In a recent press release, India-based cryptocurrency exchange WazirX announced its plans to gradually resume fiat currency withdrawals following a month-long suspension due to a cyberattack. The hack, which took place on July 18, resulted in the theft of a substantial amount of ERC-20 tokens valued at over $235 million at the time. This incident
Implement
The Indian government is gearing up to introduce a set of comprehensive regulations for the cryptocurrency sector, as reported by local media outlets on August 22. This move signifies the government’s commitment to establishing a regulatory framework for digital currencies in India. This initiative follows Finance Minister Nirmala Sitharaman’s statement in October 2023, in which
Binance, the leading cryptocurrency exchange in terms of trading volume, recently announced that it successfully prevented over $2.4 billion in potential user losses from scams and fraud in the first seven months of 2024. A significant portion of these averted losses, over $1.1 billion, were related to withdrawals associated with suspected crypto scams. Thanks to
Recently, German authorities seized $28 million in cash and shut down 13 crypto ATMs as part of a nationwide effort to combat unlicensed activities within the cryptocurrency market. The Federal Financial Supervisory Authority (BaFin) spearheaded this operation, working closely with law enforcement and the German central bank to crack down on unauthorized crypto ATM operations.
Crypto exchange Binance recently faced a significant setback in Brazil, agreeing to pay a hefty fine of $1.76 million to settle allegations of unlicensed derivatives trading in the country. The settlement with the Comissão de Valores Mobiliários (CVM), Brazil’s securities regulator, comes after a year-long investigation into Binance’s activities in the country. This regulatory crackdown
Recently, cryptocurrency exchange Coinbase took a bold stance against the US Securities and Exchange Commission’s (SEC) proposal to expand the definition of “exchange” to include decentralized exchanges (DEXs). The exchange submitted a detailed comment letter outlining its concerns and objections to the proposed rule, highlighting potential negative impacts on innovation and the broader crypto market.
Russian President Vladimir Putin recently expressed concerns about the impact of cryptocurrency mining on power supply in various regions of the country. He emphasized the uncontrolled electricity consumption by Bitcoin and other crypto mining facilities, leading to power shortages in areas such as Irkutsk region, Buryatia, and Trans-Baikal Territory. Putin highlighted the severity of the
In a recent discussion, Joey Garcia, the Director and Head of Regulatory Affairs and Public Relations at Xapo Bank, shared his experiences and thoughts on the evolution of digital asset regulation. Collaborating with CryptoSlate Senior Analyst James Van Straten, Garcia shed light on the hurdles and achievements encountered while shaping regulatory frameworks for digital assets.
US Senator Cynthia Lummis (R-WY) recently introduced the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act” in the Senate with the aim of supercharging the US dollar and paying down the national debt through the establishment of a strategic Bitcoin reserve. The BITCOIN Act proposes the creation of a Strategic Bitcoin Reserve
Zoomex, an innovative crypto exchange platform, has made a name for itself by prioritizing user privacy and anonymity. Unlike many other exchanges that require extensive Know Your Customer (KYC) verification processes, Zoomex does not mandate KYC. This policy ensures that users can trade confidently, knowing their personal data remains private and secure. This emphasis on