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Hong Kong Security Chief Vows to Hunt Down JPEX Crypto Scam Ringleaders
Hong Kong authorities are intensifying efforts to apprehend the key operators behind JPEX, a cryptocurrency platform implicated in the city's largest alleged financial fraud. The police have arrested 15 individuals and seized assets worth HK$85 million ($10.8 million). Financial Secretary Paul Chan Mo-po emphasized the need for a proper regulatory framework for Web3-related businesses.
Indian Banks Seeking Clarity from NPCI on the Use of UPI for Crypto Transactions
NPCI’s formal directive on the use of UPI payment method for crypto transactions is unlikely to come soon.
Citi to Hire 100 Staff Members for Digit Assets Expansion Drive
Citi Group is looking to fill 100 jobs in its digital assets team. The news comes after the bank recently launched a digital assets group as part of its effort to respond to its customer demands for crypto products.
The Reserve Bank of India is Expanding CBDC While Dismissing Privately Issued Stablecoins
The Reserve Bank of India (RBI) is planning to increase the number of Central Bank Digital Currency (CBDC) transactions to one million per day by the end of 2023, according to Deputy Governor T Rabi Sankar.
Senate Rejects Second Stimulus, Markets Plunge and Bitcoin Price Predicted to Crash to $8,000 in September
Our analysis predicts that the Bitcoin price could crash down to $8,000 following the rejection of the United States' second stimulus by Senate Democrats.