BITCOIN

Financial services companies Paypal and Western Union have each filed three new trademark applications covering a wide range of crypto services. Paypal’s applications are also for the payments giant’s logo. Paypal’s New Trademark Filings for Crypto Services Paypal Inc. has filed three new trademark applications with the United States Patent and Trademark Office (USPTO). Mike Kondoudis, a USPTO-licensed trademark attorney, tweeted Monday: Paypal has filed trademark applications for Paypal and its ‘overlapping Ps’ logo. The apps claim plans for exchanging, trading, and processing transfers of blockchain + digital assets, crypto + digital + virtual currencies … and more. Filed on Oct. 18, the applications’ serial numbers are 97636933, 97636892, and 97636857. An excerpt from one of the trademark applications explains that the trademark covers “downloadable software for sending, receiving, accepting, buying, selling, storing, transmitting, trading and exchanging digital currency, v

Britain’s former Chancellor of the Exchequer Rishi Sunak has become the country’s new prime minister, succeeding Liz Truss who resigned after 44 days in office. The leader of the Conservative Party previously said: “It’s my ambition to make the U.K. a global hub for cryptoasset technology.” Rishi Sunak Takes Office as U.K. Prime Minister Rishi Sunak, who served as Britain’s chancellor of the exchequer from 2020 to 2022 and chief secretary to the Treasury from 2019 to 2022, has become the prime minister of the U.K. He succeeded Liz Truss , who resigned after 44 days in office as prime minister. Sunak formally accepted his new role from King Charles during a meeting at Buckingham Palace on Monday after winning the Conservative Party leadership. Many people have called Sunak pro-crypto for his efforts to make Britain “a global hub for cryptoasset technology and investment,” as announced by the U.K. government in April. He said at the time: It’s my ambition to make the U.K. a globa

Treasury Secretary Janet Yellen has warned that financial stability risks could materialize in the U.S. Noting that “Inflation remains too high, and we are contending with serious global headwinds,” she stressed that the Treasury is “closely monitoring the financial sector, as global developments have led to increased market volatility.” Janet Yellen Warns of Financial Stability Risks in U.S. The Secretary of the Treasury Janet Yellen warned about financial stability risks to the U.S. economy while responding to questions following her speech at the Securities Industry and Financial Markets Association (SIFMA) annual meeting Monday. Citing a “dangerous and volatile environment” for the global economy, including the surge in energy prices and increased volatility in financial markets, Yellen warned that in the United States: Financial stability risks could materialize. “We are closely monitoring the financial sector, as global developments have led to increased market volatility

Yellow Card, an Africa-focused cryptocurrency exchange platform, recently said it has received a virtual asset service provider (VASP) license to operate in Botswana. Granted by the country’s Non-Bank Financial Institutions Regulatory Authority, Yellow Card’s license allows the crypto exchange to bolster its operations on the continent. Working With Regulators The Africa-focused cryptocurrency exchange platform, Yellow Card, recently revealed it had received a virtual asset service provider (VASP) license to operate in Botswana. The licence, which was issued by Non-Bank Financial Institutions Regulatory Authority (NBFIRA), makes Yellow Card the first crypto exchange to be granted permission to operate in the Southern African country. Remarking on his company’s latest milestone, Chris Maurice, the CEO and founder of Yellow Card, spoke of how the license opens the door for more opportunities. He said: This opens up greater channels of expansion with regards to payment partners, ba

The United States Department of Justice recently filed a lawsuit to recover $60 million that was imposed on Larry Harmon, the operator of a bitcoin mixing service targeted by U.S. law enforcement in 2020. According to U.S. authorities, Harmon had operated an unlicensed money-transmitting business. Violation of the Bank Secrecy Act The United States Department of Justice (DOJ) is reportedly suing Larry Harmon, the founder of the crypto mixer Helix, to recover the $60 million fine imposed on him by regulators. According to a Reuters report , the fine, which was imposed in 2020 , stems from Harmon’s alleged violation of the United States federal Bank Secrecy Act. According to the Financial Crimes Enforcement Network (FinCEN), Harmon operated an unlicensed money-transmitting business. The business, according to U.S. regulators, enabled users to send virtual currencies anonymously. In 2021, Harmon reportedly pleaded guilty to a money laundering conspiracy charge and said he would cooper