Vauld, the Coinbase-backed Indian cryptocurrency exchange, said on Monday it is suspending all withdrawals, trading and deposits as it battles financial challenges. Darshan Bathija, Vauld’s co-founder and CEO, in a blog post on the company’s website talked about the financial difficulties of business partners and customer withdrawals in excess of $197.7 million since June 12…
Chinese internet and tech giants on Monday signed an initiative to ban cryptocurrency and digital collectibles (NFTs), along with a promise not to establish secondary marketplaces. According to the South China Morning Post, Tencent and Ant Group joined a self-driven industry initiative to ban cryptocurrency and fight speculation. Platforms that sell digital collectibles “shall require…
Delhi Police busted an interstate gang of hi-tech fraudsters and arrested four persons who allegedly used to cheat gullible people on the pretext of facilitating online loans. According to Delhi Police, the gang used to deal in cryptocurrency. They learn tactics from YouTube and get in touch with Chinese nationals on telegram. The accused have…
The Federal Bureau of Investigation (FBI) in the US has offered a reward of up to $100,000 for information leading to the arrest of ‘Crypto Queen’ Ruja Ignatova. The FBI, which added her to its ‘Ten Most Wanted Fugitives’ list, said that Ignatova is being sought for her alleged leadership of a massive fraud scheme…
Cryptocurrency companies will need a licence and customer safeguards to issue and sell digital tokens in the European Union under groundbreaking new rules agreed by the bloc to tame a volatile “Wild West” market. Globally, crypto assets are largely unregulated, with national operators in the EU only required to show controls for combating money laundering….
As the Reserve Bank of India (RBI) further tightens its stand on cryptocurrencies, the 1 per cent tax deducted at source (TDS) on virtual digital assets (VDAs) and cryptocurrencies came into effect from Friday. The 1 per cent TDS will be levied on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a…
Cryptocurrency exchange Coinbase has provided sophisticated tools to the US Immigration and Customs Enforcement (ICE) agency to help it track transactions across Bitcoin, Ether and other cryptocurrencies. According to a report in Intercept, Coinbase sold an analytics software license to ICE for $29,000 in August last year, followed by a software purchase potentially worth $1.36…
When Doug Milnes started buying cryptocurrencies in January of this year, he felt like it could become an entirely new asset class for investors. Right now what it is making him feel is extremely unsettled. The marketing executive from Summit, New Jersey, says his holdings, including a number of different cryptocurrencies like ethereum, are down…
The nosedive in cryptocurrency markets has wiped out millions of dollars in funds stolen by North Korean hackers, four digital investigators say, threatening a key source of funding for the sanctions-stricken country and its weapons programmes. North Korea has poured resources into stealing cryptocurrencies in recent years, making it a potent hacking threat and leading…
The market for nonfungible tokens — such as artwork of bored apes — has been spiraling downward after sales sank sharply and the prices of popular NFTs plummeted over the last few weeks. The crypto niche is on course to record its first month with under $1 billion in sales since June 2021, according to…
