Philippines regulators claim that Binance operated as an unregistered entity. Binance to suspend operation in the Philippines. The Philippines authorities directed Google and Apple to eliminate the Binance app from their app stores. In an official communication, the Securities and Exchange Commission in the Philippines issued directive orders to giant tech firms Google and Apple. The SEC ordered Google and Apple to scrap the Binance application from their app stores.  The directive aimed to safeguard Philippine investors from exploitative activities that might lead to financial losses ..read more

Following the launch of Telegram on the Open Network (TON) blockchain, bad players have been seen looming on the platform to steal Toncoin from the token holders. Cybersecurity company Kaspersky uncovered the news concerning the ongoing suspicious activities on Telegram. The security team noted that the criminals employed advanced techniques to drain measurable Toncoin tokens from the global Telegram users. The Kaspersky team regretted that the criminals shifted their focus to Telegram in November last year after Ton attained the desired popularity. Hackers Exploit Telegram to Drain Tonco ..read more

In its recent publication, the US Internal Revenue Service (IRS), in collaboration with tax regulators, unveiled a draft copy of the new Digital Asset Proceeds from Broker Transactions (Form 1099-DA). The new form will be used in 2025-2026 to report the income generated from crypto activities.  The launching of Form 1099-DA will address tax cheats in the digital sector. A review of the IRS guidelines demonstrated that the new tax regime obliged the crypto brokerage firm to prepare Form 1099-DA for all the customers who have purchased or sold their digital assets through their platfor ..read more

The rise in crypto-related crimes has forced the Thai government to take decisive action to restrict the operation of unregistered exchanges. In an April 19 announcement, Thai regulators confirmed that the restrictive measure on noncompliant exchanges addresses money laundering and online crimes.  The new provision compels the Thai Securities and Exchange Commission (SEC) to provide a comprehensive report on unregistered crypto exchanges to the Digital Economy and Society Ministry. Thai Regulators to Ban Unlicensed Crypto Exchanges During the Technology Crime Prevention and Suppression Co ..read more

In Thursday’s court hearing, the Manhattan jury found the renowned crypto trader Avraham Eisenberg guilty of engaging in manipulative practices while overseeing the operation of Mango Markets.  The court claimed that Mr Eisenberg manipulated the prices on the Mango Market in 2022. Eisenberg’s unlawful activities impacted the loss of nearly $110 million in cryptos. The disgraced crypto trader was charged with engaging in commodities and wire fraud that exposed hundreds of Mango users to huge losses. Crypto Trader Avraham Eisenberg Found Guilty for His Involvement in Mango Market Saga Durin ..read more

Tether, the world’s largest stablecoin issuer, USDT, has revealed plans to undergo a significant restructuring that will cement the company at the desired market position. Having gained dominance in the stablecoin industry, the Tether team unveiled its restructuring plans to broaden its product offering to other digital assets.  In an April 18 announcement, the Tether team announced that the restructuring plan will consist of four major divisions: Tether Data, Tether Finance, Tether Edu, and Tether Power.  Tether Announces Four Divisions of its Restructuring Plan Launching the four d ..read more

With the dynamism in the financial sector, young adults have demonstrated a growing interest in crypto assets. In a recent study by Policygenius Financial Planning Survey, the American Generation Z and millennials have shifted their focus to crypto investment.  The research demonstrated that young people prefer crypto to traditional financial assets such as stocks. On the contrary, researchers noted that the older generation invested more in stock than in crypto.  Young Generation Invests More in Crypto Than Stock The study was conducted between October 16 to 19 to examine the crypto ..read more

Following the court ruling on the Sam Bankman Fried case, the defence lawyers plan to challenge Judge Lewis Kaplan’s decision. On Thursday, April 11, the legal team representing SBF filed an appeal notice seeking to challenge their client’s conviction on seven charges.  Also, the defence team will appeal the 25-year sentencing of SBF. The filing was submitted by the renowned attorney Alexandra Shapiro at the US Southern District Court.  Legal Team Representing Former FTX Boss Seeks to Appeal Shapiro lodged his filing weeks after Judge Kaplan ordered Bankman Fried to be arrested for 2 ..read more

In its advanced announcement, the renowned Web infrastructure and crypto mining hardware development company Auradine announced the successful completion of an $80 million funding round. The April 10 series B funding round was led by fast-paced crypto and fintech companies.  The participants included Celesta Capital, Marathon Digital Holdings, StepStone Group, Mayfield Fund and MVP Ventures. Other active participants were Maverick Capital and Top Tier Capital partners. The Auradine team described the Series B funding as an overbooked event with over $200 million in bookings.  Auradin ..read more

In its Monday update, the renowned crypto firm Hashkey revealed plans to launch HashKey Global, a regulated platform that will facilitate the buying and selling of digital assets. The launching of HashKey Global came days after the exchange secured a license to operate in Bermuda as a regulated entity. In an X post dated March 8, the HaskKey team confirmed that the new platform will support trading licensed digital assets globally.  HashKey Obtain Bermuda License The significant milestone will enable HashKey to expand its footprint in viable markets. Initially, HashKey cemented its market ..read more