The long-awaited proposed FinCEN rule, one that would extend AML regulations to non-custodial wallets, has finally been issued, ending much speculation around what the rule would entail and creating significant unrest among the crypto-community. The proposed rule will require Virtual Asset Service Providers (VASPs) such as exchanges and custodians to record the physical name andContinue reading “Why FinCEN’s proposed rule is ‘awful’ for the crypto-ecosystem”

Cardano is in the news today after Founder Charles Hoskinson announced that Cardano has launched an Ethereum Virtual Machine (EVM) developer net. The said development will open the Cardano network up to the Solidity/Ethereum community via a compatible and interoperable platform using their native code. This means that Solidity developers can now write smart contractsContinue reading “Cardano launches Ethereum Virtual Machine DevNet”

Ever since the DeFi craze kicked-off this summer, the ecosystem has only grown in size with more protocols expanding their use cases, and even some interesting mergers aimed to make the space more interoperable. A particularly popular segment of DeFi is its lending protocols that have captured a significant part of the market. However, currentlyContinue reading “Union Protocol raises $3 million to bring accessible credit to DeFi”

Cryptocurrency exchange Bitfinex announced the launch of a new product offering on its P2P lending platform, Bitfinex Borrow, according to a press release shared with AMBCrypto. Bitfinex Borrow will now offer Bitcoin (BTC) and Ethereum (ETH) personal loans, which will enable users to obtain loans in BTC and ETH. Borrowers can use US Dollars (USD),Continue reading “Bitfinex Borrow launches Bitcoin, Ethereum personal loans”

Tornado.Cash announced the launch of a new governance proposal wherein users will gain governance rights through the TORN Token. The Torn token is an ERC-20 compatible token with a fixed supply that governs Tornado.Cash. TORN holders can make proposals and vote to change the protocol via governance. However, the protocol stated that TORN is notContinue reading “Tornado.Cash launches new governance token $TORN”

Global trade finance bank, Euro Exim is working with Ripple to connect banks, payment providers, and digital asset exchanges via RippleNet. Euro Exim is a class A International Banking Financial institution incorporated under the revised laws of St. Lucia, which authorizes it to conduct business with third parties across industries worldwide. The bank has implementedContinue reading “Trade Finance bank Euro Exim to facilitate payments using RippleNet”

DeFi protocol Uniswap recently announced the integration of Sybil, a new governance tool for discovering delegation. Sybil maps on-chain addresses to digital identities in order to maintain a list of delegates without the need for user signups, on-chain transactions, and manual record keeping. Sybil is solely integrated with Twitter, however, and as it stands theContinue reading “Uniswap launches on-chain delegation tied to Twitter usernames”

Crypto Wallet company, MathWallet just closed a $12 million Series B round of funding led by Binance Labs, the venture capital and incubator of Binance. The investment round is expected to strengthen MathWallet’s future innovation in DeFi and the blockchain space. This is also a part of Binance Labs’ ongoing initiative to promote DeFi, toContinue reading “Binance Labs Leads $12 Million Investment Round for MathWallet”

Bitcoin breached its all-time-high earlier today, crossing $22,000 briefly, before dipping back down to levels around $21,800. It has now crossed $22,000 once more and was trading at $22,091 at the time of writing. The level of optimism around the world’s largest cryptocurrency was exceedingly high, as many in the crypto community took to TwitterContinue reading “Bitcoin crosses $22,000 for the second time”

For many, DeFi was the hot property of 2020, thanks to the growth it recorded over the course of the year. In fact, while at the beginning of 2020 the TVL was a “mere” $675 million, the figure had risen to just under $15 billion, at the time of writing. It is, therefore, no surpriseContinue reading “What are the latest DeFi integrations focusing on?”

In what is a much-awaited development, the IOTA Foundation has just announced that the Chrysalis Testnet will go live on the 14th of December. Chrysalis, also known as IOTA 1.5, is the mainnet’s intermediate stage before Coordicide is complete.  The Chrysalis Phase 1 components were deployed to the mainnet back in August, with the engineeringContinue reading “IOTA: Chrysalis public testnet to go live tomorrow”

Only 22% of bankers and financial investigators feel confident detecting crypto-related payments, according to blockchain analytics and cryptocurrency intelligence company – CipherTrace. During a webinar on “How Cryptocurrency Intelligence Tipped the Scales in 2020 Sanctions Evasion,” over 500 attendees from various financial institutions were asked if they felt confident detecting cryptocurrency-related payments flowing through theirContinue reading “How confident are bankers about detecting crypto-related payments?”