India’s Financial Intelligence Unit (FIU-India) is taking a strict stance on the compliance of offshore crypto exchanges operating in the country. The FIU is reportedly set to approve two more exchanges to resume operations by the end of the fiscal year. This decision comes after four exchanges were previously banned for non-compliance with anti-money laundering
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Recent news has confirmed that Binance’s co-founder, Changpeng Zhao (CZ), is permanently barred from managing the crypto exchange. Despite initial reports suggesting a three-year ban, CEO Richard Teng clarified that the ban is permanent. This means that CZ will never be able to resume a leadership role at the platform. However, as the largest shareholder
Following the theft of over $235 million from Indian crypto exchange WazirX, the hacker responsible has managed to transfer around $10 million through the sanctioned Tornado Cash in the past 24 hours. This move has raised concerns within the crypto community, as it indicates potential challenges in tracking and recovering the stolen funds. The hacker’s
Tigran Gambaryan, a Binance executive detained in Nigeria on money laundering charges, made a fresh bail request on medical grounds during his court appearance on September 2. His legal team cited his deteriorating health in prison as the basis for the application. They reported that his condition has worsened to the point where they cannot
Ryan Salame, a former FTX executive, has decided to withdraw his petition to dismiss the indictment against Michelle Bond just days before a crucial court hearing. The letter from Salame’s legal team, dated Aug. 29, informed Judge Lewis A. Kaplan of the Southern District of New York that the petition was being withdrawn “without prejudice.”
Telegram CEO Pavel Durov has recently been released from prison but placed under judicial supervision with strict conditions. These conditions include a hefty bond of €5 million and a ban on leaving the French territory. Additionally, Durov is required to report to the police station twice a week as part of his bond obligations. Criminal
In a move to revolutionize the financial landscape, the Hong Kong Monetary Authority (HKMA) has unveiled the Project Ensemble Sandbox. This groundbreaking initiative aims to explore the potential of tokenization across different asset classes and real-world financial applications. The sandbox will delve into the use of tokenized money in interbank settlements and transactions involving tokenized
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.