The Luna Foundation Guard (LFG) announced the movement of its crypto holdings to a direct custody solution, citing “safety” measures. LFG is the non-profit organization of Terraform Labs, the firm that recently made a settlement in a legal battle with the SEC. Terraform Labs and its founder Do Kwon were
Ripple Labs, a subsidiary of Ripple, witnesses a securities case filed against the company in California. The new lawsuit targets Ripple CEO, Brad Garlinghouse alleging him of ‘misleading statements’ in a 2017 interview regarding XRP’s designation as a security. The cryptocurrency firm recently celebrated a partial win against the SEC
Hong Kong has drawn market attention in the past few months with its progress toward digital asset adoption. Currently, the impending agenda in the nation is the introduction of a licensing system for crypto-fiat exchanges. The CFO of OSL Group, a leading crypto exchange in the Chinese capital, discussed the
The Tanzanian Government has announced amendments to its Income Tax Act including a 3% tax for crypto traders recently. Notably, the Tanzanian government has made further advancements to its finance system in the following days. According to the proposal, the Minister for Finance, Dr. Mwigulu Lameck Nchemba Madelu, suggested amendment
The Orissa High Court in India recently stated in a Ponzi scheme accusation case, that crypto trading is not illegal. The announcement has pronounced the country’s stand on cryptocurrency amidst recent regulations discussions. According to sources, the case included two individuals who were accused of defrauding people through a Ponzi or
In the past few months, crypto regulatory policies have witnessed a global upscale. Countries such as Zimbabwe have initiated regulatory measures earlier this year. Amid crucial regulatory events, Taiwan announced the launch of a ‘crypto industry association’ encompassing leading members from 24 crypto firms. The association, “Taiwan Virtual Asset Service
The Australian Government announced the ban on cryptocurrency and credit card usage in online betting games on Tuesday. The announcement is a recent development of the country’s progress towards curbing ‘problem gambling’ in both physical and digital spheres. The Australian Government has been working on the ban since 2021. After
Singapore banks affected by the substantial money laundering announced increased scrutiny of their wealthy customers according to Bloomberg. Leading banks such as Citigroup Inc., and DBS Group Holdings Ltd. are among the banks that are working to tighten security following the attack in 2023. Notably, the money laundering case that
In the past few months, Nigeria and the USA have contested over the arrest of Binance Executive and US citizen, Tigran Gambaryan. This ongoing battle regarding Gambaryan’s prosecution has caught the market’s attention. Mohammed Idris, Minister of Information, made a statement on Wednesday defending Nigeria’s take on the case. He
A student of Chinese Zhejiang University, Yang Qichao issued a virtual currency token BFF in 2022. After the issuance, Qichao’s uninformed liquidity withdrawal caused a crypto investor, Luo, to lose 50,000 BSC-USDT coins that he exchanged for the tokens. This pushed Luo to file a complaint with the Nanyang Public
