Enforcement agencies have intensified actions against illicit cryptocurrency activities, with the EU sanctioning the Russian exchange Garantex and the U.S. targeting Nemesis operator Behrouz Parsarad. Despite these efforts, darknet marketplace revenues rose to $1.7 billion in 2024, highlighting ongoing challenges in combating such ecosystems.
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Reasons Behind Today’s Crypto Market Crash and Investor Strategies
The crypto market is facing a significant downturn due to massive sell-offs by large holders, macroeconomic pressures, and regulatory uncertainty. Traders are experiencing liquidations from leveraged positions, while profit-taking after recent gains adds to the volatility. Investors are advised to avoid panic selling and monitor key support levels for potential stabilization.
read moreImpact of Trade Barriers on Sweden’s Economy and Inflation Risks
In a recent speech, Anna Breman highlighted the potential impact of escalating trade barriers on the Swedish economy, particularly in the export-dependent mining sector. While extensive tariffs from the U.S. could dampen growth, the effect on inflation remains uncertain, as higher tariffs typically lead to increased inflation, but weaker economic performance may reduce demand and lower inflation.
read moreSwiss Military Crisis Over F-35 Fighter Jet Procurement and Political Fallout
Switzerland’s procurement of the F-35 fighter jet is mired in controversy, with recent resignations and scandals raising concerns over accountability and strategic dependence on the US. Critics argue that the deal undermines Swiss neutrality and could lead to exorbitant long-term costs, while the military faces scrutiny over its decision-making processes. The situation highlights a broader crisis within the military department, as public trust erodes amid allegations of mismanagement and political maneuvering.
read moreNorway Investigates Cryptocurrency Fraud and Privacy Coin Usage in Ransom Case
Norway’s National CyberCrime Center is investigating the use of privacy-focused cryptocurrencies Monero and Dash in a ransom case linked to missing person Anne-Elisabeth Hagen. Meanwhile, Økokrim has charged four men with orchestrating an $87 million investment fraud involving fake cryptocurrency schemes, highlighting the growing issue of crypto-related scams in Norway and beyond. The defendants, including individuals with prior fraud convictions, face prosecution as authorities intensify efforts against organized crime in the cryptocurrency space.
read moreEuropean defence stocks rise amid calls for increased military spending
European defence stocks surged as leaders convened for an emergency summit on the Ukraine war, with calls for increased military spending across the region. British Prime Minister Keir Starmer emphasized the need for higher defence budgets, while EU officials proposed easing spending limits to facilitate this. The total defence expenditure among EU member states is projected to rise over 30% to €326 billion in 2024, aligning with NATO commitments, despite some countries still falling short.
read moreNavigating Crypto Fraud Prevention and Regulatory Challenges in 2024
As crypto adoption surges, so does the risk of digital fraud, with a 48% increase reported. Companies must enhance their verification processes beyond initial onboarding, integrating continuous monitoring and advanced analytics to combat identity fraud effectively. Regulatory clarity remains a challenge in the US, with only 29% of global firms fully compliant with existing standards.
read moreCrypto.com to Remove Tether for EU Users by January 31 2025
Crypto.com will cease support for Tether’s USDT for European users by January 31, 2025, in compliance with the EU’s Markets in Crypto-Assets (MiCA) regulations. The exchange, which recently obtained a MiCA license in Malta, will also delist other non-compliant assets, including Dai and Wrapped Bitcoin. Users have until March 31 to convert these assets, after which they will be automatically switched to a compliant stablecoin or similar asset.
read moreOKX Advances Towards Full MiCA License Approval in Malta
OKX has received pre-authorization for a MiCA license from the Malta Financial Services Authority, marking a significant step toward full licensing under the EU’s Markets in Crypto-Assets regulation. Once fully licensed, the exchange plans to expand its services across the EU, listing over 240 cryptocurrencies and supporting at least 260 trading pairs in euros. Malta was chosen for its supportive regulatory environment, positioning OKX to offer additional services like crypto staking to EU residents.
read moreSwitzerland to Implement T Plus 1 Settlement Standard by October 2027
Switzerland will transition to T+1 settlement for share and securities trading in October 2027, aligning with the USA and India. This shift, confirmed by the Swiss Securities Post-Trade Council and the State Secretariat for International Financial Matters, aims to reduce risks and modernize industry infrastructure. The EU and UK are expected to adopt the same timeline, promoting a synchronized market environment.
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