Turkey has unveiled new cryptocurrency regulations aimed at combating money laundering and terrorism financing. Announced during the final week of 2024, the regulations reflect influences from major global frameworks, including Europe’s upcoming Markets in Crypto-Assets (MiCA) bill. Under the new rules, cryptocurrency service providers in Turkey must collect identifying information for transactions exceeding 15,000 Turkish...
The Russian government has approved a comprehensive set of restrictions on cryptocurrency mining, with blanket bans in 10 regions and seasonal limitations in three Siberian territories. The measures, announced on December 24 by the local news agency TASS, will take effect on January 1, 2025, and extend until March 15, 2031. The blanket bans will...
Botswana’s central bank has assessed the country’s cryptocurrency markets as underdeveloped, posing only “minimal” risks to financial stability at present. However, in its Financial Stability Report, the Bank of Botswana emphasized the need for proactive regulations to mitigate potential future risks associated with digital assets. The report highlighted that as the cryptocurrency market becomes increasingly...
The liquidators of the defunct cryptocurrency exchange Cryptopia have started distributing funds to users affected by a hack that occurred nearly six years ago. Grant Thornton, the firm overseeing Cryptopia’s liquidation, announced on December 20 that more than 10,000 verified account holders have begun receiving payouts. Over the past two days, verified holders of Bitcoin...
Computation firm Nexus has reported significant interest in its decentralized supercomputer, drawing over 1.5 million nodes from 187 countries during a recent five-day testnet period. The project aims to aggregate computing power globally from computers and mobile devices to create a “Verifiable Internet.” Nexus raised $25 million in Series A funding in June to support...
Deutsche Bank, Germany’s largest lender, is developing a layer-2 (L2) blockchain solution on Ethereum using ZKsync technology to address compliance challenges in regulated finance. Known as Project Dama 2, the initiative aims to enhance transaction efficiency while integrating robust regulatory safeguards, according to a report by Bloomberg. The L2 solution, part of the Monetary Authority...
The Grayscale Bitcoin Trust (GBTC) has recorded more than $21 billion in outflows since January, making it the only spot Bitcoin exchange-traded fund (ETF) in the United States to post a negative net investment flow. Despite its January 11 launch, GBTC continues to shed millions daily, while other spot Bitcoin ETFs have seen consistent inflows....
Binance has recorded over $24 billion in user deposit inflows so far in 2024, surpassing all other cryptocurrency exchanges combined, according to data from DefiLlama. In a blog post on December 12, Binance attributed the significant growth to rising global adoption of digital assets, regulatory successes, record price milestones, and the launch of spot Bitcoin...
Outgoing Reserve Bank of India (RBI) Governor Shaktikanta Das has outlined a vision for India’s economic future powered by a central bank digital currency (CBDC). On his final day in office on December 10, Das emphasized the transformative potential of the digital rupee, positioning it as a cornerstone of India’s modern economy. In a farewell...
The cryptocurrency sector may face a significant regulatory transformation as SEC Commissioner Hester Peirce, widely known as “Crypto Mom,” unveils a blueprint for reform aimed at fostering transparency and innovation. Her proposals arrive as the U.S. prepares for a shift in leadership, with the incoming Trump administration expected to take a more crypto-friendly stance. Peirce’s...
