the law set to take effect in November. This legislation establishes a regulated framework for mining operations, limiting participation from entities associated with electricity and prohibiting the promotion of cryptocurrencies. It also allows the circulation of mined cryptocurrency …
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The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF recommendations and seeks to control and avoid criminals to use these platforms for illicit purposes. …
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Economist Art Laffer, known for his work on supply-side economics, has expressed concerns over the future of the U.S. dollar in a recent interview. Laffer argues that current U.S. economic policies are leading to the dollar’s decline, making it less attractive as a global reserve currency. Laffer Warns of U.S. Dollar Decline Amid Economic Policy …
Over the past week, there’s been a buzz among market watchers about solana’s performance against BTC, especially when compared to ether. Since the year kicked off, ether has tumbled over 20% against the leading cryptocurrency, while solana has gained more than 5%. Solana, Ethereum, and Bitcoin — Dominance Competition Heats Up Among Crypto Giants In …
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The U.S. Internal Revenue Service (IRS) has unveiled an updated Form 1099-DA for reporting digital asset transactions, introducing key changes that may address past criticism and privacy issues. This new version, reportedly set to be partially implemented in 2025, removes several contentious elements from earlier drafts. IRS Revamps Crypto Reporting Form On Aug. 8, 2024, …
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JP Morgan just rolled out ChatGPT to 60,000 employees, demonstrating the demand for generative AI in the financial services sector.
Ripple has kicked off beta testing for its new dollar-pegged stablecoin, Ripple USD (RLUSD), on the XRP Ledger and the Ethereum (ETH) mainnet. The San Francisco payments company notes Ripple USD is not yet available for purchase and is still subject to regulatory approval. The firm says the stablecoin will be fully backed by cash …
The Treasury Department is beginning to buy tens of billions of dollars in US bonds in a push to bolster the market. In a series of announcements, the department details its $50 billion buyback operation, which started on August 7th and will last until October 31st. The agency is looking to buy both short and …
Indian crypto exchange WazirX is reversing all trades and restoring customer balances after the platform was hacked to the tune of hundreds of millions of dollars in July. In a new thread on the social media platform X, WazirX says that after listening to the community, it has decided to roll back all trades made …
The assets in question were evidently given to Tether as collateral.
The Commodity Futures Trading Commission (CFTC) paid a whistleblower more than $1 million for informing the regulator about “improper trading” related to the crypto market. The CFTC notes the whistleblower’s information led to an enforcement action. Ian McGinley, the regulator’s director of enforcement, says the majority of the CFTC’s whistleblower tips in the past fiscal …
JPMorgan Chase, Bank of America, Wells Fargo and other unnamed large banks are reportedly facing a federal investigation over scams and fraud on the billion-dollar instant payments platform Zelle. The Consumer Financial Protection Bureau (CFPB) is probing how the banks handle disputed transactions on the network, reports the Wall Street Journal. The agency is responding …
The following is a guest post from Shane Neagle, Editor In Chief from The Tokenist. When the Federal Reserve tampered with the money supply in 2020, by giving it a ~40% boost, everyone has been paying the cost of that tampering via inflation. In turn, people’s life energy is siphoned away as their savings are …
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During Friday’s trading sessions, U.S. spot bitcoin and ethereum exchange-traded funds (ETFs) experienced significant outflows, with $89.73 million exiting the BTC ETFs and $15.71 million flowing out of the ETH ETFs. Bitcoin and Ethereum ETFs See Reductions Data from sosovalue.xyz revealed that the 12 spot bitcoin ETFs collectively saw $89.73 million in outflows on Friday, …
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