A global money laundering and terrorist financing watchdog has called on Qatar to make significant improvements to its response to terrorist financing. According to a report released by the Financial Action Task Force (FATF), Qatar needs to understand more complex forms of money laundering and terrorist financing and establish more controls to combat these issues.
Binance, the world’s largest crypto exchange by trading volume, has announced their plan to delist several privacy-focused coins for users in Spain, France, Italy, and Poland. The coins that will be delisted are designed to make it difficult for third-parties to trace transactions and get information about wallet balances. These coins include Zcash (ZEC), Monero
The cryptocurrency market saw a downturn in May, with Bitcoin (BTC) declining by 7.37% and Ether (ETH) decreasing by 0.22%. The average loss across the market was 5.62% on the last day of the month. However, some outliers posted impressive gains, driven by popular investment narratives and the growth of the Ethereum staking sector. Pepecoin
Silvergate Bank, which is known for being crypto-friendly, has been instructed to wind down its operations. The Federal Reserve Board issued a consent order to Silvergate Capital Corporation and Silvergate Bank on June 1, 2022. The company had initially announced voluntary self-liquidation on March 8, 2022. Shutdown Plan The order requires Silvergate Bank to submit
Peer-to-peer cryptocurrency exchange, Paxful, has announced the appointment of Roshan Dharia as its interim CEO. Dharia, who previously served as a senior executive at TrustToken, will be tasked with strengthening operations and exploring strategic alternatives. In a statement, Dharia expressed his excitement about taking on the role and building on the innovative technology developed by
Coinbase CEO Brian Armstrong expressed his disappointment over the regulatory approach of the US lawmakers towards cryptocurrency. He warned that innovation is shifting to other countries, and restrictive US cryptocurrency policies will benefit countries like China. The Effect of Restrictive Policies on Crypto-Innovation Armstrong wrote in a MarketWatch opinion article that the enforcement of restrictive
The US Commodities and Futures Trading Commission (CFTC) has released a warning related to the clearing of digital assets. The CFTC’s Division of Clearing and Risk (DCR) has seen derivatives clearing organizations (DCOs) and applicants expand their offerings, with some related to digital assets. The DCR has expressed concern about “potentially heightened risks” associated with
Solana (SOL) has the potential to become the crypto world’s equivalent of tech giant Apple due to its strong focus on user experience, according to Solana co-founder Raj Gokal. In a recent interview with TechCrunch, Gokal compared Solana to Apple, stating that the Mac and iPhone maker’s “relentless focus on simple interaction” is something Solana
The volatility of Bitcoin has drastically decreased, hitting historically low levels due to low market liquidity and macroeconomic uncertainty. The Bitcoin Volatility Index shows that the 30-day volatility was 1.52%, which is less than half of the yearly average values. According to Glassnode, such low volatility levels were only seen for 19.3% of Bitcoin’s price
Bybit, the cryptocurrency exchange, has halted all its services and products being offered in Canada until further notice due to regulatory developments in the country. The exchange announced on May 30 that Canadian nationals and residents of the country would no longer be able to open new accounts with the exchange starting May 31. Bybit