British Hacker Joseph O’Connor, also known online as PlugwalkJoe, has been sentenced to five years in U.S. prison for his role in stealing $794,000 worth of cryptocurrency via a SIM swap attack on a crypto exchange executive back in April 2019. O’Connor was initially arrested in Spain in July 2021 and was extradited to the
Regulation
The CEO of Hong Kong’s Securities and Futures Commission (SFC), Julia Leung Fung-yee, addressed Hong Kong’s embrace of Web3 regulation following the collapse of crypto exchange FTX last November, noting that crypto trading is an important part of the virtual asset ecosystem. During a recent speech, Leung reportedly explained that the new licensing system for
Debit cards offered through crypto payment service Wirex may stop functioning in the European Economic Area (EEA), according to a June 23 email the company sent to some of its customers. The threat of stoppage was triggered by Lithuania’s central bank revoking the license of UAB PayrNet, Wirex’s card provider. This news comes after Wirex’s
The four major media outlets advocating for the release of FTX customer names have opposed the decision to seal them. Meanwhile, a crypto lawyer told Cointelegraph that “there is clear evidence” of potential harm if the names were to be disclosed. According to a Reuters report published on June 23, Bloomberg, Dow Jones & Company,
Fabio Panetta, an executive board member of the European Central Bank (ECB), has suggested a dark future for cryptocurrencies, in which the digital assets may be used for little more than gambling among investors. In written remarks for a panel at the Bank for International Settlements Annual Conference on June 23, Panetta said crypto’s perception
This “Crypto City” guide looks at Sydney’s crypto culture, the city’s most notable projects and people, its financial infrastructure, what retailers accept crypto and where you can find blockchain education courses — along with a history of its crypto controversies. Jump to: Crypto culture, Projects and companies, Financial infrastructure, Where can I spend crypto? Controversies
U.S. crypto exchange Binance.US has informed customers it has resolved its U.S. dollar withdrawal issues after working with its banking partners but warns the relief may not last. The reportedly independent subsidiary of crypto exchange Binance told customers in a June 22 update that its system remains fully operational and that USD withdrawal requests are
The European Union debit card provider for Cryptopay has lost its Electronic Money Institution (EMI) license, according to a June 22 email sent to its customers. The company recommends to EU cardholders that they should immediately spend or transfer funds from their cards. Funds held in the app’s accounts are safe, Cryptopay told Cointelegraph. Cryptopay
The Japanese Ministry of Education, Culture, Sports, Science and Technology plans to allow schools from elementary to high school level limited usage of generative artificial intelligence (AI) in classrooms. According to a local news outlet, a source close to the matter said that generative AI tools, such as the popular chatbot ChatGPT, will be allowed
Blockchain-based payments firm Ripple has obtained in-principle regulatory approval from Singapore’s financial regulator to offer digital asset payments and token products in the city-state. Ripple confirmed the approval from the Monetary Authority of Singapore (MAS) in a June 22 statement. The approval will allow its subsidiary — Ripple Markets Asia Pacific — to further scale
Cryptocurrency fund manager Valkyrie is applying for a Bitcoin spot exchange-traded fund (ETF), joining several other financial firms that have filed similar applications with the United States Securities and Exchange Commission (SEC) in the last week. Valkyrie filed an S-1 registration form for a Bitcoin spot ETF with the SEC on June 21. In it, the firm
Among the more memorable displays at Bitcoin 2023 is a real-life toilet with the logos of various non-Bitcoin cryptocurrencies. It’s an ad for a booth selling “buttwipes” that are “moistened with the tears of no-coiners.” The marketing message is clear: Bitcoin is the real thing — everything else is a shitcoin that belongs in the
Canadian citizens are being advised to double-check crypto trading service providers, as the platforms may be using “fictitious” regulatory bodies to boost their credibility. According to a June 20 Investor Alert from the Canadian Securities Administrators, some “purported” crypto platforms are claiming to be approved by certain regulatory authorities or dispute resolution organizations in “an
A diverse group of United States enforcement agencies has made official its cooperation on crimes related to the darknet and digital currency with the announcement of the Darknet Marketplace and Digital Currency Crimes Task Force on June 20. The new organization will target “cryptocurrency-enabled crimes” such as drug trafficking, money laundering, theft of personal information
Consumer protection groups from the European Union (EU) have urged regulators to conduct investigations on artificial intelligence (AI) models behind popular chatbots. According to a report from the AP on Tuesday, 13 watchdog groups issued a warning to their national consumer, data protection, competition and product safety authorities regarding concerns about generative AI. The groups
Despite seeing themselves as more “risk averse” than their older counterparts, nearly a third of all young Australian investors hold or have traded cryptocurrencies over the last year, a new study has found. In an Australian investor study from the Australian Securities Exchange (ASX), 46% of “next generation investors” — the report’s terminology for investors
Once again, the United States Securities and Exchange Commission (SEC) became the week’s headliner. Its intention to freeze the entirety of Binance.US’s assets got a reality check from U.S. district court Judge Amy Berman Jackson, who advised the regulator and the crypto exchange to negotiate a deal bilaterally. The resulting agreement outlines measures for Binance.US
Macro Markets, hosted by crypto analyst Marcel Pechman, airs every Friday on the Cointelegraph Markets & Research YouTube channel and explains complex concepts in layperson’s terms, focusing on the cause and effect of traditional financial events on day-to-day crypto activity. Episode 13 of Cointelegraph’s Macro Markets begins by exploring why the United States Federal Reserve’s
Coinbase has slammed the United States securities regulator for failing to answer questions asked in the U.S. Court of Appeals as part of its ongoing legal battle with the regulator. In a June 17 letter filed in the Court, lawyers for the crypto exchange accosted the Securities Exchange Commission (SEC) for continuing to offer “no
Changpeng ‘CZ’ Zhao, the CEO of Binance, expressed his happiness and sense of relief as the prolonged dispute with the United States Securities and Exchange Commission (SEC) has been successfully resolved. The SEC’s ongoing scrutiny had created a tense and uncertain period for the company, making the resolution a significant milestone. Nonetheless, as the regulatory
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