According to a local report, Miri authorities have successfully shut down an illegal cryptocurrency mining operation on Borneo's island after a tip-off from the public. The authorities acted promptly upon receiving the tip-off. They conducted a raid and successfully confiscated all equipment related to the illegal mining operation, including 34 ...
South Korea has taken a significant step to combat the alarming surge in criminal activities within the nation's cryptocurrency market and address the lack of legal protections for investors. On July 26, 2023, the country's Supreme Prosecutor Office (SPO) established the Joint Investigation Centre for Crypto Crimes, an interagency team ...
In a groundbreaking ruling on July 25, 2023, Judge Philip Jeyaretnam of the High Court of Singapore declared that cryptocurrencies are legally considered a form of property that can be held in trust. The ruling came in response to a case brought by ByBit against its former employee, Ho Kai ...
The Vermont Department of Financial Regulation (DFR) has issued a warning to residents in the State about the increasing prevalence of cryptocurrency fraud on social media platforms. In a recently released report, the agency highlighted the urgent for caution while using social media and shared the unfortunate experience of a ...
The Financial Stability Board (FSB) of the G20 has recommended a global regulatory framework for crypto-asset activities. This framework is a response to the G20's request for an effective regulatory, supervisory, and oversight framework for cryptoassets like Bitcoin. In their recent publication on July 17, 2023, FSB noted that strong ...
The Indonesian government is making progress in its efforts to establish a national cryptocurrency exchange. According to a local report, Indonesia's Commodity Futures Trading Supervisory Agency (CoFTRA), also known as Bappebti, is set to establish the country's inaugural cryptocurrency exchange in July 2023. Didid Noordiatmoko, the head of Bappebti, stated ...
A coalition of U.S.-based financial industry organizations has united to oppose a draft bill proposed by the U.S. House Committees on Financial Services and Agriculture concerning the structure of the cryptocurrency market. The coalition, which comprises 21 organizations, including Americans for Financial Reform and the Center for Responsible Lending, co-signed ...
Israel is considering exempting foreign residents from capital gains taxes on the sale of digital currency in a move designed to attract foreign investors and stimulate the local economy. The Israeli Knesset passed an initial reading of a bill on July 5, 2023, which seeks to provide tax advantages to ...
According to data from RootData, a crypto data analytics platform, venture capital investments in cryptocurrency firms have experienced a significant decline of over 70% within the last 365 days. The sharp decline stands in stark contrast to the sector's performance in the previous year. In June 2022, there were a ...
Simon Callaghan, the newly appointed CEO of Blockchain Australia, has called for collaboration between Australia's banks, government, and the cryptocurrency sector to combat the rising threat of cryptocurrency fraud. Speaking on June 30, 2023, during the closing day of Australian Blockchain Week in Melbourne, Callaghan announced that the organization's top ...
