UN Report Reveals Tether (USDT) as Most Used Crypto in Illicit Money Laundering Across East and Southeast Asia

by Александр Пирогов | Jan 16, 2024 | Blog News

A report from the United Nations Office on Drugs and Crime (UNODC) sheds light on the growing role of casinos, junkets, and cryptocurrencies in underground banking and money laundering across East and Southeast Asia. The report identifies Tether (USDT) as the most...

Terra Founder Do Kwon Appeals Extradition Decision Amid Alleged Political Pressure on Montenegro High Court

by Александр Пирогов | Jan 16, 2024 | Blog News

Do Kwon, the founder of Terraform Labs, has once again appealed the Montenegro High Court’s decision to uphold extradition requests from the U.S. and South Korea. Kwon, facing criminal charges related to the collapse of Terra, had previously won an appeal in...

Circle Completes Upgrade of USDC Stablecoin to Version 2.2: Improvements Include Gas Efficiency and Fork Resilience

by Александр Пирогов | Jan 16, 2024 | Blog News

Circle, the stablecoin company, has successfully upgraded its USDC stablecoin to version 2.2. This upgrade introduces several improvements, including enhanced gas efficiency, support for account abstraction and smart contract wallets, and increased resilience in...

IMF Chief Differentiates Crypto as Asset Class, Not Money, Dismissing Bitcoin’s Threat to US Dollar Dominance

by Александр Пирогов | Jan 16, 2024 | Blog News

International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated in an interview that crypto should be classified as an asset class rather than money. She dismissed concerns about bitcoin displacing the U.S. dollar, emphasizing the U.S. economy’s...

South Korea Considers Specific Regulations for Cryptocurrency Mixers to Combat Money Laundering

by Александр Пирогов | Jan 16, 2024 | Blog News

South Korean financial authorities are contemplating the introduction of targeted regulatory measures for cryptocurrency mixers to address concerns over their misuse in money laundering by criminal organizations. The Financial Intelligence Unit (FIU) of South...

OKX’s Dubai Subsidiary Secures Virtual Asset Service Provider License

by Александр Пирогов | Jan 16, 2024 | Blog News

OKX’s subsidiary in Dubai has received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) for exchange services. While the license has been granted, OKX emphasized that it remains...