Platform Financial News

The Ukrainian forces amidst their ongoing tensions with their neighbor, Russia, developed a new relationship with digital assets. Bitcoin donations soared to Ukrainian volunteer and hacking groups, some of which have supplied equipment to government forces.

Indian crypto-asset exchange platform WazirX witnessed a 30% jump in its daily sign-ups since the country decided to impose a 30% tax on profits from cryptocurrency trading, according to co-founder Nischal Shetty.

Cardano has made great gains over the years. The young and dynamic cryptocurrency soared more than 700% in 2021. Investors were excited about the blockchain network’s speed, energy efficiency, and current and potential uses. But the incline didn’t stop going forward in 2022.

The crypto exchanges have developed Travel Rule Universal Solution Technology (Trust), which they say ensures top-tier compliance while also protecting the security and compliance of their customers' information.Trust does not centrally store personal data, with the required information sent from one member to another through end-to-end encrypted channels. The system also includes a mechanism for the receiving exchange to prove that it’s the owner of the receiving crypto address before customer information is sent.In addition, all Trust member must meet core anti-money laundering, security, and privacy requirements.The 18 members are Anchorage, Avanti, BitGo, bitFlyer, Bittrex, BlockFi, Circle, Coinbase, Fidelity Digital Assets, Gemini, Kraken, Paxos, Robinhood, Standard Custody & Trust, Symbridge, TradeStation, Zero Hash, and Zodia Custody.

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The social media giant, Twitter made headlines across the globe with its latest crypto-related venture. This move came just months after Twitter included Bitcoin in itsTips feature via the Lightning network on mobile.

The latest report suggests that cryptocurrency-based crime hit a new all-time high in 2021, with “illicit addresses receiving $14 billion over the year, up from $7.8 billion in 2020,” which amount was doubled to 2020, according to blockchain analytics platform Chainalysis.

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To many, SushiSwap is one of the most exciting projects in the DeFi space, with features ranging from swapping, stack yielding, lending, borrowing and leveraging all on one platform. Price action wise, since the beginning of 2021, SUSHI has given phenomenal returns – rallying by nearly 1000% in just two and a half months.

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Hargreaves Lansdown, the UK’s largest investment platform, saw ESG flows drop for the first time since the beginning of the pandemic, as a leading EU regulator also said green assets might be due a correction.

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The Gary Gensler-led Securities and Exchange Commission (SEC) has repeatedly aired its concerns about spot Bitcoin Exchange Traded Funds (ETFs). In fact, the Chairman believes there is a lack of infrastructure designed to prevent fraudulent and manipulative acts and practices. According to the agency, this wouldn’t serve the SEC’s intent to protect investors and public interest.

The study highlights a number of vulnerabilities associated with crypto-asset markets. These include increasing linkages with the regulated financial system; liquidity mismatch, credit and operational risks that make stablecoins susceptible to sudden and disruptive runs on their reserves, with the potential to spill over to short-term funding markets; the increased use of leverage in investment strategies; concentration risk of trading platforms; and the opacity and lack of regulatory oversight of the sector.