Coinbase Registration with the CSA Marks its Canadian Expansion Coinbase becomes the largest and first international cryptocurrency exchange to register as a Restricted Dealer with the Canadian Securities Administrators (CSA). A survey finds that 72% of Canadians consider the regulation of cryptocurrency exchanges important, and Coinbase sees significant potential for the crypto market to grow in Canada. Coinbase’s registration in Canada follows similar milestones in France, Spain, Singapore, Italy, Ireland, and the Netherlands over the past year. On April 3, 2024, Coinbase registered as a R ..read more

South Korea Poised to Enhance Crypto Market Integrity South Korean financial authorities will soon introduce stricter guidelines for token listings on centralized exchanges to bolster investor protection and transparency. The new regulations may prevent the listing of tokens from projects with unresolved security issues and require foreign projects to develop localized whitepapers. The Financial Services Commission seeks input from local exchanges to create a comprehensive regulatory framework that balances innovation and investor protection. South Korean financial authorities are set to int ..read more

Google’s Legal Battle Against Deceptive Investment Apps Google sues app developers Yunfeng Sun and Hongnam Cheung for running a “pig butchering” scam, impacting over 100,000 users with 87 fake apps. The fraudulent scheme involved luring victims with fake investment returns, using Google services like Play, Voice, and YouTube, violating their terms. Google’s lawsuit aims to protect its reputation and user safety, following the removal of the scam apps from the Play Store and a history of combating similar frauds. Google launched a lawsuit against two app developers, accusing them of orchestra ..read more

Cautionary Tale in Cryptocurrency: The Thodex Scandal and Its Aftermath Faruk Fatih Özer, CEO of collapsed Thodex, receives a historic 11,196-year prison sentence for crypto fraud. Once a prominent Turkish crypto exchange, Thodex abruptly halted operations in 2021, affecting 400,000 investors. Özer, captured in Albania and extradited to Turkey, faced trial for aggravated fraud and leading a criminal organization, claiming Thodex was merely a bankrupt company. Faruk Fatih Özer, the founder and CEO of the collapsed Turkish crypto exchange Thodex, has been sentenced to 11,196 years in prison. T ..read more

Bitcoin’s Market Resilience: Navigating Supply Scarcity and Price Fluctuations Bitcoin’s exchange supply hits a historic low of $1.79 billion, fostering a scarcity-driven price stabilization of around $67,000. Major exchanges like Coinbase Pro and Binance witness substantial Bitcoin withdrawals, indicating a shift towards long-term holding. Amidst Bitcoin’s price recovery, significant market liquidations occur, suggesting potential for further short-term price movements. Bitcoin (BTC) has recently experienced considerable fluctuations in price and supply, leading to intriguing market behavio ..read more

A Respite in the Storm: March Sees Decrease in Crypto Hacking Losses The cryptocurrency market reported a 48% decrease in hacking losses in March, compared to February. Munchables suffered the most significant breach, with a recovery after the hacker’s exposure. The first quarter of 2024 saw a 17.5% reduction in losses from hacks compared to the same period in 2023. The cryptocurrency market recently experienced a significant decrease in financial losses due to hacks in March 2024. According to PeckShield, a blockchain security firm, losses dropped by nearly 50% compared to the previous mont ..read more

Nadeem Anjarwalla, a prominent figure at Binance, has reportedly escaped custody in Nigeria. He is believed to have left Abuja via a Middle East airline. Binance also acknowledged that Anjarwalla was no longer in Nigerian custody. Nadeem Anjarwalla, a prominent figure at Binance, the world’s largest cryptocurrency exchange, has reportedly escaped custody in Nigeria. Anjarwalla, who holds British and Kenyan citizenship, was detained in Nigeria with another Binance executive over allegations of tax evasion and other offenses. Unleash the potential of leverage trading! Join Bybit today with our ..read more

Crypto firm Copper Technologies transferred digital assets exceeding $4.2 million to a crypto wallet linked to an alleged Russian arms-dealing network member. The firm defended its actions, stating that it adhered to all regulatory standards and sanctions prohibitions in the UK. The incident highlights the challenges faced by financial institutions and regulators in monitoring crypto transactions. A recent investigation revealed that the cryptocurrency firm Copper Technologies transferred digital assets exceeding $4.2 million to a crypto wallet linked to an alleged Russian arms-dealing netwo ..read more

Tether purchases 8,888 Bitcoins for $618 million, becoming the seventh-largest Bitcoin holder worldwide. This move aligns with Tether’s strategy of diversifying its reserves, amid increasing institutional interest in Bitcoin. Tether faces regulatory challenges and maintains a strong stablecoin market presence despite concerns about its dominance. Tether, a company known for its stablecoin USDT, recently made headlines by purchasing 8,888 Bitcoins, valued at $618 million, on March 31, 2024. This significant acquisition elevates Tether’s total Bitcoin holdings to 75,354, making it the seventh ..read more

Russian entities use Tether to bypass sanctions for acquiring dual-use goods, including drone components. Andrey Zverev facilitates these transactions, linking Russian firms to foreign suppliers in the Middle East and China. The U.S. Treasury seeks legislative action to block transactions in stablecoins like Tether used in sanction evasion. The emerging trend of Russian entities using cryptocurrency to bypass Western sanctions has recently gained attention. Key among these developments is the use of Tether, a popular stablecoin, for the purchase of high-tech equipment and weapons parts. This ..read more