There are more than 1,400 DApps in operation and their number is growing rapidly, according to a United States Federal Reserve Board discussion paper dated in June but released on Aug. 30. Ethereum is their biggest host with 470, or 31%, of them. Those decentralized finance (DeFi) products represent a very small share of the…
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Authorities with South Korea’s customs service have reportedly arrested 16 people involved in illegal foreign exchange transactions connected to crypto assets worth roughly $2 billion. According to a Tuesday report from South Korean news agency Newsis, the country’s customs authorities plan to prosecute two unnamed individuals linked to the illicit transactions, impose fines on seven…
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Venture capital firm Andreessen Horowitz (A16z) announced Wednesday that it had devised a set of six licenses tailored to nonfungible tokens (NFTs) and based on the model pioneered by Creative Commons. Like Creative Commons licenses, there is a range of rights available through a variety of the proposed NFT licensed, titled Can’t Be Evil licenses.…
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Hardware walletcompany Trezor is moving to enable direct crypto purchases with a new partnership with the crypto fintech startup MoonPay. Trezor, Czech Republic-based hardware wallet provider, has partnered with MoonPay to allow its customers to buy crypto directly in their hardware wallet, according to an announcement on Wednesday. Backed by major industry investors including Tiger…
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Mt. Gox trustee Nobuaki Kobayashi released updated information on Wednesday regarding the rehabilitation plan for creditors of the long-defunct crypto exchange. According to the file, the restriction reference period starts on September 15. During the phase, “the assignment, transfer or succession, provision as collateral, or disposition by other means of rehabilitation claims are prohibited.” Kobayashi…
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Bitcoin (BTC) price has been trying to change course while the S&P 500 is still giving up gains on a daily basis. Even though the United States equities markets have been grinding lower since Aug. 26, Bitcoin has managed to hold on to the $20,000 mark. However, investor interest seems to be shifting away from…
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Karl Racine, Attorney General for the District of Columbia in the United States, has announced that his office has sued business intelligence firm MicroStrategy and its co-founder Michael Saylor for charges related to tax evasion. In a Wednesday Twitter thread, Racine announced a lawsuit against MicroStrategy and its previous CEO Michael Saylor, claiming that he…
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Studies show that most people who attempt to wash trade nonfungible tokens (NFTs) are unprofitable. But that doesn’t stop them from trying, which makes it a glaring regulatory and enforcement issue for the industry. In wash trading, manipulators buy and sell an asset between themselves to create the appearance that the asset is in higher…
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Christopher Hamilton, a British national allegedly connected to Cryptoqueen’ Ruja Ignatova’s cryptocurrency scheme OneCoin, reportedly faces extradition to the United States on charges related to a scam going back to 2014. According to a Tuesday report from legal news outlet Law360, a judge in the United Kingdom will allow the process to move forward for…
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The Ethereum network will be able to withstand censorship risks both in the short and long term, according to Ethereum community member and investor Ryan Berckmans. The ban of Ethereum-based privacy tool Tornado Cash by U.S. authorities earlier this month left many wondering whether Ethereum transactions could be also at risk of censorship, especially after…
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