Crypto

The Enforcement Directorate (ED) has taken decisive action against the online gaming app 'E-Nugget', seizing Rs 90 crore from cryptocurrency wallets linked to the scam. This move is part of a larger money laundering investigation that has uncovered illicit activities and frozen a total of Rs 163 crore worth of assets.

CFTC Commissioner Kristin Johnson has proposed heightened penalties for AI-related misconduct in financial markets, citing concerns over manipulation, fraud, bias, and customer protection. Johnson emphasizes the need for collaboration between regulators and industry participants to develop effective oversight frameworks for AI in finance.

Changpeng Zhao, the former CEO of the world's largest cryptocurrency exchange Binance, was sentenced to four months in prison after pleading guilty to violating U.S. money-laundering laws. The sentence, imposed by U.S. District Judge Richard Jones in Seattle, came after prosecutors accused Binance of operating like a "Wild West" model, welcoming criminals and failing to report over 100,000 suspicious transactions with designated ter...

Block Inc. CEO Jack Dorsey addressed a potential Department of Justice investigation during the company’s first-quarter earnings call, clarifying that the company had proactively investigated potential threats in 2022 related to transactions possibly linked to sanctioned countries. Dorsey emphasized the company's robust control environment, compliance commitment, and efforts to prevent illicit activity, such as tariff financing through Bitcoi...

Changpeng Zhao, the former CEO and founder of Binance, the world's largest cryptocurrency exchange, was sentenced to four months in prison on Tuesday after admitting to violating US money laundering laws. The sentence, handed down in Seattle, was significantly less than the three years sought by prosecutors.