The Central Bank of Brazil has chosen nine partners to develop a digital real

Cryptocurrency News

The Central Bank of Brazil has selected nine projects to take part in the development of the Brazilian digital real and explore possible options for its use. According to the Central Bank of Brazil, as part of the Lift Challenge Real Digital pilot project, the regulator selected nine projects from initiatives submitted by 43 different companies. The Central Bank noted that proposals for the development of a state stablecoin came not only from Brazil, but…

Minority shareholders initiated an audit of ConsenSys

Cryptocurrency News

The management of the company ConsenSys AG (CAG), working on the development of the Ethereum ecosystem, was accused of financial irregularities. Former 35 CAG employees who own 50% of the shares have filed a request for an audit to investigate serious financial irregularities. A special review is conducted by law enforcement in accordance with the Swiss Code of Obligations and concerns transactions valued at billions of dollars in a deal code-named Project North Star. Shareholders…

Digital Currency Group will buy Grayscale shares for $250 million

Cryptocurrency News

Digital Currency Group will hold another round to buy back shares of its subsidiary Grayscale. The share buyback program is centered around the investment products Litecoin, Zcash and Horizon. Digital Currency Group (DCG) founder Barry Silbert revealed on Twitter that the $250 million share buyback program is centered around the Litecoin Trust, Horizon Trust, Zcash Trust and other Grayscale products. The previous year’s program was aimed at buying shares in Grayscale Bitcoin Trust – then…

KuCoin Survey: 40% of Turkish Citizens Own or Trade Cryptocurrencies

Cryptocurrency News

According to a survey conducted by the KuCoin exchange, about 40% of Turkish citizens own crypto assets. The rapid adoption of cryptocurrencies in Turkey is due to the fall of the Turkish lira. Researchers at the KuCoin cryptocurrency exchange conducted a survey among residents of Turkey. It turned out that against the backdrop of a fall in the value of the Turkish lira and high inflation, the demand for digital assets in Turkey is growing.…

South Korean court upheld the ban on the purchase and sale of cryptocurrencies by gamers

Cryptocurrency News

South Korea’s constitutional court has dismissed a lawsuit challenging a law that bans gamers from buying and selling cryptocurrencies and non-fungible tokens (NFTs). According to local News1, two unnamed individuals for legal reasons, after administrative prosecution, tried to challenge the law that prohibits gamers from buying and selling cryptocurrencies and NFTs, saying that it violates the country’s constitution. The fate of the Play-to-Earn (P2E) industry in South Korea depended on the success of this case.…

British authorities intend to tighten requirements for the registration of crypto companies

Cryptocurrency News

The new bill will require owners of cryptocurrency companies to provide more personal data to the UK Companies House (CH). The UK government has proposed a series of reforms that will provide more oversight of cryptocurrencies “for the purposes of combating money laundering and terrorist financing.” The rules will be laid out in a new economic crimes bill aimed at addressing the problem of “using cryptocurrencies to hide their illegal origin.” The changes should tighten…

The White House asked cryptocurrency exchanges to block users from Russia who were on the sanctions lists

Cryptocurrency News

The Biden administration reminded cryptocurrency exchanges that Russian users on sanctions lists should not receive digital currency trading and exchange services. According to Bloomberg, the White House is holding relevant discussions with operators of the largest cryptocurrency platforms. According to US officials, Russians who are on the sanctions list may well begin to use cryptocurrencies to circumvent sanctions. As a White House official emphasized, the Biden administration does not believe that cryptocurrencies can really replace…

South Korea will invest about $185 million to create its own metaverse

Cryptocurrency News

The Ministry of Science and Information and Communication Technologies of South Korea plans to direct public funding in the amount of $185 million to create its own metaverse. As part of the five-year “Virtual World Expansion Strategy” designed to place South Korea among the world’s top five metaverse creators, the Virtual World Academy will be established. The functions of the organization will include state support and encouragement of the active participation of commercial companies interested…

Mairead McGuinness: “it’s better to regulate cryptocurrencies, not ban them”

Cryptocurrency News

EU Financial Commissioner Mairead McGuinness believes that regulation of cryptocurrencies is much more effective than banning them, and Central Bank digital currencies can become an alternative to stablecoins. Mairead McGuinness stated that cryptocurrencies and related financial products are already “not going anywhere”, so they should be strictly regulated. At the same time, people investing in them must exercise extreme caution and carefully assess the risks associated with them. According to McGuinness, investing in cryptocurrencies is…

BitMEX co-founders Arthur Hayes and Benjamin Delo plead guilty to violating AML rules

Cryptocurrency News

BitMEX co-founders Arthur Hayes and Benjamin Delo pleaded guilty to using the platform for money laundering and agreed to pay a $10 million fine. In October 2020, the U.S. Commodity Futures Trading Commission (CFTC) accused BitMEX CEO Arthur Hayes, exchange co-founder Benjamin Delo, and other marketplace executives of illegally doing business in the U.S., as well as violating KYC rules. and AML. According to a Justice Department statement, BitMEX illegally served US customers between September…