Nigerians Slash Stablecoin Use by $14bn Amid Crypto Crackdown
Nigeria’s use of stablecoins dropped sharply by 38%, falling to $23.6 billion in the year ending July, according to blockchain intelligence firm Chainalysis. This is a significant reduction, considering Nigeria’s ailing economy and devalued naira. Despite widespread use of cryptocurrencies to protect wealth, Nigerians have reduced their reliance on stablecoins
Taiwan Enforces Stricter AML Regulations for Crypto Industry
Taiwan’s Financial Supervisory Commission (FSC) has announced new Anti-Money Laundering (AML) regulations for virtual asset service providers (VASPs), which will come into full effect in 2025. This move aims to strengthen the country’s oversight of the crypto sector and align it with global standards. Key Features of the New Regulations
Vitalik Buterin Supports Lowering Ethereum Solo Staking Requirements
On October 3, Vitalik Buterin joined a community discussion on X, advocating for a reduction in the minimum Ether (ETH) deposit required for solo staking. The current requirement to lock up 32 ETH is seen as a barrier to entry, preventing many crypto investors from participating. Solo stakers run full
Malaysia Strengthens AI and Cloud Computing with New Regulations and Partnerships
Malaysia is positioning itself as a leader in artificial intelligence (AI) and cloud computing with the introduction of new regulations and partnerships. In an effort to promote ethical AI and enhance digital infrastructure, Malaysian Prime Minister Anwar Ibrahim announced the launch of a national AI office, according to an Oct.
September 2024 Crypto Hacks Surpass $120 Million: Centralized Exchanges Targeted
September 2024 saw cumulative cryptocurrency hack losses exceeding $120 million, marking the second-lowest monthly total for the year, following April. Despite the decrease, centralized exchanges remained prime targets, with BingX and Indodax accounting for over half of the month’s total losses. Centralized Exchanges Under Attack According to blockchain security firm
Ripple Secures In-Principle License Approval in Dubai, Moves Closer to Offering Crypto Payment Services
Ripple, a leading crypto payments infrastructure provider, has received in-principle approval for a financial services license from the Dubai Financial Services Authority (DFSA), taking a significant step towards establishing its presence in the United Arab Emirates (UAE). This marks an important milestone as Ripple aims to roll out its cross-border
