Check out CNETs full story on Bidens crypto order$ 28 million in crypto seized as ransomware suspect extradited from Canada to United States
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The suspect presumably utilized a type of Windows-specific ransomware called Netwalker that locks files on a computer and triggers the user to pay a ransom in cryptocurrency to gain back gain access to. According to the Justice Department, the suspect was extradited to the United States on Wednesday to face charges.Read CNETs complete story on the ransomware bustCrypto ATMs are now illegal in the UK.
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On Friday, the Financial Conduct Authority, a UK monetary regulator, said crypto ATMs that use exchange services in the UK should sign up and comply with UK Money Laundering Regulations. None of the crypto ATMs open in the UK have actually done this, according to the Financial Conduct Authority. Now the FCA is contacting owners of crypto ATMs in the UK and informing them to close down or face further action. Just recently, crypto advertisements in the UK have actually also come under examination due to deceptive claims. Check out CNETs full story on UK regulators closing down crypto ATMsUS Labor Department warns versus crypto in retirement accounts.
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The department mentioned a number of reasons why this could be a bad concept, consisting of volatility, lack of informed decision-making, evolving regulations and concerns over valuation and record-keeping. Thanks for reading. Well be back with plenty more next week.
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Stay tuned for more next week.President Biden signs crypto order
On Friday, the Financial Conduct Authority, a UK monetary regulator, said crypto ATMs that provide exchange services in the UK must sign up and comply with UK Money Laundering Regulations. None of the crypto ATMs open in the UK have actually done this, according to the Financial Conduct Authority. Now the FCA is calling owners of crypto ATMs in the UK and telling them to shut down or face additional action. Read CNETs complete story on UK regulators shutting down crypto ATMsUS Labor Department alerts versus crypto in retirement accounts.
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Welcome to Nonfungible Tidbits, a weekly roundup of news in crypto, NFTs and their associated realms.Our lead story this week is the brand-new crypto-focused executive order from the White House, which describes opportunities and issues in the cryptocurrency industry. Well also cover the seizure of $28 million in taken cryptocurrency, UK authorities disallowing crypto ATMs and the US Labor Department cautioning versus consisting of digital possessions in retirement plans. Stay tuned for more next week.President Biden signs crypto order
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On Wednesday, Biden signed the very first executive order focused on cryptocurrency. The order directs federal firms to come up with concepts for policies to attend to the risks and benefits of digital assets. The order likewise directs the federal government to check out possibly developing an US reserve bank digital currency, a kind of cryptocurrency controlled by the federal government. While Bidens executive order is a beginning point that lays the foundation for future guideline, its the very first indicator of a centralized federal government effort to identify how cryptocurrency may be dealt with down the road.