Learn more on Vedomosti.
On November 23, Russian media outlets reports that the Russian Economic Policy Committee had actually started looking into producing a nationwide cryptocurrency exchange platform to monitor all cryptocurrency trade and transactions in the nation. This back-peddling likely is available in response to the financial troubles that the country has actually dealt with due to the global sanctions that have actually been placed against the nation in protest against their ongoing invasion of Ukraine. Legislators are now stating that they need to not reject the truth of cryptocurrencies, but rather deal with a way to take advantage of the billions of rubes in taxes that they are losing out on by not successfully allowing and managing cryptocurrency in the nation.
JP Morgan to Release Own Cryptocurrency Wallet.
On November 24, it was announced that the Russo brothers, who directed The Avengers motion picture series, will be producing an 8-part miniseries based on the fall of FTX. This announcement comes after the cryptocurrency community was shaken by the bankruptcy of the multi-billion-dollar cryptocurrency exchange platform whose creators are currently being charged with fraud.
Find out more on CryptoPotato.
El Salvador Establishes Bitcoin Office to Focus on Crypto Projects.
On November 22, Starling Bank tweeted, “We constantly examine our position in relation to monetary crime. We think about crypto activity to be high-risk. Weve taken the decision to prevent all card payments to crypto merchants and to implement further constraints on inbound and outbound transfers.” This was specified in action to a question regarding a users in-app notification stating that the UK-based bank would no longer be supporting cryptocurrency deals. Other customers fasted to challenge this, explaining that there are many other high-risk activities that are allowed, such as gambling and drinking. This left some feeling that rather than this being an action towards safeguarding their clients, this was actually simply an attempt by the bank to protect central finance. Whether they will continue with this policy or withdraw it in action to unfavorable feedback stays to be seen.
Find out more on BitcoinChaser.
UK Bank Bans Crypto Trading and Purchases.
On November 23, Bo Shen, a partner from Fenbushi Capital revealed that a hacker had drained pipes $42 million USD worth of crypto from his Ethereum wallet on November 10. $38 million USD of this quantity remained in USDC, while the rest consisted of USDT, UUNI, LQTY and REP. The taken funds were then transferred into two different wallets. Beosin, a blockchain security firm tasked as part of the investigation group believes that the exploit occurred likely due to a compromised personal secret.
Learn more on Twitter.
On November 22, New York Governor Kathy Hochul signed a questionable moratorium that prohibited the issuance of new Environmental Conservation Law allows to “proof-of-work cryptocurrency mining operations that are run through electrical creating facilities that utilize carbon-based fuel.” This law will affect lots of popular cryptocurrency mining operations such as those that mine Bitcoin (BTC,) Litecoin (LTC,) Monero (XMR), and Dogecoin (DOGE with carbon-based electrical energy. This Act will be in result for the next 2 years and will not impact the issuance of licenses for mining operations that make use of electrical power from alternative energy sources such as solar power.
Last week saw New York banning crypto mining, El Salvador establishing a dedicated cryptocurrency workplace, and other crypto news products..
Amazon to Produce FTX Miniseries.
Find out more on LinkedIn.
Problem for NY-Based Bitcoin Mining Operations.
Find out more on Decrypto.
Learn more on The Block.
Russia Looks into Creating National Crypto Exchange.
On November 25, Torres Legal El Salvador released a declaration on LinkedIn exposing that El Salvadors government has actually produced a National Bitcoin Office (ONBTC.) This office is devoted to handling all tasks associated with any cryptocurrency-related task. This workplace was developed through Decree No. 49, published in the Official Gazette of November 17, signed by the President of the Republic, and the Minister of Tourism as in charge of the office of the Minister of Economy. It comes as the newest in a series of pro-cryptocurrency relocations that have actually been released because El Salvadors Bitcoin (BTC) maximalist president, Nayib Bukele, entered power in June 2019. Other jobs include embracing BTC as the countrys legal tender in September 2021 and the planned advancement of a Bitcoin City.
On November 21, it was revealed by U.S. Patent and Trademark Attorney Michael Kondoudis that the US Patent and Trademark Office (USPTO) had actually approved JP Morgan & & Chase Co.s patent application for a cryptocurrency wallet early this month. JP Morgan is the largest bank in the United States and has actually been expanding its participation with cryptocurrency because late October 2020 when it introduced its own steady coin, called the JPM Coin, which was connected to its own blockchain platform Onyx. This was also the very first application of a bank-led blockchain platform.
Fenbushi Capital Partner Hacked for $42 Million USD of Crypto.
2 Estonians Arrested for $575 Million USD Crypto Fraud and Money Laundering.
On November 21, the US Justice reported that 2 Estonian people had actually been jailed in Tallin, Estonia on 18 charges for their believed participation in a cryptocurrency scams money laundering conspiracy that defrauded numerous countless victims to the cumulative value of over $575 million USD. Sergei Potapenko and Ivan Turõgin are charged with scamming their victims into signing and leasing fraudulent cryptocurrency mining equipment from them.
This law will affect numerous popular cryptocurrency mining operations such as those that my own Bitcoin (BTC,) Litecoin (LTC,) Monero (XMR), and Dogecoin (DOGE with carbon-based electrical power. JP Morgan is the largest bank in the United States and has been broadening its involvement with cryptocurrency because late October 2020 when it introduced its own steady coin, called the JPM Coin, which was connected to its own blockchain platform Onyx.
Read more on the Jerusalem Post.
This announcement comes after the cryptocurrency neighborhood was shaken by the insolvency of the multi-billion-dollar cryptocurrency exchange platform whose founders are currently being charged with scams. On November 23, Russian media outlets reports that the Russian Economic Policy Committee had started looking into developing a nationwide cryptocurrency exchange platform to keep an eye on all cryptocurrency trade and deals in the nation. Legislators are now saying that they need to not deny the truth of cryptocurrencies, but rather work on a way to capitalize on the billions of rubes in taxes that they are losing out on by not efficiently permitting and regulating cryptocurrency in the nation.
