BITCOIN

A group of analysts and companies have raised their voices against the risks that the upcoming European Digital Identity Wallet implementation might bring to Europeans’ privacy. Article 45 of a leaked Eidas document (Electronic Identification, Authentication, and Trust Services) indicates that web browsers distributed in Europe will have to accept certificates and cryptographic keys selected by the European Union (EU), opening the doors to online surveillance. European Digital Identity Wallet Project Could Introduce Means for Online Surveillance The technical implementation of the European Digital Identity Wallet has analysts and experts worried, with some warning against the veiled introduction of a system to exert online surveillance over European citizens. Since the announcement of the final agreement on the project, more than 500 scientists and researchers from 39 countries and foundations like Mozilla have called on the European Union (EU) to rework a leaked Eidas (Electronic

The Monetary Authority of Singapore’s managing director has outlined the central bank’s plan to ensure seamless financial transactions across digital asset networks. “Currently, there is a proliferation of digital asset networks,” the head of Singapore’s central bank said. “We cannot wish these dynamics away and force consolidation of all financial transactions onto a single network. It is more feasible to work towards making these diverse networks interoperable.” Singapore’s Central Bank Discusses Digital Asset Plans Ravi Menon, the managing director of Singapore’s central bank, the Monetary Authority of Singapore (MAS), discussed digital assets at Singapore Fintech Festival last week. “Digital assets have two critical features that can fundamentally transform the nature of financial transactions,” he began. The first is tokenization allows financial assets to be exchanged without intermediaries, which “eliminates settlement risk, duplicative reconciliation, and the need for larg

Cryptocurrency exchange Binance is reportedly facing a $4 billion demand from the U.S. Department of Justice (DOJ) in order to settle a criminal case. The Justice Department has been investigating Binance on allegations related to money laundering, bank fraud, and sanctions violations. US DOJ Wants $4 Billion From Binance The U.S. Department of Justice (DOJ) is reportedly seeking more than $4 billion from Binance Holdings Ltd. as part of a proposed settlement to conclude its multiyear investigation into the crypto exchange and its CEO Changpeng Zhao (CZ), Bloomberg reported Monday, citing people familiar with the matter. The Justice Department has been investigating Binance on allegations related to money laundering, bank fraud, and sanctions violations, the news outlet conveyed, adding that negotiations between Binance and the DOJ include CZ potentially facing criminal charges in the U.S. According to the publication, an announcement could come as soon as the end of this month an

Tether has announced the “largest-ever freeze of USDT in history.” In collaboration with crypto exchange Okx, Tether froze $225 million in USDT following an investigation by the U.S. Department of Justice (DOJ). The tokens were allegedly linked to an international human trafficking syndicate in Southeast Asia responsible for a global “pig butchering” crypto scam. $225M in USDT Frozen by Tether Leading stablecoin issuer Tether and crypto exchange Okx announced Monday that they have collaborated with the U.S. Department of Justice (DOJ) “in an investigation that led to Tether proactively and voluntarily freezing approximately 225 million in USDT tokens in external self-custodied wallets.” The wallets are “linked to an international human trafficking syndicate in Southeast Asia responsible for a global ‘pig butchering’ romance scam,” the crypto companies detailed, adding: The joint investigation was conducted using tools from blockchain analysis firm Chainalysis, and the action b