Global payment giant PayPal continues expanding its digital asset services, integrating new methods to sell cryptocurrencies like Bitcoin (BTC). PayPal on Sept. 11 officially introduced new on and off ramps for Web3 payments, allowing users in the United States to convert their crypto to USD directly from their wallets into their PayPal balance. According to…
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Binance.US has responded to the motion to compel and reply by the United States Securities and Exchange Commission (SEC), calling most of the SEC’s requests “unreasonable” and “unduly burdensome.” Attorneys of BAM Trading Services, which operates Binance.US cryptocurrency exchange, on Sept. 12 filed sealed documents for opposition to the U.S. SEC seeking additional details from…
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The United States regulators have finally taken steps to resolve an enforcement case against the collapsed Mirror Trading International (MTI). The United States District Court for the Western District of Texas has ordered MTI to pay $1.7 billion in restitution to victims for operating a fraudulent scheme involving digital assets and forex, the Commodity Futures…
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Gleb Kostarev, Binance’s head of Eastern Europe and Russia, took to Facebook on Sept. 6 to announce its departure from Binance. In his Russian-language announcement, Kostarev said that today marks the last day of his long-running work at Binance, adding: “I am stepping down as VP responsible for Eastern Europe, CIS, Turkey and Australia and…
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Cryptocurrency exchange Coinbase has rolled out a crypto lending service for institutional investors in the United States, reportedly aiming to capitalize on massive failures in the crypto lending market. Coinbase has quietly launched an institutional-grade crypto lending platform, Coinbase Prime, to U.S. investors, according to a Bloomberg report on Sept. 5. Coinbase Prime is a…
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Central bank digital currencies (CBDC) and blockchain technology are likely to displace traditional banks, according to a lawmaker in Russia. Anatoly Aksakov, head of Russia’s parliamentary financial committee and a major skeptic of Bitcoin (BTC), has predicted that the traditional banking system will “fade away” with the adoption of the digital ruble, the local news…
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₿trust, a non-profit organization funded by Twitter (now X) co-founder and Bitcoin (BTC) advocate Jack Dorsey, is scaling up its programs in Africa with a new acquisition. The non-profit has acquired Qala, an organization dedicated to training Bitcoin and Lightning engineers in Africa. The acquisition will help ₿Trust succeed on its mission to drive the…
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The legal industry has emerged as a major winner amid cryptocurrency collapses like FTX and Celsius, generating hundreds of millions of dollars for lawyers. Lawyers, accountants, consultants, analysts and other professionals have collected at least $700 million in fees from the bankruptcies from major crypto firms over the past year, according to a report and…
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One of the largest South Korean banks, Korea Exchange Bank (KEB Hana Bank), is moving to offer digital asset custody services through a new partnership with major cryptocurrency custody firm BitGo Trust Company. KEB Hana Bank has signed a strategic business agreement with BitGo to jointly establish digital asset custody in South Korea, the local…
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Australia’s Senate Committee on Economics Legislation has finally provided feedback to the cryptocurrency bill introduced by senator Andrew Bragg. The committee on Sept. 4 reported on the draft bill referred to as “The Digital Assets (Market Regulation) Bill 2023,” asking the bill authors to add some amendments. The Senate particularly concluded that it would pass…
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