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The recent arrest of Aleksej Besciokov, co-founder of the cryptocurrency exchange Garantex, illustrates a growing resolve among global authorities to clamp down on illicit financial activities linked to cryptocurrencies. This Lithuanian national, apprehended while vacationing in beautiful Varkala, Kerala, is accused of laundering vast sums, possibly reaching billions, through his unlicensed platform. After a raft
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The cryptocurrency market has become a labyrinthine landscape marred by disillusionment. Once revered for its potential to democratize finance and offer opportunities to everyone, cryptocurrencies like Ethereum (ETH) and Dogecoin (DOGE) are currently knee-deep in turmoil. As the excitement around these digital assets wanes, their fates intertwine in a narrative that not only reflects market
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In today’s increasingly digital economy, the debate surrounding stablecoins and Central Bank Digital Currencies (CBDCs) is heating up. A recent hearing led by the US House Committee on Financial Services shone a spotlight on this critical issue, emphasizing the urgent need for a coherent regulatory framework that could guide the incorporation of US dollar-backed stablecoins
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In an era where the integration of cryptocurrency into mainstream finance is almost inevitable, Kraken’s recent acquisition of Electronic Money Institution (EMI) authorization from the UK Financial Conduct Authority (FCA) is a significant step. This move not only demonstrates the company’s resilience against the backdrop of regulatory scrutiny but also aligns perfectly with the growing
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Michael Saylor’s Strategy, a prominent name in business intelligence and cryptocurrency investment, has stirred considerable attention with its announcement to issue up to $21 billion in Series A Perpetual Strike Preferred Stock. This high-stakes maneuver is being portrayed as an opportunity, but it warrants significant scrutiny. While the company projects optimism about utilizing the proceeds
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