Crypto Issues

Dubai is now identifying illegal crypto entities operating within its region. VARA released a statement on the situation this week, claiming that this move is aimed at strengthening its enforcement programme against law evaders. The authority, however, has not disclosed the names of the entities in question. 

Japan's Financial Services Agency in coming months will assess whether the current approach of regulating crypto under the payments act is adequate, an official at the agency said, asking not to be identified in line with the institution’s rules.

Last week, Mudrex filed a petition with the Delhi High Court seeking action against the fraudulent websites. Mudrex had submitted evidence of its names and other marks being used extensively by fake websites to interact with users across the country.

Binance has been issued a notice for the payment of Rs. 772 crore in GST charges in India. In conversation with Gadgets360, an official said the notice issued to Binance should be seen by the exchange as an opportunity to present their front of the case and bring their business operations in alignment with India’s legal framework.

US regulators have issued an official warning against an emerging category of crypto scams, where scammers pose as professors or academicians. Social networking platforms including Facebook, WhatsApp, and Telegram are being exploited by cyber miscreants to find and communicate with potential victims.

The European Banking Authority (EBA) has imposed a ‘travel rule’ over crypto firms that aims to reduce instances of money laundering and terror financing using crypto assets, transactions through which often leave no trails that could lead to criminals.

Mishaboar, one of Dogecoin’s developers has released a warning asking the investor community to gauge the risks of investing in crypto assets before making any final decision. The Dogecoin developer has expressed his fear that investors who are losing sleep over their crypto investments – may have been overexposed to the sector.

MiCA (Markets in Crypto Assets) draft technical regulations were published by the European Banking Authority (EBA), ahead of the July deadline. The EBA has addressed a number of issues in its MiCA draft technical standards, including those related to liquidity requirements, stress testing programme, asset reserves, and recovery plans.

The Macau Judiciary Police had invited Binance to train officers part of the Criminal Investigation Department and gaming-related Economic Crimes Investigation Department. Because the sector is considerably young, law enforcement agencies around the world have experienced issues in Web3-related investigations.

The FTC has reminded people that nobody can guarantee sure shot profits on crypto investments, given the volatile nature of these assets. As part of these rising crypto romance scams, the FTC has warned users about being promised no-risk investments and unconventional methods to wire funds online.

The CEO of cryptocurrency exchange Binance on Tuesday accused Nigeria of setting a dangerous precedent after its executives were invited to the African country and then detained as part of a crackdown on crypto.

A new name has entered the Bitcoin family. Called Bitcoin Runes, this is an innovative protocol created to address issues associated to Bitcoin-based token systems that depend on off-chain data and native tokens used for operations.

KuCoin has become the latest international crypto exchange to have completed compliance with India’s FIU. The tax deduction process on KuCoin for Indian investors and traders will begin on April 10 and the authorities will deposit the amount to India’s financial authorities.

The government of Philippines has announced a ban on Binance citing its lack of official operational licence. Residents of the country who were using the platform are distressed about the safety of their funds.

Finance Minister Nirmala Sitharaman was asked Friday about India’s stance on cryptocurrencies. Sharing her response, the finance minister said that cryptocurrencies were not seen or perceived as ‘currency’ in India.

Dubai is now identifying illegal crypto entities operating within its region. VARA released a statement on the situation this week, claiming that this move is aimed at strengthening its enforcement programme against law evaders. The authority, however, has not disclosed the names of the entities in question. 

Japan's Financial Services Agency in coming months will assess whether the current approach of regulating crypto under the payments act is adequate, an official at the agency said, asking not to be identified in line with the institution’s rules.

Last week, Mudrex filed a petition with the Delhi High Court seeking action against the fraudulent websites. Mudrex had submitted evidence of its names and other marks being used extensively by fake websites to interact with users across the country.

Binance has been issued a notice for the payment of Rs. 772 crore in GST charges in India. In conversation with Gadgets360, an official said the notice issued to Binance should be seen by the exchange as an opportunity to present their front of the case and bring their business operations in alignment with India’s legal framework.

US regulators have issued an official warning against an emerging category of crypto scams, where scammers pose as professors or academicians. Social networking platforms including Facebook, WhatsApp, and Telegram are being exploited by cyber miscreants to find and communicate with potential victims.

The European Banking Authority (EBA) has imposed a ‘travel rule’ over crypto firms that aims to reduce instances of money laundering and terror financing using crypto assets, transactions through which often leave no trails that could lead to criminals.

Mishaboar, one of Dogecoin’s developers has released a warning asking the investor community to gauge the risks of investing in crypto assets before making any final decision. The Dogecoin developer has expressed his fear that investors who are losing sleep over their crypto investments – may have been overexposed to the sector.

MiCA (Markets in Crypto Assets) draft technical regulations were published by the European Banking Authority (EBA), ahead of the July deadline. The EBA has addressed a number of issues in its MiCA draft technical standards, including those related to liquidity requirements, stress testing programme, asset reserves, and recovery plans.

The Macau Judiciary Police had invited Binance to train officers part of the Criminal Investigation Department and gaming-related Economic Crimes Investigation Department. Because the sector is considerably young, law enforcement agencies around the world have experienced issues in Web3-related investigations.

The FTC has reminded people that nobody can guarantee sure shot profits on crypto investments, given the volatile nature of these assets. As part of these rising crypto romance scams, the FTC has warned users about being promised no-risk investments and unconventional methods to wire funds online.

The CEO of cryptocurrency exchange Binance on Tuesday accused Nigeria of setting a dangerous precedent after its executives were invited to the African country and then detained as part of a crackdown on crypto.

A new name has entered the Bitcoin family. Called Bitcoin Runes, this is an innovative protocol created to address issues associated to Bitcoin-based token systems that depend on off-chain data and native tokens used for operations.

KuCoin has become the latest international crypto exchange to have completed compliance with India’s FIU. The tax deduction process on KuCoin for Indian investors and traders will begin on April 10 and the authorities will deposit the amount to India’s financial authorities.

The government of Philippines has announced a ban on Binance citing its lack of official operational licence. Residents of the country who were using the platform are distressed about the safety of their funds.

Finance Minister Nirmala Sitharaman was asked Friday about India’s stance on cryptocurrencies. Sharing her response, the finance minister said that cryptocurrencies were not seen or perceived as ‘currency’ in India.