The UK’s financial watchdog, the Financial Conduct Authority (FCA), has expanded the number of companies required to file an annual financial crime report to include cryptocurrency firms. The number of firms now required to file a REP-CRIM has risen from approximately 2,500 to approximately 7,000, with the report intended to provide the FCA with “information on a range of indicators that reflect the potential money laundering risks of firms’ based on their regulated activity…”.
The U.S. government is trying to close out a claim of $300,900 in stolen USDT that it says is the result of fraud. The stolen USDT was frozen by Tether in April after the owners, a pair of Chinese citizens, reported the theft two months after it was taken. However, a court order saw the tokens transferred to a government-controlled USDT wallet following an attempt from a third party to obtain the tokens. The fate of the stolen USDT now rests with a California judge, who will decide who the rightful owners should be.
Read the full article at FullyCrypto: https://fullycrypto.com/300900-stolen-usdt-wanted-by-u-s-government
Central Bank Digital Currencies (CBDCs) are suddenly all the rage. China, Korea, France, Japan, and a host of smaller countries are all experimenting to varying degrees with a sovereign stablecoin, with the vast majority of developments occurring in the past year. Widespread adoption of CBDCs would impact the global economy in many ways, but one less recognized impact could be on how cash is viewed in this new paradigm. A digital world could see cash users being scrutinized with the same eyes that cryptocurrency users are currently seen, accused of seeking privacy in their payments.
Read the full article at FullyCrypto: https://fullycrypto.com/cbdc-uptake-could-criminalize-cash-users
Everyone seems to be getting their panties in a bunch over the idea of digital currencies. Sure, cryptocurrencies are really cool and they work really well, but all this talk of a digital Euro or a digital Dollar seems like pointless noise.
Read the full article at FullyCrypto: https://fullycrypto.com/whats-the-difference-between-a-digital-euro-and-a-regular-one
INDX, the masternode and staking platform that has failed to launch three years after its conception, has changed course and announced Jellyfish, a DeFi product. Having suffered from what the company calls “systemic obstacles within the industry”, INDX has chosen to move into the DeFi space in the hopes of sidestepping the issues they have faced since beginning work in 2017, with the platform set to launch in early 2021.
Read the full article at FullyCrypto: https://fullycrypto.com/indx-pivots-into-defi-with-jellyfish
Bitcoin used to be beholden to nothing more than its own price whims, but these days the scenario is much different. There are now a huge range of factors that cause Bitcoin manipulation, and taking them all together is enough to make any trader consider giving up the game altogether. In a sign of just how much things have changed over the years, we look at what factors impact Bitcoin manipulation today – if you can handle it.
https://fullycrypto.com/is-bitcoin-manipulation-the-worst-in-the-world
Elon Musk has clarified his feeling about Bitcoin a few days after causing a price spike by apparently referencing it on Twitter. Appearing in an interview on social media app Clubhouse, Musk discussed Bitcoin and Dogecoin, saying that he was a “Supporter” of Bitcoin and admitting that he should have bought in sooner, while adding that he likes to joke about Dogecoin.
Read the full article at FullyCrypto: https://fullycrypto.com/elon-musk-confirms-he-is-a-supporter-of-bitcoin
NFT platform OpenSea and other such platforms are not marketplaces but are instead “windows into a gallery where your NFT is hanging”, according to one of its community managers. In an interview with Motherboard published yesterday, Ed Clements was said that the distinction was important because the artist could pull the NFT art at any time, leaving the platform to “decide whether or not they want to close their window.” His clarification came after a spate of “disappearing” NFTs has left buyers with the uncomfortable realisation that they don’t own the digital representation of the piece they have bought but instead a piece of code attributed to it.
Read the full article at FullyCrypto: https://fullycrypto.com/nft-platforms-are-windows-that-can-be-shut-says-opensea
RUNE has become the first token to graduate from the DEGEN Index, with creator @Redphonecrypto already naming the replacement as Rari Capital’s governance token RGT. As per the rules of the DEGEN Index, only coins under a $2 billion market cap can be included, and with RUNE passing this threshold this week it was time for it to make way for a smaller replacement.
Read the full article at FullyCrypto: https://fullycrypto.com/degen-index-sees-first-graduation-as-rune-makes-way