a sort of electronic or virtual money It functions as regular money, such as dollars, pounds, euros, yen, and so on. However, it has no physical counterparts — banknotes or coins that can be carried about — and hence exists only in electronic form.
The global cryptocurrency market is expected to grow from $2.1 billion in 2024 to $5 billion by 2030, as reported by ResearchAndMarkets.com. This growth is driven by the rise of DeFi platforms, digital wallets, and blockchain technology integration, with a projected compound annual growth rate (CAGR) of 15.4%. The cryptocurrency ...
Prominent Saudi economist Ihsan Buhulaiga has urged the Gulf Cooperation Council (GCC) countries to implement unified cryptocurrency regulations. According to a report by AGBI, Buhulaiga, a former member of Saudi Arabia’s Shura Council, warned that without coordinated policies, cryptocurrency traders might relocate their investments to countries with more favourable regulations, ...
Three Russian nationals, Roman Vitalyevich Ostapenko, Alexander Evgenievich Oleynik, and Anton Vyachlavovich Tarasov, have been charged by a U.S. federal grand jury for their roles in running cryptocurrency mixing services Blender.io and Sinbad.io. These platforms allegedly facilitated money laundering for cybercriminals, including ransomware attackers and hackers linked to state-sponsored groups. ...
The People's Bank of China recently released its China Financial Stability Report 2024, which offers a detailed analysis of global cryptocurrency regulations, focusing on Hong Kong's regulatory progress. The report highlights increased global regulatory oversight of crypto assets following market disruptions in 2022. In 2023, the cryptocurrency market rebounded to ...
A recent survey by the Federal Deposit Insurance Corporation (FDIC) reveals that in 2023, cryptocurrency usage was significantly more prevalent among underbanked households compared to fully banked households in the U.S. The FDIC's report published on November 12 surveyed approximately 60,000 households and found that 6.2% of underbanked households—those with ...
A recent study by Crypto ISAC indicates that despite the widespread belief that cryptocurrencies are the primary tool for unlawful transactions, cash remains the top choice for criminals involved in illicit finance. Unlike blockchain transactions, which leave an immutable trail, cash transactions are more complex to trace due to the ...
Gemini has announced its withdrawal from the Canadian market, giving users until December 31, 2024, to withdraw their funds. This decision comes in response to increasingly stringent regulatory requirements imposed by Canadian financial authorities aimed at enhancing oversight of crypto exchanges and protecting investors. The U.S. headquartered crypto exchange informed ...
Taiwan's Financial Supervisory Commission (FSC) has approved professional investors to utilize local brokers to access foreign crypto exchange-traded funds, according to a press release on September 30, 2024. The latest policy revision allows professional investors to invest in foreign virtual asset ETFs by delegating their investment decisions or management to ...
Vice President Kamala Harris made her first public statement about cryptocurrency while recently campaigning for the U.S. presidency at a Wall Street fundraiser in Manhattan since becoming the Democratic Party's top presidential candidate. According to a report by Bloomberg on September 23, 2024, Vice President Kamala Harris has pledged to ...
Millions of potential Australian crypto investors are currently "sitting on the sidelines," waiting for more straightforward regulations around the market, according to a new report from local crypto exchange Swyftx. The report, based on a survey of 2,229 adult Australians, provides insights into the current state of crypto adoption and ...
