The U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) have unveiled charges against three UK nationals for a fraudulent non-fungible token (NFT) scheme involving “Evolved Apes,” promising a game development. “They allegedly took investor funds, never developed the game, and pocketed the proceeds.”
US Charges 3 UK Nationals in NFT Rug Pull Scam
The U.S.
Modi Reappoints Nirmala Sitharaman as India's Finance Minister — Investors Remain Concerned Over High Crypto Taxes
June 11, 2024
Indian Prime Minister Narendra Modi has reappointed Nirmala Sitharaman as Finance Minister. She remains instrumental in shaping India’s economic policies, including cryptocurrency regulation and taxation.
Nirmala Sitharaman Reappointed as Finance Minister
Indian Prime…
South Korea’s top financial regulator has issued guidelines clarifying when non-fungible tokens (NFTs) are considered virtual assets. This distinction aims to minimize the risk of widespread user harm. The guidelines will be part of the Virtual Asset User Protection Act…
Over the last 90 days, the stablecoin economy expanded by over 11%, with $16.23 billion infused into the market of fiat-pegged crypto tokens. In the past 30 days, USDE, the fourth largest U.S. dollar-pegged coin, experienced a 46.1% increase in its supply.
Stablecoin Market Swelled Last Season; USDE Climbs to Fourth Largest Dollar-Pegged Token
While the past month has seen minimal growth in the…
Trump Campaign Crypto Aide Announces Presidential Roundtable on Domestic Bitcoin Mining
June 10, 2024
David Bailey, CEO of Bitcoin Magazine and Trump campaign cryptocurrency aide, has announced that Former President Donald Trump will participate in a Presidential Roundtable on domestic bitcoin mining as part of its new cryptocurrency-friendly policy. He revealed that big…
A new study has found that crimes enabled by artificial intelligence in the cryptocurrency ecosystem are still in their nascent stages. Stakeholders can prevent these activities from becoming widespread through timely and measured responses. Data from the same study indicate…
A group of U.S. lawmakers led by Micheal McCaul, the House Foreign Affairs Committee chairman, has accused the Nigerian government of wrongfully detaining Tigran Gambaryan. The lawmakers have asked the Biden Administration to transfer Gambaryan’s case to the Office of Special Presidential Envoy for Hostage of Affairs.
Nigeria Using Gambaryan’s Detention to ‘Extort His Employer’
A group of…
Tether, the issuer of the USDT stablecoin and a leading player in the digital asset industry, has made a strategic investment of $18.75M in XREX Group, a fully regulated, blockchain-enabled financial institution. The investment aims to drive innovation in the digital asset…
Turkish Treasury and Finance Minister Mehmet Simsek has stated that there are no current plans to impose taxes on profits from cryptocurrencies. However, he mentioned that the government is considering implementing a “very limited” transaction tax on these assets, though…
On June 4, 2024, U.S. spot bitcoin exchange-traded funds (ETFs) saw their second-largest day of inflows since their launch in January. The inflows totaled approximately $886.6 million, with Fidelity’s FBTC leading, capturing $379 million on Tuesday.
U.S. Spot Bitcoin ETFs Secure Over $61 Billion in BTC Holdings
Spot bitcoin ETFs have been experiencing daily inflows consistently, and Tuesday’s…
