Tag Archives: AA News

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against Rashawn Russell, a former Deutsche Bank investment banker, in the US District Court for the Eastern District of New York. The filing alleges that Russell fraudulently solicited retail investors to invest in a digital asset trading fund. He is also being accused of defrauding investors of nearly $1 million in the process. He is being charged with one count of wire fraud by the CFTC....

Government officials have confirmed the city’s crypto commitments at the Hong Kong Web3 Festival this week as it aims to become a fully regulated crypto hub attracting investment and Web3 startups. On April 12, Financial Secretary Paul Chan Mo-po reiterated that appropriate regulations and oversight were of paramount importance. “I believe that everybody has learned from recent events that appropriate regulations are a must to create a sustainable development environment and...

Remittances in Bitcoin and other cryptocurrencies sent to El Salvador fell 17.8% during the first two months of 2023 compared to 2022, according to recent data published by the country’s Central Reserve Bank (BCR) reported by Agencia EFE. As per the statement, El Salvador received a total of $15.98 million in remittances via cryptocurrencies. This amount represents a decrease of $3.47 million compared to the same period during the previous year when the country registered...

Zipmex’s rescue plan could face some challenges as the crypto exchange’s investor is now asking to pay a fraction of its debt, as against the pledge to make a 100% payment. The distressed company is, meanwhile, planning to further extend its creditor protection to seek out new investors. Buyout Proposal for Zipmex Takes a New Turn Zipmex’s investor is proposing to pay the Thai crypto exchange’s creditors about 10 to 20 percent of the amount owed to them, as stated in a letter...

A research conducted by Melbourne’s RMIT University estimated that Australian criminals who have employed cryptocurrencies, such as bitcoin, in their schemes had received harsher sentences than those who used fiat.  The study outlined the role of digital assets on the Dark Web, claiming they are among the main payment methods supported there. Less Mercy to Criminals Using Crypto The analysis reviewed 59 cases involving people who have used cryptocurrencies in their offenses...

On April 13, Solana said that its flagship, security-conscious, crypto-first Android device from Solana Mobile is available to those who pre-ordered. The firm will begin taking new orde1111rs for the device on May 8, it added. The Saga crypto smartphone was originally announced in mid-2022. It stated that the team has been using Saga for months now, along with “hundreds of developers.” Saga will be able to manage and store crypto assets, mint NFTs, and run decentralized...

San Francisco’s law enforcement agents have reportedly detained the 38-year-old tech-consultant and entrepreneur – Nima Momeni – for the alleged murder of Bob Lee (founder of the mobile payment service that allows users to buy and sell bitcoin – CashApp). The incident happened last week when Lee was stabbed to death in the Rincon Hill neighborhood. Numerous prominent individuals, including Twitter’s owner Elon Musk, castigated San Francisco for the violence in the city. The...

The Securities and Exchange Commission (SEC) is furthering its plans to bring crypto exchanges under its regulatory purview – including DeFi exchanges.  The agency has announced that it is reopening an old proposal surrounding consumer protection laws to explicitly put digital asset trading within its scope.  Regulating DeFi Per a press release from the SEC on Friday, the reopening reiterates that existing rules governing securities exchanges also apply to digital asset...

Pierre Wunsch – Governor of the National Bank of Belgium – thinks the European Central Bank (ECB) should keep raising the interest rates to combat the bothersome inflation. The institution lifted the rates to 3.5% in March (the highest since the financial crash in 2008). The Federal Reserve also has a similar strategy in the States, with interest rates currently standing at a range of 4.75% to 5%.  While raising the benchmark aims at limiting the money supply and thus...

The ongoing legal dispute between the United States Securities and Exchange Commission (SEC) and Ripple has taken another turn as the San Francisco-based blockchain company has countered the SEC’s argument regarding its fair notice defense strategy. According to a document filed on April 13, Ripple insisted that the case cited by the SEC did not provide any grounds to dismiss the fair notice defense. The blockchain company also substantiated its claims that the securities...