The Financial Task Force of Latin America (GAFILAT) released an evaluation of the state of El Salvador regarding compliance with international anti-money laundering requirements. The institution found that, while El Salvador included bitcoin as legal tender in 2021, the crypto asset has not reached a ‘significant impact’ or elevated transactional volumes. Financial Task Force of […]
United Texas Bank has been issued a cease and desist order by the U.S. Federal Reserve and the Texas Department of Banking due to significant compliance deficiencies. The bank must take immediate action to rectify issues related to its anti-money laundering (AML) program and corporate governance oversight. Cease and Desist Order for United Texas Bank […]
Hamster Kombat, the Telegram tap-to-earn gaming sensation, is facing legal woes in Russia stemming from conflicts between its alleged creator, Eduard Gurinovich, and one of its early investors, Ad.ru, an IT holding company. According to reports from Lenta.ru, a popular Russian online newspaper, Gurinovich created Hamster Kombat using a company named Arenum, of which Ad.ru […]
A group of Democrat lawmakers, including Massachusetts Senator Elizabeth Warren, has penned a letter to Commodities and Futures Trading Commission (CFTC) Chairman Rostin Behnam, urging the agency to prohibit all forms of election-related gambling in the United States. This appeal is timely, as Polymarket, a blockchain-based platform for real-time prediction markets, has gained traction with […]
Indian crypto exchange Wazirx has filed a police complaint and is pursuing legal action after a cyberattack led to a loss of over $ 230 million. The exchange is collaborating with global partners and authorities to trace and recover the stolen funds. Meanwhile, Liminal Custody has insisted that its platform remains secure and that …