Category: Exchanges

US Senator Elizabeth Warren Introduces Bill That Could Ban Exchanges From Working With Russian Wallets

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US Senator Elizabeth Warren is introducing a new bill enabling the Treasury Department to ban exchanges from facilitating transactions for Russian crypto wallets. The bill also would require President Joe Biden’s administration to identify “foreign digital asset actors that are facilitating evasion of sanctions against Russia.” The administration would be authorized to sanction crypto holders who are evading sanctions, according to a one-pager from Warren’s office. Warren, a Democrat from Massachusetts, introduced the bill with the Senators Mark Warner (D-VA), Jack Reed (D-RI), and Jon Tester (D-MT). Says Warren in…

American Consumer Protection Key to Biden’s Cryptocurrency Plan

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While the Securities and Exchange Commission and the Commodities and Futures Trading Commission have been the U.S. financial watchdogs most closely associated with cryptocurrency regulation, U.S. President Joe Biden’s executive order on the nascent asset class actually puts consumer protection front and center. Whereas the U.S. Federal Trade Commission and the Consumer Financial Protection Bureau have largely taken a backseat to the SEC and CFTC, a closer examination of Biden’s executive order on cryptocurrencies actually directs the CFPB and the FTC to more closely study how they can police cryptocurrency…

Crypto Exchange Giant Coinbase Launches New Web 3.0-Focused Payments Service

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US-based crypto exchange giant Coinbase is adding a new feature to their crypto wallet browser extension that streamlines access to decentralized finance (DeFi) and non-fungible token (NFT) marketplaces. In a new company blog post, Coinbase senior director of product management Prakash Hariramani says Coinbase Pay will allow investors to use their crypto wallet through Google’s Chrome web browser to bypass the cumbersome steps required to link up with Web 3.0 services. “Before Coinbase Pay, users who wanted to add funds to their Coinbase Wallet from the browser extension needed to…

Citi Promoted Stuart Staley to Global Co-Head of Foreign Exchange

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Citi announced that it has promoted Stuart Staley to Global Co-Head of Foreign Exchange. In an article recently shared with Finance Magnates, Stuart Staley, an executive veteran with more than thirty years of experience, has been promoted by Citi, one of the largest banks in the world, to Global Co-Head of Foreign Exchange. Staley will relocate to London from his previous position based in Singapore. He will drive the FX business with Itay Tuchman, the Global Head of Foreign Exchange, as they will share the duties in supervising FX trading.…

How do crypto monitoring and blockchain analysis help avoid cryptocurrency fraud?

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The primary functions of a blockchain analysis tools include address classification, providing investigation tools, monitoring transactions and risk analysis. The ability to link blockchain addresses to real-world identities is one of the most common uses of blockchain analysis software. Such tools use a variety of ways to identify real-world items on the blockchain. For instance, standard blockchain analysis techniques include web scraping and clustering algorithms. Clustering is the most prevalent method for identifying entities like exchanges, payment processors and wallets in analysis tools. Similarly, web scraping is utilized to analyze…

Is cryptocurrency a friend or foe?

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In January 2022, the Central Bank of Russia (CBR) proposed a number of measures aimed at curtailing the country’s cryptocurrency market, which included a blanket ban on the use and mining of all cryptocurrencies. It pointed out risks posed by the volatile nature of cryptocurrencies to the financial stability of the country, the extensive use of crypto in illegal activity and the energy costs involved in crypto mining. However, the utility of blockchain technology didn’t escape the CBR. The following month, it announced that it had started the pilot stage…

ApeCoin By Yuga Labs Is Launching Today, Listed at the Top Crypto Exchanges

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Yuga Labs is set to release its very cryptocurrency, ApeCoin, an ERC-20 governance and utility token. Yuga Labs is the owner of the Bored Apes Yacht Club (BAYC), CryptoPunks and Meebits following the rights acquisition from Larva Labs. Q4 2021 volumes have gone up or down and how much? The Bored Apes NFT collection value was boosted following the acquisition, attaining a floor price of 107 ETH. At the time of this writing, BAYC NFTs are among the most sought collections in the market. In the past 24 hours BAYC…

Crypto.com Kicks Off Exchange Platform Rollout in the US

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On Tuesday, Crypto.com, one of the fastest-growing cryptocurrency and financial services platforms, announced that it began the initial phase of its platform’s launch in the United States. Q4 2021 volumes have gone up or down and how much? According to the firm, the exchange is now available for waitlisted users with a progressive rollout over the coming months. At the same time, Crypto.com invited institutional investors based in the US to join the waitlist. “We are excited to be expanding our offering for professional traders to the US. Crypto.com  Exchange …