Welcome to the weekly news update on cryptotvplus, it is the 12th of October 2022, I’m Nike Oshunniyi bringing you the weekly dose of blockchain news.
Coming up,
– Elon Musk’s Company Accepts Dogecoin
– FinCEN fines Bittrex $29million
– Coinbase Moves into Singapore
– Crypto Funds used for Nuclear Weapons
– Events Packed For The Month of October & More
Quickly, on the market rates today,
Bitcoin is at 19,169.01 Ethereum is at $1,283.71 BNB at $271.92 and the Dollar to Naira rates at N726
Now let’s get you updated, on the crypto weekly news.
First up,
The Boring Company, an underground tunnelling system company established by Elon Musk has allowed customers to pay for the product with Musk’s favorite cryptocurrency Dogecoin.
Over the past few years, he had admitted investing some of his personal wealth in it and had praised the token’s merits on multiple occasions.
In August, the entrepreneur opined that Dogecoin has a better transactional capacity than Bitcoin.
Unsurprisingly, some of the companies that Musk runs are also supportive of the asset. The EV giant Tesla, the spacecraft manufacturer SpaceX, and the tunnel construction services firm The Boring Company have all embraced DOGE as a means of settlement.
Moving on,
After conducting a civil enforcement investigation, the United States Financial Crimes Enforcement Network (FinCEN) has imposed a monetary penalty against the cryptocurrency exchange Bittrex over violations of the Bank Secrecy Act (BSA).
In accordance with the measure, which is part of a global settlement with the Office of Foreign Assets Control (OFAC), Bittrex will be forced to pay $29,280,829.20 for violating the BSA and FinCEN’s implementing regulations, according to a press release shared with Finbold on October 11.
Meanwhile,
Coinbase announced Monday that it has received “In-Principle Approval (IPA) as a major payments institution license holder from the Monetary Authority of Singapore (MAS).”
“Today’s announcement underlines our commitment to Singapore as a regional hub,” Coinbase stressed. “Singapore serves as the hub for Coinbase’s APAC institutional business … Gaining this in-principle approval from MAS is an important step, as we plan to launch our full suite of retail, institutional and ecosystem products. Singapore plays a critical regulatory and commercial role in APAC and beyond, and serves as our global talent hub; we are excited to continue investing and building for the crypto economy here.”
To close off the news today,
North Korea seems to be using hacked funds to finance their new nuclear adventures. This is according to a new investigation that involves all the intrigue of U.S. Intelligence, South Korean politicians, and an ex-Ethereum developer who now resides in an American jail.
International investigators allege that North Korea stole “hundreds of millions of dollars in digital assets” to develop a nuclear weapons program. In parallel, in South Korean political circles, politicians are accused of having ties to crypto developer Virgil Griffith. Griffith is a former Ethereum developer. He was sentenced to more than five years in a U.S. prison for helping North Korea evade sanctions. dogecoin news bittrex fined $29million dogecoin news today coinbase singapore
1 Comment
Should we expect Dogecoin to pump soon?