Two cryptocurrency platforms face allegations of fraud by Washington State’s Department of Financial Institutions. Both companies allegedly lured investors with promises of huge returns, but later blocked withdrawals and demanded extra fees. An investor lost $ 64,000 to one platform after being asked for a “safety reserve” fee. The platforms are accused of exploiting …
Nubank, the Latam-focused fintech company, recently lowered its cryptocurrency trading fees from 0.8% to 0.6% for each transaction completed. The platform allows for purchasing and selling 15 different cryptocurrencies, including bitcoin (BTC), ether (ETH), solana (SOL), and the USDC stablecoin, among others. Nubank has been lowering its trading rates since last year when it charged […]
Proposed over two years ago, the law recognizes cryptocurrency as virtual assets in the country, establishing the Central Bank of Uruguay as the regulator and overseer of companies seeking to offer cryptocurrency services. The law positions Uruguay at the forefront of Latin American countries that have already included crypto in their regulatory frameworks. Uruguay Enacts […]
Ohio State Senator Niraj Antani has introduced a bill to legalize cryptocurrency payments for state and local taxes. Emphasizing the importance of cryptocurrency in the present economy, the bill requires Ohio to accept digital currencies like bitcoin and allows state retirement systems to invest in them. Antani highlights Ohio’s historical role in cryptocurrency adoption. Ohio […]
According to data from the Central Bank of Brazil, purchases of cryptocurrency made abroad have soared this year, surpassing the numbers registered in 2023. These purchases, considered imports, have reached $ 12.37 billion year-to-date, exceeding the total crypto purchases of 2023. This indicates that exchanges and trading platforms are preparing to accommodate a large …
A Bloomberg analysis found that cryptocurrency and stock markets have shown a high correlation after the latest set of Federal Reserve interest rate cuts. According to analysts, this related movement would be the result of the macroeconomic variables taking control of the markets and should continue in the near term. Not Uncorrelated: Stocks and Cryptocurrency […]
A survey conducted by Rico, an investment platform in Brazil, revealed young investors’ preference for cryptocurrency as an investment tool. According to the results, 34.6% of all investors aged 24 to 35 held crypto in their portfolios, making it the fourth most popular investment behind savings, fixed-income products, and stocks. Young Investors in Brazil Have […]
The adoption of cryptocurrency, especially Bitcoin, for remittances has failed to surge in El Salvador, even with the support of President Nayib Bukele’s administration. According to data provided by the Central Reserve Bank, only 1.1% of all remittances sent to the country from January to August 2024 include cryptocurrency. Report: Adoption for Remittances Reach Only […]
The U.S. Department of Justice (DOJ) has sentenced 12 individuals for a series of violent home invasions aimed at stealing over $ 3.5 million in cryptocurrency. The group’s leader received 47 years in prison, while his accomplice was sentenced to 20 years. “The victims were held at gunpoint in their home,” the DOJ stated, …
The Commodity Futures Trading Commission (CFTC) has partnered with several organizations, including the Securities and Exchange Commission (SEC), to educate the public about cryptocurrency scams, especially those involving fake romantic relationships. These partnerships aim to help consumers recognize and avoid these “pig butchering” scams, which defraud victims by building false trust and promoting fake cryptocurrency […]
Three former servicemen in India have lodged a complaint with the Chandannagar police, Pune, accusing eight officials from a trading firm of defrauding them of over Rs. 79.81 lakh (approximately $ 96,000) through a cryptocurrency scam since 2022. The ex-servicemen had invested their retirement savings in cryptocurrency, lured by promises of doubling their investment …
Changenow has announced a strategic partnership with Zano Project, integrating the $ ZANO cryptocurrency into its platform. This collaboration aims to expand the variety of digital assets available for exchange on Changenow, providing users with more options for seamless and secure transactions. Changenow is a non-custodial cryptocurrency exchange known for its fast, unlimited cross-chain …
Coinflip has officially launched its digital currency kiosks, otherwise known as automated teller machines (ATMs), in Mexico, marking its second expansion in North America. The latest expansion follows the company’s entry into the Canadian market in 2022. Coinflip Introduces Digital Currency Kiosks in Mexico Coinflip, a U.S.-based digital currency platform, has introduced its crypto ATM […]
Thailand has extradited Malaysian businessman Tedy Teow, also known as Zhang Yufa, to China over a massive cryptocurrency scam amounting to more than 100 billion yuan (US$ 14 billion). This marks the first extradition under the Thailand-China treaty since 1999. Teow, the founder of MBI Group, is accused of running a pyramid scheme that …
The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper, scheduled for release between September and October 2024, will seek input from stakeholders to gather feedback on effective regulation. India is emphasizing the importance of international […]