Circle’s merger with Concord Acquisition Corp, a special purpose acquisition company, or SPAC, values Circle at $4.5 billion, and the combined entity is expected to debut on the New York Stock Exchange under the ticker CRCL before the end of the year. The merger/offering was generally applauded within the crypto industry. Vladimir Vishnevskiy, director and
Regulation
Authorities in Malaysia destroyed more than $1.2 million worth of Bitcoin mining rigs after they were confiscated for operating illegally. In a video posted today from local news outlet DayakDaily, police in the city of Miri on the island of Borneo and the Sarawak Energy company arranged for a steamroller to run over 1,069 Bitcoin
A major cryptocurrency and blockchain association in Russia is launching a project to bring global crypto mining operations to the country amid a Chinese crypto mining crackdown. The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain, or RACIB, announced an initiative aimed at transferring global computing resources for crypto mining to the Russian Federation. More
Much attention has been paid to the global, geopolitical implications of China’s rapid and pioneering development of its digital yuan, also provisionally known as e-CNY. Yet in a new white paper published by the Working Group on E-CNY Research and Development of the People’s Bank of China (PBoC), the institution gave a more domestic-focused and
This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations. It has now been two months since the crypto crackdown and subsequent enforcement began. Most new stories are now just the trickling down
The U.S. Department of State has announced it will be taking a seemingly more active role in the pursuit of keeping some crypto users accountable. According to a Thursday Bloomberg report, the Biden administration intends to ramp up efforts to trace cryptocurrency payments, particularly when it comes to ransomware attacks. The government plans to address
Amid the ongoing regulatory uncertainty to cryptocurrencies in India, a high court in the country’s capital is taking action to regulate advertising by local crypto exchanges. The Delhi High Court has issued notices to local authorities and crypto firms in an effort to enforce guidelines for crypto exchanges advertising on national television, the New Indian
On July 13, the Securities and Exchange Commission, or SEC, pushed back its decision on Wisdom Tree’s Bitcoin ETF with a request for public feedback. This request will allow members of the public to communicate their position on whether the trust should be approved or denied. The SEC’s notice stated: “The Commission requests that interested
The European Central Bank, or ECB, joins the growing club of crypto-friendly financial institutions as it announces the decision “to launch a project to prepare for possibly issuing a digital euro.” The ECB’s official tweet noted: “We will look at how a digital euro could be designed and distributed to everyone in the euro area.”
Four men have reportedly been arrested in Japan’s Aichi Prefecture for running an allegedly fraudulent crypto investment scheme that persuaded investors they could reap returns on the basis of an artificial intelligence (AI)-led trading system. Roughly 20,000 Japanese investors nationwide are thought to have been drawn into the scheme, which raised an estimated total of
The Bank of England (BoE)’s latest Financial Stability Report, released twice yearly, acknowledges that increased crypto trading action and price volatility in 2021 signals that the sector is harboring “potential pockets of exuberance.” The report notes that the top market cryptos, Bitcoin (BTC) and Ether (ETH), saw a sharp appreciation in value over the 12
Indian’s stance on crypto adoption has maintained a gray composure ever since the birth of Bitcoin. In what seems like another blow for the Indian crypto community, one of the biggest financial services, ICICI Bank, has warned users to not use their remittance services for transferring any form of crypto or digital currency. In ICICI’s