Cryptocurrency

Binance Resumes Operations in India After Compliance Issue

Friday. August 16 at 1:00 AM

1 min. read

After a seven-month ban in India due to noncompliance with local regulations, crypto exchange Binance has relaunched its website and apps on Google Play Store and Apple App Store. Binance confirmed registration with India’s Financial Intelligence Unit (FIU-IND) to combat money laundering, a legal requirement for crypto exchanges in India. The FIU-IND had previously blocked Binance and eight other exchanges for noncompliance. Binance reportedly intended to pay a $2.25 million fine imposed by the FIU. CEO Richard Teng highlighted India's importance in the global crypto market. Binance also obtained a crypto license in Dubai. The company aims to implement Anti-Money Laundering and Combating the Financing of Terrorism policies in India. Meanwhile, concerns arise over AI's energy consumption surpassing Bitcoin, impacting the mining industry.

More news 🗞️

UK Government Considers Ban on Ransomware Payments

Wednesday. January 15 at 2:00 PM

The UK government is contemplating a ban on ransomware payments to safeguard critical national infrastructure. The Home Office proposed a targeted ban on ransom payments for public sector bodies and essential services like energy and healthcare. This initiative aims to deter cybercriminals who often demand cryptocurrency payments. Australia and the US have also explored similar bans in response to cyberattacks. Security Minister Dan Jarvis emphasized the importance of cutting off financial resources for criminal networks. The proposals include a ransomware payment prevention regime and mandatory reporting of incidents to enhance law enforcement efforts. The consultation will continue until April 8, with a focus on protecting essential services from cyber threats. The National Cyber Security Centre reported a significant increase in ransomware attacks, highlighting the urgent need for preventive measures.

Cryptocurrency

Growing Threat of North Korean Cryptocurrency Hackers

Wednesday. January 15 at 8:00 AM

The United States, Japan, and South Korea have jointly issued a warning about the increasing danger posed by cryptocurrency hackers linked to North Korea. Suspected groups like the Lazarus Group are believed to be behind major cyber thefts in the Web3 realm, including the $600 million Ronin network hack and the $230 million WazirX exchange hack. These hackers now pose a serious risk to the global financial system's integrity and stability, aiming to fund North Korea's missile programs through cryptocurrency theft. The three nations emphasize the need for collaboration between public and private sectors to combat these cybercrimes effectively. Recent sanctions by South Korea against North Koreans involved in cryptocurrency heists highlight the growing threat. North Korean hackers have been responsible for significant crypto hacks, stealing over $1.34 billion in digital assets in 2024 alone. The rise in sophisticated attacks indicates an improvement in their methods, with more lucrative exploits becoming common.

Cryptocurrency

Semler Scientific Increases Bitcoin Holdings

Tuesday. January 14 at 10:00 PM

Semler Scientific has acquired an additional 237 Bitcoin for around $23 million, bringing their total holdings to 2,321 BTC valued at nearly $192 million. The company purchased the BTC at an average cost of less than $83,000 using funds from stock sales and cash flow. By issuing over $120 million in stock, Semler has boosted its 'Bitcoin yield' from 72.6% to 99.3%. This metric measures the ratio of BTC holdings to outstanding shares, reflecting the company's performance. CEO Doug Murphy-Chutorian emphasized Semler's focus on acquiring and holding Bitcoin to drive growth. The concept of 'Bitcoin yield' was popularized by MicroStrategy, whose stock has surged by 2,000% since investing in BTC. Other companies like Hoth Therapeutics and Genius Group have also followed suit. With corporate treasuries collectively holding over $54 billion in BTC, Semler ranks 13th among public companies. Investment managers are increasingly turning to Bitcoin as a hedge against inflation and fiscal uncertainty in the US.

Cryptocurrency

Revolutionizing the Web3 Crypto Space

Tuesday. January 14 at 7:00 PM

The Cardano blockchain is currently experiencing challenges as significant holders sell off, resulting in a 20% decline in ADA's value. This raises concerns about its ability to recover stability. On the other hand, Chainlink's outlook for 2025 appears uncertain, struggling to maintain crucial support levels with conflicting expert opinions on its future trajectory. In contrast, Web3Bay (3BAY) is establishing its presence in the Web3 crypto realm. With a presale price of just $0.0039675 in stage 3, Web3Bay has raised over $630,000, indicating a potential 6430% ROI upon launch. Positioned as a key player for e-commerce enthusiasts and crypto traders, Web3Bay is seizing opportunities in a shifting market landscape. Cardano faces pressure from large ADA sales, while Chainlink's future remains ambiguous. In contrast, Web3Bay's structured presale offers growth potential and strategic advantages for early backers, reshaping the decentralized e-commerce landscape.

Cryptocurrency