The U.K. government has introduced a new bill to Parliament that proposes new legal protections for digital assets such as cryptocurrency, non-fungible tokens (NFTs), and carbon credits. The bill comes as the crypto sector contends with a range of regulatory headwinds: In the U.S., the Securities and Exchange Commission (SEC) has ruled that certain crypto […]
As a young immigrant in Brooklyn, Mo Shaikh often pondered over his father’s taxi earnings. His father would say he made $100, but Shaikh couldn’t understand why only $60 made it home. (The rest, he learned, went to intermediaries.) This early experience sparked his curiosity about financial systems, but also their shortcomings and the need
The Federal Trade Commission (FTC) published a report about increasing fraud at Bitcoin ATMs. These ATMs allow people to turn their cash into crypto, but they’ve become a tool for scammers to perpetrate fraud. Since 2020, the FTC says, fraud at Bitcoin ATMs has ballooned nearly tenfold, and just in the first half of 2024,
Bitcoin ATMs are a hotbed for scams, FTC says Read More »
Customers of WazirX, the Indian cryptocurrency exchange that suffered a $234 million hack in July, are unlikely to recover their funds in full through the ongoing restructuring process, a company legal adviser said on Monday. George Gwee, a director at restructuring firm Kroll working with WazirX, said that at least 43% of the money any
WazirX customers unlikely to recover full funds after $230M heist Read More »
OpenSea, which calls itself the “world’s largest” nonfungible token (NFT) marketplace, received a Wells notice from the SEC, the company said in a blog post Wednesday, indicating the regulator may soon bring a lawsuit against the company. In a tweet, CEO Devin Finzer says the SEC is claiming NFTs on OpenSea’s platform are unregistered securities.
SEC takes aim at NFT marketplace OpenSea Read More »
Depending on your thoughts on the intersection of crypto and Silicon Valley’s libertarians, this is either a dream idea or an odd one: former a16z-investor Balaji Srinivasan has booked out an island in Singapore to create his own “Network School.” This is where he’ll run programs on crypto, longevity and what it takes to establish “a technocapitalist
Binance, the world’s largest cryptocurrency exchange, has resumed operations for users in India after a seven-month hiatus imposed by a local authority for operating “illegally” in the country. The exchange said Thursday it has registered as a reporting entity with India’s Financial Intelligence Unit (FIU), a government agency tasked with scrutinizing financial transactions. India blocked
Binance restarts services in India after seven-month regulatory halt Read More »
In Puerto Rico, tax breaks enacted in 2012 aimed to juice the economy by encouraging mainland U.S. citizens to do business and live on the island, where they could apply to pay nothing in capital gains taxes. But the tech — and primarily crypto — entrepreneurs who showed up in droves to shield their wealth
The crypto founder who didn’t save Puerto Rico after all Read More »
The Appellate Court of Montenegro ruled on Thursday that Terraform Labs co-founder, Do Kwon, should be returned to his home country, South Korea. The ruling confirmed an earlier decision in April from the High Court of Podgorica which rejected a request to extradite the crypto fugitive to the U.S. The extradition date for Kwon to
The founder of once-hyped crypto startup BitClout is facing trouble. On Tuesday, the SEC charged BitClout founder Nader Al-Naji with fraud and unregistered offering of securities, claiming he used a pseudonymous identity to avoid regulatory scrutiny while he raised over $257 million in cryptocurrency. BitClout, a decentralized social media platform, raised from a who’s-who of
The SEC has charged an a16z and Sequoia-backed crypto startup founder with fraud Read More »
