Investors from Iran are utilizing the cryptocurrency platform, BingX, for potentially sanctioned transactions. The website offers a Farsi language version and the ability to exchange Iranian Rials for Tether (USDT), which is mentioned but restricted under the jurisdiction of the US Treasury Department’s Office of Foreign Assets Control (OFAC). Iran faces sanctions for alleged support … Read more
The co-CEO of FTX, who is also known as Yuga Labs, made an announcement: all royalties derived from their new income source will be deposited into a trading account that’s part of a larger cryptocurrency fund. This account’s location is at the merchant bank, FTXUS. Yuga Labs, the business responsible for creating Bored Ape Yacht … Read more
US Senator Marsha Blackburn spoke at the Bitcoin Policy Summit in 2024 about how Bitcoin can help consumers save on increasing credit card transaction fees and hidden charges. At the event, she highlighted the growing concern over swipe fees for merchants, leading many to explore alternatives like Bitcoin as a means to avoid these expensive … Read more
Australian lawyers have withdrawn the criminal case against Meta (META.O) brought by mining tycoon Andrew Forrest over accusations of deceptive cryptocurrency ads featuring his image on Facebook. This decision thwarted Forrest’s efforts to hold the tech giant accountable for false advertising on the internet. Meta is currently involved in a civil lawsuit initiated by Forrest … Read more
Worldwide, financial technology companies face a more complex regulatory environment. As a result, elaborate legal frameworks have emerged to govern the activities of entities like crypto asset service providers (CASPs), cryptocurrency exchanges, investment firms, forex brokers, banks, and other financial institutions, particularly in Europe. Europe’s evolving crypto regulatory landscape In simpler terms, the rules governing … Read more