BlockFi, the bankrupt cryptocurrency lender, has released a letter asking its creditors to disregard certain statements that were prematurely made earlier this month regarding the plan to reorganize. The letter was directed by the court. BlockFi has retracted the statements that were posted on its website, court docket, and Twitter, saying that they were made
Gemini, the New York-based cryptocurrency exchange, has been warned by the Philippines Securities and Exchange Commission (SEC) that it is operating its newly launched derivatives exchange without regulatory authorization in the country. The SEC issued an official warning to the exchange on May 18, claiming that the exchange has no legal right to operate in
ConsenSys, the owner of Ethereum wallet MetaMask, has denied claims that it collects taxes from cryptocurrency users. The company clarified that it only collects sales taxes on certain paid services and that tax-related terms do not apply to MetaMask and other products without sales tax. Rumors Raised Concerns Over MetaMask and ConsenSys’s Terms of Service
On May 22, Hotbit, a China-based cryptocurrency exchange, announced that it would suspend all operations by 04:00 UTC. Users of the platform were advised to withdraw their assets before June 21. Hotbit cited several factors that led to its decision to halt operations, including ongoing regulatory challenges, cyber attacks, and significant losses. Industry Challenges Hotbit
President Joe Biden has expressed his opposition to a proposal that could result in low taxes for crypto investors, as reported by The Hill on May 21. Following a G7 summit in Hiroshima, Japan, Biden said that he would not agree to a deal that protects wealth tax cheats and crypto traders while putting food
On May 19, the United States Treasury and its Office of Foreign Assets Control (OFAC) imposed sanctions on various entities with ties to Russia. Huriya Private FZ LLE, a company based in the United Arab Emirates (UAE), is among the entities that have been sanctioned by OFAC. The firm has allegedly been involved in money
South Korea’s Supreme Prosecutor’s Office is set to purchase new blockchain analytics software to aid in the fight against money laundering through cryptocurrencies. The software will be used to scrutinize overseas exchanges with the same level of scrutiny as domestic exchanges to catch and prevent laundering. New Tools for Cyber Investigations The Supreme Prosecutor’s Office
The Securities Commission (SC) of Malaysia has ordered Huobi, a cryptocurrency exchange, to stop operating in the country for failing to register as a digital asset exchange (DAX). As per the Capital Markets and Services Act 2007, all exchanges must obtain licensing from Malaysia’s SC as a Recognised Market Operator (RMO), and Huobi’s failure to
A new meme coin called $COPIUM has taken the Web3 circles by storm thanks to its exciting NFT and token airdrop campaign. The coin was launched on decentralized exchange Uniswap at 4pm UTC and within minutes, it pumped 1000%. The token has quickly established itself as the meme coin to watch and is predicted to
Coinbase Cloud, the Web3 infrastructure branch of Coinbase, has announced that it will become a Chainlink (LINK) oracle node operator to improve smart contract security. In a statement shared with CryptoSlate on May 18, Coinbase Cloud revealed that Chainlink plays a critical role in providing real-world data for web3 through decentralized Oracle networks. Many Web3