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The United States Justice Department is reportedly investigating the collapse of the TerraClassicUSD (USTC) stablecoin which contributed to a $40 billion wipe out in the Terra ecosystem last May.Two agencies within the department — the Federal Bureau of Investigation (FBI) and Southern District of New York (SDNY) have interrogated former
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New York-based Signature Bank, another crypto-friendly bank, has been closed down by its state charter authority as of Mar. 12.The Federal Reserve explained in a Mar. 12 statement that the decision was made in conjunction with U.S. Federal Deposit Insurance Corporation (FDIC) to protect the U.S. economy and strengthen public
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United States authorities are working on "material action" over the weekend in an attempt to limit the ripple effect across the country's banking system after the Silicon Valley Bank abruptly collapsed on March 10.According to a Reuters report citing unnamed sources, officials in the Joe Biden administration assessed the impact
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Local authorities in Singapore announced they had begun a probe that is connected to Do Kwon’s Terraform Labs.According to a Bloomberg report, Singaporean police sent an email on March 6, which said, “investigations have commenced in relation to Terraform Labs.” The email also added that the inquiries are “ongoing,” and
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Binance Exchange, the world’s largest digital currency marketplace by trading platform has announced the launch of its Joint Anti-Scam Campaign. Tagged as the next innovation in its bid to protect its customers, the trading firm said the initiative is starting in Hong Kong, a region known for its acceptance of
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Of the $9 million in stolen assets, Platypus said it has recovered 2.4 million USDC and 687,000 BUSD, it has also worked with Tether to freeze 1.5 million USDT. French police seized approximately $220,000 worth of crypto as part of the arrest. USDC, USDT and BUSD are all stablecoins that
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Norwegian authorities, in collaboration with the Federal Bureau of Investigation (FBI) and the U.S. Department of Justice (DOJ), have allegedly seized about $6 million that was stolen in last year’s Axie Infinity heist. “It is the biggest crypto seizure Norwegian police have ever made,” said Norway’s Økokrim. Norway and FBI Recoup
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The National Authority for Investigation and Prosecution of Economic and Environmental Crime – known in Norwegian as Økokrim – said it is the biggest crypto seizure ever made by the country's police. Source
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United States authorities appear to be resurrecting past techniques to crack down on crypto firms and banks offering services to the industry, several sources told Cryptox.The alleged strategy consists of isolating the traditional financial system from the crypto market by relying on “multiple agencies to discourage banks from dealing with
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2 February 2023 A blog by Deborah Clarke, ICO Upstream Regulation
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