Many predicted that Binance would never embrace regulation — it would only pretend to comply in jurisdictions like the United States. No more. Binance pleading guilty to money laundering and other federal charges on Nov. 21 means it’s giving up its free-booting ways. It will also pay a $4.3 billion fine, the largest in the history of the U.S. Treasury…
The Financial Stability Board (FSB), the global body that monitors the financial services indreleased a report on Nov. 28 asserting that the crypto industry might need additional regulations to prevent another catastrophe on the scale of the FTX scandal According to the report, the FSB said the market turmoil that ensued from the collapse of cryptocurrency exchange FTX brought to…
People have lost control of their destiny — well, control of their digital identity — when navigating the online world. But with more of our interactions taking place online, it becomes increasingly vital to raise awareness of the potential dangers related to our data. Whether it’s browser data or sensitive information, our digital snail trail is frequently extrapolated and shared…
Hong Kong authorities reported on Nov. 27 that 145 users were affected in a scam by the unlicensed cryptocurrency exchange Hounax, resulting in a loss of 148 million HKD ($18.9 million), according to local media Shenzhen Commercial News. On Nov. 25, local police held an initial press conference to inform the Hounax platform of the reports. The Hong Kong Securities…
Ethereum founder Vitalik Buterin’s blog post highlighting the threats he sees that artificial intelligence (AI) could pose to humanity has attracted a slew of fiery responses from AI and blockchain community members. On Nov. 27, Buterin published a blog post titled “My techno-optimism,” which discussed how AI is “fundamentally different” from other inventions like guns, airplanes and social media. Furthermore,…
Web3 investment firm Animoca Brands is set to become the largest validator of Telegram’s TON (The Open Network) blockchain and plans to deliver blockchain-based games to the messaging app’s 800 million strong user base. An announcement shared with Cointelegraph outlined how the partnership will involve the provision of funding, research, and an analytics platform for third-party TON ecosystem applications. The…
Bitcoin (BTC), the largest cryptocurrency by market value, experienced its first-ever halving 11 years ago today. As the community celebrates the anniversary of the first Bitcoin halving, it’s timely to revisit some of Bitcoin’s historical milestones ahead of the next halving expected in April 2024. The first Bitcoin transaction occurred nearly 15 years ago on Jan. 3, 2009, a few…
BitMEX founder Arthur Hayes has argued that Binance and its former CEO Changpeng ‘CZ’ Zhao were singled out for “absurd” punishment at the hands of the U.S. legal system. In a lengthy blog post, Hayes claimed that, “the treatment of CZ and Binance is absurd,” arguing that it “highlights the arbitrary nature of punishment at the hands of the state.”…
Executives of banking giants JPMorgan Chase and Apollo revealed plans for a tokenized ‘enterprise mainnet’ formed during a collaboration on the Monetary Authority of Singapore’s (MAS) Project Guardian pilot project. On Nov. 15, the MAS introduced five additional industry pilots to Project Guardian to test various use cases around asset tokenization, which saw participation from 17 member financial institutions, including…
Spanish residents holding any crypto assets on non-Spanish platforms will have to declare them by March 31, 2024 under new laws governing the taxation of virtual assets. The Spanish Tax Agency (AEAT) has published Form 721, a tax declaration form for virtual assets abroad, first announced in the Official State Gazette on July 29, 2023. The submission period for Form…
