U.S. Treasury Secretary Scott Bessent clarified in a Fox News interview on August 14 that the U.S. will not be buying Bitcoin for its Strategic Bitcoin Reserve. U.S. Bitcoin Reserve Won’t Be Bought, Scott Bessent Says Speaking with Fox News reporter Maria Bartiromo on Thursday, Bessent revealed that while the U.S. has its eyes on…
Key Takeaways: Global stablecoin policy approaches vary, creating potential competitive advantages for certain jurisdictions. Issuers may adjust their base of operations based on regulatory timelines and operational flexibility. Cross-border stablecoin adoption could be influenced by regional licensing requirements and compliance costs. The Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have…
Turkish crypto exchange BtcTurk is facing allegations of a $48 million security breach in a coordinated multi-chain attack targeting its hot wallets. The exploit, first detected by blockchain security firm Cyvers, involved suspicious transfers across Ethereum, Avalanche, Arbitrum, Base, Optimism, Mantle, and Polygon networks, with most funds consolidating into just two recipient addresses. Following the…
The crypto market’s euphoric bull run has been brutally shattered as over $1.05 billion in liquidations swept through digital assets following unexpectedly high U.S. inflation data. On August 14, the U.S. Bureau of Labor Statistics (BLS) released July Producer Price Index (PPI) data showing an annual rate of 3.3%, with the previous month’s figure revised…
Bitpanda, Europe’s leading cryptoasset platform, announced on Thursday that it has officially launched in the UK, giving British investors access to more than 600 cryptoassets. In a press release shared with CryptoNews, the firm said UK-based users will be able to trade a range of assets, from major cryptocurrencies like Bitcoin and Ethereum to emerging…
Google has officially reversed its controversial plan to remove non-custodial crypto wallets from the Play Store following intense criticism from the cryptocurrency community on Wednesday. On August 13, Google Play unveiled new licensing requirements mandating that custodial crypto wallet providers secure jurisdiction-specific licenses across more than 15 countries. After regulation by prosecution, here comes regulation…
Binance, the world’s largest cryptocurrency exchange, announced Thursday it has restored access to its full suite of Binance Earn products for qualifying UK Professional Users. This follows clarification in UK financial regulation, confirming that staking is exempt from being classed as a collective investment scheme, and a review of how exemptions under the Financial Promotions…
The FBI has issued an updated alert warning of fictitious law firms targeting crypto fraud victims with fraudulent recovery schemes, exploiting vulnerable populations, including the elderly, by impersonating legitimate lawyers and government entities. The sophisticated scams combine multiple exploitation tactics, offering false hope to victims desperate to recover funds from previous crypto frauds while stealing…
Tron founder Justin Sun has filed a lawsuit in the US District Court for the District of Delaware, seeking to stop Bloomberg from publishing what he calls highly sensitive details of his cryptocurrency holdings. The blockchain entrepreneur says the disclosure would invade his privacy, and put him and his family at risk. In the complaint,…
South Korea’s government is set to fast-track pro-business crypto reforms, including stablecoin regulations. The South Korean newspaper Metro Seoul reported that the Presidential Committee on State Affairs announced its plans at a public briefing on August 13. South Korea Crypto Reform Taking Shape The committee spoke of a five-year plan for state administration, naming 123…