The formation of the Blockchain Security Standards Council (BSSC) by industry giants like Kraken, Coinbase, and Fireblocks is a significant step towards enhancing security within the crypto sector. The aim of this nonprofit organization is to establish uniform security standards across the industry to address pressing security threats such as fraud, cyberattacks, and protocol exploitation.
Exchanges
The Markets in Crypto-Assets (MiCA) regulation introduced by the EU has sent shockwaves throughout the digital asset market. This new regulation is not only affecting companies within the EU but is also having a global impact on firms involved in Euro transactions. With stablecoin rules already in effect since June, companies are scrambling to adapt
The sentencing dates for senior FTX executives Gary Wang and Nishad Singh have been scheduled for later this year, according to a court docket dated July 9th. Wang, the former Chief Technology Officer and co-founder of the now-defunct exchange, is set to be sentenced on November 30th. Meanwhile, Singh, who served as the former engineering
Paxful Inc. co-founder and former CTO Artur Schaback recently pleaded guilty to conspiracy charges related to the failure to maintain an effective anti-money laundering (AML) program. This negligence, as stated by the Department of Justice, turned Paxful into a hub for various criminal activities such as money laundering, sanctions violations, fraud, romance scams, extortion schemes,
The deputy director of the Central Bank of Nigeria (CBN), Olubukola Akinwumi, recently accused Binance of engaging in transactions that are typically reserved for authorized banks and financial institutions. This accusation came to light during Akinwumi’s testimony in a lawsuit brought forward by the Economic and Financial Crimes Commission (EFCC) against Binance and its executive,
Taiwan Mobile, the second-largest telecom operator in Taiwan, has recently made a significant move by applying for a license to operate as a Virtual Asset Service Provider (VASP). This decision has been confirmed by the Financial Supervisory Commission, listing Taiwan Mobile as the 26th VASP in the country. With Lin Zhichen named as the person
Recently, Binance.US, the American branch of the global cryptocurrency exchange Binance, faced a setback in its legal battle with the Securities and Exchange Commission (SEC). Despite its efforts to dismiss the SEC’s allegations, the US District Court ruled in favor of the SEC, allowing the case to move forward. This decision came after the Court
Sony Group, a prominent conglomerate in Japan, has recently acquired Amber Japan, leading to the launch of a new crypto exchange. The WhaleFin exchange, now renamed S.BLOX Co, will undergo a redesign of its UI screen and the release of a new app to enhance user experience. Sony plans to expand the supported currencies and
Jesse Powell, the founder of Kraken, made headlines recently with his $1 million donation, mainly in Ethereum, to support former President Donald Trump’s re-election bid. Powell stated that his donation aimed to help the US maintain its leadership in blockchain technology. He expressed his excitement to unite with other leaders in the crypto community to
FTX, a prominent cryptocurrency exchange, recently received approval from a US bankruptcy court to proceed with a liquidation plan that involves settling customer claims in cash. This decision has sparked controversy among customers who are dissatisfied with the proposed payment amounts based on crypto prices at the time of FTX’s collapse in November 2022. Despite
