The United States Securities and Exchange Commission (SEC) has initiated legal proceedings against Terraform Labs and its co-founder, Do Kwon, by submitting a demand for the company to pay civil fines and disgorgement in the amount of billions of dollars. The SEC has filed a petition in response to a judgement in a civil matter, … Continue reading SEC Seeks $5.3B Judgment Against Terraform Labs and Do Kwon
US senators Kirsten Gillibrand and Cynthia Lummis have introduced the Lummis-Gillibrand Payment Stablecoin Act, a landmark bipartisan legislation that seeks to establish a regulatory framework for payment stablecoins. The bill aims to protect consumers, foster responsible innovation, and crack down on money laundering and illicit finance. The legislation, which the senators have been working on … Continue reading US Senators Introduce Bipartisan Stablecoin Bill to Establish Regulatory Framework
Binance, the popular cryptocurrency exchange, has recently announced a scheduled system upgrade to improve the overall performance and stability of its platform. The upgrade is set to take place on April 23, 2024, from 06:30 (UTC) to 09:30 (UTC). According to the announcement posted on the Binance Support website, the system upgrade aims to enhance … Continue reading Binance Announces System Upgrade for Improved Performance and Stability
Recently, Ethena Labs, a company that specialises in the development of synthetic dollars, made an announcement on its integration with major centralised exchange wallets such as Binance, Bybit, OKX, and Bitget. The purpose of this integration is to make it easier for users to participate in Ethena’s rewards programme and to increase the platform’s popularity … Continue reading Ethena (ENA) Labs Integrates with Major Exchanges for Reward Program
DWF Labs is committed to investing in 50 startups operating in the web3 space, with a significant investment of USD $500,000 reserved for the most promising business. The partnership builds upon the foundation laid by the previous agreement, which included the establishment of a $5 million growth platform for Web3 businesses at the DMCC Crypto … Continue reading DWF Labs Renews Collaboration with DMCC to Propel MENA Blockchain Ecosystem Forward
UK Finance, a pivotal entity in the banking and finance sector of the United Kingdom, has initiated an experimental phase to delve into the capabilities and benefits of the UK Regulated Liability Network (RLN). This innovative phase involves a strategic partnership with eleven member organizations, aiming to unlock new possibilities in digital transactions and finance … Continue reading UK Finance Launches Experimental Phase for Regulated Liability Network (RLN)
In a letter addressed to Treasury Secretary Janet Yellen, US Senator Elizabeth Warren has expressed her support for the implementation of robust Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures for stablecoins. Warren’s letter emphasizes the importance of adopting the full suite of AML tools requested by the Treasury Department in a November … Continue reading Elizabeth Warren Urges Treasury Secretary Yellen to Implement Strong AML/CFT Measures for Stablecoins
Polkadot has caught widespread attention among blockchain project investors recently. Founded by Ethereum Co-founder Gavin Wood and managed by Web3 Foundation, Polkadot recently completed its private token sale with 500,000 DOT tokens at the valuation of $1.2 bn. Claimed as the candidate of Decentralized Web 3.0 Blockchain interoperability platform, what makes Polkadot so popular? We … Continue reading Exclusive: How to Achieve Interoperability Between Polkadot and Bitcoin?
In recent speculation, Facebook has acknowledged that there are several regulatory issues that is preventing the progress of launching Libra globally. “There can be no assurance that Libra or our associated products and services will be made available in a timely manner” Facebook mentioned in its filing with the Securities and Exchange Commission. The filing added, “These laws and regulations, … Continue reading Will Facebook Ever Be Able to Launch Libra?
Singapore’s Central Bank has announced that a website instigating fake claims to woo Singaporean investors is operational. Notably, this financial regulator has called out its activities as investors are prompted to purchase Bitcoin. The Monetary Authority of Singapore (MAS) has been pivotal in showcasing the website’s fabricated declarations about Bitcoin investment linked to Goh Chok … Continue reading Singapore’s Central Bank Raises Alarm About a Bitcoin Scam