Cryptocurrency news
Singapore Central Bank Censures 3AC for Misleading and False Disclosures
Singapore's central bank, the Monetary Authority of Singapore (MAS), reprimanded embattled hedge fund Three Arrows Capital (3AC) for misleading it with false information. MAS said the fund failed to disclose ownership information and exceeded the threshold set for assets under...
EU officials reach agreement on AML authority for supervising crypto firms
The European Council has reached an agreement to form an anti-money laundering body that will have the authority to supervise certain crypto asset service providers, or CASPs. In a Wednesday announcement, the council said it had agreed on a partial position of a proposal...
Argentina's Customs Office Seizes $21M in Crypto Mining Equipment
Argentina’s customs office seized 2,233 crypto mining rigs that it claims were improperly invoiced at about $5 million more than their actual value, reported newspaper Ámbito Financiero. According to a complaint filed by the agency on Thursday, the machines were val...
US Banking Watchdog Says Crypto Turmoil Reinforces Cautious Approach
Michael Hsu, acting chief of the Office of the Comptroller of the Currency (OCC), said the recent fireworks in the crypto industry have further cemented his resistance to allowing lenders unfettered exposure to the digital assets markets. Hsu is one of the top U.S. banking regul...
2022 bear market has been the worst on record — Glassnode
Several factors have contributed to making the current crypto bear market the worst ever recorded as most Bitcoin traders are underwater and continue to sell at a loss, according to Glassnode. Blockchain analysis firm Glassnode’s June 24 report titled A Bear of His...
Singapore Will Crack Down on Bad Crypto Behavior
Singapore's central bank will be "brutal and unrelentingly hard" on bad behavior in the crypto industry, the chief fintech officer at the Monetary Authority of Singapore told the Financial Times. In an interview with the newspaper, Sopnendu Mohanty said Singapore has enforced...
Meta set to begin testing NFTs on Instagram Stories with Spark AR
Instagram's parent company, Meta, announced Wednesday that it will begin testing NFTs on Instagram Stories using its augmented reality platform Spark AR. CEO Mark Zuckerberg said of the news, “We're expanding our test so more creators around the world can display t...
BIS compares projects to transfer central bank digital currencies across borders
The Bank of International Settlements (BIS) Innovation Hub released a report Tuesday looking at four projects that examined wholesale central bank digital currency (CBDC) transfers across borders. The projects demonstrated the technical feasibility of the transfers, the BIS found...
Iranian government to cut power supply for the country's legal crypto mining rigs
According to local news outlet Arz Digital, the day prior, Rajabi Mashhadi, a spokesperson for Iran's Ministry of Energy, said that the entity would be cutting the power supply to all of the country's licensed crypto mining firms by the beginning of July. Citing an antic...
Elon Musk’s support for Dogecoin grows stronger following $258B lawsuit
Not even a $258 billion class-action lawsuit alleging a crypto pyramid scheme could stop Elon Musk from publicly displaying his continued support for Dogecoin (DOGE). On Thursday, a New York district court received a class action complaint against the world’s riche...