FTX files for bankruptcy protection, and its CEO Bankman-Fried steps down

    On Nov. 11, the crypto exchange FTX filed for bankruptcy protection in the US, the Bahamas-based company said. Chapter 11 bankruptcy filing attributed to Alameda Research estimates the company has $10 billion to $50 billion in liabilities. Also, FTX CEO and founder Sam Bankman-Fried resigned from his role. FTX Group, which includes FTX.com and FTX…

    Central Bank of Russia promotes crypto as means to ease the sanctioned economy

    According to a new report on its priorities, the Central Bank of Russia (CBR) is working on integrating crypto assets into the local financial system. The CBR is also working on the digital ruble, a central bank digital currency (CBDC). The CBR released a report on digital assets and crypto regulation, focusing on integrating them…

    Indian Finance Minister says crypto regulation should be a priority topic at G-20 summit

    Indian Finance Minister Nirmala Sitharaman said crypto assets regulation should be an international priority and will be a hot topic at a summit next month, opening India’s yearlong presidency of the Group of 20 nations. The country will host the annual G-20 summit next year and thus help shape the agenda. Speaking at an annual…

    Apple’s new rules for App Store bar using NFTs to unlock in-app features

    Apple has updated its App Store Review Guidelines with more rules for crypto assets, Web3 games, and NFTs. The tech giant’s ban on peer-to-peer NFT trading de facto remains. Apple also reaffirms its longstanding policy preventing links to alternative payment methods. According to the new rules published on Oct. 24, the tech corporation has no…

    OECD publishes final framework to curb international tax evasion using crypto

    The Organisation for Economic Co-operation and Development (OECD) published the long-awaited crypto tax framework on Oct.10. The document is meant to formalize information sharing between the 38 member countries, through automatically sharing crypto-related taxpayer information between jurisdictions. According to a release, the information sharing intends to, “target any digital representation of value that relies on…

    Huobi delists Monero, Zcash and 5 more privacy coins due to regulatory concerns

    Crypto exchange Huobi Global said it will delist seven privacy tokens in the coming week, citing broader regulatory scrutiny of such tokens. The company claimed it is complying with regulations in different countries and regions. Privacy tokens lost 0.42% in 24 hours following the news. Spot and futures trading of the tokens was paused last…