Tag: Cash

Coinbase is fighting back as the SEC closes in on Tornado Cash

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On Sept. 8, Coinbase announced it was bankrolling a lawsuit against the United States Treasury Department. The cryptocurrency exchange is funding a lawsuit brought by six people that challenges the sanctions on Tornado Cash.ย And on Sept. 9, Securities and Exchange Commission (SEC) Chair Gary Gensler announced he was working hard with Congress to create legislation to increase cryptocurrency regulations. But these two stories are not mutually exclusive. The sequence of events proves that governments are purely reactive rather than proactive when it comes to decentralized finance (DeFi). Tornado Cash was…

US Treasury Clarifies How to Comply With Regulations on Sanctioned Crypto Mixing Service Tornado Cash โ€“ Regulation Bitcoin News

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The U.S. Department of the Treasury has answered some questions on regulatory compliance relating to Tornado Cash, a recently sanctioned crypto mixer. The answers include how to withdraw crypto or complete transactions initiated using Tornado Cash prior to its sanction and how to deal with โ€œdustingโ€ transactions. Treasury Department Publishes Tornado Cash FAQs The U.S. Department of the Treasury answered some frequently asked questions Tuesday about the sanctioned cryptocurrency mixing service Tornado Cash. On Aug. 8, the Treasuryโ€™s Office of Foreign Assets Control (OFAC) sanctioned the Ethereum-based mixer and prohibited…

Cowboy Maverick Johnny Cash Mines 2.6 BTC Jackpot in Gold Rush at Bitcoin.comโ€™s Crypto Casino โ€“ Promoted Bitcoin News

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Gold Rush with Jonny Cash dishes out a massive win of 2.6 BTC! Massive Win on Casino Slot Jackpot wins on our crypto casino Bitcoin.com Games have become a regular phenomenon with players winning insane amounts of BTC every month. Just yesterday, a lucky playerโ€™s mining adventures on the smashing slot game Gold Rush with Johnny Cash took an extremely fortuitous turn. One of the bets that they had made on the slot was destined to land them a massive win of 2.6 BTC. Gold Rush with Johnny Cash Gold…

Financial Services Giant Old Mutual Appointed Manager of South African Stablecoin Project’s Cash Reserves โ€“ Emerging Markets Bitcoin News

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One of South Africaโ€™s largest financial services groups, Old Mutual, has reportedly been appointed manager of the ZARP stablecoin projectโ€™s cash reserves. Founders of the stablecoin are hopeful that the appointment of one of the countryโ€™s oldest financial services companies will help bolster confidence in the digital currency. Enhancing Credibility of the Stablecoin The South African financial services giant Old Mutual has reportedly been designated the manager of the cash reserves of the local currency-backed stablecoin โ€” the zarp. By appointing Old Mutual, one of the oldest wealth management companies…

BITCOIN, ETHEREUM ed i RISCHI in arrivo ๐Ÿคฏ

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US Treasury Explains How Americans Can Recover Crypto Locked in Tornado Cash

“U.S. persons should be prepared to provide, at a minimum, all relevant information regarding these transactions with Tornado Cash, including the wallet addresses for the remitter and beneficiary, transaction hashes, the date and time of the transaction(s), as well as the amount(s) of virtual currency. OFAC would have a favorable licensing policy towards such applications, provided that the transaction did not involve other sanctionable conduct,” the FAQs said. Source

Ethiopian Central Bank Restricts Amount of Cash Travelers Can Hold, Sets Foreign Currency Conditions โ€“ Africa Bitcoin News

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According to the National Bank of Ethiopiaโ€™s directive, which became effective on September 5, persons entering and departing the country in possession of local currency are now subject to new restrictions. Individuals may not hold local currency whose value exceeds $57.00 or 3,000 birr. The directive also sets conditions and circumstances under which Ethiopian residents and non-residents may possess and use foreign currency. Converting All Foreign Currency at Authorized Forex Bureaus The Ethiopian central bank recently issued a directive which sets a limit on the amount of the birr that…

500,000 DAI From DAO Maker Exploit Was Sent Through Tornado Cash, Security Analysts Report โ€“ Bitcoin News

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On September 8, the crypto security and smart contract auditing firm Certik revealed that 500,000 DAI was sent through the Tornado Cash mixing platform after the funds were stolen in August 2021. The digital assets originally stemmed from the DAO Maker breach that saw the loss of more than $7 million in ERC20 tokens and stablecoins. Address Directly Connected to DAO Maker Hack Sends 500,000 DAI Through Tornado Cash Despite the U.S. government banning the Ethereum-based mixing application Tornado Cash, the application is still used regularly. On Thursday, the crypto…