South Korean financial regulators are looking into the massive amount of foreign remittances of cash that came from crypto exchanges. South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency.  According to an Aug. 15 report from Asia Times, the...Continue Reading

Consumer watchdog group Truth in Advertising says celebrities promoting non-fungible tokens (NFTs) on their social media channels is an area “rife with deception.” Consumer watchdog group Truth in Advertising (TINA.org) has called out 19 celebrities for allegedly promoting non-fungible tokens (NFTs) without disclosing their connection to the projects.  The not-for-profit consumer advocacy organization said on...Continue Reading

Data shows pro traders are slightly skeptical of the strength of Ethereum’s rally after ETH price sold off at the $2,000 resistance. Ether (ETH) rejected the $2,000 resistance on Aug. 14, but the solid 82.8% gain since the rising wedge formation started on July 13 certainly seems like a victory for bulls. Undoubtedly, the “ultrasound...Continue Reading

“Either Galaxy owes BitGo a $100 million termination fee as promised or it has been acting in bad faith and faces damages of that much or more,” said R. Brian Timmons. Digital asset custodian BitGo said it planned to seek more than $100 million in damages from Galaxy Digital, alleging the investment firm owed the...Continue Reading

“By treating autonomous code as a ‘person’ OFAC exceeds its statutory authority,” said Coin Center’s Jerry Brito and Peter Van Valkenburgh. United States-based crypto policy advocacy group Coin Center said it intended to “pursue administrative relief” for individuals affected by Tornado Cash sanctions imposed by the Treasury Department’s Office of Foreign Asset Control, or OFAC....Continue Reading

“Up only” Bitcoin and Ethereum take a breather after encountering resistance at a stiff multi-month descending trendline. On Aug. 15, Bitcoin (BTC) price and the wider market corrected while the S&P 500 and DOW looked to build on four-straight weeks of robust gains. Data from TradingView and CNBC show the Dow pushing through its 200-day...Continue Reading

U.S. Treasury links the crypto mixer with $7 billion worth of laundered money. Summer is still on, harvesting the fresh names for its list of the crypto companies in deep trouble. This time, the trouble came not from the market or management but from the United States Treasury Department. The regulator has added more than...Continue Reading

The U.S. Federal Reserve Board has finalized tiered guidelines for granting Federal Reserve accounts, with Wyoming’s crypto banks likely to fall under most scrutiny. The United States Federal Reserve Board announced Monday that it had finalized guidelines for factors reserve banks are to consider when reviewing requests for Federal Reserve accounts and payment services. The...Continue Reading

The Canadian Securities Administrators will require crypto trading platforms to file an undertaking committing them to investor protections while their registration is in process. The Canadian Securities Administrators (CSA), the council of provincial and territorial securities regulators, announced Monday that crypto trading platforms will be expected to provide a preregistration undertaking to their principal regulators as...Continue Reading

Bitcoin and altcoins met selling at key overhead resistance levels and investors are unsure whether traders will buy the current dip. Bitcoin (BTC) has been witnessing a tough battle between the bulls and the bears near the $25,000 level. A clear winner may not emerge in the short term due to a lack of a...Continue Reading