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2022-12-01 03:14:02 Brazil's long-awaited crypto bill inches to the finish line after seven years

After a series of legislative twists and turns spanning seven years, Brazil's long-awaited crypto bill could finally reach the president's desk. Brazil's Chamber of Deputies voted on Tuesday to pass on a crypto regulation bill to Brazil's president, Jair Bolsonaro, whose term ends on Dec. 31. The crypto regulation is to define digital assets and their service providers, as well as help guard against money laundering and fraud. The bill gained momentum after Brazil's Senate approved a version of it in April, but slowed in the past few months as it sat in the Chamber of Deputies awaiting a decision after several points in the Senate version were stripped out.

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2022-11-30 21:14:03 Kraken settles Iran sanctions violations with U.S. Treasury

Crypto exchange Kraken agreed to settle with the Treasury Department's Office of Foreign Assets Control over the firm’s apparent violations of sanctions against Iran. Kraken, which voluntarily disclosed the violations, has agreed to pay $362,000. The settlement marks the fourth time OFAC has settled with a crypto firm, following agreements with BitGo, Inc., BitPay, Inc., and Bittrex, Inc. OFAC is a sanctions office within the U.S. Treasury Department. For several years, Kraken processed $1.7 million in transactions for users who appeared to be located in Iran. The 826 transactions occurred between October 2015.

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2022-11-30 15:03:02 Aptos Labs partners with MoonPay for Petra wallet integration

Aptos, the Layer 1 blockchain, is partnering with web3 fintech firm MoonPay through an integration with Petra, the crypto wallet built by Aptos Labs. The partnership will make it easier for users to recruit into the Aptos ecosystem through MoonPay's offerings. Aptos has been one of the buzziest projects in crypto this year. It was co-founded by Mo Shaikh and Avery Ching, both of whom previously worked on Meta’s Diem project. The chain uses Move, a programming language that builds on top of Rust — the language used on the Solana blockchain. Move was developed by Meta for the Diem project.

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2022-11-30 09:14:01 MakerDAO is voting on increasing yield for the dai stablecoin

MakerDAO's governance forum is voting on increasing the dai (DAI) savings rate (DSR), which is the rate of interest the protocol pays to dai stakers. The DAO members are voting on whether to increase the current yield rate of 0.01% to one of four rates — 1%, 0.75%, 0.5% and 0.25%. According to a proposal made by the MakerDAO Open Market Committee. Voters can also vote to keep the current yield of 0.01% or abstain from the proposal altogether. At the time of publication, 99.7% votes were in favor of raising the rate to 1%, though the outcome could change as more votes come in. The vote is expected to finish on Dec. 1.

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2022-11-28 03:03:00 Putin calls for blockchain-based international payment system

The Russian President criticized Western's sanctions and urged for a system "independent of external interference". Russian President Vladimir Putin criticized monopoly in global financial payment systems and called for an independent and blockchain-based settlement network on Nov 24. Putin also noted that global payments and nations are at risk due to tense relations between Russia and the West following Ukraine's invasion, labeling sanctions imposed by countries as "illegitimate restrictions". Another recent development, a bill was introduced into the Russian State Duma, the lower house of parliament, on Nov. 17 legalizing cryptocurrency mining and the sale of the cryptocurrency mined , laying down a legal framework for a national exchange.

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2022-11-27 21:14:00 El Salvador President Bukele Launches Special Agency to Handle All Things Bitcoin

El Salvador has become the global face of Bitcoin adoption. It has been over a year since the Central American country adopted Bitcoin as a legal tender. The country has been buying one Bitcoin per day since Nov. 18. On Wednesday, El Salvador introduced a digital asset issuance bill for crypto adoption. According to a LinkedIn post by Torres Legal, the government of El Salvador created the National Bitcoin Office (ONBTC) to manage all things related to cryptocurrency. Torres Legal is a group of lawyers with business and financial trading operating in El Salvador. The President of El Salvador and the Ministry of Tourism signed the creation of the entity through Decree No. 49, published in the Official Gazette of Nov. 17.

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2022-11-27 17:14:02 Turkey to Confiscate ‘Suspicious’ Assets Related to FTX: Report

Turkey’s MASAK is willing to seize assets associated with FTX and launch an investigation against SBF. The Financial Crimes Investigation Board of Turkey (MASAK) seeks to seize “suspicious” assets linked to the battered cryptocurrency exchange FTX. The Turkish agency sought a greenglight from the Istanbul Chief Public Prosecutor’s Office to launch a thorough inspection on FTX and its dubious activities over the years. The entity vowed to confiscate “suspicious” assets related to the platform should the regulators give their approval. MASAK is also willing to examine the actions of Bankman-Fried and determine his role.

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2022-11-27 13:25:02 MakerDAO Disposes of renBTC as Stablecoin Collateral

MakerDAO – the issuer of the decentralized stablecoin DAI – unanimously passed a proposal this week to remove renBTC as a form of reserve collateral. The Bitcoin-pegged token was deemed too risky to hold exposure to in light of its connections to the now-bankrupt trading desk Alameda Research. As announced by MakerDAO over Twitter on Thursday, Maker’s governance voted to offboard the RENBTC-A Vault type in a governance poll that opened on Monday.“Considering the acquisition of the Ren project by Alameda Research and the recent bankruptcy of the latter, the Ren development team disabled the Ren network mints,” said Maker. Ren 1.0 network, it said, will shut down within 30 days after November 18th.

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2022-11-27 03:14:01 Binance’s Zhao says industry is ‘healthier’ after a ‘nasty’ year

Binance CEO Chanpeng Zhao said the industry is in a "healthier" place after a "nasty" 2022, and he expects better things in 2023. He declined, however, to make any specific predictions. "The trick for us is to monitor the industry and then whatever is trending we try to support it," Zhao said. The CEO, who launched a recovery fund for troubled crypto companies in the wake of FTX's collapse, did not mince words when it came to his former competitor. Binance earlier today released its proof-of-reserves system, starting with bitcoin, in order to show that the exchange is healthy and solvent. For bitcoin, Binance has provided a snapshot of account balances and the exchange's bitcoin reserves

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2022-11-26 21:14:02 Binance clarifies initial $1 billion recovery fund deposit came from own assets

Crypto exchange Binance clarified that an initial $1 billion deposit to its crypto industry recovery fund came from its own assets after details of the transferring wallet raised questions among some commentators on Twitter. On-chain transactions show the funds came from one of Binance's cold wallets for BUSD, the exchange's dollar-pegged stablecoin. This wallet was recently listed in Binance's proof of funds documentation, which shows all the cold and hot wallets the exchange owns as part of a transparency push following this month's collapse of rival crypto exchange FTX.

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