Crypto Financial News

cooperation in the crypto sector.Why Did India Call Out for Global Framework? Cryptocurrencies, as global assets transcending the jurisdiction of any single government or nation, have prompted India, in its current G20 Summit presidency, to advocate for global collaboration among participating countries. India's call for a global framework on cryptocurrencies at the G20 Summit aligns with its recognition of the transformative potential and risks associated with digital currencies. By advocating for international cooperation and regulation, India aims to address these challenges collectively while fostering responsible innovation and safeguarding its interests in the evolving crypto landscape. Being a fast maturing sector in its foundational building time, the crypto industry is currently grappling with a lack of consistent regulatory frameworks worldwide. Different countries have adopted varying approaches, ranging from outright bans to embracing cryptocurrencies as legitimate financial assets. This regulatory divergence creates uncertainty for investors and hampers the growth of the industry.How can International Forums Play a Role?

A standout story in today's crypto news reports hails from Turkey, where the former CEO of the now-folded Turkish cryptocurrency exchange Thodex has been sentenced to over 11,000 years in jail.

Digital asset exchange Coinbase sets out plans for a global expansion flagging jurisdictions outside the United States as “near-term priority markets.”

A new study reveals nearly half of institutions in the United States, UK, and Europe offer digital asset services to their clients.

Two leading exchange-traded fund (ETF) providers have set their sights on launching the first spot Ethereum ETF in the U.S. after continued delays from regulators on approving a spot Bitcoin ETF.

A former top executive at the failed FTX cryptocurrency exchange pleaded guilty Thursday to making tens of millions of dollars in illegal campaign contributions to U.S. politicians and engaging in a criminal conspiracy to operate an unlicensed money transfer business.

Bitcoin and other major cryptocurrencies are seeing little price movement today, extending the phase of low volatility that the cryptocurrency market has been seeing over the past few days.

A group of Nigerian blockchain experts have criticized the nation's Central Bank for its decision to prohibit the use of cryptocurrencies in 2021.

A federal court has ordered assets and bank accounts belonging to Alex Mashinsky, the former CEO of bankrupt crypto lender Celsius to be frozen.

Investment manager Grayscale is urging the Securities and Exchange Commission (SEC) to expedite the conversion of the Grayscale Bitcoin Trust (GBTC) into a Bitcoin exchange-traded fund (ETF).

investors. But for a small group of corporate turnaround specialists, crypto's implosion has become a financial bonanza.Lawyers, accountants, consultants, cryptocurrency analysts and other professionals have racked up more than $700 million in fees since last year from the bankruptcies of five major crypto firms, including the digital currency exchange FTX, according to a New York Times analysis of court records. That sum is likely to grow significantly as the cases unfold over the coming months. Large fees are common in corporate bankruptcies, which require complex and time-intensive legal work to untangle. But in the crypto world, the mounting fees have sparked widespread outrage because many of the people owed money are amateur traders who lost their personal savings, rather than corporations with the ability to weather a financial crisis. Every dollar in fees is deducted from the pool of funds that will be returned to creditors at the end of the bankruptcies. The fees are «exorbitant and ridiculous,» said Daniel Frishberg, a 19-year-old investor who lost about $3,000 when the crypto company Celsius Network filed for bankruptcy last year. «At every hearing, they have an army of people there, and most of them don't need to be there. You don't need 20 people taking notes.»

Visa announced on Tuesday that it plans to use the Solana blockchain for settling transactions with USDC, a major stablecoin.

Lawyers, accountants, and consultants make up professionals who have raked in over $700 million in fees following the collapse of several digital asset firms last year.

Traditional finance exchanges maintain a divided stance on offering crypto-related products to their customers according to a new research report by the World Federation of Exchanges (WFE). 

Digital asset exchange, OKX has entered the final stage to obtain a Virtual Asset Service Provider License (VASP) in Hong Kong. 

Blockchain security firms Peckshield and Cyvers have detected multiple suspected transactions with wallets linked to crypto casino, Stake. 

A recent survey shows Nigeria as the most crypto-savvy nation ahead of the United States and European countries.

U.S. employers added more jobs than expected last month, according to the monthly employment report released Friday by the Labor Department.

Creditors of crypto lender Genesis and its parent company the Digital Currency Group (DCG) have opposed a proposed settlement deal leveling accusations of voter manipulation.

A People’s Court in China has stated that under the existing legal framework, digital assets have economic value and are still legal property backed by law.

The People’s Fund of Maui, a charity organization rolled out by celebrities Oprah Winfrey and Dwayne “The Rock” Johnson to aid victims of wildfires in Maui accepts Bitcoin (BTC) and other cryptocurrencies.