Page 30 - Cryptocurrency

Explained: All you need to know about Ethereum's latest Shapella upgrade

Regarded as the last milestone in the cryptocurrency's multi-year shift from proof-of-work (PoW) to proof-of-stake (PoS) consensus, Shapella will make earlier staked Ethereum more liquid

Crypto issue requires immediate attention, says FM Nirmala Sitharaman

Issues related to crypto assets require immediate attention and the response of the G20 has to ensure that they do not lose any potential benefits while protecting economies from harm, Union Finance Minister Nirmala Sitharaman has said. Sitharaman was part of a brainstorming session on "Macrofinancial Implications of Crypto Assets" with G20 finance ministers and central bank governors at the IMF's headquarters here on Friday. India currently holds the rotating annual presidency of G20 countries. Issues related to crypto have emerged as a major point of discussion among G20 countries and there is unanimity among member nations about the urgency to regulate this sector. The brainstorming session was attended by global experts on this issue. In her remarks, Sitharaman said the G20 acknowledges the work of the International Monetary Fund (IMF) and the Financial Stability Board (FSB) in bringing out key elements of policy and regulatory framework. She also said a synthesis paper, which

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G20 consensus that regulations on crypto assets has to be global: FM

Members of the G20 agree that a globally coordinated understanding would be required not only to deal with the challenges posed by crypto assets but also to regulate them, Union Finance Minister Nirmala Sitharaman has said. The grouping has responded to the issue with alacrity and during India's presidency of the G20, a "synthesis paper" will be taken up on matters related to crypto assets, the minister told a press conference here on Thursday. "I am glad to say that there is a greater acceptance among all G20 members, that any action on crypto assets will have to be global," Sitharaman and added that "the G20, I think, has responded fairly with alacrity (on the crypto challenge)," she said. On the sidelines of the annual spring meeting of the International Monetary Fund (IMF) and the World Bank, Sitharaman along with Reserve Bank of India Governor Shantikanta Das co-chaired a meeting of finance ministers and central bank governors from member countries. Issues related to crypto ..

Bitcoin climbs to 10-month high of $30,000 as rate hike worries ease

For the past three weeks, Bitcoin was stuck in the range of $26,500 and $29,400

Cryptocurrency to FTA: Nirmala Sitharaman discusses range of issues in US

Sitharaman said that the World Trade Organisation (WTO) needs to be more progressive and must give space to countries that have something different to say

Dogecoin rises as much as 30% as Twitter home button becomes Doge meme

Doge also began to trend on Twitter. The token gave up some gains to trade 8.6% higher at 11 a.m. in London

Bitcoin touches high end of recent range; Dogecoin extends gain

The largest cryptocurrency by market value rose as much as 3.1% to $28,442 on Tuesday, its first session higher in three

Cryptocurrency phishing attacks have grown by 40% in one year, says report

According to cybersecurity firm Kaspersky, the financial threat landscape has seen significant changes in 2022

ED investigating several cases related to crypto frauds: MoS Finance

Enforcement Directorate is investigating several cases related to cryptocurrency/ virtual digital currency frauds wherein a few crypto exchanges have also been found involved in money laundering, Parliament was informed on Monday. In a written reply in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said the virtual digital assets have the potential for criminal misuse. "Directorate of Enforcement is investigating several cases related to crypto currency/ virtual digital currency frauds wherein a few crypto exchanges have also been found involved in money laundering," he said. Necessary action as per provisions of Prevention of Money Laundering Act, 2002 (PMLA) has been taken by the Directorate of Enforcement (ED), he added. "As on January 31, 2023, proceeds of crime amounting to Rs 936.89 crore have been attached/seized/freezed, five persons have been arrested and six Prosecution Complaints (PCs), including one supplementary PC have been filed before the Special Cour

Crypto wrap: Market trading flat amid regulatory crackdown on Binance

Earlier this week, the US Commodity Futures Trading Commission filed a lawsuit against Binance for trading against customers and misusing internal trading channels

FTX founder Bankman-Fried charged with paying $40 million bribe to China

FTX founder Sam Bankman-Fried was charged with directing USD 40 million in bribes to one or more Chinese officials to unfreeze assets relating to his cryptocurrency business in a newly rewritten indictment unsealed on Tuesday. The charge of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act raises to 13 the number of charges Bankman-Fried faces after he was arrested in the Bahamas in December and brought to the United States soon afterward. FTX filed for bankruptcy on November 11, when it ran out of money after the cryptocurrency equivalent of a bank run. He has remained free on a USD 250 million personal recognisance bond that lets him stay with his parents in Palo Alto, California. He has pleaded not guilty to charges that he cheated investors out of billions of dollars before his business collapsed. The alleged bribes stemmed from the operation of Alameda Research, which is affiliated with FTX, Bankman-Fried's global cryptocurrency exchange.

South Dakota Guv Noem's veto of cryptocurrency regulations upheld

South Dakota's House failed on Monday to override Gov. Kristi Noem's recent veto of a bill that would have created government regulations for the use of cryptocurrency in the state. The bill had passed smoothly throughout the legislature, and Noem's veto of last week was upheld on a 37-30 vote. Proponents had argued the bill would have centralized different cryptocurrency systems through one government oversight commission, boosting transparency. But opponents saw the proposed regulations as a tool for potential government surveillance and overreach, saying they wanted more time to see how such legislation fares in other states. Six other states have passed the Uniform Commercial Code's update, which requires tangible records of cryptocurrency exchanges so that they can be considered money. National commercial standards aim to regulate digital currency exchanges by adding transaction records, but Noem said such a step would take away from South Dakotans' market freedoms. It would b

Crypto exchange Binance, its CEO sued by CFTC over US regulatory violations

Binance Holdings is the world's largest cryptocurrency exchange

Crypto exchange Binance temporarily suspends all spot trading

According to Arcane Research, the world's largest crypto exchange has also increased its market share of Bitcoin spot volume to over 90 per cent in recent quarters, because of zero commission

Binance halts deposits, withdrawals after technical glitches: CEO Zhao

"Engine 1 is back online. Still need more time to do reconciliations, and for other engines to catch up," Zhao said in a subsequent tweet

Crypto fugitive Do Kown behind $40 bn crash arrested, charged with fraud

US prosecutors have arrested Do Kwon, the cryptocurrency entrepreneur behind the crash of two digital currencies (TerraUSD and Luna) that lost over $40 billion last year, and charged him with fraud

Crypto wrap: Market remained in green despite rate hikes by Fed, BoE

Another major development in the crypto world during the week was the US Securities and Exchange Commission's 'Wells notice' to crypto exchange Coinbase

US serves notice to Coinbase for allegedly breaking securities laws

Leading crypto exchange Coinbase has been put on notice by the US Securities and Exchange Commission for allegedly breaking securities laws

Bitcoin set to extend its 70% surge this year if key charts are right

Some analysts argue the token is being viewed as a hedge against the woes in the US and European banking sectors and benefiting from expectations of looser monetary policy