Description As Europe stumbles through a period of economic turbulence, all eyes are firmly planted on the European Central Bank (ECB), the watchdog tasked with stabilizing the continent’s economic heartbeat. Remarkably, the ECB has cranked up interest rates to a record high last seen in 2001, marking its ninth straight increase. A move echoing the US … Read more As Europe stumbles through a period of economic turbulence, all eyes are firmly planted on the European Central Bank (ECB), the watchdog tasked with stabilizing the continent’s economic heartbeat. Remarkably, the ECB has cranked up interest rates to a record high last seen in 2001, marking its ninth straight increase. A move echoing the US Federal Reserve, which boosted rates by the same margin, is nothing short of controversial. ECB: Making waves amid stormy seas Following the tide set by its transatlantic counterpart, the ECB pushed its fundamental deposit rate up by 0.25 percentage points, bringing it to a cool 3.75%. Two decades ago, it embarked on a similar path, intending to inflate the fledgling euro’s worth. However, the times have…

TL;DR Breakdown South Korea intensifies efforts against crypto-related crime. KoFIU focuses on strategic analysis to combat criminal activities involving cryptocurrencies. Domestic crypto service providers employ innovative AI technology to detect fraud. Description South Korean authorities have stepped up their efforts to combat crypto-related crime. Without specific laws addressing these challenges, the government has taken proactive measures to assist virtual asset service providers in complying with regulations and curb criminality in the crypto space. The Financial Services Commission’s recent statement revealed that the Korea Financial Intelligence Unit (KoFIU), … Read more South Korean authorities have stepped up their efforts to combat crypto-related crime. Without specific laws addressing these challenges, the government has taken proactive measures to assist virtual asset service providers in complying with regulations and curb criminality in the crypto space. The Financial Services Commission’s recent statement revealed that the Korea Financial Intelligence Unit (KoFIU), an agency dedicated to combating money laundering and terrorist financing, has convened a consultative body meeting to strengthen the compliance capacity of virtual asset service providers. This move comes hot on the heels of forming…

TL;DR Breakdown The Blockchain Regulatory Certainty Act, a nonpartisan bill, has successfully navigated the Financial Committee in the United States. Described as a “huge win” for the United States by GOP Majority Whip Tom Emmer, the bill’s passage signals a shift in the nation’s approach to digital technology. The passage of the Regulatory Certainty Act is a significant step towards a future where Americans play a pivotal role in shaping the peer-to-peer digital economy. Description In a landmark move that signals a significant shift towards embracing the digital revolution, the United States has taken a decisive step with the passage of the Blockchain Regulatory Certainty Act. This nonpartisan bill, which has just successfully navigated the Financial Committee, is set to provide a clear regulatory framework for the burgeoning field of … Read more In a landmark move that signals a significant shift towards embracing the digital revolution, the United States has taken a decisive step with the passage of the Blockchain Regulatory Certainty Act. This nonpartisan bill, which has just successfully navigated the Financial Committee, is set to provide a…

TL;DR Breakdown Robert F. Kennedy Jr., a Democratic presidential candidate, confirms investing in Bitcoin, purchasing two BTC for each of his seven children amid criticism for promoting the digital asset without personal involvement. Kennedy reiterates plans to back the U.S. dollar with Bitcoin and supports capital gains tax exemptions for smaller investors and businesses, showcasing a progressive approach to cryptocurrency policy. Description In a bold move to demonstrate his unwavering support for the burgeoning world of cryptocurrency, Democratic presidential candidate Robert F. Kennedy Jr. made headlines by revealing a substantial Bitcoin investment earlier this year. Acknowledging the criticism he received for advocating the adoption of the digital asset without personal involvement, Kennedy has now taken action by … Read more In a bold move to demonstrate his unwavering support for the burgeoning world of cryptocurrency, Democratic presidential candidate Robert F. Kennedy Jr. made headlines by revealing a substantial Bitcoin investment earlier this year. Acknowledging the criticism he received for advocating the adoption of the digital asset without personal involvement, Kennedy has now taken action by purchasing two Bitcoins for each…

TL;DR Breakdown CoinsPaid rebounds after a hacker attack by the Lazarus Group, preventing higher losses through robust security measures and expert response. The company collaborates with crypto community members, initiates an investigation, and aims to lead an industry-wide initiative to strengthen security and prevent similar attacks in the future. Description In a shocking turn of events, leading cryptocurrency payment provider CoinsPaid recently experienced a major hacker attack on July 22nd, resulting in a loss of USD 37.3 million. The suspected culprit behind this audacious heist is the notorious Lazarus Group, a powerful hacker organization known for targeting high-profile companies worldwide. Despite the staggering nature of … Read more In a shocking turn of events, leading cryptocurrency payment provider CoinsPaid recently experienced a major hacker attack on July 22nd, resulting in a loss of USD 37.3 million. The suspected culprit behind this audacious heist is the notorious Lazarus Group, a powerful hacker organization known for targeting high-profile companies worldwide. Despite the staggering nature of the attack, CoinsPaid’s dedicated team of experts swiftly responded, fortifying their systems to minimize the impact and…

TL;DR Breakdown Sui Foundation severs ties with MovEx due to contract violations and alleged tampering with tokens. MovEx’s breach of agreement leads to termination as the primary contributor to DeepBook development. Tokens were transferred to the custodian wallet for security following suspicions of open trading. Description Sui Foundation has cut all ties with decentralized exchange MovEx, citing multiple contract violations. The Foundation allegedly paid $2.5 million SUI to MovEx for developing DeepBook, the network’s native order book. However, things took an unexpected turn when the Foundation discovered that MovEx had breached the terms of the agreement on three separate occasions by … Read more Sui Foundation has cut all ties with decentralized exchange MovEx, citing multiple contract violations. The Foundation allegedly paid $2.5 million SUI to MovEx for developing DeepBook, the network’s native order book. However, things took an unexpected turn when the Foundation discovered that MovEx had breached the terms of the agreement on three separate occasions by tampering with portions of the tokens involved. The contract stipulated that the funds provided by the Sui Foundation would be temporarily…

TL;DR Breakdown Industrial Bank pioneers China’s first commodity spot clearing digital RMB settlement service, integrating digital yuan into commodity trading scenarios. Chinese banks embrace digital yuan adoption in various operations, with seven other banks planning to offer similar services. The Central People’s Bank of China welcomes regional banks into its pilot, signaling the nation’s commitment to a secure and efficient digital future for financial transactions. Description In a significant move towards embracing the digital yuan, Industrial Bank, a Fuzhou-based joint-stock commercial bank, has introduced the country’s inaugural central bank digital currency (CBDC)-powered settlement service for bulk commodity spot clearing. The initiative carried out in collaboration with the Shanghai Clearing House, marks a milestone in the adoption of the digital yuan in … Read more In a significant move towards embracing the digital yuan, Industrial Bank, a Fuzhou-based joint-stock commercial bank, has introduced the country’s inaugural central bank digital currency (CBDC)-powered settlement service for bulk commodity spot clearing. The initiative carried out in collaboration with the Shanghai Clearing House, marks a milestone in the adoption of the digital yuan in the…

TL;DR Breakdown “Realst”, a new infostealer malware, targets Apple macOS users through fake blockchain games. The malware silently scrapes web browser data, including passwords, and can quickly drain cryptocurrency wallets. Users can protect themselves by only installing apps from the official Mac App Store, verifying links, using strong passwords, enabling two-step authentication, and keeping devices and applications updated. Description Security researchers have identified a new infostealer malware named “Realst”, which is currently being used by cybercriminals to target Apple macOS users, including those on the upcoming macOS 14 Sonoma.  However, Web3 security firm SlowMist warned through a blog post that the malware is being propagated through fake blockchain games such as Brawl Earth, WildWorld, … Read more Security researchers have identified a new infostealer malware named “Realst”, which is currently being used by cybercriminals to target Apple macOS users, including those on the upcoming macOS 14 Sonoma.  However, Web3 security firm SlowMist warned through a blog post that the malware is being propagated through fake blockchain games such as Brawl Earth, WildWorld, Dawnland, Destruction, Evolion, Pearl, Olymp of Reptiles, and…

TL;DR Breakdown Canadian regulator OSFI has proposed changes to the capital approach for digital assets. Addressing evolving risks in the global crypto landscape. Description Canadian regulator, the Office of the Superintendent of Financial Institutions (OSFI), has recently announced proposed changes to its capital and liquidity approach for crypto assets. The proposed rules aim to simplify institutions’ management of perceived risks associated with cryptocurrencies by defining four categories of crypto assets and their respective capital treatment. Canadian regulator seeks public … Read more Canadian regulator, the Office of the Superintendent of Financial Institutions (OSFI), has recently announced proposed changes to its capital and liquidity approach for crypto assets. The proposed rules aim to simplify institutions’ management of perceived risks associated with cryptocurrencies by defining four categories of crypto assets and their respective capital treatment. Canadian regulator seeks public consultation In an effort to ensure transparency and gather feedback from stakeholders, the Canadian regulator has initiated public consultations on two draft guidelines. The first guideline impacts federally regulated deposit-taking institutions, such as banks and credit unions, while the second addresses the regulatory…

TL;DR Breakdown EOS network foundation has taken legal action against Block.one over failure to pay investment commitments. Implications of the lawsuit on the companies and the wider crypto community. Description The EOS Network Foundation (ENF) has taken legal action against major investor Block.one (B1), alleging a failure to fulfill $1 billion in investment commitments. ENF founder and CEO, Yves La Rose, recently announced on Twitter that the foundation is preparing a lawsuit against B1 for its failure to follow through on its $1 billion commitment. … Read more The EOS Network Foundation (ENF) has taken legal action against major investor Block.one (B1), alleging a failure to fulfill $1 billion in investment commitments. ENF founder and CEO, Yves La Rose, recently announced on Twitter that the foundation is preparing a lawsuit against B1 for its failure to follow through on its $1 billion commitment. EOS network wants Block.one to pay $1 billion in investment commitments Block.one is currently working to settle another class-action lawsuit for $22 million after a previously proposed $27.5 million settlement with lead plaintiff Crypto Assets Opportunity was…