Day: April 24, 2023

US Treasury seeks to tighten nonbank rules following banking crisis

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The United States Treasury and a number of top U.S. financial regulators suggested new rules to make it easier for the Federal Reserve to designate nonbank institutions as systemically important, making it easier to supervise and regulate them. In remarks from the Financial Stability Oversight Council (FSOC) Council Meeting on April 21, U.S. Treasury Secretary Janet Yellen raised concerns over “nonbank” financial institutions due to their current lack of supervision and the potential for wider financial contagion to take hold when these firms suffer through periods of distress. ‘Nonbank’ is…

Bank of Korea given right to investigate local crypto firms: Report

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The central bank of South Korea has been given the green light to ramp up its scrutiny of cryptocurrency service operators and issuers amid further discussions on virtual asset legislation in the country. On April 20, local media outlet The Korea Herald reported the Bank of Korea (BoK) will be given the right to investigate operators of cryptocurrency-related businesses. The South Korean central bank has been competing with the country’s financial regulator, the Financial Services Commission (FSC), over crypto jurisdiction. However, the FSC will have the final say in governing…

US Court Sentences Russian Crypto Ransom Launderer to Probation and Fine – Bitcoin News

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A Russian crypto entrepreneur, charged with laundering money from ransomware attacks, has been sentenced to probation and fined in the U.S. after pleading guilty. Founder of two coin trading platforms, Denis Dubnikov, was arrested in the Netherlands and extradited to the U.S. last year. Oregon Court Sentences Russian for Processing Ryuk Payments A Russian national accused of money laundering related to the distribution of ransomware has been sentenced to three years of probation in the United States. Denis Dubnikov was arrested in Amsterdam in November 2021, and then extradited to…

SEC wins $2.8M in suit over alleged crypto token price manipulation

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A seven-month-long lawsuit between the United States securities regulator and a firm alleged to have manipulated the price of cryptocurrencies has come to a close with a $2.8 million payment. On April 20, a New York District Court Judge ruled against Hydrogen Technology Corporation and its former CEO Michael Ross Kane in a suit brought by the Securities and Exchange Commission (SEC), ordering them to pay $2.8 million in remedies and civil penalties. The sum comprises approximately $1.5 million in “disgorged” profits — which refers to gains made from unlawful…

What’s Next After Bitcoin $BTC Price Retreat

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The big story in crypto markets last week was that ether (ETH), turned lower, erasing all price gains notched during the weeks-long mini-rally that followed the seamless implementation on April 12 of the Ethereum blockchain’s highly anticipated Shanghai upgrade. Bitcoin (BTC) reversed course as well, losing its foothold above $30,000 and changing hands around $27,800 around press time. Original

Syrian Official Says US Imposes Sanctions to Steal Nations’ Assets and Exert Control – Economics Bitcoin News

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The Syrian foreign minister says the U.S. imposes sanctions on Syria and Russia to steal their assets and keep them under its hegemony. The U.S. is “the biggest beneficiary of wars and fueling global conflicts, with the aim of maintaining the dominance of the dollar in the global economy and trade,” said a Russian official. US Sanctions Aimed at Stealing Assets and Keeping Targeted Nations Under Its Hegemony, Says Syrian Official The Syrian Minister of Foreign Affairs and Expatriates, Faisal Mekdad, met with Alexander Yakovenko, the Rector of the Diplomatic…

OPNX CEO scolds claimed backers after they deny investing in the firm

A number of supposed Open Exchange (OPNX) investors have been blasted by the CEO of the crypto claims trading platform after some publicly distanced themselves from the project after being named as backers. On April 22, OPNX’s CEO Leslie Lamb tweeted that the behavior of the firms was “disgusting” and “disappointing” saying they “want all the upside with little to no risk.” “I’m here to remind everyone that’s not how entrepreneurship works, if it isn’t already clear,” Lamb added. I’ve gotten all but 4 hours of sleep dealing with the…

OPNX CEO scolds claimed backers after some deny investing in the firm

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A number of supposed Open Exchange (OPNX) investors have been blasted by the CEO of the crypto claims trading platform after some publicly distanced themselves from the project after being named as backers. On April 22, OPNX’s CEO Leslie Lamb tweeted that the behavior of the firms was “disgusting” and “disappointing” saying they “want all the upside with little to no risk.” “I’m here to remind everyone that’s not how entrepreneurship works, if it isn’t already clear,” Lamb added. I’ve gotten all but 4 hours of sleep dealing with the…

Anti-Russia Sanctions Will Trigger Global Economic Crisis, Russian Official Warns – Economics Bitcoin News

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Russia has warned that existing and new anti-Russia sanctions imposed by the U.S. and other Western countries will lead to a global economic crisis. “Both the current sanctions that have been imposed against our country and the new additional steps that Brussels and Washington are probably thinking about now will hit the global economy hard,” the spokesperson for Russian President Vladimir Putin said. Sanctions Will Lead to Global Economic Crisis, Says Russian Official Russian President Vladimir Putin’s press secretary, Dmitry Peskov, told reporters on Friday that anti-Russia sanctions will have…