Cyprus Urges Collective Crackdown on Crypto Terror Financing
Cyprus’ ICPAC urges accountants and auditors to help combat terror financing, highlighting cryptocurrencies as a key focus. A regulatory authority in Cyprus has requested the assistance of accounting and audit specialists in detecting and preventing terrorist financing activities. The authority has placed a particular emphasis on five methods of fund transfer, including cryptocurrencies. A “terror […]
Alibaba bans crypto miner sales amid China’s cryptocurrency crackdown
In reaction to China’s increasing cryptocurrency crackdown, Chinese e-commerce giant Alibaba is the next corporation to shut down its cryptocurrency-related services. On Oct. 8, Alibaba’s platform will prohibit the sale of cryptocurrency miners and halt categories for blockchain miners and accessories, according to an official announcement. In addition to prohibiting the sale of crypto mining […]
US Treasury Department is keen on stablecoin crackdown
The US Treasury Department is still planning a stablecoin crackdown, although, stablecoin Tether’s dominance has fallen to 56%, USDC and BUSD have surged to 23.9% and 10.4% respectively. The US Treasury Department is preparing a review that will focus on the issues created by stablecoin redemptions as well as the impact of a prospective run […]
The Securities and Exchange Commission’s chairman promises crypto crackdown
Gary Gensler, the head of the Securities and Exchange Commission in the United States, has predicted a crypto crackdown, he also stated that the cryptocurrency market is “like the Wild West.” According to Bloomberg, the cryptocurrency business is expanding, with a market capitalization of almost $2 trillion. This is owing to the widespread adoption of […]
Crypto adoption rises in Nigeria despite the government crackdown
Despite the government crackdown, cryptocurrency adoption in Nigeria continues to grow, with peer-to-peer (P2P) trade volume for Bitcoin posting its second-highest week on record last month. Nigeria continues to rank first in terms of search interest for the keyword “Bitcoin” according to Google Trends as of this writing. According to Useful Tulips, P2P Bitcoin trading […]