The UK law Society Warns Its Members Against Bitcoin Transactions
The professional group told its members, “This is a cash transaction , so there is a high risk of money laundering in Bitcoin Transactions.” The Law Society of England and Wales told its members that Bitcoin Transactions should be treated like cash and that they should be aware of the possibility of money laundering when […]
Coinbase launches wrapped staked ETH on Ethereum network
Coinbase cryptocurrency exchange has introduced wrapped staked ETH (cbETH) with hopes that it will achieve robust adoption for trade, transfer, and use in DeFi applications. In a statement on Wednesday, Coinbase stated that it would offer Coinbase Wrapped Staked ETH (cbETH) as an ERC-20 token on the Ethereum network, enabling users to use their staked […]
Singapore High Court grants liquidator’s request to probe 3AC
According to Bloomberg, the Singapore High Court reportedly granted permission to acknowledge the liquidation decision against Three Arrows Capital (3AC) issued by a court in the British Virgin Islands. The petitioner now has the legal right to ask for access to the financial records of 3AC that are stored in Singapore, where 3AC is headquartered, […]
Report shows more than $100M worth of NFTs stolen since 2021
Cryptocurrency risk management company Elliptic claims in a recent report showed more than $100 million and nonfungible tokens, or NFTs were stolen by criminals in the year 2021. According to Elliptic’s NFTs and Financial Crime research, which was published on Wednesday, in the 13-month period between July 2021 and July 2022, crypto users have fallen […]
Coinbase User Sues over lockouts, Crypto as a Security
By failing to complete the necessary registration as a securities exchange, user accuses Coinbase of flouting federal and state regulations. On behalf of account and wallet users “who have had their accounts compromised and experienced damages deriving from the illicit transfer of funds,” one user has launched a class-action lawsuit against cryptocurrency exchange Coinbase. George […]