Circle, a cryptocurrency fintech services company, announced it intends to become a full-reserve national commercial bank. This would bring a set of responsibilities and duties to the company equal to those of other mainstream banks: having to report to the Federal Reserve, U.S. Treasury, OCC, and the FDIC. However, it would also put the company…
PRESS RELEASE. BENQI, an algorithmic liquidity market protocol, and the Avalanche Foundation are collaborating on a joint liquidity mining program to celebrate the launch of the BENQI protocol on the 19th of August and the next phase of growth within Avalanche’s DeFi ecosystem. $3MM of AVAX will be allocated as liquidity incentives for BENQI users,…
Chainalysis, one of the leading blockchain intelligence companies in the world, has announced it will now cover the Dogecoin network in its reports. The company argues that dogecoin became one of the most known cryptocurrencies in the world after being promoted by Elon Musk, CEO of Tesla during this year. This, consequently, has attracted criminals…
Afek Zard, a resident of Israel, has been sentenced to eight years in prison for embezzling a large sum of cryptocurrency that belonged to a friend of his. The man, who refused to cooperate with the investigation, will have to pay a hefty fine as well. Israeli Resident Sentenced for Cryptocurrency Theft The 27-year-old Zard…
A commissioner with the U.S. Securities and Exchange Commission (SEC) has criticized the securities watchdog for focusing on enforcement actions in its oversight of the crypto industry. SEC Commissioner Slams Agency for Focusing on Enforcement Actions in Regulating Crypto Assets SEC Commissioner Hester Peirce criticized her own agency Monday after it announced an enforcement action…
The U.S. Senate has passed the $1.2 trillion infrastructure bill with a crypto reporting requirement provision that has been described as “unworkable.” Senator Ted Cruz warned: “This infrastructure bill has in it a portion that is designed to obliterate crypto. That would be a tragic mistake.” Senate Passes Infrastructure Bill With ‘Unworkable’ Crypto Tax Provision…
