The MiCA regulation, set to reshape the crypto industry, is a hot topic in 2024. It represents a significant step by the European Union in regulating the crypto-asset market. As companies operating in the crypto space gear up for this regulatory evolution, it is crucial for them to ensure compliance for a smooth transition. MiCA
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Gavin Wood, the founder of the Polkadot protocol, recently announced the upcoming Join-Accumulate Machine (JAM) upgrade for the network. This announcement took place during Wood’s presentation at the Token2049 crypto conference in Dubai. The new Gray Paper outlines the details of the JAM upgrade and its potential impact on the Polkadot network. As part of
The bankruptcy of the FTX exchange has sent shockwaves through the cryptocurrency market as the exchange recently emptied its FTT treasury account to a new wallet address. Arkham Intelligence’s dashboard revealed that the transferred assets from the FTT Treasury wallet included 195.87 million FTT tokens valued at approximately $247 million, 1,938 ETH valued at around
The recent introduction of the Lummis-Gillibrand Payment Stablecoin Act has sparked criticism from industry experts within the crypto community. Former Blockchain Association member Jake Chervinsky labeled the bill as “deeply flawed” and raised concerns about its potential impact on the ecosystem. Chervinsky argued that the proposed ban on algorithmic stablecoins could stifle innovation and only
Railgun has publicly refuted any involvement with the sanctioned North Korea’s Lazarus Group in using its platform for illicit activities. In a social media post addressing the accusations, Railgun emphasized that their system is designed to prevent any sanctioned or malicious users from accessing their services, dismissing the claims as baseless. The allegations against Railgun
Binance.US has been under fire lately due to its lack of compliance with regulations, which has led to a decrease in users’ trust in its services. The platform’s association with the global Binance exchange has only heightened regulatory scrutiny, resulting in a record fine settlement with US authorities in 2023. This has prompted the need
Bitcoin Depot, the largest Bitcoin ATM operator in the United States, has shown remarkable resilience in terms of its revenue generation despite the highly volatile nature of cryptocurrency prices. The company reported revenues of $689 million in 2023 and $647 million in 2022, showing a consistent upward trend. The interesting aspect is that these revenues
The provincial government of Buenos Aires has recently made formal accusations against Worldcoin, claiming that the company has violated consumer laws through the inclusion of what they deem to be “abusive clauses” in their user agreement. Specifically, the government alleges that Worldcoin’s agreement allows for the interruption of services without providing any form of repair
Recent discussions between House leaders and Senate Majority Leader Chuck Schumer may lead to action on stablecoin legislation during this summer’s session or in the year-end lame-duck session. House Financial Services Chair Patrick McHenry and ranking member Maxine Waters met with Schumer last week to deliberate on stablecoin legislation, a key area of financial technology
The UK government is on the verge of introducing new crypto staking and stablecoin legislation by July 2024, which represents a significant step towards regulating the crypto industry. The Economic Secretary, Bim Afolami, recently announced these upcoming regulations at the Innovate Finance Global Summit in London. Afolami emphasized the government’s commitment to finalizing the legislation