ChainCatcher news, according to Cointelegraph, Indian Deputy Finance Minister Pankaj Chaudhary disclosed in a parliamentary inquiry response that the government has identified 17 cryptocurrency exchanges involved in goods and services tax (GST) evasion cases, totaling $970 million. Among them, Binance is being pursued for $850 million, WazirX for $4.8 million, CoinDCX for $1.9 million, and CoinSwitch Kuber for $1.7 million.As of now, WazirX has paid $5.8 million, which is 20% more than the original amount due, including penalties and interest. However, some exchanges, such as Binance and Hyperux Technologies, have yet to pay their taxes.In response, a Binance spokesperson stated that the company is actively cooperating with regulatory investigations and will properly address the related tax issues. WazirX claimed that the tax violations stemmed from the unclear GST regulations for cryptocurrencies in India during its early stages.

ChainCatcher news, according to Barron's, the Trump administration may open the IPO market to cryptocurrency companies.

ChainCatcher news, Norway's sovereign wealth fund's ethical oversight body will investigate companies in the fund's portfolio (including those in the cryptocurrency sector) next year to determine if there are any ethical violations. If issues are confirmed, the fund may choose to divest from these entities.The Government Pension Fund Global is the largest sovereign wealth fund in the world, managing assets worth $1.8 trillion. The fund was established to manage surplus revenues from the oil and gas industry, aiming to ensure financial stability for future generations through diversified global investments.The agency reviewed an ethical committee document sent to the Ministry of Finance on October 10. The document indicated that in 2025, the ethical committee will investigate companies involved in cryptocurrencies and gambling due to their high money laundering risks.It is reported that the fund has increased its cryptocurrency investments, purchasing a 0.83% stake in Coinbase, valued at $453 million. It has also acquired shares in Marathon Strategy, Block, and Marathon Digital.

ChainCatcher news, an analysis by Patrick Hansen, Senior Director of Strategy and Policy at Circle, shows that the EU's banking regulation provides a significant competitive advantage for crypto companies, while their American counterparts face regulatory uncertainty and restricted bank access.The report indicates that the EU has promoted innovation in the financial sector for non-bank payment service providers (PSPs) through legal frameworks such as the Electronic Money Directive (EMD) and the Payment Services Directive (PSD). Recent regulations like the Instant Payment Regulation (IPR) and Payment Services Directive 3 (PSD3) further expand non-bank PSPs' access to central bank payment systems.In contrast, the United States is hindered by a lack of a unified federal regulatory framework, leading to restricted bank access and stunted industry development. Data shows that Europe has 55 crypto-friendly banks, far surpassing North America's 23.Hansen points out that the EU's coordinated regulatory strategy provides important support for the crypto and fintech industries while reducing regulatory uncertainty.

ChainCatcher news, according to Bitcoin.com News, Andreessen Horowitz (a16z) co-founder Marc Andreessen stated that 30 tech founders had their bank accounts revoked solely due to their association with digital currencies. Several crypto company founders, including Gemini co-founder Tyler Winklevoss and LBRY founder Jeremy Kauffman, shared similar experiences.The Gemini founder stated: "Not only personal accounts but even company accounts have been closed due to cryptocurrency business, and several banks supporting crypto companies are facing pressure." Custodia Bank founder Caitlin Long revealed that her company is suing the Federal Reserve due to multiple instances of being de-banked, with a court hearing expected in January next year.

ChainCatcher news, according to Reuters, Trump has promised to establish a new committee as part of a crypto-friendly government. Insiders say his transition team is discussing how to build and staff the committee, as well as which companies should be included.According to several executives in the digital asset industry, numerous crypto companies, including Ripple, Kraken, and Circle, are vying for seats on the cryptocurrency advisory committee promised by President-elect Trump, seeking a voice in his planned U.S. policy reforms.Trump has garnered support and campaign donations from the industry by promising to become the "crypto president" and to end Biden's regulatory crackdown on crypto companies accused of violating securities and anti-money laundering laws. Trump is also pushing for the issuance of an executive order to ensure that crypto companies can access banking services, end enforcement actions against them, and implement other changes.

ChainCatcher news, Consensys CEO Joe Lubin stated that under the leadership of the new President Trump, the conflict between the SEC and cryptocurrency companies may gradually fade. Lubin mentioned that the relevant parties will "find ways to have the cases dismissed or settled."He also noted that while not all cases will be dismissed, the industry will save hundreds of millions of dollars as the field develops. Lubin emphasized that the Trump team has already "taken proactive steps" and described Trump as "a very excellent politician" who "can grasp the spirit of the times and move forward with it."

ChainCatcher news, according to Cointelegraph, based on a report from SentinelLabs, North Korean hackers known as BlueNoroff are using new malware to attack cryptocurrency companies. The malware operation, codenamed "Hidden Risk," spreads through multiple stages via PDF files, using fake news headlines and cryptocurrency market research to lure users into downloading it.The malware package contains multiple features designed to provide hackers with a backdoor for remote access to victims' computers, stealing sensitive information, including private keys for digital asset wallets and platforms. According to cybersecurity company Recorded Future, North Korean hacker groups have stolen approximately $3 billion since 2017.

ChainCatcher news, according to Portal Do Bitcoin, Argentina's Financial Information Unit (UIF) and the Securities Commission (CNV) have conducted on-site supervision of a Bitcoin and cryptocurrency exchange for the first time to identify risks related to money laundering, terrorist financing, and the financing of weapons of mass destruction.This inspection is part of the UIF's 2024 annual regulatory plan and took place at an undisclosed exchange in the city of Rosario, Santa Fe Province. According to Resolution No. 49/2024, virtual asset service providers are required to report to the UIF and register with the CNV. This move comes as Argentina increases its vigilance against cryptocurrency-related scams, with recent reports of unregistered platforms involved in fraudulent activities.

ChainCatcher news, according to Cointelegraph, the U.S. Securities and Exchange Commission (SEC), the Federal Bureau of Investigation (FBI), and the Department of Justice (DOJ) jointly filed lawsuits on October 9 against four cryptocurrency companies suspected of fraud and market manipulation, including Gotbit Consulting, ZM Quant Investment, and CLS Global. Two lawsuits were also filed against individuals related to the case, with a total of nine individuals being charged, some of whom agreed to settle separately.Gotbit Consulting and its market director Fedor Kedrov are accused of manipulating the market through wash trading on behalf of individuals promoting cryptocurrencies named Saitama and Robo Inu. The other two companies, ZM Quant Investment and CLS Global, face nearly identical charges, all related to a token called NexFundAI. NexFundAI was created by the FBI. ZM Quant and four individuals associated with Pham are also charged in connection with another cryptocurrency asset, SaitaRealty coin.The Department of Justice listed 18 individuals and another company, MyTrade MM, which also provided services for NexFundAI, facing charges in these consolidated cases.The individuals involved in this case are distributed across multiple countries, including the United States, Russia, and India, reflecting the complexity and breadth of the case.

ChainCatcher news, according to CoinGecko statistics, the settlement amount between cryptocurrency companies and U.S. regulators has reached $32 billion so far, with the largest amount being FTX and Alameda, with a settlement amount of $12.7 billion, followed by Celcius ($4.7 billion), Terraform Labs ($4.5 billion), and Binance ($4.3 billion).

ChainCatcher news, Premier League clubs have reached sponsorship agreements totaling nearly £130 million with crypto companies in 2024, marking a resurgence in the crypto market and a surge in sports partnerships.SportQuake data shows that crypto companies have invested nearly £130 million ($170 million) in sponsorship for the Premier League this season, a year-on-year increase of 30%. This figure may further increase as more deals are expected in the 2024/25 season.

ChainCatcher news, according to CoinDesk, a dozen cryptocurrency companies unknowingly employed IT workers from the Democratic People's Republic of Korea (DPRK), including established blockchain projects such as Injective, ZeroLend, Fantom, Sushi, Yearn Finance, and Cosmos Hub. These workers used fake IDs, successfully passed interviews, cleared background checks, and provided real work experience.In the United States and other countries that sanction North Korea, hiring North Korean workers is illegal, and multiple companies that employed North Korean IT staff subsequently suffered hacking attacks. Noted blockchain developer Zaki Manian stated, "Everyone is trying to filter these people out." He inadvertently hired two North Korean IT workers to help develop the Cosmos Hub blockchain in 2021.U.S. authorities have recently intensified warnings that North Korean IT workers are infiltrating tech companies and using the proceeds to fund nuclear weapons programs. An investigation revealed that North Korean job seekers are particularly aggressive and frequent in targeting cryptocurrency companies—successfully passing interviews, clearing background checks, and even showcasing impressive code contribution histories on the open-source software repository GitHub.

ChainCatcher news, according to Blockworks, the regulatory actions led by SEC Chairman Gary Gensler are becoming a fixed operating cost for crypto businesses, which may affect the pace of innovation in the industry and the development of new projects.ChainCatcher previously reported that the U.S. Securities and Exchange Commission (SEC) reached a settlement with the cryptocurrency lending platform Rari Capital. The SEC alleged that Rari's tokens constituted unregistered securities and questioned the authenticity of its automatic rebalancing mechanism. Over the past year, at least a dozen crypto-related companies, including Uniswap Labs, eToro, and Binance, have reached settlements with regulators, paying a total of over $4.3 billion in fines.

ChainCatcher news, according to Jinshi reports, former U.S. President Trump stated that cryptocurrency companies should have certain security measures in place.He also mentioned that it is important to establish a legitimate cryptocurrency framework in the United States.

ChainCatcher news, CryptoQuant co-founder Ki Young Ju posted on the X platform stating that investors guide the flow of funds, while entrepreneurs shape the world accordingly. Due to investment mistakes, cryptocurrency/Web3 has been labeled negatively, but venture capitalists are now funding real-world solutions. In three years, we will see cryptocurrency companies solving real problems.

ChainCatcher news, according to Cointelegraph, the Bank of Latvia is taking proactive measures to provide free pre-licensing consultations for crypto asset service providers in line with the upcoming EU cryptocurrency regulations.Starting from January 2025, the bank will be responsible for accepting applications and issuing licenses to CASPs in the country. Meanwhile, the bank stated that it is helping businesses prepare for this through free pre-licensing consultations. Central bank experts will provide businesses with regulatory guidance tailored to their needs, all necessary documentation, and an initial assessment of each business's compliance level.

ChainCatcher message, according to a report released by the corporate watchdog Public Citizen on Wednesday, nearly half of corporate political donations in the 2024 election cycle are coming from cryptocurrency companies.The report by Public Citizen is based on data provided by the government transparency organization OpenSecrets, which found that so far, 48% of corporate election spending comes from crypto companies like Ripple and Coinbase. The vast majority of these donations have flowed into super political action committees (PACs) that support cryptocurrency, such as Fairshake.The report notes that of the $203 million raised by Fairshake, $107.9 million came directly from crypto companies, with the remainder coming from prominent figures in the tech and crypto industries, including large donations from the Winklevoss brothers and Coinbase CEO Brian Armstrong.

ChainCatcher news, according to The Information, the collapse of major cryptocurrency-friendly banks last year caused significant trouble for the cryptocurrency market, making it more difficult for hedge funds and other cryptocurrency investors to transfer funds at the speed required by most exchanges.However, an increasing number of cryptocurrency brokerage firms (such as FalconX) and cryptocurrency trading companies (including GSR and B2C2) have stepped in to provide short-term financing to ensure that their clients' trades can be settled immediately, generating substantial returns in the process. Several cryptocurrency brokers are acting as shadow banks, providing short-term loans to bridge the timing mismatch, charging annual interest rates of up to 25%.