TerraUSD Founder Do Kwon Indicted in US Following Montenegro Arrest

TerraUSD Founder Do Kwon Indicted in US Following Montenegro Arrest

ByNews Polite

Do Kwon, the cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion (nearly Rs. 3,28,500 crore) or more last year, has been charged with fraud by US prosecutors. An eight-count indictment against Kwon was made public in the US District Court in Manhattan, several hours after news of his…

Terraform Founder Do Kwon Charged for Forging Documents by Montenegrin Police

Terraform Founder Do Kwon Charged for Forging Documents by Montenegrin Police

ByNews Polite

Montenegrin police on Friday formally charged Do Kwon, the cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion (nearly Rs. 3,29,500 crore) or more last year, for forging official documents after arresting him on Podgorica airport. Do Kwon, a South Korean national, and a second suspect have been…

RBI Suggests Common Approach to Crypto Assets to Avoid Potential Financial Risks

RBI Suggests Common Approach to Crypto Assets to Avoid Potential Financial Risks

ByNews Polite

To address potential financial stability risks and protect investors, it is important to arrive at a common approach to crypto assets, the Financial Stability Report released by RBI said on Thursday. In this context, various options are being considered internationally, it said. One option is to apply the same-risk-same-regulatory-outcome principle…

Vitalik Buterin Shares His Take on Algorithmic Stablecoins and Their Future

Vitalik Buterin Shares His Take on Algorithmic Stablecoins and Their Future

ByNews Polite

Ethereum founder and crypto enthusiast Vitalik Buterin recently shared his two cents on algorithmic stablecoins and their future adding that they should be scrutinised on the basis of how they fare under extreme market conditions, and whether they can safely wind down when hype falls away. Despite the recent collapse…

RBI Governor Shaktikanta Das Issues Crypto Warning After Terra’s LUNA, UST Collapse

RBI Governor Shaktikanta Das Issues Crypto Warning After Terra’s LUNA, UST Collapse

ByNews Polite

Shaktikanta Das, the governor of the Reserve Bank of India has stated in an interview that the country’s central bank has rightly been cautioning against cryptocurrencies, following the collapse of Terra’s UST and LUNA. On May 15, RBI officials warned that with most cryptocurrencies denominated by the US dollar, it…

Terra’s Internal Legal Team Resigns After LUNA, UST Debacle

Terra’s Internal Legal Team Resigns After LUNA, UST Debacle

ByNews Polite

The in-house legal counsel at Terraform Labs, the blockchain startup behind the UST stablecoin and LUNA governance token has silently resigned from the company. Terraform Lab’s general lawyer Marc Goldich, chief litigation, and regulatory counsel Noah Axler, and chief corporate counsel Lawrence Florio all left the blockchain business in May…