Category: ICO

South Africa’s ANC Party Secures Victory in SA Election, Cyril Ramophosa Re-Elected

The election results are not expected to have a significant impact on South Africa’s burgeoning crypto industry. The country’s top regulator, the Financial Sector Conduct Authority, recently set up a licensing regime for crypto, making it one of the first African nations to do so. The country recently started licensing digital asset firms, and crypto companies Luno, Zignaly, and VALR were among the first to get a license in April. In 2022, the country included crypto providers in its Financial Advisory and Intermediary Services Act so it could regulate digital…

Two Men Charged With Running Darknet Marketplace Empire Market

Prosecutors say Thomas Pavey, 38, of Florida, and Raheim Hamilton, 28, of Virginia, owned and operated Empire Market from 2018 to 2020. During the period Empire Market operated, prosecutors say the pair processed $430 million in transactions on the site, which allowed users to anonymously purchase illegal goods and services. Source

Mass Adoption Would Ruin Crypto. Keep It a Niche

“The risk of growing adoption is that new entrants aren’t aware of Bitcoin’s core principles: decentralization, self-custody, hard money, etc. If new entrants don’t learn, understand, and espouse these core beliefs, the features that make them reality may not remain in the protocols over time,” said Alex Thorn, the head of firmwide research at investment bank Galaxy Digital. Source

Statement in response to Meta’s plans to train generative AI with user data

Stephen Almond, Executive Director, Regulatory Risk at the ICO, said:  “We are pleased that Meta has reflected on the concerns we shared from users of their service in the UK, and responded to our request to pause and review plans to use Facebook and Instagram user data to train generative AI. “In order to get the most out of generative AI and the opportunities it brings, it is crucial that the public can trust that their privacy rights will be respected from the outset. “We will continue to monitor major…

Bitcoin (BTC) Price Struggles Near $67,000 as Cryptos Lag Behind Stocks

Bitcoin will hit $1 million within 10 years, brokerage company Bernstein said while setting a massive price target for MicroStrategy. BTC, the largest and oldest crypto asset, could reach a cycle-high of $200,000 by 2025 en route to the 2033 forecast. The firm also initiated coverage for Michael Saylor’s MicroStrategy (MSTR), the biggest corporate owner of bitcoin, setting a price target of $2,890 per share with an outperform rating. That would translate to an almost 100% rally for the stock, which closed Thursday at $1,480. Source

Nigeria Drops Tax Charges Against Binance Execs Tigran Gambaryan and Nadeem Anjarwalla: Family Spokesperson

A money laundering trial is still scheduled with Gambaryan and Nadeem Anjarwalla remaining on that case. The next hearing in this case is scheduled for June 19th “where the application for an order for the enforcement of fundamental rights will be heard,” the statement said. The trial is due to resume on June 20th. Gambaryan is still detained at Kuje prison. Source

Former Goldman Sachs Exec Joins Anchorage Digital’s Board of Directors

Anchorage Digital is the only crypto bank currently chartered by the Office of the Comptroller of the Currency (OCC). Other institutions, including Paxos and Protego, have attempted to receive a full charter from the OCC but have failed to move past the provisional charter hurdle. With the boom of institutional interest in crypto spurred by the approval of spot Bitcoin exchange-traded funds (ETFs), Anchorage Digital’s business is growing, a company spokesperson said. Source