The FBI has issued a warning about new cryptocurrency scams involving fake law firms. These scams target unsuspecting investors by creating phony legal entities to lend an air of legitimacy and trick victims into parting with their digital assets. The Bank for International Settlements (BIS) has called on central banks to “raise their game” on...
Platforms
NFT Issuers in Korea Must Register as Virtual Asset Operators Under New Law
Starting July 19, a new Korean law will mandate that companies issuing certain types of NFTs register as virtual asset operators. This requirement is part of the Korean Virtual Asset User Protection Act, which aims to regulate NFTs that feature large-scale issuance, divisibility, or use as a means of payment. The Financial Services Commission (FSC)...
Binance Users Can Now Purchase Crypto with Mastercard Again
Binance, a leading cryptocurrency exchange, has announced the reinstatement of Mastercard payments for crypto purchases on its platform. This move allows users to make cryptocurrency purchases using their Mastercard, although withdrawals are not yet available. The restoration of Mastercard services comes after the payment provider reconsidered its position on Binance, having previously halted services in...
Bitcoin Miners Embrace AI as Mining Revenues Tank 50% in May
Bitcoin miners are increasingly turning to artificial intelligence (AI) for additional revenue streams. On Monday, Core Scientific signed a 12-year deal with cloud AI firm CoreWeave to host the company’s high-performance computing (HPC) operations. This partnership builds on a previous agreement from 2019 between Core Scientific and the Nvidia-backed AI company. Under this arrangement, the...
Blockchain Association and Crypto Freedom Alliance File Lawsuit Against SEC Over Dealer Rule
Today, the Blockchain Association and the Crypto Freedom Alliance of Texas launched a legal challenge against the SEC, contesting the agency’s expanded definition of “dealer” within the cryptocurrency sector. Filed in the Northern District of Texas, the lawsuit argues that this redefinition could significantly impair the U.S. crypto industry, asserting that the SEC overstepped its...
Tether Boosts Bitcoin Holdings with $618 Million Purchase
Tether, the entity behind the widely-used USDT stablecoin, has significantly increased its Bitcoin investment, purchasing 8,888 BTC valued at $618 million on March 31. This strategic acquisition escalates Tether’s Bitcoin reserves to more than 75,000 BTC, equivalent to around $5.2 billion, positioning Tether as the seventh largest Bitcoin holder globally. This move underscores Tether’s commitment...
Security Breach at Binance-Incubated NFPrompt Causes Token Value to Drop
NFPrompt, an AI-driven platform for art and NFT trading, backed by Binance, has experienced a significant security breach, resulting in a notable downturn in its associated token’s value. The FBI is currently investigating the incident, which involved unauthorized access to the NFPrompt treasury, user accounts, and administrator wallets. Following the attack, the NFPrompt team took...
Nigeria Requests User Data from Binance Amid Ongoing Regulatory Dispute
In a move that escalates the ongoing conflict between the Nigerian government and cryptocurrency exchange Binance, officials have demanded detailed transaction records for the country’s top 100 users over the last six months. This request, which also seeks information on Binance’s compliance with tax obligations, signifies an intensification in the scrutiny faced by the global...
Deutsche Börse Introduces Institutional Crypto Trading Platform
Deutsche Börse has announced the establishment of the Deutsche Börse Digital Exchange (DBDX), aimed at providing a spot trading platform for crypto assets to institutional clients. This development introduces a regulated environment for the trading, settlement, and custody of crypto assets, leveraging Deutsche Börse’s network to facilitate access to digital asset markets. The platform is...
SEC’s Social Media Account Hacked in SIM Swap Incident
Unauthorized Post Triggers Bitcoin Frenzy, Raises Cybersecurity Concerns A recent cybersecurity incident involving the US Securities and Exchange Commission (SEC) has raised significant concerns. The SEC’s social media account on X was compromised due to a SIM swap hack, leading to the spread of false information regarding the approval of new bitcoin investment products. This...