Commonwealth Bank (CBA), a leading Australian bank, has implemented proactive measures to mitigate potential fraud risks associated with cryptocurrency transactions. In an announcement on June 8, 2023, the bank revealed that it will now refuse or subject certain payments to a 24-hour hold when dealing with cryptocurrency exchanges. This decision ...
The U.S. House of Representatives Financial Services Committee has scheduled a hearing to shed light on the digital asset ecosystem and discuss the future of cryptocurrencies in the country. The Committee Chairman, Representative Patrick McHenry, announced this decision on June 6, 2023, via the Committee's Twitter handle. #NEW: Chairman @PatrickMcHenry ...
John Reed Stark, a former director at the United States Securities Exchange Commission (SEC), has issued a warning to social media crypto influencers on Twitter, alerting them to the potential consequences of their actions. Attention all crypto promoters who use social media to manipulate the price of crypto-securities: Fail not ...
The Central Bank of the United Arab Emirates (CBUAE) and the Hong Kong Monetary Authority (HKMA) held a meeting on May 30, 2023, to discuss collaboration in the development of financial technology and cryptocurrency regulations. The goal of this meeting was to strengthen cooperation and provide the groundwork for collaborative ...
The European Systemic Risk Board (ESRB) issued a set of recommendations on May 25, 2023, aimed at preventing potential shocks in the crypto sector from endangering financial stability in the European Union (EU). ESRB's recommendations include implementing rules for investment funds, exchanges, and other businesses dealing with cryptoassets, as well ...
The Federal Bureau of Investigation (FBI) has issued a public announcement warning Americans residing overseas or travelling abroad about a fraudulent crypto job advertisement. On May 22, 2023, the FBI alerted individuals to deceptive employment ads linked to labour trafficking in Southeast Asia. According to the FBI, victims have been ...
Texas has taken a significant step towards implementing legislation that would require cryptocurrency exchanges to maintain reserves sufficient to fulfill customer obligations. The bill, known as State Bill 1666, has passed the Senate and awaits the signature of the state governor to become law. The legislation, which amends the Texas ...
Westpac, one of Australia's leading banks, has initiated the first phase of its trial of scam prevention tools to combat cryptocurrency-related fraud. The bank aims to introduce a set of tools and safety measures that wil help reduce risks and minimize losses associated with crypto and investment scams. According to ...
The U.S. Department of Justice (DOJ) has charged a Russian national named Mikhail Pavlovich Matveev for his involvement in cyber-attacks targeting American infrastructure. Matveev, known by various aliases such as Wazawaka, m1x, Boriselcin, and Uhodiransomwar, is linked to a series of cyber-attacks that affected a wide range of victims in ...
The Federal Reserve Bank of Chicago (FRBC) has published a comprehensive research report explaining the causes and driving forces behind the 2022 cryptocurrency crisis that sparked multiple bank runs and impacted the global financial markets. According to the report, influential account holders, crypto whales on regulated exchanges, and institutional players ...
