The PBOC's managed float allows the yuan to fluctuate 2% on either side of daily fix, and the bank manages that band via active buying and selling of yuan. If USD/CNY threatens to rally beyond the 2% limit, for instance, the PBOC sells the dollar and buys yuan to shore AttentionBitcoinBTCChineseCryptoCurrencypayTradersYuan Read More
Japan will implement stricter rules for exchanges, including the implementation of the FATF travel rule, to combat money laundering and ensure transparency in cryptocurrency transactions.
On May 23, Japan announced that it will implement stricter measures against money laundering (AML) in cryptocurrency transactions starting from June 1, in order to comply AntiMoneyCryptoCurrencyImplementsJapanLaunderingMeasuresStricterTransactions Read More
With the creation of digital assets, crypto exchanges, and digital gambling, bitcoin (BTC) has emerged as a leader in online gambling. The crypto asset has transformed the gambling industry by providing players with the exceptional experience of crypto casinos.
Bitcoin casinos are specialized platforms that offer a tailored gambling experience designed BitcoinCryptoCurrencyGamblingLeadingreasons Read More
Last week, Ledger announced the service, called Ledger Recover, which will allow users to store encrypted backups of their seed phrases with a set of three custodians. Ledger owners will then be able to restore their private keys even if they lose or forget their seed phrases. The opt-in feature CriticismCryptoCurrencyHardwareKeyLedgerPostponesProviderPublicRecoveryReleaseServiceWallet Read More
Nevin Shetty, a former chief financial officer (CFO) at a Seattle startup, was indicted on May 17 in the United States District Court in Seattle on charges of wire fraud. The indictment alleges that Shetty, 39, diverted approximately $35 million from the startup’s coffers to a cryptocurrency platform under his personal control. Shetty 35MCFOCryptoCurrencydivertingIndictedVenture Read More
Westpac, one of Australia’s ’Big Four’ banks, is launching its first trial of scam protection measures designed to combat fraudulent activities related to cryptocurrencies.The protection measures aim to mitigate losses from scams and reduce potential risks.According to the announcement, investment scams account for approximately 50% of all customer losses linked to AustralianBankBeginsBigBitcoinBlocksCryptoCurrencycryptoexchangeExchangesPaymentTrial Read More
U.S. Senators Jim Risch and Bob Menendez have reintroduced the “Accountability for Cryptocurrency in El Salvador Act,” known as the “ACES Act,” for discussion in the Senate. The piece of legislation seeks to examine the level of adoption of bitcoin as a legal tender in El Salvador and how this accountabilityacesActBitcoinCryptoCurrencyNewsReintroduceSalvadorSenators Read More
Online trading platform Robinhood (HOOD) reported cryptocurrency trading revenue of $38 million for Q1 2023, a decline of around 30% compared to $54 million for the year-earlier period, according to the company's earnings results. On a quarterly basis, however, crypto revenue declined just 1%.
Source CryptoCurrencyHOODRevenueRobinhoodYear Read More
The cryptocurrency industry has faced significant regulatory challenges in recent years, with the SEC and CFTC taking action against various projects, including sending Wells notices to Coinbase. Amidst this regulatory landscape, the concept of sovereignty and international law has become increasingly important for crypto investors and innovators. The idea BitcoinCryptoCurrencycryptoexchangeExchangesFinallyHavenNewsSafeSponsored Read More
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The E.U.’s Digital Finance Package proposal, known as DAC8, has recommended that crypto asset service providers report their clients’ transactions to help combat tax-related criminal activities such as tax evasion.
This move is part of the E.U.’s CryptoCurrencydataPlanProgressShareTax Read More