Day: 22 November 2022

Kenyan legislators have initiated steps to implement cryptocurrency regulation. Yesterday, November 21st, the Capitals Law was amended. The amendments require cryptocurrency owners to provide information about transactions and activities for tax collection purposes. This development was disclosed in a blog post by Business Daily Africa.  The bill will protect consumers ...

According to a recent Reuters report, official property records show that Sam Bankman-Fried, his parents, and senior officials of the now-defunct cryptocurrency exchange spent at least $121 million on at least 19 properties in the Bahamas over the last two years.  FTX Property Holdings Ltd, a subsidiary of the FTX ...

The interim report for Celsius Network has been released by the independent examiner in the company's bankruptcy case. The report demonstrates that the Celsius network had insufficient accounting for customer funds. Celsius network is one of the largest cryptocurrency lenders. It declared bankruptcy in the middle of the year after ...

Genesis protocol, the lending arm of Genesis Global Capital, suspended withdrawals last week. This was due to an influx of withdrawal requests from users and a lack of liquidity.  It was revealed that the firm had requested $1 billion from investors before suspending withdrawals on Wednesday.  Genesis is in a ...

The recently revised privacy policy of Uniswap, a decentralized exchange (DEX), appears to have agitated some community members, who are concerned that gathering and storing user data violates crypto's fundamental principles.  Some community members commented on Uniswap's updated privacy policy and said it was unusual for a decentralized organization to ...

The US Justice Department announced on Monday that two Estonian citizens have been arrested on an 18-count indictment in Tallinn, Estonia, for their alleged involvement in a $575 million cryptocurrency fraud and money laundering conspiracy. Two Estonian Citizens Arrested in $575 Million Cryptocurrency Fraud and Money Laundering Schemehttps://t.co/PLdyf6JSEC — Criminal ...

Bitpanda, an Austrian crypto exchange, announced that it had been granted a crypto license by Germany's financial regulator (BaFin). Bitpanda Asset Management claimed in a press release that it can now independently offer crypto custody as well as proprietary trading for crypto assets for German customers thanks to the license ...

Bitget, a Singapore-based cryptocurrency exchange, has announced the expansion of its operations to Seychelles in order to aid in its global expansion.  To meet user demand and promote company growth, the crypto exchange has updated its recruitment strategy, setting a new target of 1200 employees by the first quarter of ...

Big names in traditional finance have recently thrown their weight behind the crypto industry. The most recent example is Jamie Dimon, CEO of JP Morgan Chase Bank, the largest bank in the United States, registering his new crypto wallet venture as a trademark in the United States. This development was ...

The FTX crash is one of the most powerful shockwaves to hit the crypto industry in 2022. Despite the catastrophic crash, reports indicate that the company's Japanese arm plans to enable withdrawals for its users before the end of the year.  The dramatic collapse of Sam Bankman-Fried's crypto empire is ...