transfers
Ethereum to See $1 Trillion in Real Value Transfers This Year, Eclipsing PayPal as Institutional Interest Rises
Ethereum will process more than $1 trillion in real value transfers this year, surpassing PayPal.
Thailand’s Bank of Ayudhya Unveils Blockchain-Based Platform for Cross-Border Funds Transfers
Smart contracts and blockchain play more of a key role in the economic and social growth of modern society. For example, Thailand’s Bank of Ayudhya demonstrates how the use of blockchain technology leverages cross-border funds transfers.
MetaMask Enables Direct Bank Transfers for Crypto Purchases in Nigeria
MetaMask, a major crypto wallet, has partnered with MoonPay to enable direct bank transfers for crypto purchases in Nigeria, allowing users to access crypto faster and cheaper without using credit or debit cards. Nigeria is a major market for MetaMask, despite current issues with crypto on-ramps in the country.
Coinbase Launches Crypto Transactions via WhatsApp, Telegram, and Other Messaging Platforms
Coinbase introduces a new feature in its Wallet app, allowing users to send crypto via WhatsApp, Telegram, and other platforms with no fees and instant settlement.
Ukraine’s Largest Bank Privatbank Suspends Money Transfers to Crypto Exchanges amid Martial Law
Other local banks in Ukraine have also imposed restrictions authorized by the country’s central bank under the current martial law.
Coinbase Requires Regional Users to Provide Recipient Details for Crypto Transfers
Coinbase will require regional users to provide recipients' names and addresses whenever they transfer funds to other firms or exchanges, effective in April.
European Commission Moves to Tighten Rules on Cryptocurrency Transfers
The European Commission has announced that firms transferring Bitcoin and other cryptocurrencies must collect details of payers and payees to help regulators prevent the flow of dirty money.
GDAC Exchange Heist Perpetrator Begins Moving Stolen Funds
The hacker who stole $13 million from GDAC exchange in April has started transferring the stolen funds. Initially, around 60.8 BTC was moved to a specific address, which then transferred 36.7 BTC to three other addresses. Currently, the balance in the initial address stands at 24 BTC. MistTrack continues to monitor the situation, shedding light on the ongoing challenges faced by centralized exchanges in ensuring asset security.
Bybit suspends USD bank transfers amid service outages
Dubai-based crypto exchange Bybit has temporarily suspended USD deposits via bank transfers due to "service outages from a partner." Users can still withdraw funds through wire transfers until March 10, but are encouraged to do so as soon as possible to avoid potential disruptions. Bybit has exposure to the bankrupt crypto lender Genesis Global Trading and claims all client funds are safe and secure.
Ethereum's ACDE 171 Paves Way for Devnet Launches and Private ETH Transfers
The Ethereum developer community discussed various updates in the 171st ACDE meeting held on September 28, 2023. Key topics included the launch of Dencun devnets, EIP-4788 contract bytecode audits, the re-launch of Holesky, a new proposal for private ETH transfers (EIP-7503), and a small amendment to EIP-6780 concerning the SELFDESTRUCT operation. These discussions indicate a proactive approach towards enhancing Ethereum's network ahead of the next ACDE meeting on October 12.
EU Proposes Cap on Anonymous Crypto Transfers
The European Union is proposing a 1,000 euro cap on anonymous crypto transfers to combat money laundering and terrorist financing. The limit would apply to transfers when a customer cannot be identified, and the proposal also caps cash transactions at 7,000 euros. The Anti-Money Laundering and Countering the Financing of Terrorism package is expected to be confirmed in April.
Binance CEO Clarifies Details on CommEx Integration
Binance CEO, CZ, sheds light on Binance's association with CommEX through a tweet. Cryptocurrency transfers are ongoing, with potential ex-Binance team members joining CommEX. Amid regulatory challenges, Binance sells its Russian operations to CommEX but remains optimistic about global prospects.
Ethereum’s Daily Transfers Have Increased from $373 Million to Over $9 Billion in Just a Year
Ethereum has been transacting enormous daily volumes to the tune of more than $9 billion.
Crypto & the FATF: ING Develops Travel Rule Protocol for Tracking Crypto Transfers Ahead of FATF Plenary Meeting
The FATF has a wide range of recommendations, a total of 40 to ensure regulatory alignment between the compliance imposed on financial institutions and the regulations in its member states. The FATF Travel Rule is Recommendation 16, which has received a lot of attention from the crypto industry, especially virtual asset service providers (VASPs).
RippleNet Expands Access to Cross-Border Payments in the Asian Market with Thai FinTech Partnership
Thailand-based fintech company DeeMoney has joined RippleNet to process more efficient money transfers with competitive rates and low fees for all of Asia.
United States’ Third Largest Bank Wells Fargo to Reveal Coin in 2020
USA’s fourth-largest bank has announced it will develop its own cryptocurrency for international transfers in 2020.
ECB Report: Striking the Balance Between Allowing Privacy and Ensuring Compliance with CBDC
The European Central Bank has recently developed an “anonymity voucher” to safeguard potential central bank digital currency (CBDC) users’ privacy for low-value retail transactions, while ensuring that high-value transfers are subject to anti-money laundering (AML) approvals.
Blockchain Transactions Affirm Suspicious Levels of RaaS Interconnectedness
Blockchain transactions confirm the interconnection between four prominent ransomware strains. A good sign for law enforcement to deter illicit money transfers.
Recap on 2019: What Does the World Think of Central Bank Digital Currencies?
The European Central Bank has recently developed an “anonymity voucher” to safeguard potential central bank digital currency (CBDC) users’ privacy for low-value retail transactions, while ensuring that high-value transfers are subject to anti-money laundering (AML) approvals.
Microsoft & EU Based Universities Believe Blockchain Can Achieve Paris Agreement Carbon Goals
With blockchain, industries like the financial services are finding alternative modes of cash transfers, with a gradual switching to cryptocurrencies. The use cases of blockchain technology are steadily transcending digital asset opportunities, as key EU partners now believe the technology could help meet the Paris Agreement Carbon Goals.
Crypto & the FATF Travel Rule: FinCEN Suggests Challenges in Governance, Not Technology
The Financial Action Task Force (FATF) Travel Rule has been in the center of attention lately, which concerns crypto transactions above a certain amount must be accompanied by identifying information.The rule is an update to the existing FATF Recommendation 16, regarding cross-border and domestic wire transfers, and is intended to address the anti-money laundering (AML) and counter-terrorist financing (CFT) challenges as crypto adoption increases. The FATF Travel Rule could mean implications for virtual asset service providers (VASPs), including cryptocurrency exchanges, wallet providers, and custodians.
Justin Sun: Tron Network is Holding 3000 Bitcoin
Tron network, a blockchain-based decentralized operating system, is hosting 3,000 Bitcoin (BTC) configured as BTCTRON, according to its CEO and founder Justin Sun.