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Indian Exchanges Volumes Slump Further Following Recent Crypto Tax

July 5, 2022 Uncategorized Eddy 0

In the wake of major Indian exchanges witnessing drastic drops in trading volume since the 30% tax on obtained revenues came into effect on April 1, the industry now encounters additional downward pressure following the introduction of another new tax that kicked in last Friday. Trading volume on large platforms has been down roughly 95% […]

Circle Taps New York Community Bank as its Latest Custodian for USDC Reserves

July 3, 2022 AA News, Banks, Circle, Crypto News, Stablecoins Eddy 0

Circle has tapped a New York state-based community bank as its latest custodial provider for USDC reserves. The move reflects Circle’s strategy to deepen partnerships with Community Banks across the U.S., attempting to make payments more inclusive to underserved communities. Under the new agreement, New York Community Bancorp’s bank subsidiary, New York Community Bank, will […]

US Millennials Own More Crypto Than Mutual Funds: Survey

July 3, 2022 AA News, Crypto News, social, Survey, United States Eddy 0

According to a research conducted by the investing firm Alto, 40% of the American millennials (those aged 26-41) hold cryptocurrencies. Nearly the same share of people own individual stocks, the survey estimated. Millennials and Their Affinity for Crypto The poll further informed that more US millennials had distributed some of their wealth into crypto than […]

US and UK Set to Team Up Regulating Cryptocurrencies

July 3, 2022 AA News, CBDC, Crypto News, social, Stablecoins, United Kingdom, United States Eddy 0

Her Majesty’s Treasury hosted the regulatory pillar of the US-UK Financial Innovation Partnership with its counterpart, the US Treasury Department, on Jun 29th. Both parties acknowledged the importance of teaming up to support safe innovation and strengthen regulatory outcomes for digital assets across jurisdictions. On Stablecoins According to the joint statement issued, top domestic watchdogs […]

Meta to Shut Down Digital Wallet Novi Less Than a Year After its Launch

July 3, 2022 Uncategorized Eddy 0

The Novi digital wallet will be shut down on September 1, announced the company behind the project – Meta (formerly Facebook). This comes after years of regulatory scrutiny and unsuccessful launch attempts. The initial idea, started in June 2019, saw several company executives setting up a digital wallet (called Libra at the time) that wanted […]

Ripple Launches $197,000 Hackathon for CBDC Interoperability and Financial Inclusion

July 2, 2022 Uncategorized Eddy 0

San Francisco-based enterprise blockchain provider Ripple has launched a central bank digital currency hackathon with a total prize pool of $197,000 to promote the development of solutions for retail CBDCs, financial inclusion, and interoperability. Ripple Launches CBDC Contest The event, dubbed CBDC Innovate, will allow developers to build applications that run on Ripple’s decentralized, open-source […]

North Korea Leads the World in Crypto Crime (Report)

July 2, 2022 Uncategorized Eddy 0

According to Coincub, the country has over 15 documented instances of crypto crime, with proceeds conservatively estimated at $1.59 billion. The other top four countries closely following the hermit kingdom are the US, Russia, China, and the UK. North Korea Reigns Supreme Even though the true extent of North Korea’s contribution to global crypto crime […]

DNS Hijack Compromised Ankr’s Services for Polygon and Fantom

July 2, 2022 AA News, Crypto News, Crypto Scams, Polygon (MATIC) Eddy 0

Web3 infrastructure firm Ankr is known for offering node endpoints, staking services, and other products to proof-of-stake blockchains. On Friday, a hacker forfeited a scam-like pop-up on Polygon and Fantom network by hijacking Ankr’s domain name system (DNS) to steal users’ seed phases. The project soon recovered the human-made errors and stated that no funds […]

3AC Files for Bankruptcy as Voyager Digital Suspends Withdrawals

July 2, 2022 AA News, Crypto News, social, Three Arrows Capital Eddy 0

A Chapter 15 bankruptcy is a move that protects a firm’s U.S. assets while liquidation is carried out in the British Virgin Islands. Additionally, it prevents creditors from seizing assets in the United States and is applicable for insolvency proceedings involving more than one country. According to Bloomberg, three representatives of the Singapore-based crypto hedge […]

DOJ Indicts 6 People in 4 Crypto Scams Including Baller Ape NFT Rug-Pull

July 2, 2022 AA News, Crypto News, Crypto Scams, nft, social, United States Eddy 0

The US Department of Justice (DOJ) has indicted 6 people in 4 different cases of cryptocurrency frauds, including Baller Ape NFT rug-pull, worth nearly $130 million. Baller Ape NFT Scam According to a release from the agency, Vietnamese national Le Anh Tuan, 26, pulled down the website and fled with investors’ money after the first-day public […]

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