Latest Crypto News

Hong Kong rocked by another $18.9 exchange fraud scandal, HTX offers airdrop in wake of $30M hack, and digital yuan takes off in HK and China. Our weekly roundup of news from East Asia curates the industrys most important developments.Yet another crypto scandal in Hong Kong Scammers posing as investment experts allegedly enticed 145 victims to tip $18.9 million into the unlicensed Hong Kong crypto exchange Hounax.According to reports earlier this week, the police said investors were allegedly promised up to 40% return per annum with “no risk” in its advertisements. After users deposited their funds, they were unable to withdraw them. On November 1, the Securities & Futures Exchange (SFC) of Hong Kong listed Hounax on its billboard of suspicious…Read More

Australians are increasingly adding cryptocurrency to their “self-managed super funds” as a means to secure their retirement life, according to newly released data. Australians are increasingly looking to cryptocurrency to secure a peachy retirement, with allocation to the asset class from self-managed retirement funds increasing 400% in just four years — with the growth rate surpassing stocks and bonds.As of the quarter ending in September, the nearly 612,000 self-managed super funds (SMSFs) are holding a total of $658.6 million (992 million Australian dollars) worth of cryptocurrencies, statistics released on Nov. The latest figure is a 400% increase from the same quarter in 2019 — which closed out at just under $131.5 million (198 million Australian dollars). In Australia, self-managed super…Read More

Thanks to the IRS, your favorite decentralized exchange may need to begin asking for your address, birthdate, and other personal information beginning in 2025. The United States Internal Revenue Service (IRS) is considering a proposal that would have sweeping consequences for the cryptocurrency industry. The IRS is proposing an initiative under Section 6045 of the tax code to establish new tax rules for the treatment of cryptocurrency providers. Specifically, the agency is seeking to amend the law to expand the definition of “brokers” to include nearly all crypto-service providers — including, for instance, decentralized exchanges (DEXs) and wallet providers. The IRS’s move to redefine “broker” is not just a regulatory tweak but a fundamental shift that could reshape the entire U.S. Example…Read More

According to an open letter published on Circle’s blog, the company has not provided services to Justin Sun since February. USD Coin (USDC) stablecoin issuer Circle has denied claims of illicit financing and ties to Tron founder Justin Sun in an open letter posted to Circle’s blog on Nov. Circle’s open letter to U.S. Source: CircleThe post was published on Nov. In the letter, Disparte claims that Circle has “recently became aware” of “false” claims being made about it by the “so-called Campaign for Accountability.” The letter adds that “Circle does not facilitate, directly or indirectly, or finance Hamas (or any other illicit actors).” In addition, it does not “bank” or provide financial services to Sun, Disparte claimed.Disparte dismissed the…Read More

Kristin Johnson proposed several potential paths for handling digital assets in the United States — through Congress, having private companies address governance and the courts. Kristin Johnson of the United States Commodity Futures Trading Commission (CFTC) said there are many ways of handling cryptocurrencies in the country, but legislating through courts could provide a solid, if slow, path.Speaking at the Blockchain Association’s Policy Summit in Washington, D.C. 30, Johnson said the “best outcome” for corporate governance of crypto firms would be to have companies implement their own plans. She cited policymakers introducing reporting requirements for Binance as part of a $4.3 billion settlement with the crypto exchange.We’re honored to welcome @CFTCjohnson to the #BAPolicySummit stage for our next session as…Read More

Digital personalization company Dynamic Yield by Mastercard was purchased from McDonald’s in 2022. Dynamic Yield by Mastercard, a digital personalization and artificial intelligence subsidiary of Mastercard, announced the launch of its Shopping Muse generative AI chatbot assistant for e-commerce on Nov. The AI system was revealed in a company blog post. Shopping Muse generative artificial intelligenceGenerative AI systems, such as OpenAI’s ChatGPT and DALL-E, are designed to convert colloquial user commands into text, video, audio or even computer code. In the case of Shopping Muse, users can make plain-language requests in the context of an online marketplace, and the AI system will generate personalized recommendations via a process Dynamic Yield refers to as algorithmic content matching.As Ori Bauer, CEO of…Read More