An ambitious initiative to implement digital versions of worldwide currencies is unlikely to get off the ground this year, officials said, as reported by Reuters. The project, previously known as the Utility Settlement Coin initiative, involves 13 of the world’s largest banks and would entail...
European crypto exchange Eterbase has announced a hack, affecting hot wallets for six of its listed cryptocurrencies and allowing hackers to make off with $1.6 billion in assorted cryptocurrencies, CoinDesk reported. The coins affected included bitcoin, ether, XRP, tezos, algorand and TRON, and the hackers...
The Australian Services and Investments Commission (ASIC) has banned John Louis Anthony Bigatton, who was the Australian national representative for crypto platform BitConnect, from engaging in financial services for the next seven years after he was found to be engaging in deceptive practices, a report...
Saudi Arabia has proposed a business passport built off of blockchain technology to help overcome trade finance challenges brought about by the pandemic, CoinDesk reported. A “Global Value Chain” (GVC) passport would let companies that adhere to the financial rules in their own nations display...
The U.S. Department of Justice is looking for the seizure of nearly $400 million as part of the sentence of defendant Mark S. Scott, according to a letter posted by CoinDesk. Scott allegedly worked with Ruja Ignatova and others to launder roughly $392.94 million of...
The Bermuda government is working on a plan to roll out a digital stimulus token to help residents and vendors, The Royal Gazette reported. Working in conjunction with stablecoin payment and foreign exchange platform Stablehouse, the idea was started last year but expedited due to...
The Bank of Korea (BOK) is speeding up its efforts to create a central bank digital currency (CBDC) experimental program, The Korea Times reported. BOK reportedly intends to release more information on a consulting collaboration with a local firm. A possible partner will assist the...
Crypto exchange ShapeShift is suing former engineer Azamat Mukhiddinov for allegedly stealing $900,000 in bitcoin via programs he installed on their servers, CoinDesk reported. Executives said on Thursday (Aug. 27), in a request for a jury trial, that Mukhiddinov’s reported theft was discovered May 21...
News came this week that Fidelity Investments has filed paperwork with the U.S. Securities and Exchange Commission (SEC) to launch a fund focused on bitcoin. Although the fund has no investors as yet, it was incorporated earlier this year and will be named Wise Origin...
