UK confirms plans to regulate crypto industry with formal legislation

The U.K. government published its response to a consultation paper issued earlier this year, which outlined recommendations on how the crypto industry should be regulated.

UK confirms plans to regulate crypto industry with formal legislation

The U.K. government on Monday confirmed plans to regulate the cryptocurrency industry, announcing in a consultation paper that it will look to bring in formal legislation for crypto activities b...

10 months ago

Crypto exchange Bittrex's U.S. shutdown approved at bankruptcy court

The U.S. arm of Bittrex filed for Chapter 11 bankruptcy protection in May.

Crypto exchange Bittrex's U.S. shutdown approved at bankruptcy court

Crypto exchange Bittrex received court approval for its revised bankruptcy plan to wind down its U.S. operations. A court filing showed that Judge Brendan Shannon, at a ...

10 months ago

Kenya to introduce digital IDs for citizens by year-end

The Kenyan government plans to roll out its digital identification system in December 2023 after the testing period, which will take the next few months.

Kenya to introduce digital IDs for citizens by year-end

The Kenyan government plans to roll out its digital identification system in December 2023 after the testing period, which will take the next few months. According to the president of Kenya, Wil...

10 months ago

Terraform Labs and co-founder Do Kwon have filed a motion for summary judgment against the U.S. Securities and Exchange Commission (SEC), seeking to dismiss allegations of multi-billion-dollar securities fraud.

Do Kwon and Terraform Labs Submit Motion for Case Dismissal against U.S. SEC

This move could prevent a lengthy trial if the judge rules in Terraform’s favor. In the motion, Terraform Labs and Do Kwon assert that the SEC has failed to provide ample evidenc...

10 months ago

Spot Bitcoin ETF Could Attract $3B on First Day and Up To $55B Over Five Years: Analysts

Investors have been eagerly anticipating regulatory approval for a spot Bitcoin ETF, which is expected to trigger a fresh wave of institutional demand in the leading cryptocurrency.

Spot Bitcoin ETF Could Attract $3B on First Day and Up To $55B Over Five Years: Analysts

While estimating the potential cash inflow for such a fund remains a subject of debate among market players, projections range from $3 billion on its first day to a staggering $55 billion over a...

10 months ago

Crypto thief steals $4.4M in a day as toll rises from LastPass breach

Estimates in September revealed that at least $35 million in crypto has been stolen from victims of the LastPass breach since 2022, with the latest hack adding to the toll.

Crypto thief steals $4.4M in a day as toll rises from LastPass breach

At least 25 people have reportedly seen $4.4 million in crypto drained from across 80 wallets due to a 2022 data breach that impacted password storage software LastPass. In an Oct. 27 ...

10 months ago

Thailand’s K-Bank Acquires 97% Stake in Parent Company of Satang Crypto Exchange

K-Bank Acquires Majority Stake for $102 Million

Thailand’s K-Bank Acquires 97% Stake in Parent Company of Satang Crypto Exchange

Thailand’s second-largest bank, Kasikorn Bank, widely known as K-Bank, has acquired a 97% stake in the parent company of the established Satang crypto exchange. This strategic ac...

10 months ago

Standard Chartered-owned crypto firm Zodia launches in Hong Kong

It marks the latest push for the U.K.-headquartered firm into the Asia-Pacific region. Founded in 2020, Zodia Custody helps financial institutions store their crypto securely.

Standard Chartered-owned crypto firm Zodia launches in Hong Kong

Zodia Custody, the crypto security firm owned by British banking giant Standard Chartered, is launching its services in Hong Kong, the company told CNBC exclusively. It marks the ...

10 months ago

Justin Sun’s HTX Reports $98 Million Profit in Q3 2023, Forecasts Strong Performance for Q4

HTX, the crypto exchange formerly known as Huobi Global and owned by Chinese blockchain personality Justin Sun, has announced a profit of $98 million for the third quarter of 2023.

Justin Sun’s HTX Reports $98 Million Profit in Q3 2023, Forecasts Strong Performance for Q4

In a recent post on X (formerly Twitter), Sun claimed that HTX generated $202 million in revenues during the quarter, with expenses totaling $104 million. Despite the challenging marke...

10 months ago

Citadel Securities accused by Terraform of acting in ‘bad faith’ over UST depeg incident

The legal fight between Terraform Labs and Citadel Securities over the 2022 UST stablecoin issue presents a complicated situation filled with accusations, calling for a careful and unbiased review to find out what really happened.

Citadel Securities accused by Terraform of acting in ‘bad faith’ over UST depeg incident

Citadel Securities is caught up in a legal issue with Terraform Labs, connected to the 2022 instability of the stablecoin UST. In a strong response to Terraform’s legal request, ...

10 months ago

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