The FTX affair continues to unravel. Sam Bankman-Fried, the former CEO of the failed crypto exchange, will be held in jail through the end of his two upcoming trials. Judge Lewis Kaplan ordered the revocation of the entrepreneur’s $250 million bail following The New York Times report about his alleged attempt to intimidate witnesses. Bankman-Fried…
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Since January 2020, almost three hundred crypto companies have applied for registration with the principal financial regulator of the United Kingdom, the Financial Conduct Authority (FCA). Only 13% of them successfully obtained a permit to operate in the country. On August 11, the FCA published a response to a right-to-know request, whose author remains unnamed.…
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The Royal Canadian Mounted Police (RCMP) is seeking a digital asset solution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens (NFTs). According to an announcement, a tender was opened for applications on Aug. 10 for a solution to store seized digital assets: “The development of a centralized repository solution would allow police…
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Indian citizens might soon have the option to sign documents digitally through crypto tokens. The feature is envisaged as part of a project to develop a national web browser spearheaded by the Ministry of Electronics and Information Technology. On Aug. 9, the ministry announced the launch of the Indian Web Browser Development Challenge, which hopes…
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In France, amendments to the existing crypto regime will come into effect next year to align national regulations with the pan-European framework set by Markets in Crypto-Assets (MiCA). The Autorité des Marchés Financiers (AMF), France’s principal financial authority, announced the provisions of its General Regulation and its policy on digital asset service providers (DASPs) to…
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Canadian law enforcement has started using specialized software to trace crypto while investigating cybercrimes. Police now have the ability to trace blockchain transactions, identify suspects and determine where funds have been deposited. As revealed by local police to the Lethbridge Herald newspaper, the police forces are already enjoying access to Chainalysis Reactor software. The program…
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According to South Korean news outlet Chosun Biz, Jinwook Shin, the CEO of crypto exchange Bitsonic — who is under investigation for stealing investments and deposits from exchange users — was arrested by South Korean police on Aug.7. The vice president of Bitsonic will also be put on trial without preliminary detention. According to prosecutors, from January…
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Normally, the numerous reports published by the Financial Stability Board (FSB) don’t contain particularly bold suggestions. The international monitoring body, comprised of financial authority representatives from the 20 largest economies of the world (G-20), the FSB limits its scope to risk analysis, not bothering itself with a global vision for economic development. However, the latest…
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The United Kingdom government could rebalance the power between the Bank of England (BoE) and the country’s principal financial regulator, the Financial Conduct Authority (FCA), in the former’s favor, according to a 40-page consultation response published by His Majesty’s Treasury on Aug. 7. The British government launched the consultation under the headline “Payments Regulation and the…
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Brazilian central bank digital currency (CBDC), previously commonly referred to as “digital real”, gets its official brand name. It would be called Drex. On August 7, the Central Bank of Brazil issued a press release, revealing and explaining the new brand for its CBDC. Developed by the Central Bank, the brand “Drex” is an acronym:…
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