Here is what happened yesterday in the crypto market:
Tornado Cash Sanctions Lifted by US Government
The U.S. Treasury Department’s sanctions watchdog removed Tornado Cash from its global blacklist following a court ruling. The crypto mixing tool had been accused of assisting North Korea’s Lazarus Group in laundering stolen funds. The delisting marks a significant shift in regulatory action towards the crypto industry.
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South Korea Intensifies Crackdown on Non-Compliant Crypto Exchanges
South Korean financial authorities are planning sanctions against crypto exchanges operating illegally in the country. The Financial Intelligence Unit (FIU) is specifically targeting exchanges like BitMEX and KuCoin for potentially violating regulations.
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Australia Proposes New Crypto Regulation Framework
The Australian Government has announced a comprehensive plan for regulating and integrating digital assets into the broader economy. Inspired by the European Union’s approach, the framework aims to regulate exchanges under existing financial services laws and address issues like debanking.
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Coinbase in Talks to Acquire Derivatives Exchange Deribit
Coinbase is reportedly in advanced discussions to acquire Deribit, a leading cryptocurrency derivatives exchange. This move would significantly expand Coinbase’s offerings into the derivatives market.
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Convicted Fraudster Identified as Crypto Whale
ZachXBT has identified a crypto trader who made millions trading derivatives as William Parker, a convicted fraudster. Parker allegedly made $6.8 million through leveraged trading.
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