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Brazilian Digital Real Passes Public Blockchain Pilot Test With Flying Colors

A tokenized version of the digital real, the Brazilian central bank digital currency (CBDC), has passed a public blockchain pilot test successfully. The test, which was carried out by Mercado Bitcoin, a local exchange, using the Stellar network…

Ceffu (Formerly Binance Custody) to be Custodian of Flynt Finance for Enhanced Asset Security and Off-Exchange Settlement

PRESS RELEASE. Flynt Finance, a cryptocurrency portfolio management platform, has announced a partnership with Ceffu, formerly known as Binance Custody, to provide its clients with enhanced asset storage security and access to its off-exchange…

Mirror Trading International Liquidators Spent More Than $6 million on Lawyers and Investigators

Liquidators of the now defunct bitcoin trading platform, Mirror Trading International have so far used approximately $4.2 million on expenses such as lawyers’ or consultants’ fees. Between Jan. 23, 2023, and the date of their…

Reports Indicate USDT Is Being Used in Venezuela to Facilitate Settlements and to Avoid Sanctions

Some companies in Venezuela are using the stablecoin tether as a way of sidestepping sanctions and settling payments with foreign customers and providers. Local reports indicate that, while the most popular use case for the stablecoin involves its…

Russian Darknet Markets, Ransomware Groups Thrive Despite Sanctions, Report

Russian marketplaces on the dark web have continued to operate despite Western sanctions and efforts to shut them down, according to a report accessing the illicit blockchain space amid the world’s “first crypto war.” Ransomware actors and…

Janet Yellen Says ‘Critical’ to Establish Strong Crypto Regulation — ‘We Haven’t Suggested Outright Banning’

U.S. Treasury Secretary Janet Yellen says “it is critical to put in place a strong regulatory framework” for crypto on the sidelines of the G20 meeting for finance ministers and central bank governors. “We haven’t suggested…

Billionaire ‘Bond King’ Jeffrey Gundlach Warns of ‘Painful Outcomes’ in Next Recession

Billionaire Jeffrey Gundlach, aka the “Bond King,” has warned of “painful outcomes that are coming in the next recession.” Commenting on the Federal Reserve’s attempt to curb inflation, he cautioned: “The more…

Ukraine Raises More Crypto Than Russia in Year of War, Analysis Unveils

The two sides in the bitter conflict in Ukraine have been relying on crypto assets and technology to support their military and humanitarian activities, Elliptic says in a report. According to the blockchain forensics company, the targeted nation…

5 High-Profile Cryptocurrency Implosions Shatter Trust, Wipe out Billions in Value During 2022’s Crypto Winter

2022 was a year of phenomenal cryptocurrency blowouts, as several projects collapsed and many more are on life support after the entire ecosystem was shattered. The fallout from these digital currency projects has not only removed billions of…

BRICS Nations ‘Coalescing Against the Dollar,’ Major Banks Predict More Fed Hikes, Bitcoin Records Large Blocks as Ordinals Gain Currency

In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the U.S. Federal Reserve, creativity…

South Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial Product

In a move seen as a major setback for South Africa, the international financial watchdog, the Financial Action Task Force, announced on Feb. 24 that it had added the country to its “grey list.” Getting grey-listed by the financial…

Lawmakers to Resubmit Russia’s Crypto Mining Bill, Introduce Liability for ‘Gray’ Miners

The draft law legalizing cryptocurrency mining will be resubmitted to Russian parliament which will postpone its adoption, one of its sponsors announced. Members of the lower house are also working on a separate bill that will introduce liability…

Crypto Exchanges Allow Russians to Circumvent Sanctions, Report Alleges

Major crypto exchanges have failed to prevent sanctioned Russian banks and traders from transacting, according to a blockchain forensics report. At least two established coin trading platforms continue to allow Russians to use their bank cards in…

India Asks IMF and FSB for Joint Paper to Help Formulate ‘Comprehensive’ Crypto Policy

India has asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to develop “a synthesis paper” on crypto assets as part of the G20 meeting of finance ministers and central bank governors under India’s…

Over 200 Jurisdictions Agree on Timely Implementation of FATF Crypto Standards

The Financial Action Task Force (FATF) says delegates from over 200 jurisdictions have agreed on “an action plan to drive timely global implementation of FATF standards” on crypto assets. The standard-setting body said many countries…

IMF Calls for ‘More’ Crypto Regulation — Says Banning Should Be an Option

International Monetary Fund (IMF) Managing Director Kristalina Georgieva says crypto needs “more regulation.” She added, “We should not take off the table banning those assets,” if regulation fails or is too slow to…

BUSD Stablecoin Drops from Top 10 Crypto Assets Amid Significant Decrease in Dominance

After Paxos announced that it would no longer mint the stablecoin BUSD, 4.98 billion BUSD stablecoins have been removed from circulation to date. The Paxos-managed stablecoin has also fallen out of the top ten crypto assets by market…

Crypto Market Slides as Total Value Locked in Defi Falls Below $50 Billion Mark

The value of the crypto market has started to slide again after a bullish run-up over the last seven weeks. The total value locked (TVL) in decentralized finance (defi) has slipped below the $50 billion mark to $49.8 billion. The TVL in defi has…

Germany’s DZ Bank to Offer Crypto Custody With Swiss Firm Metaco

The second-largest bank in Germany, DZ Bank, is preparing to become a provider of custody services for crypto assets. The offering will be facilitated by a partnership with Metaco, a Swiss company that specializes in helping financial institutions…