US Treasury Clarifies How To Comply With Sanctioned Crypto Mixing Service Tornado Cash – Regulation Bitcoin News

The US Treasury has answered some regulatory compliance questions regarding Tornado Cash, the recently sanctioned crypto mixer. Answers include how to withdraw cryptocurrencies or complete transactions initiated using Tornado Cash prior to its sanction, and how to deal with “dusting” transactions. The Ministry of Finance publishes the most frequently asked questions about Tornado Cash The US Treasury Department has answered some frequently asked questions questions Tuesday about the sanctioned cryptocurrency mixing service Tornado Cash. August 8, Office of Foreign Assets Control (OFAC) sanctioned Ethereum-based mixer and prohibited US persons from “engaging in any transaction with Tornado Cash or its blocked

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The Ethereum Merge Is Done, Opening a New Era for the Second-Biggest Blockchain

The historic upgrade casts aside the miners who had previously driven the blockchain, with promises of massive environmental benefits.   The massive overhaul of Ethereum known as the Merge has finally happened, moving the digital machinery at the core of the second-largest cryptocurrency to a vastly more energy-efficient system after years of development and delay. It was no small feat swapping out one way of running a blockchain, known as proof-of-work, for another, called proof-of-stake. “The metaphor that I use is this idea of switching out an engine from a running car,” said Justin Drake, a researcher at the non-profit Ethereum Foundation who spoke to CoinDesk

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Egypt’s central bank issued a crypto warning – violators risk prison terms – regulation Bitcoin News

The Central Bank of Egypt (CBE) has issued a new warning about cryptocurrencies, noting that violators could face prison terms. The law of the Egyptian central bank “prohibits the issuance, trading or promotion of cryptocurrencies, the creation or operation of platforms for trading them or performing related activities.” Crypto warning issued by the Central Bank of Egypt The Central Bank of Egypt (CBE) has renewed its warning on all types of cryptocurrencies, citing a number of risks, including high volatility, use by financial criminals and e-piracy, the Egypt Independent reported on Tuesday. The ECB also stressed that cryptocurrencies are not

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Bitcoin Struggles After Inflation Report; California’s crypto bill is an overreach, legal experts say

Ether, the second largest cryptocurrency by market value, followed a similar pattern and changed hands below $1,600, down roughly 6% from the day before as inflation worries outweighed the excitement of Merge. The merger, the transition of the Ethereum blockchain from the slower, more energy-intensive proof-of-work protocol to proof-of-stake, is set to happen on Thursday, although recent ETH activity, even before the disappointing CPI, suggested that most there have already been significant price increases. Source link

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Financial giant State Street sees unabated demand for cryptocurrencies from institutional investors – Finance Bitcoin News

Investment management firm State Street says it is not deterring institutional clients from investing in crypto assets despite falling prices. “There is a belief that the asset class is here to stay,” said the State Street executive. State Street on institutional demand for crypto State Street, a leading investment management firm, is seeing steady institutional demand for cryptocurrencies despite a market selloff, the Sydney Morning Herald reported on Monday. Irfan Ahmad, State Street Digital’s head of product for the Asia-Pacific region, said the banking giant’s institutional clients are still enthusiastic about cryptocurrency and the technology behind it. He was quoted

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Bitcoin is holding steady above $21k; DeFi Platform Forward’s $5 million funding round highlights cryptocurrency growth in Thailand, but regulation lags behind

And while noting bitcoin’s encouraging recovery from $18,500 earlier this week, Joe DiPasquale, CEO of crypto asset BitBull Capital also said that such revivals were not uncommon for cryptocurrencies during market downturns. “While bulls will welcome this bounce, it’s important to note that continued bearish price action has occasional relief, especially when short holders take profits,” he said. Source link

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Devere CEO Explains Why He’s Buying Bitcoin Dip – Markets and Prices Bitcoin News

The CEO of the Devere Group, a financial advisory and asset management firm, shared several reasons why he is buying the bitcoin dip. “Despite the recent turbulence, I believe the trajectory for Bitcoin and other major cryptocurrencies is up,” he said. Nigel Green explains why he buys more bitcoins The CEO of financial advisory and asset management firm Devere Group, Nigel Green, has confirmed that he is buying the bitcoin dip. In a blog post published this week, the CEO outlined various reasons why he is buying more bitcoin amid the crypto market selloff. “The continued strength of the US

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Elon Musk’s $258B Dogecoin Lawsuit Grows as New Defendants Join DOGE Investors – Featured Bitcoin News

The $258 billion lawsuit filed against Elon Musk, Tesla and Spacex over their promotion of Dogecoin has been expanded to include new defendants and DOGE investors. The plaintiffs allege that the dogecoin cryptocurrency meme is a Ponzi scheme, noting that Musk and his companies “falsely and deceptively claim that dogecoin is a legitimate investment when it has no value at all.” New Defendants and Plaintiffs in Dogecoin Lawsuit Against Elon Musk Amended Complaint of The $258 billion lawsuit against Elon Musk, Tesla and Spacex was filed Tuesday in federal court in Manhattan. Seven new investor plaintiffs and six new defendants,

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