The legal team for Alexander Vinnik, a Russian national recently extradited to the United States for his alleged role at defunct crypto exchange BTC-e, has reportedly been urging officials to consider a prisoner swap. According to a Monday report from Reuters, a lawyer representing Vinnik called on Russian foreign minister Sergey Lavrov to conduct negotiations with U.S. officials to bring the…
Russia’s Finance Ministry has reportedly begun working with the governments of “friendly” nations to establish a cross-border stablecoin-based payments platform. According to a Tuesday report from Russia state-owned news agency TASS, deputy finance minister Alexey Moiseev said the government was looking to create the settlement platform in an effort to avoid the use of U.S. dollars and euros. The finance…
The Saudi Arabian central bank has reportedly appointed Mohsen Al Zahrani as the lead of the bank’s virtual assets and digital currency project. The emergence of the United Arab Emirates (UAE) as the regional crypto hub is believed to have forced authorities in Saudi Arabia to consider formally regulating cryptocurrencies. Saudi Arabia’s Changing Position on Crypto According to a report,…
The International Monetary Fund (IMF) published a report stating that crypto assets have gained a “more mainstream presence as speculative investments, hedges against weak currencies, and potential payment instruments.” The IMF has called for a global response to crypto regulation that is coordinated, consistent, and comprehensive. IMF Officials on Crypto Regulation, Mainstream Adoption The International Monetary Fund (IMF) published a…
Liz Truss, Britain’s new prime minister, previously said: “We should welcome cryptocurrencies in a way that doesn’t constrain their potential.” Truss beat former Chancellor of the Exchequer Rishi Sunak, who had a plan to make the U.K. a crypto-friendly nation. Liz Truss Becomes Britain’s New Prime Minister Liz Truss has won the race to become the new U.K. prime minister,…
Mark Alexander Hopkins, also known by the moniker ‘Doctor Bitcoin’ or their handle Rizzn, has claimed that “transacting Bitcoin p2p is a federal crime” after announcing the sentence in their case to social media followers. In a Sunday Twitter thread, Hopkins said that they were facing between 6 to 15 months at a federal correctional institution in Texas following a…
The United Kingdom’s Financial Reporting Council has reportedly found flaws in the audit of cryptocurrency-friendly payments app Revolut tha included an “unacceptably high” risk of “material misstatement.” According to a Monday report from the Financial Times, the U.K. Financial Reporting Council criticized the results of a Revolut audit released in July by accountancy and business advisory firm BDO, claiming the…
After a race to be the next leader of the Conservative Party, Secretary of State for foreign, commonwealth and development affairs Liz Truss has defeated former chancellor of the exchequer Rishi Sunak to become the next prime minister of the United Kingdom. Boris Johnson, who served as the U.K. prime minister since 2019, will be on his way out of…
The government of Iran has reportedly started issuing licenses to crypto miners under the new “comprehensive and detailed” regulatory framework approved last week. The authorities previously issued licenses to a number of crypto mining operations but halted the process due to power consumption and illegal mining issues. Iran Resumes Issuing Licenses to Crypto Miners The Iranian government approved a set…
U.S. Representative Brad Sherman says Congress has not banned crypto because “there’s too much money and power behind it.” He elaborated: “Money for lobbying and money for campaign contributions works, or people wouldn’t do it, and that’s why we haven’t banned crypto.” US Lawmaker on Regulation and Why Congress Won’t Ban Crypto Congressman Brad Sherman (D-CA) shared his views on…
