Russian bailiffs will have the power to seize CBDC and cryptocurrencies
Moscow will give Russian law enforcement more new powers to seize digital rubles (CBDC) and cryptocurrency assets in bankruptcy cases. The plan was proposed by the Ministry of Justice and the Federal Bailiff Service (FSSP) of the Russian Federation. A spokesperson for the Ministry of Justice stated that law enforcement will be able to exercise "redemption rights" against holders of digital rubles, digital currencies, and digital financial assets.
Netflix director embezzled show budget to buy and sell stocks and cryptocurrencies
Carl Erik Rinsch, director of the Netflix series "Conquest," used $4 million of the show's budget to bet on DOGE and made a profit of $27 million. Netflix spent $55 million on Conquest but did not release a single episode. In March 2020, Netflix bought Rinsch's concept and provided a budget of $44 million. After 16 months, the director requested additional funding, and Netflix agreed to add $11 million after the series was completed.
XREX receives in-principle approval for Singapore’s major payment institution license
XREX, a cryptocurrency exchange specializing in cross-border payments based in Asia, has received principle approval for a major payment institution (MPI) license in Singapore. XREX stated in a statement that the Monetary Authority of Singapore has granted preliminary approval for the company's license, which will eventually allow it to offer digital payment token products and services in Singapore. Once fully obtained, the license will allow the company to expand BitCheck, a payment tool that supports fiat currencies, stablecoins, and other cryptocurrencies.
US Department of Justice: Three arrested for allegedly stealing millions of dollars from banks and converting them into cryptocurrencies
On Thursday, prosecutors arrested three individuals who are suspected of stealing over $10 million from banks and financial institutions, then converting the funds into cryptocurrency and transferring them to overseas cryptocurrency exchanges. According to the US Attorney's Office for the Southern District of New York, Zhong Shi Gao (31), Naifeng Xu (37), and Fei Jiang (41) were arrested and charged with one count each of bank fraud conspiracy, conspiracy to commit wire fraud affecting a financial institution, conspiracy to launder money, and aggravated identity theft. If these charges are combined, they could face up to 82 years in prison. US Attorney Damian Williams stated in a Thursday statement, "These charges should serve as a warning to fraudsters and cybercriminals who think they can hide their identities through cryptocurrency - we will work with our partner agencies to find you and hold you accountable for your crimes." (The Block)
Arthur Hayes: Risk assets like Bitcoin will continue to soar as USD liquidity rises
Arthur Hayes, co-founder of BitMEX, wrote on X platform that since early November, with the decrease in the scale of the Federal Reserve's overnight repurchase agreement (RRP) usage and no change in the balance of the US Treasury Department's general account (TGA), nearly $200 billion in liquidity has been injected into the market. Risk assets such as Bitcoin and other cryptocurrencies will continue to soar.
Russia’s Trade Ministry develops tools to help Russian businesses make cross-border payments through cryptocurrencies
Russian Ministry of Trade has announced that it has developed a tool to help cryptocurrency miners evade Western sanctions. Legislators explain that the Ministry of Industry and Trade has developed a tool for industrial mining activities. Anton Tkachev, the First Deputy Chairman of the State Duma Committee on Information Policy, Information Technology and Communications, said that the tool will help Russian companies make cross-border payments. The lawmaker did not disclose details about the new tool, but said that Russian companies, including miners, may soon seek to increase their use of cryptocurrencies.
Monetary Authority of Singapore official: Hope lessons learned from cryptocurrencies about rush to innovate
Chief FinTech Officer of the Monetary Authority of Singapore stated that Singapore hopes to play a long-term role in the field of artificial intelligence. Lessons on the importance of innovation were learned from cryptocurrencies.
Chairman of the Brazilian Securities and Exchange Commission: Drex, the central bank’s digital currency, will “kill” many cryptocurrencies
João Pedro Nascimento, the chairman of the Brazilian Securities and Exchange Commission (CVM), believes that the Brazilian CBDC Drex will "kill" many cryptocurrencies. Nascimento stated that he is not talking about Bitcoin, but Drex will reduce the attractiveness of smaller cryptocurrencies.
AMF survey: 9% of French adults now invest in crypto assets
AMF's survey of more than 1,000 new retail investors in France shows that 24% of French adults invest in various financial instruments. Among them, a considerable proportion (9%) invests in cryptocurrencies. Although traditional investments continue to dominate investment portfolios, the inclination towards crypto assets, especially among young people, highlights the generational shift in investment preferences and the country's gradual adoption of digital financial solutions. (Bitcoin.com)
'The Simpsons' Halloween special teases NFTs and cryptocurrencies
On Sunday evening that the latest episode of The Simpsons made special references to NFTs and blockchain. In the Halloween special episode of the iconic animated series, "Treehouse of Horror 34", the show repeatedly mentioned the overvaluation of NFTs on the blockchain in the first chapter titled "Wild Barts Can't Be Tokens". In this episode, Marge fights on the blockchain to rescue Bart, who has now become an NFT, and the city mayor announces that the Springfield Art Museum will be digitized. The episode also features many blue-chip NFTs (such as Beeple, Bored Ape Yacht Club) and second-tier PFPs, which are proven to be almost worthless. Noah Bolanowski, a consultant at the IRL NFT gallery Crypt Gallery, analyzed how the show depicted NFTs on the X platform, saying, "I like the emphasis on art in this episode, where PFPs are portrayed as lowly people and art is placed in a noble position." This episode heavily references last year's NFT crash, and this is not the first time that cryptocurrency (or NFTs) has appeared on The Simpsons.