Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union’s pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc’s executive has said. The global Basel Committee of banking regulators from the world’s main financial centres has set a January 2025 deadline…
The US partner of global cryptocurrency exchange Binance has confirmed that a trading firm managed by Binance CEO Changpeng Zhao operated as a market maker on its platform. Reuters reported on Thursday that Binance had secret access to a bank account belonging to its purportedly independent US partner and transferred large sums…
Sam Bankman-Fried was blocked from using virtual private networks while out on bail, as a judge expressed concern that VPNs present similar risks to the FTX co-founder’s use of encrypted messaging apps. Bankman-Fried, who was charged with fraud after the cryptocurrency exchange collapsed, says he used a VPN just to…
Five more banks will join the pilot on the central bank digital currency or e-rupee for retail customers and the project will be extended to nine additional cities, the Reserve Bank said on Wednesday. The Reserve Bank of India, which began piloting the central bank digital currency or e-rupee for…
Sam Bankman-Fried is in talks with US prosecutors to resolve a dispute over the FTX cryptocurrency exchange founder’s bail conditions, his lawyer said on Thursday. The judge overseeing Bankman-Fried’s criminal fraud case in federal court in Manhattan on Wednesday temporarily barred the 30-year-old former billionaire from contacting employees of FTX…
The recent collapse of the crypto exchange FTX and the ensuing sell-off in the crypto markets have placed a spotlight on the vulnerabilities in the crypto ecosystem, the Economic Survey 2022-23 presented in Parliament said on Tuesday. Crypto assets are self-referential instruments and do not strictly pass the test of…
Coinbase has been fined $3.5 million (roughly Rs. 30 crore) in the Netherlands. The Dutch central bank has served the crypto exchange with a legal notice for offering crypto services in Netherlands without completing the required procedures, including registration. In May 2020, the Netherlands mandated crypto-related companies to register as…
Crypto giant Binance processed almost $346 million (roughly (Rs. 2,900 crore) in Bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by US authorities last week for allegedly running a “money laundering engine,” blockchain data seen by Reuters show. The Justice Department on January 18 said it charged Bitzlato’s…
Bankrupt crypto exchange FTX is looking into the possibility of reviving its business, Chief Executive Officer John Ray told the Wall Street Journal on Thursday. Ray, who took over the reins in November, has set up a task force to explore restarting FTX.com, the company’s main international exchange, he said…
Sam Bankman-Fried accused Binance boss Changpeng “CZ” Zhao of waging a lengthy campaign to destroy his crypto empire on Thursday while making yet another attempt to explain what led to FTX’s catastrophic bankruptcy. In a lengthy Substack post, the disgraced former FTX CEO alleged that Zhao’s “fateful tweet” on Nov….
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