South Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial Product
In a move seen as a major setback for South Africa, the international financial watchdog, the Financial Action Task Force, announced on Feb. 24 that it had added the country to its “grey list.” Getting grey-listed by the financial watchdog potentially makes it difficult for South Africa to obtain loans from foreign banks.
Bitcoin, Ether Gain, Shrug off Fall in U.S. Equity Markets; Solana Bounces Back
Bitcoin and Ether rose on Monday morning in Asia along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization, though most are still trading lower from prices a week ago. Solana led the gainers, bouncing back from a network glitch. The gains in crypto came despite the declines in equities on Wall Street on Friday following the release of data showing inflation remains stubbornly high. The total crypto market capitalization edged 1.9% higher to US$1.08 trillion, while the total trading volume fell by 8.2% over the past 24 hours to US$34.35 billion. (forkast)
7 Interesting Crypto Projects Recently Raised Funding
With capital becoming increasingly expensive, VCs and investors now have to think twice before funding something. I like it this way because they will be encouraged to find a project really worthy of their money.
Crypto Retrenchment Persists With Over 2,000 Jobs Lost in 2023
The digital-assets industry has shed more than 2,000 jobs in the first two months of 2023, as companies continued to retrench even as crypto prices staged a partial recovery.
Over 200 Jurisdictions Agree on Timely Implementation of FATF Crypto Standards
The Financial Action Task Force (FATF), an intergovernmental organization established to combat money laundering and the financing of terrorism, announced Friday the outcome of its plenary which took place on Feb. 22-24. “Delegates from over 200 jurisdictions of the Global Network participated” in a number of discussions at its headquarters in Paris, the FATF said.
Global Crypto Rules to Be Based on Coming FSB & IMF Synthesis Paper, India Announces After G20 Meetings
The basis of coming global crypto rules will be formed on a new synthesis paper, jointly produced by the International Monetary Fund (IMF) and the Financial Stability Board (FSB), announced India as the holder of the Group of 20 (G20) Presidency in Bangalore on Saturday.
Crypto Terms Are ‘In a Lot of Ways Poisoned’ Says Artist Tom Sachs
When it comes to the world of crypto, renowned artist Tom Sachs doesn’t care for the over-arching label that is Web3, including certain terms like crypto or NFT.
U.S. Treasury Janet Yellen Calls for ‘Strong Regulatory Framework’ for Crypto Activities
United States Treasury Secretary Janet Yellen stressed the importance of implementing a strong regulatory framework for cryptocurrencies during a G20 meeting on Feb. 25.
Crypto Industry Lost Over $650B After Two Major Scandals in 2022: BIS
Last year, the crypto space saw a lot of horrible incidents that forced several firms into bankruptcy, with over $1.8 billion wiped from the market in the aftermath.
60% Military Equipment Purchased for the War Was Funded Using Crypto, Says Ukraine Minister
Companies manufacturing goods like bulletproof vests, helmets, and different kinds of optics, even they were able to receive crypto,
