Excerpt: Elizabeth Warren warns that one-third of U.S. crypto-mining facilities are Chinese-owned, posing national security risks. She cites potential espionage and cyberattack threats, urging stronger legislation.
Japanese crypto giant @bitFlyer has acquired 100% of FTX Japan, rebranding it as “Custody New Company” by Aug 26. This move enhances bitFlyer’s crypto custody services, leveraging its wallet tech and operational resources. #CryptoNews
Japanese crypto giant bitFlyer has acquired FTX Japan, rebranding it as “Custody New Company” by August 26. This move aims to expand bitFlyer’s crypto custody business and explore new services. FTX Japan, under Chapter 11 since November 2022, will integrate into bitFlyer’s operations. #CryptoNews
Sen. @ewarren warns of national security risks from foreign-owned crypto mining firms, noting one-third are Chinese-owned. A 2024 divestment order targets MineOne near a U.S. Air Force base for potential espionage. #NationalSecurity #CryptoMining
Swiss regulator FINMA mandates stablecoin issuers verify identities of all token holders to mitigate risks. This guidance, effective July 26, aims to enhance regulatory clarity. For more info, visit FINMA Guidance.
Ethereum ETFs launched in the U.S. on July 23, 2024, generating over $1.1 billion in trading volume on their first day. This significant milestone follows the success of Bitcoin ETFs, which have seen $17 billion in net inflows since January. Ethereum is viewed as a technology investment, potentially influencing future adoption. The strong demand for Ethereum ETFs suggests growth potential, similar to Bitcoin. This launch enhances the crypto landscape and signifies growing institutional interest in digital assets. Source
Swiss watchdog @FINMA mandates identity verification for stablecoin holders from July 26. Issuers must verify token holders and beneficial owners, with banking licenses required for public deposits. Protections also include depositor claims in issuer bankruptcy. #CryptoRegulation
Ripple Labs and the SEC continue their legal face-off. Lawyer Bill Morgan disputes a “showdown” over settlement, while CEO Brad Garlinghouse remains optimistic. The SEC claims $1.3B in unregistered XRP sales, complicating Ripple’s plans for a U.S. IPO. #CryptoNews
Russian ransomware groups, including @Lockbit and BlackCat/ALPHV, raked in $500M in crypto in 2023. Over 80% of sanctioned crypto volume tied to Russia-based exchange Garantex, aiding military equipment purchases for Ukraine conflict. #CyberSecurity
Japanese financial giant SBI Group and U.S. asset manager Franklin Templeton join forces to potentially introduce spot Bitcoin ETFs in Japan. This move aligns with Japan’s push for broader cryptocurrency acceptance. #CryptoNews
WSPN partners with @CanzaFinance to bring blockchain financial services to Africa. Using $WUSD stablecoin, they aim to boost financial inclusion by converting local currencies for remittances and savings. Canza’s Baki platform maintains 1:1 parity with central bank rates, combating currency devaluation. #Finance #Blockchain
SBI Group and Franklin Templeton are launching spot Bitcoin ETFs in Japan, pending regulatory approval. SBI will own 51%, signaling potential backing from Japan’s Financial Services Agency. This move supports Japan’s exploration of alternative assets. Source
Nigeria’s government is training 1,000 youths in AI and blockchain, aiming to boost its economy as the global AI market approaches $190 billion by 2025, enhancing job opportunities and innovation.
Russian ransomware groups raked in $500M+ in crypto in 2023, says TRM Labs. Lockbit hit Boeing, while BlackCat/ALPHV attacked MGM. Russia-based Garantex handled 80% of sanctioned crypto volumes, funding military gear from China. New bills may let Russia use crypto for trade. #CryptoNews
