Russian companies are exploring the use of cryptocurrency to pay for imports and receive crypto payments from foreign buyers of Russian exports. According to Anatoly Aksakov, Chair of the State Duma Committee on the Financial Markets, “big” Russian companies are already “using cryptocurrency to make payments.” The anti-crypto Central Bank has recently agreed to allow
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The US Securities and Exchange Commission Republican leader, Hester Peirce, believes that Europe’s recent legislation to regulate cryptocurrency could serve as a model for the US. Peirce, who is also known as “Crypto Mom,” spoke at a Financial Times event, where she praised the Markets in Crypto Assets law (MiCA) passed by the European Union
Binance, the largest cryptocurrency exchange in the world, has announced that it will be withdrawing from the Canadian market. The decision comes following new guidance around stablecoins and investor limits. Binance had been exploring alternative options to protect their Canadian user base, but ultimately determined that none were feasible. Canadian Securities Administrators Tightens Regulations The
Coinbase has launched a Global Advisory Council to help guide its leadership team, with former US lawmakers Patrick Toomey, Tim Ryan, and Patrick Maloney joining the council. The announcement follows a regulatory probe from US regulators and lawmakers working on legislation to write rules for crypto. Toomey, Ryan, and Maloney were all active in introducing
10T Holdings, a crypto-focused investment firm, has announced the launch of a new digital-asset startup investment fund, TenSquared Capital (10SQ). The fund aims to raise $200 million from investors and will back digital asset startups at various stages of growth. The fund has already secured commitments from limited partners of 10T for its upcoming investments.
Hong Kong-based Animoca Brands has announced that it is financially stable to continue its operations and is sitting on $2.7 billion worth of token reserves. The company has disclosed that it has a stablecoin reserve of $194 million and $566 million worth of liquid digital assets, including SAND, a utility token for the Sandbox NFT
The Tandera Militia, a notorious Brazilian criminal organization formed in the 1980s and allegedly commanded by Danilo Dias Lima, has been accused of laundering money through an obscure domestic cryptocurrency exchange. Brazilian militias are illegal paramilitary groups usually made up of former soldiers and police officers. Government officials claim that Lima has used militia funds
Tether, a stablecoin issuer, has announced that it made a profit of $1.48 billion in the first quarter of 2021. The company attributed this profit to increasing interest rates, which helped it earn higher returns on its reserves. In a press release, Tether stated that it has both gold and Bitcoin in its reserves, with
The US Securities and Exchange Commission (SEC) Chair, Gary Gensler, has been accused of avoiding requests for information about cryptocurrency-related matters. The House Financial Services Committee, which oversees the SEC, has held several crypto hearings this year. In one of these hearings, Committee Chair Patrick T. McHenry asked Gensler whether ether was a security or
North Korea’s missile program is believed to be funded, in part, by cyberattacks and cryptocurrency theft. The U.S. Deputy National Security Adviser for Cyber and Emerging Technology, Anne Neuberger, has stated that up to 50% of the country’s secretive missile program could be financed by such activities. Speaking at an event hosted by the nonprofit