After involvement by the United States Federal Trade Commission, Microsoft’s plan to acquire Activision Blizzard, which was initially intended to be used in the construction of Metaverse efforts, was met with resistance and ultimately failed (FTC). In order to encourage equitable competition in the markets for high-performance gaming consoles and subscription services, the FTC attempted … Read more
Ravi Menon, the managing director of the Monetary Authority of Singapore (MAS), stated on August 29 that Singapore intends to raise the entry hurdle into cryptocurrency trading for retail investors since these investors are “oblivious” to the risks that are connected with the activity. Menon claims that retail interest in cryptocurrencies is still quite high … Read more
According to a report from Bloomberg News dated August 24, the High Court of Singapore has given the liquidators of Three Arrows Capital, Teneo, the authority to secure and liquidate the company’s assets in the country. According to this report, Teneo is now authorized in Singapore to make requests to access assets and financial documents … Read more
The Federal Deposit Insurance Corporation (FDIC) today sent cease-and-desist letters to five cryptocurrency companies, one of which was FTX US, the U.S.-based branch of CEO Sam Bankman-cryptocurrency Fried’s exchange FTX. The other three companies were: Cryptonews.com, Cryptosec.info, SmartAsset.com, and the FDIC cover the cryptocurrency industry. On Friday, cease and desist letters were delivered to Crypto.com … Read more
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
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
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
The Crypto Council for Innovation (CCI), a crypto advocacy organization that starts conversations with governments and regulatory bodies on the advantages of crypto, has engaged two new specialists with backgrounds in American finance regulatory policy. Linda Jeng, a former employee of the Federal Reserve Board and the Treasury Department, and Brett Quick, former deputy chief … Read more
The U.S. Securities and Exchange Commission (SEC) might have avoided the loss of assets totaling $12 billion by investors who trusted Celsius. This cryptocurrency lending platform froze their deposit accounts in June, according to Senator Pat Tomey, who is well-known for his vocal support of the cryptocurrency industry. Senator Tomey is famous for his vocal … Read more