A new bill has been introduced to the Australian parliament proposing regulations for the provision of cryptocurrency services in the country. Senator Andrew Bragg submitted a private senators’ bill titled Digital Assets Bill 2023 to ‘protect consumers and promote investors’, which includes regulatory recommendations for stablecoins, licensing of exchanges and custody requirements. Proposed regulatory changes…
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European Union lawmakers have adopted new draft legislation imposing a 1,000 euro ($1,083) cap on anonymous crypto transfers to combat money laundering and terrorist financing. According to a European Parliament statement published on March 28, the limit would apply to a crypto asset transfer when a customer can’t be identified. Cash transactions will also be…
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Bitcoin (BTC) headed back to $28,000 on March 29 as a classic short squeeze took the market to five-day highs. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC liquidations mount as Bitcoin reverses Binance dip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $28,159 on Bitstamp. The abrupt uptick came courtesy of exchanges…
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The rollout of The Bank of Russia’s central bank digital currency (CBDC) pilot is being delayed indefinitely. However, participating banks have stated their readiness to begin the testing. As reported by the state-owned TASS on March 28, the CBDC pilot won’t start on April 1, as previously announced, because specific legislation has only passed through the…
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Mike Novogratz, the CEO of digital asset investment firm Galaxy Digital told investors he is shocked over the amount of regulatory attention for crypto rather than artificial intelligence (AI), a technology he believes will trigger a “deep fake” identity crisis. The chief executive explained at the firm’s fourth-quarter conference call on March 28 that the…
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Signature Bank’s cryptocurrency clients have been reportedly given until April 5 to take their funds out and find another bank, or have their accounts closed by the federal regulator. According to reports, a United States Federal Deposit Insurance Corporation (FDIC) spokesperson said on March 28 that the agency was “reaching out to depositors from Signature…
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Massachusetts Senator Elizabeth Warren is once again smearing the cryptocurrency industry and attempting to make Americans more dependent on big banks. Warren vowed in February to reintroduce the Digital Assets Anti-Money Laundering Act, a proposal that went nowhere when she first introduced it with Kansas Senator Roger Marshall in December 2022. While the proposal’s stated…
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The North Korean cybercrime operator APT43 is using cloud computing to launder cryptocurrency, a report from cybersecurity service Mandiant has found. According to the researchers, the North Korean group uses “stolen crypto to mine for clean crypto.” Mandiant, a Google subsidiary, has been tracking the North Korean Advanced Persistent Threat (APT) group since 2018 but…
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The price of Bitcoin (BTC) fell 3.6% to $26,900 after Binance and CEO Changpeng “CZ” Zhao were sued by the United States Commodity Futures Trading Commission (CFTC) on March 27. To date, Binance has been investigated by the CFTC, the US Securities and Exchange Commission (SEC), the Internal Revenue Service and federal prosecutors. The Bitcoin…
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The United States Senate Banking Committee held a hearing March 28 on the regulatory response to recent bank failures. Officials from the Federal Deposit Insurance Corporation (FDIC), Federal Reserve and Treasury testified. FDIC chair Martin Gruenberg spoke about the causes of the failures of Silicon Valley Bank (SVB) and Signature Bank, including the role of…
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