Rosbank, one of Russia’s leading financial institutions, has announced its plans to become the first major bank to provide cross-border cryptocurrency transactions. The move comes as Rosbank collaborates with B-Crypto, a Russian fintech service that offers a technical solution for customers to participate in digital currency transactions across borders. Rosbank has emphasized that these transactions
On June 2, Republican House members released a draft bill that aims to establish clear roles for regulators in the cryptocurrency industry. The bill is designed to separate the regulation of cryptocurrencies as securities from the regulation of cryptocurrencies as commodities. The Proposed Rules The bill proposes that the U.S. Securities and Exchange Commission (SEC)
A recent study commissioned by the European Parliament has suggested that all crypto assets should be considered as transferable securities by default. Proposed Exemption The study’s authors proposed that an intermediary associated with a crypto asset could receive an exemption from a national competent authority (NCA) to avoid being classified as a security. NCAs are
The Washington DC-based Blockchain Association has filed an amicus brief in support of the crypto think tank Coin Center’s lawsuit against the US Treasury Department over its sanctions against Tornado Cash. The Treasury sanctioned the crypto mixer in August, claiming that it laundered more than $7 billion worth of virtual currency and effectively banning Americans
Advocates of cryptocurrency have expressed their support for a new draft legislation that seeks to provide clarity on defining whether digital assets are securities or commodities. The proposed legislation, introduced by Republican lawmakers in the US House Financial Services Committee and the House Agriculture Committee, is aimed at regulating digital assets and establishing a framework
Atomic Wallet, a decentralized wallet with a considerable user base of over five million users, has allegedly been hacked. There are reports suggesting that the users’ funds have been compromised, with some victims losing their entire balance. The Incident On June 3, 2021, Atomic Wallet tweeted that it was investigating the incident. The tweet stated
Denish Sahadevan, a 31-year-old social media influencer, has pleaded guilty to several criminal charges related to money laundering using cryptocurrency. The US Department of Justice (DoJ) recently released a statement accusing Sahadevan of fraudulently obtaining over $1.2 million in government relief loans. The influencer, better known as Danny Devan on social media, admitted to committing
Successful trading and investing in the crypto market is more difficult than in traditional financial markets due to the unfamiliarity of blockchain-related concepts. However, a new all-in-one web3 platform called Launchpad XYZ aims to address this issue by providing users with an array of tools and services. What is Launchpad XYZ? Launchpad XYZ is an
Republican lawmakers in the US House Financial Services Committee and the House Agriculture Committee have come together to draft legislation aimed at regulating digital assets. The legislation, called the Digital Asset Market Structure Discussion Draft, seeks to clarify when a digital asset would be considered a security and therefore regulated by the Securities and Exchange
Bitcoin (BTC) witnessed a lackluster end to May as it slid below $27,000. The monthly close delivered disappointment for the cryptocurrency market, and the pair erased its entire uptick seen over the weekend, coming full circle to act in a familiar range on the day. The area immediately below $27,000 has been a key focal