Terraform Labs co-founder, others indicted in South Korea
Shin Hyun-Seong, co-founder of Terraform Labs, and nine other individuals were reportedly indicted by the financial crimes branch of the Seoul Southern District Prosecutor’s Office for the collapse of the Terra stablecoin ecosystem. After 11 months of investigation, ten individuals were indicted on fraud, violation of trust, and embezzlement charges and sent to trial. KBS […]
Visa to Explore Public Blockchain Networks, Stablecoin Payments
Visa continues to investigate the advantages of the cryptocurrency industry with new initiatives designed to encourage mainstream adoption centered on blockchain networks and stablecoin payments. Visa’s head of cryptocurrency, Cuy Sheffield, took to Twitter on April 24 to herald the launch of a new cryptocurrency-related initiative. According to Sheffield, the forthcoming crypto product from Visa […]
US DOJ charges 5 people over Crypto Price Manipulation
The US Department of Justice (DOJ) has charged five people with “conspiring to manipulate the market” price of an Ethereum-based ERC-20 token called “HYDRO.” According to a statement released by the United States Department of Justice (DOJ) on April 24, three individuals were charged with conspiring to manipulate the Hydro market. Two additional individuals have […]
Russia Claims Second Spot in Largest Bitcoin Mining Hub After US
According to recent reports, Russia is now the second-largest country in the world for Bitcoin and cryptocurrency mining, with the United States continuing to hold the top spot. According to Kommersant, BitRiver, a company that provides colocation services for cryptocurrency mining operations, reported that the Russian Federation achieved a new milestone in the first quarter […]
Bank of Korea reportedly gets approval to investigate local crypto firms
Bank of Korea has been given the go-ahead to increase its scrutiny of cryptocurrency service operators and issuers. This also grants them access to crypto transaction data from exchanges operating in the country. The Korea Herald reported on April 20 that the Bank of Korea (BoK) would be authorized to examine operators of cryptocurrency-related enterprises. […]