U.S. Federal Reserve issues norms for banks considering crypto activities

U.S. Federal Reserve issues norms for banks considering crypto activities
The U.S. Federal Reserve has recently released new guidelines for banks considering activities including cryptocurrencies, highlighting that firms must notify Fed in advance and ensure that whatever they do is under compliance. The Fed also urged the state members to notify their regulators before engaging in any crypto activities. According to a statement issued by Fed, cryptocurrencies offer massive opportunities to banks. Still, firms mu

BORANETWORK, Kako Games outline expansion plans during KBW2022

BORANETWORK, Kako Games outline expansion plans during KBW2022
BORANETWORK, a digital platform for industrial enterprises, recently held a conference for BORA in the Korea Blockchain Week 2022 (KBW2022), the largest blockchain event in Asia. At the event, BORANETWORK and partner Kakao Games demonstrated the business status of BORA along with the future expansion plans. This expansion will be done in collaboration with Polygon, Ethereum scaling and infrastructure development, to the media under the theme,

Binance and WazirX ownership dispute puts 15 million users in a fix

Binance and WazirX ownership dispute puts 15 million users in a fix
The public feud between India’s cryptocurrency platform WazirX cofounder Nischal Shetty and Changpeng Zhao, CEO of the Seychelles-based firm Binance, has reportedly affected nearly 15 million of the Indian crypto exchange's registered users (as of August). According to sources, an ownership conflict with the biggest crypto exchange based on volume in the world is currently being investigated by Zanmai Labs, which runs WazirX in India

SEC accuses 11 individuals in $300M crypto pyramid and Ponzi scheme

SEC accuses 11 individuals in $300M crypto pyramid and Ponzi scheme
The US Securities and Exchange Commission (SEC) has reportedly indicted 11 individuals for their roles in developing and promoting a fraudulent Blockchain networking platform, Forsage, and a Ponzi scheme that recently secured around $300 million from several retail investors worldwide, including in the US. The people charged included four founders of Forsage, who were earlier said to be living in Russia, Indonesia, and the Republic of Georgia,

Columbia issues a draft on crypto regulation; seeks public opinion

Columbia issues a draft on crypto regulation; seeks public opinion
Colombia's Financial Superintendence has recently published a draft regarding crypto regulation. As per credible sources, the draft treats several issues related to cryptocurrencies comparable to what other countries have treated. Additionally, the financial regulator pursues to consider the opinion of the country's citizens about the draft. As contemplated, the draft massively considers control measures against funding the terroris

Tesla retracts Bitcoin shares post crypto havoc, sells majority stake

Tesla retracts Bitcoin shares post crypto havoc, sells majority stake
American automotive giant, Tesla Inc. has reportedly sold a massive portion of its stake in Bitcoin, a breakthrough investment that supported the legitimization of the largest electronic currency in the world. As a part of the company’s earnings report, Tesla drafted a shareholder letter this week, stating that so far until the end of Q2, 2022, the automaker has converted approximately 75% of its Bitcoin investment into fiat currency.

Egypt’s Remooz rolls out smart NFT marketplace ‘Remooz NFT’

Egypt’s Remooz rolls out smart NFT marketplace ‘Remooz NFT’
Remooz Inc., a hyperledger fabric powered NFT marketplace and blockchain provider, has announced the soft launch of the Remooz NFT marketplace on its platform at remooz.com. The smart NFT marketplace offers a highly accessible, easy-to-use, and socially engaging platform that allows users to trade digital assets in the form of U.S. dollars, Utility NFTs, and in an e-commerce fashion, promoting the future of NFTs. For those unaware, the mark

G20 regulator FSB to announce new crypto regulations in October 2022

G20 regulator FSB to announce new crypto regulations in October 2022
The Financial Stability Board (FSB), a body of regulators and central bankers from the Group of 20 economies (G20), has recently issued a statement on the regulation & supervision of crypto asset activities worldwide. The G20 watchdog said that it is devoted to encouraging global consistency of supervisory and regulatory approaches among national and international standard setters as organizations work to develop technology-neutral, risk-b

Cryptocurrency lender Nexo eyes acquisition of fellow lender Vauld

Cryptocurrency lender Nexo eyes acquisition of fellow lender Vauld
Nexo, the all-in-one cryptocurrency platform, is planning to take over fellow lender Vauld, a move that indication its attempts to strengthen its position in the digital currency industry which is extremely volatile at present. Nexo seems to be interested in buying up to 100% of Vauld to boost its future operations which will allow the London-based crypto lender to proliferate its presence in the Asian market. The industry continues to wait fo