U.S. Senate Votes to Overturn SEC’s Controversial SAB 121

by Александр Пирогов | May 17, 2024 | Blog News

In a significant development for the cryptocurrency industry, the U.S. Senate has voted 60-38 to overturn the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin No. 121 (SAB 121). This controversial rule, which imposes regulatory burdens on digital...

EU’s MiCA Regulation Forces Tough Decisions for DeFi Protocols

by Александр Пирогов | May 16, 2024 | Blog News

New regulations in the European Union could soon compel decentralized finance (DeFi) protocols to make significant changes. The upcoming Markets in Crypto-Assets Regulation (MiCA), set to be fully enforced by the end of 2024, will impose licensing and Know Your...

Dutch Court Sentences Tornado Cash Developer to 64 Months in Prison

by Александр Пирогов | May 16, 2024 | Blog News

The Oost-Brabant district court in the Netherlands has sentenced Alexey Pertsev, co-developer of Tornado Cash, to 64 months in prison for his involvement in creating and maintaining the crypto mixing tool. The court alleges that Tornado Cash enables “criminal activity...

Ethereum Proposes EIP 7706 to Optimize Transaction Costs

by Александр Пирогов | May 16, 2024 | Blog News

A new proposal, EIP 7706, aims to enhance how Ethereum handles transaction costs, specifically focusing on the data aspect crucial for smart contract interactions. Understanding Ethereum’s current gas model is essential to grasp the significance of this update....

Oklahoma Signs Bill Protecting Crypto-Related Rights

by Александр Пирогов | May 16, 2024 | Blog News

The state of Oklahoma has enacted a new law safeguarding crypto-related rights, with Governor Kevin Stitt approving HB 3594 on May 13. This legislation will take effect on November 1, as indicated on the Oklahoma State Legislature website. Under the new law, the...

Binance Bribery Allegations Could Deter Foreign Investment in Nigeria

by Александр Пирогов | May 13, 2024 | Blog News

Africa-focused risk consultancy firm SBM Intelligence has issued a warning regarding the potential negative impact of bribery allegations against Binance CEO Richard Teng on Nigeria’s foreign investment efforts. According to SBM Intelligence, the recent...