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 (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
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
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
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
TBD, the crypto firm of Jack Dorsey, has collaborated with Ray Youssef, co-founder of Paxful, to launch a new decentralized peer-to-peer (P2P) crypto trading platform called Civilization Kit (Civ Kit). The platform aims to provide thousands of plug-and-play P2P marketplaces worldwide. Details of Civ Kit Civ Kit will be developed on Nostr, a decentralized network
DEUS Finance, a DeFi protocol, was hacked over the weekend, resulting in a loss of over $6 million. The hackers exploited a vulnerability in DEUS Finance’s own stablecoin DEI on BNB Smart Chain and Arbitrum networks. However, a significant portion of the lost funds has now been recovered. The Hack According to blockchain security firm
Several major media outlets, including The New York Times, The Financial Times, and Bloomberg, have requested access to a list containing the names of approximately 9 million FTX customers and creditors who lost their money when the exchange filed for bankruptcy in November 2020. While transparency is typically beneficial in legal situations, concerns have been
Democratic Senator Elizabeth Warren plans to reintroduce a crypto bill with the aim of cracking down on money laundering and terrorist financing. During a Senate Armed Services Committee hearing, Warren announced that she would reintroduce the Digital Asset Anti-Money Laundering Act. The Purpose of the Bill The Digital Asset Anti-Money Laundering Act seeks to ensure
The US Justice Department is currently investigating whether Binance Holdings Ltd. was involved in allowing Russians to bypass US sanctions and transfer money via the cryptocurrency exchange. Bloomberg News reported that the Justice Department’s national security division is assessing whether Binance or its officials acted unlawfully when it came to sanctions in relation to Russia’s