The network of rules, statutes, and legal procedures governing the cryptocurrency and blockchain businesses is collectively called “crypto regulation.” The legal standing of these businesses has been a hot topic of discussion ever since Bitcoin’s 2008 white paper. The issues facing legislators and regulators have completely changed. Some authorities have reacted negatively because they perceive cryptocurrency as threatening monetary authority. Others have embraced the sector due to its ability to connect distant economies and promote secure global commerce. However, the majority of the globe is still figuring out how to enact, oversee, and enforce the body of regulations governing such a new industry.
Users have voiced their displeasure with the policy of OpenSea, which, according to certain customers, penalizes users who have accidentally acquired previously stolen NFTs. Because of the surge in the number of fraudulent NFT transactions, Web3 platforms are increasingly being obliged to deal with the identification and management of stolen assets. OpenSea has taken the … Read more
Privacy supporters consider Crypto mixers an essential piece of equipment for maintaining anonymity. Officials in the government refer to crypto mixers as instruments of money laundering. Crypto mixers have been responsible for transferring billions of dollars worth of cryptocurrency. As a result of penalties announced by the Treasury Department against Tornado Cash, an Ethereum crypto … Read more
The Netherlands Crime Agency (FIOD) announced today that it had apprehended a “suspected developer” of Tornado Cash. Tornado Cash is the Ethereum-centric mixing service that was sanctioned by the United States Treasury earlier this week. An individual who was 29 years old was taken into custody by the FIOD in Amsterdam on August 10th. “He … Read more
The UN Conference on Trade and Development (UNCTAD) warned that cryptocurrencies are a volatile financial asset with the potential to have detrimental societal repercussions. This policy brief aims to investigate the variables that have contributed to the rapid acceptance of cryptocurrencies in developing nations. These considerations include the convenience of sending remittances as well as … Read more
Exchanges such as Binance, FTX, Huobi, and Bybi were among those that were blocked. Uzbek citizens and corporations will be required by law to conduct transactions only with approved cryptocurrency exchanges beginning on January 1, 2023. In order to conduct business within the borders of this nation, cryptocurrency mining pools, exchanges, and custodians are required … Read more
The Fight Against Tornado Cash Is Only in the beginning. This past week, the United States government delivered a devastating blow to the entirety of the cryptocurrency industry. Tornado Cash, a cryptocurrency mixer, was sanctioned by the Treasury Department, along with several crypto wallet addresses affiliated with the service. Because of this, the protocol and … Read more
Defi lending protocol Maple Finance has initiated a liquidity pool with a total value of thirty million dollars, which is supported by Maven 11, a crypto-native investment firm based in the Netherlands. Maven 11 has announced that the introduction of the lending pool will assist institutional businesses in their search for new income alternatives. Liquidity … Read more
It was announced on Wednesday that the government of Uzbekistan had restricted access to a number of large international cryptocurrency exchanges due to allegations of non-licensed activity. This comes after the government of Uzbekistan had previously made significant strides toward a more moderate approach to cryptocurrencies. In a statement dated August 10, the National Agency … Read more
It appears that the Discord server and Tornado DAO governance forum that were tied to the crypto mixing service Tornado Cash, which was recently sanctioned, have been disabled. The Office of Foreign Assets Control of the United States Treasury blacklisted Tornado Cash on Monday. Tornado Cash is a mixing tool that focuses on Ethereum transactions. … Read more
A rollout of an official digital version of the ruble is scheduled to take place over the next few years, and the Bank of Russia is continuing its efforts toward the coming implementation of the central bank digital currency (CBDC). The most recent update to the Bank of Russia’s monetary policy indicates that the regulatory … Read more