Tag Archives: Cryptocurrency News

A court in Montenegro has found Do Kwon guilty of document forgery and has sentenced him to jail. Kwon will remain in custody longer pending the country’s response to an extradition request. CEO and co-founder of Terraform Labs Do Kwon has been found guilty of document forgery and sentenced to a four-month jail term. Kwon was convicted and sentenced by a Basic Court in Podgorica, the capital of Montenegro. Authorities in Montenegro arrested Do Kwon back in March for carrying fake...

The developers led by Mike Neuder opine that a validator set contraction has positive implications for the beacon chain decentralization roadmap, the current p2p layer, and the validators. The Ethereum (ETH) network is best described as art in development amid mainstream crypto and blockchain adoption. With the proof-of-stake (PoS) still young under the beacon chain, the Ethereum core developers continually engage each other on ways to help in the decentralization aspect. Moreover, the...

The Bank of England is progressing with its Britcoin digital currency project as it released results from the Rosalind project, which started in July 2022. As the idea of making cash more decentralized continues to grow in popularity, the CBDC has also been an up-and-coming project in different countries. Britcoin, the name for the Bank of England (BoE) digital currency, is also closer to being launched. The digital currency, which is to be backed by the British Pound, is aimed at...

In a report published June 15, JPMorgan’s analyst Nikolaos Panigirtzoglou said that SEC officials were unsure of Ethereum’s legal status in 2018. Leading American financial services company JPMorgan has highlighted the significant impact of the release of the Hinman documents on Ethereum in an ongoing court case between the United States Securities and Exchange Commission (SEC) and blockchain firm Ripple Labs. According to reports, Hinman’s documents, which include emails tied to former...

Binance has been considering expanding its business to the UK and other regions due to the crackdown on crypto exchanges in the US.  Following its lawsuit with the United States Securities and Exchange Commission (SEC), the global leading digital asset service provider Binance has withdrawn its registration of Binance Markets Limited (BML) with the Financial Conduct Authority (FCA). Markedly, BML is the United Kingdom subsidiary of the global crypto exchange. With these latest...

The traditional firm could dominate the US digital asset space for a long time to come. Asset management firm Fidelity Investments is reportedly planning a major move that can potentially shake the cores of the crypto markets. According to WhaleChart, the firm has two major moves lined up and would be hoping to achieve one or both of them soon. The Monday morning announcement reads: “Fidelity Investments is preparing to apply for a Bitcoin ETF and submit an offer to acquire Grayscale.”...

The official Binance exit from the Netherlands follows the exchange’s inability to secure an official license with Dutch regulators. Binance has announced its exit from the Netherlands. According to an official publication, the world’s largest crypto is leaving the Dutch market as it has been unable to secure a license as a virtual asset service provider (VASP). In the exit announcement, Binance notes it will no longer accept new users in the Netherlands with immediate effect. Also, apart...

Instead of accepting or acknowledging the license return, the commission insists that BlockFi undergo administrative proceedings. The bankrupt crypto exchange was left with no option but to sue Jorge Perez, the Connecticut banking commissioner. BlockFi’s attempts to return its Connecticut money transmitter license have been futile, as the state regulator has repeatedly refused to respond. Instead of accepting or acknowledging the license return, the commission insists that BlockFi undergo...

Following a successful Project Rosalind CBDC test, the BoE is making progress with developing and launching a digital pound. The Bank of England (BoE) is moving closer to launching its Central Bank Digital Currency (CBDC) after its long test project on the potential benefits of the technology. The BoE launched Project Rosalind last year to help decide whether to float a CBDC. The BoE undertook the CBDC project in collaboration with the Bank of International Settlements (BIS) to...

While announcing Coinbase and Cash App as the new partners, Bitkey referred to some information it passed in March. Bitkey, a self-custody Bitcoin wallet app by Jack Dorsey’s Block, is partnering with Cash App and crypto exchange Coinbase (NASDAQ: COIN). The Bitcoin wallet application announced its first two global partners on June 15, noting that it aims to make self-custody more accessible. In addition to enabling customers to purchase, the alliance assures control over private keys....