News updates December 26, 2021
1. Turkish President Erdogan Says Cryptocurrency Law Is Ready as Crypto Regulator Fines Binance 8 Million Lira
Turkey’s President Recep Tayyip Erdoğan reportedly announced that the country’s cryptocurrency law “is ready” and will be submitted to parliament “without delay.” Meanwhile, Turkey’s Financial Crimes Investigation Board (MASAK), which oversees crypto exchanges, has reportedly fined Binance Turkey over violations found during liability inspections.
2. Pro-Bitcoin Senator to Introduce Comprehensive Crypto Bill in US – Regulation Bitcoin News
The pro-bitcoin U.S. Senator Cynthia Lummis has reportedly unveiled her plan to introduce a comprehensive crypto bill that will cover everything from how cryptocurrencies are taxed and categorized to consumer protections. The bill will also propose creating a new entity to oversee the digital asset market.
3. Indian police commissioner issues a public warning against crypto frauds
On behalf of the Hyderabad City Police, Addl. Commissioner Shikha Goel asked Indian citizens to invest in crypto only through reputed and long-established players in this field.
Goel highlighted the various methods that are actively being used by fraudsters to dupe investors such as lucrative investment opportunities, illegitimate bank transfers and cryptocurrencies. Acknowledging the growth of Indian crypto users, Goel added:
They [fraudsters] ask you to share your cryptocurrency details. And once you put it in your wallet, then the money is taken away.
4. Bitcoin battles bears 'on offense' as Christmas delivers a $50K BTC gift
It's not all doom and gloom for Bitcoin bulls this year — gains are still 100% versus last Christmas.
Bitcoin (BTC) held $50,000 into Dec. 25 as BTC bulls avoided an unwelcome Christmas Day surprise.
5. Turkey slaps Binance with $750,000 fine as country’s crypto law readies for parliament
Turkish regulators have fined local cryptocurrency exchange Binance after allegedly showing non-compliance with digital currency laws related to customer information.
The exchange that operates under BN Teknoloji was fined 8 million Turkish lira ($750,000) by Turkey’s Financial Crimes Investigation Board (MASAK), which is the agency’s first punitive measure since it began overseeing the crypto sector, Reuters reports.
The exchange allegedly violated various regulations that emerged during the liability inspections. Notably, Binance is accused of failing to provide customer information related to money laundering in line with new laws enacted earlier in the year.
6. In Forbes’ list of the world’s richest people, the Russian who invented Ethereum has been listed
In Forbes’ list of the world’s richest people, the Russian who invented Ethereum has been listed
1.3 billion dollars were estimated to be the fortune of a Russian-Canadian entrepreneur.
In accordance with coinmarketcap data, Ethereum’s price is currently around $ 4,036 and its market capitalization is around $ 488 billion.
Co-founder of the Ethereum project Vitalik Buterin was included in the list of the most visible new billionaires in 2021 according to Forbes magazine. The fortune of an entrepreneur of Canadian-Russian origin was estimated at $ 1.3 billion.
