Category Archives: Cryptocurrency News

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

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

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

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

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

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”

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

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…

Government of Canada will unlock accounts and cryptocurrency wallets of the “Convoy of Freedom”

Canadian Prime Minister Justin Trudeau has repealed the Emergency Situations Act, introduced last week to deal with the Freedom Convoy protest group. As Justin Trudeau stated in a press release, “the situation is no longer an emergency and existing laws and regulations are sufficient.” Isabelle Jacques, Assistant Deputy Treasury Secretary of Canada, told a parliamentary committee that “financial institutions are unfreezing accounts and the vast majority of accounts.” Recall that earlier the Royal Canadian Mounted…

The FBI is looking for a software provider to track cryptocurrency transactions

The US Federal Bureau of Investigation is looking for a private provider of analytics software to track crypto transactions related to illegal activities. As part of the contract, the FBI is looking for a private provider of analytical software that can provide access to the relevant tool and ensure the integration of this software with the department’s systems. The contract with the supplier is planned to be concluded on March 25 this year. The term…

Мexican congresswoman proposed to legalize bitcoin in the country

Senator Indira Kempis of the Mexican state of Nuevo Leon suggested that Mexico follow the example of El Salvador and accept bitcoin as a means of payment. Indira Kempis, a member of the opposition Movimiento Ciudadano (Civil Movement) party, believes that bitcoin has many advantages and can benefit people who do not have bank accounts. She said that she had already consulted with people who understand this crypto asset, and now intends to use her…