Worldcoin has dropped sharply as new legal challenges emerge in Kenya and Indonesia. Following a strong rally in April, the token has lost some of its recent gains, falling 7% in the last day and more than 22% this week. Trading activity in Worldcoin (WLD) has increased 64% despite of the price drop, indicating that…
Just days before its Senate vote, the GENIUS Act hit a political minefield: Trump family profits, UAE cash, and nine Democrats demanding answers. What really happened? GENIUS Act hits new resistance On Feb. 4, a bipartisan group of U.S. senators introduced the Guiding and Establishing National Innovation for U.S. Stablecoins Act, also known as the…
Indonesia’s digital ministry has frozen World Network’s local operating license after authorities found the project was operating under a registration belonging to a different legal entity. Indonesia’s Ministry of Communication and Digital — also known as Komdigi — has temporarily suspended the registration certificate of World Network, formerly Worldcoin, and WorldID services in Indonesia amid…
Cryptocurrencies are one of many dividing lines between the Liberal and Conservative parties of Canada. In 2022, Conservatives advocated for crypto as a way to “opt out” of inflation, blaming Liberal economic policy for driving inflation to 30-year highs and contributing to a spike in housing costs. Liberals, on the other hand, criticized crypto for…
UK regulators plan to ban retail investors from buying crypto assets with debt, citing financial risk and volatility. The UK is introducing sweeping rules for crypto, including a ban on buying these risky assets with debt. On Friday, May 2, the UK’s Financial Conduct Authority published a new document proposing new rules for crypto assets….
Regulatory shifts and increasing client demand prompted Morgan Stanley to start building a crypto trading feature for its E*TRADE platform. Latest regulatory shifts have prompted traditional financial institutions to bet on crypto. On May 1, reports surfaced that global asset manager Morgan Stanley is planning to offer crypto trading services to its E*TRADE clients. According…
Coinbase filed an amicus brief in a U.S. Supreme Court case involving crypto and potential IRS privacy violations. In a case challenging the Internal Revenue Service’s handling of user crypto data, Coinbase was the latest to weigh in. On April 30, the exchange filed an amicus brief to the U.S. Supreme Court in the Harper…
Stablecoin issuer firm Circle was recently granted in-principle approval from Abu Dhabi financial authorities to serve as a money services provider in the region. According to an official press release, the Financial Services Regulatory Authority of Abu Dhabi Global Market or ADGM have granted in-principle approval for the stablecoin firm to act as a money…
Australia’s financial intelligence agency is cracking down on inactive crypto exchanges, warning they could be deregistered to prevent misuse by criminals. The Australian Transaction Reports and Analysis Centre — also known as AUSTRAC — said many crypto exchange providers are no longer operating, yet remain on the official register, and now risk being deregistered if…
Coinbase called on California, New Jersey, Maryland, Washington, and Wisconsin to end their lawsuits over its staking services. Cryptocurrency exchange Coinbase is urging five U.S. states to abandon their lawsuits over the company’s staking services, warning that the legal actions are harming consumers and creating uncertainty. In a blog statement, the U.S.-based public crypto exchange…
