BITCOIN

The European Banking Authority (EBA) has recently launched a new consultation process concerning implementing the so-called travel rule for cryptocurrency transactions. The institution is seeking feedback on the defined procedures that crypto assets service providers (CASPs) must complete to collect the needed information to comply with the travel rule, and the actions they must take when getting this information is not possible. European Banking Authority Holds Consultation on Guidelines for Travel Rule Adoption The European Banking Authority (EBA) has opened a new consultation that seeks to receive feedback on the procedures proposed to apply the travel rule to transfers that use wallets hosted by crypto asset service providers. The rules are focused on “preventing the abuse of funds and certain crypto-assets transfers for money laundering and terrorist financing purposes” and complement another consultation process made by the institution in June that dealt with due diligence

A federal judge has barred former Binance CEO Changpeng Zhao (CZ) from leaving the U.S. until the court has made a decision on the U.S. government’s motion to prevent his return to the United Arab Emirates (UAE) before sentencing. The government filed the motion in response to a release order issued by a magistrate judge, granting the former Binance chief permission to go back to the UAE while awaiting sentencing. CZ Cannot Leave the U.S. for Now A federal judge has issued an order restricting former Binance CEO Changpeng Zhao (CZ) from leaving the U.S. until the court determines whether to approve the government’s motion to force the ex-Binance boss to stay in the U.S. until sentencing. “This matter comes before the Court upon the United States’ motion for review of Magistrate Judge’s ruling on defendant [CZ]’s presentencing travel restrictions,” states the order signed by District Judge Richard A. Jones on Monday. “Having considered the briefing, and the files and pleadings here

In an interesting turn of events, the U.S. Securities and Exchange Commission (SEC) faces challenges in its billion-dollar lawsuit against cryptocurrency figure Richard Heart. A recent court filing reveals that the SEC has yet to successfully serve Heart, complicating the high-profile case. Legal Impasse Delays Billion-Dollar Case Against HEX Creator Richard Heart The SEC’s legal battle with Richard Heart , a well known name in the crypto sphere, took an unexpected twist. According to a court filing, the SEC has encountered difficulties in serving legal documents to Heart. This development raises questions about the progress and future of the lawsuit, which alleges Heart and his entities Hex, Pulsechain, and Pulsex of securities law violations. The lawsuit , filed on July 31, 2023, places Heart at the center of a significant legal dispute over the operation of his crypto entities. The SEC’s complaint accuses him and his companies of engaging in activities that contravene U.S. secu

Sergei Glazyev, minister of integration and macroeconomics of the Eurasian Economic Union (EEU), has noted the advancements the adoption of central bank digital currencies (CBDCs) could ostensibly bring to the trading dynamics of the region. According to Glazyev, the launch of several digital currencies will allow countries to settle trades outside of the U.S. dollar as early as next year, leading to the rise of a new reserve currency. Eurasian Economic Union Hopes to Move to CBDC Settlements The Eurasian Economic Union (EEU) expects that the rise of several central bank digital currencies (CBDCs) will pave the way for the issuance of a new reserve currency different from the U.S. dollar. Sergei Glazyev, minister of integration and macroeconomics of the Eurasian Economic Union, talked about the future benefits these digital, blockchain-based technologies might bring to the trading processes between countries of the EEU and even BRICS countries. In statements given to Sputnik on Tu