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2022-12-12 06:57:02 United Kingdom Aims to Establish Regulatory Environment for Stablecoin Payments.

The United Kingdom HM treasury is committed to establishing a safe framework for the use of stablecoins. The FSM Bill plans to regulate crypto assets. Majesty’s treasury which is the government’s economic and financial treasury.

Further, the government wants to empower the Financial Conduct Authority (FCA) through regulations. FCA would take measures like restricting foreign companies and limiting crypto advertising. They plan to protect consumers from fraud, mismanagement, and false advertising with regulations. But, the community believes that the restriction on advertising will result in lower.

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2022-12-11 10:54:02 Crypto.com releases proof-of-reserves study conducted by Mazars

Crypto.com released a proof-of-reserves study it says enables users to verify that their assets are fully backed.The process was conducted by Mazars Group, which compared assets held in an on-chain address proven to be controlled by Crypto.com with customer balances.

The exchange will allow users to self-verify funds by visiting a webpage. "Providing audited Proof of Reserves is an important step for the entire industry to increase transparency and begin the process of restoring trust," CEO Kris Marszalek said in a statement. when it reported exposure of about $10 million to the collapsed FTX exchange.

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2022-12-10 08:15:03 PayPal expands crypto services to Luxembourg

Payments giant PayPal will allow customers in Luxembourg to buy, sell and hold Bitcoin, Ethereum, Litecoin and Bitcoin Cash in their accounts. In June, the company rolled out new features allowing users to transfer crypto between PayPal and other wallets.

Adding the ability to transfer, send, and receive cryptocurrencies is another step in our journey to building a more inclusive and effective financial system,” said Jose Fernandez da Ponte, SVP and GM of blockchain, crypto and digital currencies at PayPal. PayPal launched into the crypto business first in the U.S. in 2020, later expanding into the UK in 2021.

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2022-12-09 10:36:03 Mastercard executive sees FTX collapse as 'time to reset' for crypto: TechCrunch

The crypto industry will experience a reset following the chaos of the FTX collapse, said Grace Berkery, Mastercard’s director of startup engagement. Grace Berkery, director of startup engagement at the payment processing firm Mastercard, thinks the collapse of FTX will ultimately be a positive for the industry.

Mastercard itself has built tools for better crypto compliance, rolling out Crypto Secure in October. The platform uses artificial intelligence to monitor crypto exchange-related risks in Mastercard's pay flow, The Block reported previously. . “At Mastercard, we believe there’s a lot of promise in the underlying technology. There’s a lot happening in the space.”

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2022-12-08 11:18:02 Sam Bankman-Fried hires white-collar attorney who represented Ghislaine Maxwell

Sam Bankman-Fried is lawyering up (again) after his crypto exchange came crashing down. The former FTX CEO hired white-collar attorney Mark Cohen, a spokesperson for Bankman-Fried confirmed. The news was first reported by Reuters.

The disgraced ex-CEO parted ways with Paul, Weiss, Rifkind, Wharton & Garrison in November and later reportedly brought on David Mills and Gregory Joseph. Bankman-Fried’s latest move comes as regulators investigate the collapse of FTX, which filed for bankruptcy protection last month after a run on its native utility token, and Bankman-Fried stepped down as CEO.

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2022-12-07 05:55:03 Judge signs off on subpoenas to 3AC's Su Zhu and Kyle Davies

A federal bankruptcy judge approved subpoenas for the founders of Three Arrows Capital, a Singapore-based crypto hedge fund that went belly up earlier this year. The subpoenas call on the 3AC founders and leaders Su Zhu and Kyle Davies to produce all financial information on the company.

Under the subpoena, Zhu, Davies, and other individuals named must produce private keys, seed phrases, and any other means of accessing or controlling fiat assets and digital assets. The hedge fund is in Chapter 15 bankruptcy proceedings in the Southern District of New York's Bankruptcy Court as well as the British Virgin Islands, where the fund was incorporated in May 2021.

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2022-12-06 05:20:03 Bernie Madoff’s Lawyer advises FTX’s Bankman-Fried to ‘shut up’

Following the collapse of the FTX crypto exchange, the platform’s founder Sam Bankman-Fried (SBF), has embarked on a media tour attempting to explain what went wrong. However, Bankman-Fried has been warned regarding the approach.

In particular, Ira Sorkin, the lawyer who represented Bernie Madoff, who perpetrated the largest individual Ponzi Scheme, has urged Bankman-Fried to ‘shut up’ as a probe into the collapse continues, Bloomberg reported on December 2. Bankman-Fried media tour will have little impact on swaying public opinion over his alleged role in the FTX debacle.

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2022-12-05 11:14:02 Russia’s Sber Bank Aims for Blockchain Integration With Ethereum and Metamask

Banking giant Sber wants to integrate its blockchain platform with the Ethereum blockchain and the Metamask wallet. The Russian bank believes the integration will give developers more options and create new opportunities for users when in operations with tokens and smart contracts.

The blockchain platform developed by Sber, Russia’s largest bank, will be technologically compatible with Ethereum, the world’s largest decentralized finance (defi) ecosystem. The financial institution made the announcement during an international meeting with members of the blockchain industry. own blockchain and open blockchain networks.

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2022-12-04 05:35:06 South Korean judge dismisses arrest warrants for Terra co-founder Do Kwon's former associates

Judge Hong Jin-Pyo reportedly said there was little risk of Shin Hyun-seong or other Terra associates destroying evidence related to the case against the platform. A judge with the Seoul Southern District Court has reportedly set aside arrest warrants for Terra co-founder Shin Hyun-seong.

According to an Dec. 3 report from South Korea’s Yonhap News Agency, Judge Hong Jin-Pyo said there was little risk of Shin or the Terra associates destroying evidence related to the case against the crypto firm, and dismissed warrants that the Seoul Southern District Prosecutors Office issued on Nov. 29. The report added that Terra co-founder Do Kwon, also facing legal action in South Korea for his role in the firm’s collapse, was unlikely to return to the country.

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2022-12-03 11:12:02 Bitmex to allow depositors to self-verify liabilities

Bitmex launched a system that will allow all depositors to self-verify their liabilities in the crypto exchange's total liability balance sheet. The update accompanies Bitmex snapshots of reserves and liabilities that are published every Tuesday and Thursday.

To self-verify liabilities on Bitmex, users must download the latest liability snapshot and install an open-source tool from GitHub. The tool can be run from the Terminal application on Mac or Linux via a short series of commands. Bitmex depositors also have their nonces, arbitrary numbers allowing cross-references against the exchange's published liabilities, available on their individual "My Account" pages.

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