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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued sanctions on Buy Cash, a digital asset exchange located in Gaza used by Hamas for terror financing. Per a press release published on Oct. 18, the OFAC’s directive imposed sanctions on ten key Hamas members and financial cooperators across Algeria, Sudan, Turkey and Qatar. The treasury department cited a trail of transactions involving Bitcoin as authorities implement policies to choke off illicit funding via crypto . In September 2019, Buy Cash’s Bitcoin wallet received a Bitcoin transfer equivalent to over $2,000. The transfer was facilitated by a Türkiye-based money services business operator and al-Qa’ida affiliate. OFAC press statement The OFAC’s reference to trackable crypto transactions challenges the notion that crypto is a perfect tool for money laundering and terror financing. Such remarks were recently espoused by John Reed Stark, a former chief at the U.S. Securities and Exchange Comm...

Also Read: SOL Price Prediction: Bulls Poised For New Rally, Solana Strengthens Technical Outlook advertisement The USDC Ecosystem Boost Faisal Khan, a crypto influencer, revealed that Circle is going to publish something that reveals details on boosting the USDC ecosystem. This could be a report bringing more transparency to the stablecoin audits and the reserve funds, or a new announcement that could involve a Coinbase-like deal. According to the influencer, Circle Co-founder and CEO Jeremy Allaire will soon publish the USDC update. @jerallaire Going to publish something that you would love for the boost of the USDC ecosystem. Will be sharing the details with you very soon. @Jay_SpendDBits — Faisal Khan (@babushka99) September 4, 2023 Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read ...

A Bitcoin ETF is on the cusp of receiving approval in the United States — and it may not be long before we see one in Hong Kong or elsewhere in Asia. But not everyone’s on board with the crypto ETF train. Critics argue that Bitcoin-linked ETFs could be even worse than centralized exchanges for the crypto market. Their main beef? There’s zero possibility of withdrawing the underlying instrument. This means the holders are never able to take advantage of the single most important feature of Bitcoin: the ability to control their funds without a need to trust anyone. And it’s not just talk. The potential of these investment vehicles is already being realized in markets like Canada. The Purpose Bitcoin ETF, for example, raked in over $400 million in assets under management within just two days of its launch. It’s no longer a question of whether crypto is an asset class. It’s like a starter pistol has been fired, and the institutional investors are off to the races, setting the stage for a ...

Also Read: US CPI Inflation Cools To 3%; Bitcoin , Ethereum Price-In For Rally, US Dollar Falls advertisement In June 2023, the SEC initiated separate lawsuits against two of the largest crypto exchanges by trading volume, Coinbase and Binance. Despite this, traders digested the news quickly with the Bitcoin price dropping very little. 21 Watchdogs Oppose Draft Crypto Bill In a comprehensive letter to the US House Committee on Financial Services, organizations like the Americans for Financial Reform and Center for Responsible Lending alleged that the crypto industry stakeholders lobbied in favor of the Committee’s draft proposal, the bill, ‘Digital Asset Market Structure Discussion Draft.’ The watchdogs wrote that crypto industry did not show any viable use cases beyond speculative investment. More interestingly, they accused the Crypto Market of lobbying for favorable laws in the shadow of crypto innovation. “Perhaps the most d...

Senators Seek Probe Into Binance’s Business Practices The letter follows a previous inquiry initiated by Senators Warren, Van Hollen, and Republican Senator Roger Marshall of Kansas back in March. The senators sought information on the relationship between the Binance exchange and its US affiliate, along with requesting various financial data. At the time, Binance had stated that the two entities were separate and emphasized its commitment to compliance. However, the SEC’s complaint suggests otherwise, further casting doubt on the exchange’s claims. advertisement Read More: Money Trail of Binance Shows $70 Billion Moved Through Signature & Silvergate Banks Notably, this is not the first time concerns regarding the independence of Binance and Binance’s US arm came to light. State regulators in Texas had previously raised similar apprehensions about the relationship between the two entities. SEC Lawsuit Raises Concerns Over Bina...

Panelists at a discussion on “Fighting the Anti-crypto Army” sought to dismiss the idea that working with lawmakers to regulate crypto should be framed as a fight. A trio of speakers in attendance at Industry Day, May 18, during the Bitcoin 2023 event in Miami held a discussion on government regulation and how the cryptocurrency industry should fight back against the “anti-crypto army.” Moderated by David Zell, cofounder of the Bitcoin Policy Institute, the panel featured Perianne Boring, Founder and CEO at Chamber of Digital Commerce, Mina Khattak, Senior director of crypto and web3 at Worldpay, and Dana Syracuse, a partner at law firm Perkins Coie. The discussion opened with Chamber of Digital Commerce’s Boring describing the current regulatory situation as “dire,” after placing part of the blame for the contentious nature of some of the discourse surrounding cryptocurrency regulation on the recent scandals in the space. “With a lot of negative headlines,” explained Boring, “there...

Also Read: Cathie Wood’s Ark Invest Adds Over 150K Coinbase Stock Amid Red Hot Inflation advertisement The upcoming upgrade could likely showcase the real impact from The Merge, which switched Ethereum’s consensus mechanism to proof of stake. This consensus system offers low energy costs as opposed to the previous mechanism of proof of work. It may be recalled that against high expectations, the Ethereum price did not rise after The Merge was completed in mid-September 2022. Lido Sees Largest Daily Stake Inflow The World’s first licensed Crypto Casino. Begin your journey with 20% cashback up to 10,000 USDT. Signup Ad The Lido protocol had on 25 February, 2023 recorded its largest daily stake inflow so far with over 150,000 ETH staked. This can likely be attributed to Justin Sun’s 150,100 ETH staked. Due to the heavy...