Category: crypto

Belgium’s financial regulator, FSMA, has added six unauthorized crypto platforms to its warning list for operating without the necessary authorization under the EU’s Markets in Crypto-Assets MiCA framework. This marks the beginning of stricter enforcement after the July 1 licensing deadline, with consumers advised to verify providers through the official MiCA register.

South Korea is allowing Polymarket to defend its operations before deciding on possible corrective action regarding concerns that the prediction market platform may violate the country’s gambling laws. The review follows an earlier police investigation into South Korean Polymarket users over alleged illegal gambling, with authorities assessing whether the platform’s prediction markets comply with domestic…

Coinbase received criticism for an AI-generated alert falsely predicting a Norway win against Brazil before the match began. The company’s CEO, Brian Armstrong, acknowledged the error and stated that the team was investigating. This incident raises concerns about the use of AI in live-event products and prediction markets.

The CLARITY Act did not become law by July 4 as expected. Senate attention has shifted to Aug. 7, the final session day before the summer break and campaign season. Staff are working to merge different versions of the bill, with challenges including vote math and policy disputes. Law enforcement support has been gained, but…

European regulators have warned that agentic artificial intelligence is evolving faster than existing financial regulations, posing risks to financial markets. Central banks are calling for new safeguards, such as market circuit breakers or kill switches, to prevent disruptions caused by faulty AI models during market stress. Concerns have been raised about the potential for increased…

Nigel Farage faces questions over undisclosed gifts from a crypto entrepreneur while leading Reform UK. Allegations include receiving support from George Cottrell and Christopher Harborne. Farage denies wrongdoing, stating gifts were received before entering Parliament. Ongoing investigations into financial ties and lobbying. Farage remains supportive of crypto despite scrutiny.

Blockaid’s exploit detection system detected an ongoing attack on Summer.fi’s DeFi platform, resulting in a $6 million drain. Summer.fi offers automated vault management tools for DeFi yield strategies. The incident highlights the risks associated with DeFi platforms and the importance of tight security measures in protecting user funds.

South Korea’s Supreme Court has proposed new civil enforcement rules for digital assets that allow cryptocurrencies to be seized, transferred, and sold during debt collection proceedings. The measures will take effect on Oct. 1 after public consultation until Aug. 11. The rules cover procedures for seizure, liquidation, and enforcement against digital assets.

Coinspect has identified a vulnerability called “Ill Bloom” that affects crypto wallets generated with weak recovery phrases across major blockchains since 2018. About $5 million has been moved from exposed wallets, with hardware wallets appearing unaffected. Users are advised to check their addresses and consider moving funds to secure wallets.

South Korean blockchain consortium successfully completed a proof of concept testing a blockchain-based digital local currency processing payments and settlements in under one second with a 100% transaction success rate. The project involved policy controls for digital money, stablecoin issuance, and performance testing, contributing to South Korea’s growing digital asset experiments.