MAS Commits Up to S$100 Million to Boost Quantum and AI Capabilities in Financial Sector

by Theresa Joy Lacatan | Jul 22, 2024 | AI News, Blog News

The Monetary Authority of Singapore (MAS) announced on 18 July 2024 a substantial commitment of S$100 million under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0) to enhance quantum and artificial intelligence (AI) capabilities within the...

IRS Enhances Identity Authentication Process for FATCA Registration

by Theresa Joy Lacatan | Jul 22, 2024 | Blog News, Crypto News

On 17 July 2024, the Internal Revenue Service (IRS) announced that it will enhance the identity authentication process for financial institutions registering under the Foreign Account Tax Compliance Act (FATCA). Effective 14 July 2024, taxpayers must sign in or...

SEC Awards Over $37 Million to Whistleblower, Bolstering Regulatory Compliance

by Theresa Joy Lacatan | Jul 20, 2024 | Blog News, Crypto News

On 17 July 2024, The Securities and Exchange Commission (SEC) announced an award exceeding $37 million to a whistleblower whose information significantly contributed to a successful enforcement action. This individual provided previously unknown information to the...

WazirX Faces $230 Million Security Breach Amid Regulatory Challenges

by Theresa Joy Lacatan | Jul 20, 2024 | Blog News, Crypto News

On 17 July 2024, Indian cryptocurrency exchange WazirX has revealed a major security breach resulting in the theft of over $230 million from one of its multisig wallets. The incident, involving Liminal’s digital asset custody services, has led to the immediate...

OKX Announces Withdrawal from Nigerian Market Amid Regulatory Crackdown

by Theresa Joy Lacatan | Jul 19, 2024 | Blog News, Crypto News

Cryptocurrency exchange OKX has informed its Nigerian clients that they have until 16 August 2024 to close their positions as the exchange ceases operations in the African country due to local regulatory challenges. The announcement came in an emailed statement dated...

SEC Approves More Ether ETFs, Paving the Way for Expanded Trading

by Theresa Joy Lacatan | Jul 19, 2024 | Blog News, Crypto News

The U.S. Securities and Exchange Commission (SEC) on 17 July 2024, approved multiplle Ether exchange-traded funds (ETFs), including Grayscale’s mini Ethereum ETF and ProShares’ Ethereum ETF. These funds are scheduled to begin trading next week, alongside other spot...