Fed Issues Cease and Desist to Texas Bank Over Crypto Firm Services
The US Federal Reserve claimed it discovered “significant deficiencies” in the bank’s dealings with crypto clients and risk management systems. The United States Federal Reserve has issued a cease and desist order to United Texas Bank, known for its crypto-friendly approach, due to “significant deficiencies” in its risk management and dealings with cryptocurrency clients. In […]
Qatar Reveals Regulatory Framework for Digital Assets
Qatar’s central bank governor believes the framework will benefit the country’s financial sector. The Qatar Financial Centre (QFC), a business hub based in Doha, Qatar, has introduced a detailed set of regulations for managing and establishing digital assets. The Qatar Financial Centre Authority (QFCA) and the Qatar Financial Centre Regulatory Authority (QFCRA), the QFC’s regulatory […]
Binance Exec’s Trial Moved Up Despite Lack of Legal Counsel
The Nigerian government accuses Binance of being responsible for the fall of the Naira currency amid multiple alleged money laundering charges. The legal trial for Tigran Gambaryan, a Binance executive and former United States federal agent, has been moved to September 2. The crypto industry is anxiously awaiting the outcome. Gambaryan’s next court hearing is set […]
Tether Redistributed $108.8M USDT from Illicit Activity
Tether has voluntarily blocked over 1,900 bitcoin wallets associated with illegal activities. According to a recent announcement, since its launch in 2014, the stablecoin issuer Tether has helped more than 145 law enforcement agencies recover more than $108.8 million USDT linked to illicit acts. Tether remains resolute in its mission to support global law enforcement […]
U.S. Senate Passes Law Against Non-Consensual Deepfake Porn
The U.S. Senate passed the DEFIANCE Act to combat non-consensual deepfake pornography, enhancing protections for individuals against unauthorized use of their likeness in explicit content. The U.S. Senate has voted on a “anti-deepfake” law that is intended to safeguard individuals from the non-consensual use of their visage in pornographic content. “The DEFIANCE (Disrupt Explicit Forged […]