The collapse of the Terra ecosystem earlier this year in May 2022 shook the entire crypto fraternity as it led to a humongous wealth erosion of more than $40 billion in a matter of a week. Ever since South Korean regulators have been on their toes investigating the matter of what led to the collapse.
South Korean banks are being investigated for their role in facilitating $6.5 billion in suspicious overseas remittances which have been tied to companies arbitraging cryptocurrency.
India’s finance minister has cautioned investors about cryptocurrency as the country’s Enforcement Directorate (ED) investigates a number of crypto exchanges and freezes the assets of some trading platforms.
Consumer watchdog group Truth in Advertising (TINA.org) has called out 19 celebrities for allegedly promoting non-fungible tokens (NFTs) without disclosing their connection to the projects.
Monero [XMR], one of the most renowned privacy coins, underwent a successful hard fork on block 2,688,888, this Sunday (14 August).
Up until now, American financial institutions that wanted to conduct both crypto transactions and traditional banking services have had to pick a lane.
That may soon change.