CRYPTO

Authored by Martin Young via CoinTelegraph.com,

Local governments in China are reportedly seeking ways to offload seized crypto while facing challenges due to the country’s ban on crypto trading and exchanges.

The absence of clear rules on how authorities should manage seized cryptocurrency has led to “inconsistent and opaque approaches,” which some lawyers fear could open the door to corruption, according to an April 16 report by Reuters.

Chinese local (more…)

Authored by Aaron Wood via CoinTelegraph.com,

The crypto industry’s inability to access banking services still concerns many industry observers despite recent policy victories.

In past years, financial services firms and banks concerned about fiduciary risk, reporting liabilities and reputational risk often would refuse to offer service to crypto firms — i.e., “debanking” them. 

Legislative efforts in the United States and Australia are attempting to remove these barriers for the crypto industry. In the former, legislators repealed guidelines that made it difficult for banks to custody crypto assets, as well as those stating that crypto carried “reputational risk” for banks. In the latter, the Labor Party has introduced a bill to create a legal framework for crypto, giving banks the clarity they need to interact with the crypto industry.

Despite these tangible efforts, some crypto industry observers say that the crypto’s debanking problem is far from over.

US crypto execs say debanking is still an issue 

The crypto industry has long decried “Operation Chokepoint 2.0,” its nickname for a suite of policies that they claim constrained the crypto industry from growing under the administration of former President Joe Biden. Among these were (more…)

Authored by Adrian Zmudzinski via CoinTelegraph.com,

Ethereum co-founder Vitalik Buterin said privacy should be a top priority for developers, warning that assumptions about transparency and good intentions in global politics are overly optimistic.

In an April 14 blog post, Buterin argued that privacy is essential to maintain individual freedom and protect against the growing power of governments and corporations. He criticized the idea that increased transparency is (more…)