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According to a recent report from Bloomberg, Chinese banks are now showing interest in Hong Kong crypto firms. This has surprised the broader crypto community, given that China had once restricted digital currency transactions in the country. In 2021, China imposed a strict law stating that anyone associating with these…

Do Kwon, co-founder of TerraForm Labs, was reportedly arrested by the Montenegro authorities last week at Podgorica’s capital airport. Kwon, who has been on the run from South Korean authorities, is now set to appeal his detention after the Montenegrin court ruled to extend it by 30 days. Do Kwon…

Crypto-related developments continue to gain more ground despite the recent market turmoil caused by FTX has broken the investors’ trust. This time, ConsenSys, the firm behind the most used self-custodian cryptocurrency wallet, MetaMask, inked a partnership with Web3 payment channel, MoonPay.  This collaboration enables Nigerian crypto users to buy digital…

Credit Suisse has struck a deal with UBS for $3.2 billion in a rescue deal aimed at calming financial market panic triggered by the current American banking crisis. UBS is purchasing Credit Suisse for 3 billion Swiss francs ($3.25 billion), which is around 60% less than the value of the…

The crash of many firms last year alarmed both crypto users and regulators. One of the most notable was the FTX exchange crash and its unending contagion, which has spread into 2023. As a result, many regulators in different countries are taking steps to protect crypto users and investors.  Some…

The U.S. Justice Department is investigating the 2022 collapse of the TerraUSD stablecoin and is considering bringing criminal charges against the coin’s creator, Do Kwon, as reported by the Wall Street Journal. The move comes after the U.S. Securities and Exchange Commission filed charges against Kwon last month for allegedly…

The recent banking crisis in the U.S., which resulted in losing three crypto-friendly banks, Silvergate Capital, Silicon Valley Bank, and Signature Bank, has raised concerns among U.S.-based firms.  Amidst the alarms of the wavering crisis, crypto firms seem to be exploring diversifying across international jurisdictions.  In the short term, European…

Bybit has introduced a debit card that can be used on the Mastercard network and would deduct cryptocurrency holdings from accounts when making purchases. The launch of Bybit’s virtual and physical debit card offerings comes days after the Dubai-based exchange announced it will stop accepting bank transactions in U.S. dollars….

Bybit has suspended U.S. dollar deposits using bank transfer owing to a partner-triggered service outage, the Dubai-headquartered crypto exchange announced. Bybit announced on its website that U.S. dollar wire transfers, including SWIFT payments, have been temporarily halted and withdrawals will be paused on March 10. Customers can use other means…

The city of Ras Al Khaimah (RAK), UAE, intends to introduce a free zone for digital and virtual asset companies. The government of Ras Al Khaimah says this free zone will be called the RAK Digital Assets Oasis. This announcement was made recently in the international forum Blockchain Life 2023….

In a stunning turn of events, the highly-anticipated boxing match between Jake Paul and Tommy Fury on Sunday night ended in a split decision, with Fury emerging as the victor over the once-mighty Paul. The fight, held in Diriyah, Saudi Arabia, went down the wire as Fury won via split…

Regulators are still keen on their respective aims towards the cryptocurrency industry. As a part of its goal of becoming a crypto hub, Hong Kong’s Securities and Futures Commission earlier today revealed a proposal to allow retail investors in Hong Kong to trade larger crypto assets such as Bitcoin (BTC)…

Just recently, Ripple CEO Brad Garlinghouse drew attention to the global regulatory progress in comparison to the headwinds the industry is facing in the United States. One region where crypto is seen as a promising innovation and where the company has already been able to sign high-profile collaborations is the…

In recent months, initiatives surrounding central bank digital currencies,  (CBDC) have gained traction as banking authorities attempt to streamline cross-border transactions and stimulate innovation in the payments industry. Regulators in Asia, Europe, and South America are becoming more interested in implementing virtual currencies issued by their respective governments. In the Gulf…

Yesterday’s news revolving around the U.S. Securities and Exchange Commission’s enforcement action against Kraken has once again flushed great uncertainty into the crypto market, but Ripple CEO Brad Garlinghouse has pointed to the positive developments around the world. Garlinghouse cited a total of five encouraging crypto regulatory news stories worldwide…