Cryptocurrency

According to data from The Block, cryptocurrency monthly exchange volume, which calculates spot market volume across all crypto exchanges, was $439.42 billion in May, down more than 27 per cent from $604.88 billion in April, reports TechCrunch.

The order for Firoz Patel, 48, came on Wednesday, shortly before he reported to prison in another case in 2021. The two-count indictment, unsealed on May 17, charged Firoz with money laundering and engaging in monetary transactions in property derived from specified unlawful activity.

The fund, launched under CoinSwitch Ventures last year, empowers early-stage startups developing Blockchain-based solutions for the Web3 landscape. In less than nine months, the fund has expanded its VC investor network from six to over 70 participants, the company said in a statement.

The move came as Rep. Kim has come under fire following revelations he owned around 800,000 Wemix coins in 2021, worth around 6 billion won ($4.5 million), a significant amount inconsistent with his frugal image. Suspicions have arisen over where the money came from and whether he used insider information.

According to the blockchain and smart contract security company CertiK, the total funds hackers managed to drain in April from crypto projects was $103.7 million, bringing the total year-to-date loss to $429.7 million. Several significant crypto exploits occurred in April, resulting in significant losses in the industry. For instance, there was a $25.4 million loss due to an exploit of multiple MEV trading bots.

Although Bitcoin topped over $30,400 on April 18, reaching the highest level since early June, its monthly gain was only 3 per cent, way down from 21 per cent in March and much less than gains usually seen in the fourth month of the year, according to data by BitcoinCasinos.com.

The IMF has given a paper on crypto-currency and the way it can affect the macroeconomic stability. "The Financial Stability Board (FSB), which was set up by G20, has agreed to give a report that will also focus on financial stability," Sitharaman said. Reports of both FSB and IMF will be discussed in July when Finance Ministers and Central Bank Governors will meet under the G20 umbrella, the Finance Minister said.

According to a joint statement issued by the British government, both India and the UK discussed existing collaboration between central banks on climate scenario analysis and stress testing, as well as capacity building and spreading awareness on climate risk and sustainable finance.

MobileCoin confirmed to ABC7 News that Lee was killed in a fatal stabbing in San Francisco on Tuesday. The San Francisco Police Department responded to a report of a stabbing near the 300 block of Main Street in SoMa. Lee was taken to a hospital but succumbed to his injuries. No arrest has been made so far in the case.

"Rrypto assets are currently unregulated in the country, however, transactions in cryptocurrencies are subjected to provisions of various laws like the Prevention of Money Laundering Act, 2002 and Income Tax Act, 1961," Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha in a written reply.