Mohammed Ali

Italian lawmaker urges banking foundations in Italy to invest in Bitcoin

January 20, 2025 1 min read

An Italian lawmaker, Marcello Coppo, advocates for banking foundations in Italy to invest in Bitcoin. He believes that such investments could enhance support for the cryptocurrency in the country. Despite this push, Coppo does not expect Italy to create a strategic Bitcoin reserve shortly, especially as the U.S. is making significant progress in this area. In a recent interview with Criptovaluta, Coppo suggested that banking foundations allocate a small percentage

Bitget teams up with Jambo to fund a telecom satellite launch

January 18, 2025 1 min read

Bitget, a leading cryptocurrency exchange, has partnered with Jambo to support a telecom satellite launch aimed at enhancing decentralized access in emerging markets. Jambo plans to raise $5 million through a token sale on Bitget’s LaunchX platform to expand its blockchain ecosystem and facilitate this project. This collaboration is expected to increase Bitget’s visibility while allowing Jambo to integrate its blockchain communication hardware. Jambo, launched in 2022 and referred to

Worldcoin surpasses 10 million human verifications

January 11, 2025 1 min read

World, formerly known as Worldcoin, is a blockchain-based human verification project that recently announced it has registered over 10 million users globally. Launched in 2023 and supported by OpenAI CEO Sam Altman, the project uses electronic orbs to scan people’s eyeballs for verification. Participants receive WLD tokens for their involvement. The project’s goal is to create a reliable system to distinguish between AI agents and humans as society increasingly relies

Bhutan to adopt Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) as reserves

January 9, 2025 1 min read

The idea of digital asset strategic reserves is becoming popular. Vancouver’s Mayor has proposed making the city Bitcoin-friendly to protect reserves. Meanwhile, the Satoshi Action Fund plans to introduce up to 20 bills for Strategic Bitcoin Reserves across various US states. With the upcoming Trump election and expectations of a crypto bull run, many countries are starting to see the benefits of digital assets for reserve preservation. El Salvador was

Arbitrum awards its largest developer grant to South Korea’s Lotte Grou

January 9, 2025 1 min read

Arbitrum has made headlines by granting its largest developer grant to South Korea’s Lotte Group. This partnership aims to transform metaverse gaming using blockchain technology. The focus is on Caliverse, Lotte’s AI-driven metaverse platform, which will incorporate Arbitrum’s Layer-2 blockchain solutions. This integration promises smoother crypto payments and enhanced virtual experiences. The announcement took place at CES 2025 in Las Vegas. Although the grant’s value is not disclosed, it was

South Korea’s Exchange Chairman plans to introduce crypto-based ETFs this year

January 6, 2025 1 min read

Eun-Bo Jeong, the Chairman of South Korea’s Exchange, has expressed a keen interest in launching crypto-based exchange-traded funds (ETFs) this year, responding to a growing global demand for such financial products. During the Securities and Derivatives Market Opening Ceremony on January 2, Jeong underscored the necessity for innovative financial solutions to rejuvenate South Korea’s capital markets, which have faced significant economic challenges over the past year, including a contracting domestic

WazirX says creditors will receive their funds following court’s approval

January 4, 2025 1 min read

The WazirX hack, which resulted in the theft of over $230 million, has sparked significant controversy in 2024, leaving affected users in limbo for months. Recently, WazirX announced plans to distribute funds to eligible creditors through a restructuring scheme, pending court approval. A creditors’ meeting is scheduled for the 22nd of this month, which is a crucial step in the process. Once the court grants approval, WazirX aims to initiate

China enforces stricter rules requiring banks to monitor and report risky crypto transactions

January 2, 2025 1 min read

China has implemented stringent regulations aimed at monitoring and reporting risky foreign exchange and cryptocurrency transactions, as part of its ongoing effort to combat illegal cross-border financial activities. The State Administration of Foreign Exchange (SAFE) has mandated that banks track transactions related to underground banking, cross-border gambling, and illicit crypto activities. This initiative requires banks to scrutinize the identities of individuals and institutions involved, trace the sources of funds, and

Vietnamese authorities allegedly prevent losses of nearly $1.17 million

December 31, 2024 1 min read

Vietnamese authorities have stopped a major cryptocurrency scam, saving nearly 30 billion Vietnamese dong (about $1.17 million) and protecting 300 potential victims from fraud. The crackdown focused on Million Smiles, the company responsible for the fake scheme involving a made-up cryptocurrency called Quantum Financial System (QFS). The scheme drew in investors by misleadingly presenting QFS as part of a unique financial system tied to ancestral treasures and spiritual beliefs, making

MoonPay receives regulatory approval as MiCA compliant

December 31, 2024 1 min read

MoonPay, a crypto payments platform, has received a license under the European Union’s Markets in Crypto-Assets (MiCA) regulation, approved by the Dutch Authority for the Financial Markets (AFM). This approval allows MoonPay to operate its services across Europe in compliance with MiCA guidelines. Co-founder and CEO Ivan Soto-Wright emphasized that this achievement reflects MoonPay’s commitment to regulatory compliance and its role in bridging traditional finance with the evolving crypto landscape.

IRS classifies DeFi platforms as brokers under new

December 30, 2024 1 min read

On December 27, 2024, the IRS released a new rule that changes how decentralized finance (DeFi) is viewed by labeling DeFi front-end platforms as brokers, similar to decentralized exchanges (DEXs). New rules require platforms like Uniswap to follow Know Your Customer (KYC) protocols and share detailed transaction data with the IRS, starting in 2027. In the past, DeFi platforms focused on being decentralized and protecting user privacy, but these new

Sberbank joins Russia’s central bank’s plan to expand access to digital currency across the country