Day: June 25, 2021

The Financial Action Task Force (FATF) has published the organization’s 12-month review and the research highlights that only 45% of the 128 reporting jurisdictions have complied with AML/CFT policy and FATF recommendations. The annual review stresses that the “lack [of] effective” regulation makes it “challenging for competent authorities to follow the transaction trail, buying more time for criminals to move criminal proceeds.” Less Than Half of the Reporting Jurisdictions Have Met FATF’s Crypto Compliance Standards Over the last few years, the FATF intergovernmental organization has been focused on virtual assets…

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The notorious meme crypto asset dogecoin has seen better days, as the digital currency tapped an all-time high (ATH) two months ago at $0.737 per unit. Today, dogecoin is down 67% since the ATH and over 30% during the last three months as interest in the dog meme coin is waning. Dogecoin Interest Dives, Meme-Token’s Value Down 67% Since ATH Worldwide interest in DOGE is slipping, as the search query “dogecoin” on Google Trends (GT) has slid from an ATH in interest. Dogecoin lost 79% by scoring a 100 in…

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Banks and credit unions of all sizes can now facilitate the buying, selling, and holding of bitcoin within their banking platforms thanks to a collaboration between Finserv and New York Digital Investment Group (NYDIG). Finserv currently has about 10,000 financial institution clients. All Banks Can Now Let Customers Buy, Sell, Hold Bitcoin via Bank Accounts Finserv Inc. (NASDAQ: FISV), a global leader in payments and financial technology, announced Wednesday that “Banks and credit unions of all sizes can facilitate buying, selling, and holding bitcoin within their digital banking platforms.” To…

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Bitcoin ATM operator Athena Bitcoin has unveiled its plan to install 1,500 bitcoin ATMs in El Salvador. Initially, the company will install dozens of machines as a test. El Salvador President Nayib Bukele wants 1,500 bitcoin ATMs installed and Athena Bitcoin said, “we will go for that, but in phases.” Athena Bitcoin said Thursday that it plans to invest over $1 million to install cryptocurrency ATMs in El Salvador, particularly where residents receive remittances from abroad, Reuters reported, citing a company representative. The firm expects to gradually install about 1,500…

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British police have carried out U.K.’s largest crypto seizure to date. Detectives working on a money laundering case found a staggering £114 million worth of cryptocurrency in a suspect’s account. Scotland Yard vowed to continue the investigation. UK Makes One of World’s Largest Crypto Seizures Acting on intelligence about the transfer of criminal funds, specialist detectives confiscated £114 million (over $158 million) in crypto, Britain’s Metropolitan Police Service (MPS) announced Thursday. The agency responsible for law enforcement in the Greater London area described the operation as the biggest cryptocurrency seizure…

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Citigroup has reportedly set up a “digital assets group” to offer clients access to cryptocurrencies, which will operate within the bank’s wealth management division. Citigroup has established a “digital assets group” within its wealth management unit, according to a memo to staff seen by Bloomberg. Iain Armitage, global head of capital markets for Citi Private Bank, and Rob Jasminski, who oversees the bank’s investment management arm globally, said in the memo that the new digital assets group will be led by Alex Kriete and Greg Girasole, the publication conveyed. They…

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El Salvador President Nayib Bukele has announced a bitcoin giveaway to promote the cryptocurrency’s use as legal tender in the economy and to give people an incentive to use the government’s official wallet application. $30 in Free Bitcoin The president of El Salvador, Nayib Bukele, addressed many topics regarding his country’s new bitcoin law Thursday night. During his speech, he unveiled the Salvadoran government’s wallet app and a signup bonus of $30 in bitcoin. “The wallet of the government of El Salvador is called Chivo,” Bukele explained, adding that users…

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PRESS RELEASE. SafeEarth creates access to DeFi and at the same time, helps restore the world’s ecosystem and help humanity through collaborating with the most impactful projects. 25th June 2021, London, England Users of SafeEarth can enjoy the benefits offered by DeFi whilst preserving the delicate balance of the world. Today, the project announces it has successfully issued donations in excess of $200,000 to various user-selected charities and projects that range from cleaning the ocean to enabling access to healthcare and education for children. A staggering amount of positive feedback…

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Following Africrypt’s collapse, South African regulator, the Financial Sector Conduct Authority (FSCA), released a statement asserting its lack of jurisdiction over cryptocurrencies. Although the regulator says it is “continuing to investigate complaints” against the crypto investment company, it concedes it has only “found evidence of crypto-asset transactions.” A Large Number of Scams While the FSCA says it’s not in a position to take any regulatory action, in a statement released June 24, 2021, the regulator uses the Ponzi scheme’s global notoriety to warn the public about the “high-risk nature of…

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Nigerian artists are now increasing their net worth by leveraging the art world’s lucrative pivot to non-fungible tokens (NFT). According to reports, this move to NFTs is happening despite the Nigerian central bank’s renewed anti-crypto stance. NFT Bubble Concerns As a recent CNN report explains, growing interest in NFTs from Nigerian artists comes alongside warnings of a potential downturn in sales. For instance, Bitcoin.com News has already reported that NFTs sales plummeted by 90% since the market’s record sales on May 3. The same report also revealed that the number…

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