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All the news about cryptocurrencies in one place. Round-the-clock, operational and automatic updating. Promo inquiries: @ryder_reilly
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Stealthy Crypto Malware Found in Popular Super Mario Game 🟢
♾ Hackers are using a resurgence in popularity around the Super Mario Bros. franchise to sneak stealthy crypto malware onto unsuspecting gamers’ personal computers.
‼️ As reported by Cyble Research & Intelligence Labs on Friday, a legitimate installer for the fan-made game “Super Mario 3: Mario Forever” secretely includes “an XMR miner, SupremeBot mining client, and the Open-source Umbral stealer,” on top of the actual game.
💬 “The social engineering tactics that TAs use exploit users’ trust and entice them to download and run malicious game installers,” wrote Syble. “The large file size and games’ complexity provide TAs opportunities to hide malware within them.”
👀 Mario Forever is a 2004 sidescroller featuring dozens of free levels that emulate the feeling of main series mario games. It’s been downloaded at least 17 million times, according to a CNET downloads listing for the game.
French Real Estate Firm Signs Crypto Pay Deal ‼️
🔴 A French real estate firm has signed a partnership deal with domestic crypto pay provider, an indication that the European nation may be the next to embrace crypto-powered commerce.
🟢 Per Boursier, Apsys will allow customers to pay using crypto at all of its shopping malls.
The firm operates the malls L’Heure Tranquille in Tours, Les Rives de l'Orne in Caen, Muse in Metz, and Steel in Saint-Étienne.
➡️ The deal involves the mobile crypto pay solution provider Lyzi, and customers will need to use crypto to buy digital gift cards from the Lyzi app in order to pay at the malls’ restaurants and outlets.
🔥 But customers will be incentivized to use crypto via a loyalty points system and “cashback”-type bonuses.
Lyzi technology will convert the crypto gift cards to fiat via the malls’ Point-of-Sale devices.
US court approves SEC-Binance US agreement⚡️
As per the approved agreement, only Binance US employees 🥸will have access to client funds until the litigation is resolved.
🚫On June 17, United States district court Judge Amy Berman Jackson approved an agreement between Binance US, Binance, and the U.S. Securities and Exchange Commission (SEC), dismissing a previous temporary restraining order (TRO) that would freeze all BinanceUS assets.
😲On June 14, Jackson said she would prefer the parties reach an agreement independently rather than have her rule. The sides reportedly reached an agreement on June 16.
✔️“We are pleased to inform you that the Court did not grant the SEC’s request for a TRO and freeze of assets on our platform which was clearly unjustified by both the facts and the law,” 👈Binance US said on Twitter.
👩🎓As per the approved agreement, only Binance US employees will have access to client funds until the litigation is resolved. U.S.-based customers will retain the ability to withdraw funds throughout this period.
Turkey's Economic Woes Push Investors Towards Stablecoin Tether 📌
➡️ As Turkey’s economic woes continue to deteriorate with lira spiraling downwards, investors are turning to cryptocurrency as a safe haven.
⚡️ Local demand for Tether, the largest dollar-backed stablecoin, surged in early May ahead of the election and has remained high since, according to a recent report from Bloomberg.
➡️ Tether's share of trading volumes on one of the biggest Turkish crypto exchanges, BTCTurk, stands at 20% compared to 1% on Binance, highlighting how strong the demand for stablecoin in Turkish markets is and its immense popularity as a way of protecting capital.
➡️ Turkey's President Erdogan is known for his unorthodox economic policies since the last election in 2018, including attempts to cut interest rates to temper inflation as high as 80% and ignoring standard monetary practices.
ℹ️ This has led to the lira dropping by 80% in value, causing concern among its citizens as its buying power continues to plummet.
Breaking: Coinbase Sued by SEC Just a Day After Binance Lawsuit 📣
💎 The US Securities and Exchange Commission threw a one-two punch to cryptocurrency exchanges this week, charging yet another exchange, Coinbase, Inc., on Tuesday.
The SEC did not charge Coinbase executives in the lawsuit.
➡️ “We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chair Gary Gensler in a statement.
✅ Those functions are separate in other parts of the securities markets, Gensler added.
➡️ “You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: the consequences for the investing public are far too great,” said Gurbir S. Grewal, director of the SEC’s Division of Enforcement.
Coinbase CEO Criticizes US Lawmakers, Regulators Over Regulatory Approach, Warns of Upcoming Innovation in China 🇨🇳
✔️ Coinbase CEO Brian Armstrong criticized US lawmakers and regulators over their approach to bringing “regulatory clarity” to cryptocurrency and warned that innovation is moving offshore.
🎙 "Countries like China will benefit from “restrictive U.S. crypto policies,” Armstrong said in a MarketWatch opinion article on Tuesday.
👑 “By enforcing restrictive policies, the U.S. is inadvertently driving crypto-innovation offshore,” Armstrong said. “That shift will compromise America’s legacy of pioneering technological advancements, and weaken our national security posture.”
🔥 China has its own digital yuan which has processed over $14 billion worth of transactions so far, according to a figure from October 2022.
🎙 “And with the recent launch of its digital yuan, China aims to directly challenge the U.S. dollar and its role in global commerce,” Armstrong said.
EU Investment Firms Should ‘Clearly Disclose’ That Some Assets ✔️
♾ Investment firms should make sure clients are aware of the regulatory status of the products they offer, including cryptocurrency, according to the latest notice from the European Union’s financial markets regulator.
👍 The European Securities and Markets Authority, or ESMA, said it was concerned about investment firms that offer unregulated products and services, in an investor protection statement released on Thursday.
🔔 “Where investment firms engage in providing both regulated and unregulated products and/or services, there is a significant risk that investors may misunderstand the protections they are afforded when investing in those unregulated products and/or services,” ESMA said.
📌 Crypto is unregulated in the EU until the Markets in Crypto-Assets regulation, MiCA, is applied at the end of 2024.
👍 The European Council adopted MiCA earlier this month, which would require firms that want to issue, trade, and safeguard crypto assets, tokenized assets, and stablecoins in the 27-country bloc to obtain a license.
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👀 Ripple Rises Above SEC’s Attempt to Conceal Hinman Docs in Landmark Court Win 👀
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'Inferno Drainer' scam as a service has stolen $5.9M since March 💲
‼️ A new scam as a service called “Inferno Drainer” has reportedly stolen nearly $6 million from unsuspecting crypto users, according to Web3 scam detecting firm Scam Sniffer. Inferno Drainer reportedly advertises that it provides ready-to-go code to scammers, allowing them to steal crypto in exchange for a 20% cut of the scammer’s crypto "loot".
⚠️ The scam service was discovered by security enthusiast and pseudonymous Twitter user 0xSaiyanElite, who happened to run across a promoter of it while browsing the Scam Sniffer Telegram channel. Saiyan reported the scammer to the channel, and the security service began an investigation. They found a screenshot showing a $103,000 drain transaction using a Permit2 exploit. Permit2 exploits are phishing scams that rely on a simplified version of the token approval process.
Bitcoin Lightning company River raises $35M amid ‘new wave of institutional adoption’🌸
💸The tide might have gone out on Bitcoin ordinals, but there’s a strong undercurrent of investments in Bitcoin-only companies. River, a United States-based Bitcoin technology and financial services company, is the latest to make a splash.
River announced a $35 million Series B equity funding round despite the bear market. Kingsway Capital led the round, with notable contributions from PayPal co-founder Peter Thiel, Cygni, Goldcrest and Valor Equity Partners.
😏According to Alex Leishman, the CEO of River, the new wave of Bitcoin interest is “largely driven by business and institutional adoption.” He added:👇
“It’s not fueled by hype. This year’s bank failures and bailouts have been a wake-up call, revealing the cracks of the traditional financial system and reminding us why Bitcoin is so important — it’s a secure path to a stronger and more transparent global economy."
The San Francisco-based company🥸 manages one of the largest Bitcoin Lightning nodes, enabling payments and managing liquidity for the Bitcoin Lightning Network.
😋The River Lightning API enables companies to easily integrate with the Lightning Network. The service has already taken charge of one of the key players in the Bitcoin payments landscape; El Salvador’s Chivo Wallet uses River for near-instant and near-free Bitcoin payments.
River was an early adopter of the Lightning Network, similar to global crypto exchanges like Bitfinex and Kraken.
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Kazakhstan collected $7M in crypto mining taxes in 2022 🔔
✅ The government of Kazakhstan received 3.07 billion tenges (approximately $7 million) in tax payments from crypto mining entities in 2022 following the implementation of an amended law regulating the fiscal burden of mining cryptocurrencies, according to local media reports.
💎 Preliminary data from the government for 2023 shows that mining fees collected by April 27 totaled 240 million tenges, over $541,000 at the time of writing. The figures are much lower than the 652 million tenge (~$1.5 million) in fees paid in the first quarter of 2022.
✅ Kazakhstan ranks among the world’s top Bitcoin mining hubs. As of January 2022, the Central Asian country contributed 13.22% of the total Bitcoin hash rate, just behind the United States (37.84%) and China (21.11%), according to data from Cambridge Centre for Alternative Finance.
Tokens but not crypto: Nigeria SEC prepares new digital asset rules🌿
Nigeria’s securities regulator will take at least 10 months to determine whether to register a digital asset-related company.
😏Nigeria, one of the world’s most curious nations about cryptocurrencies like Bitcoin, is preparing new industry regulations for digital asset platforms.
The Nigerian Securities and Exchange Commission (SEC) is considering allowing licensed digital exchanges to list tokens backed by certain assets, Bloomberg reported on May 1.🌸
According to the Nigerian SEC’s head of securities and investment Abdulkadir Abbas, the authority plans to only authorize listings of tokens based on assets like equity, debt or property. Cryptocurrencies like Bitcoin and Ether will not be among those assets, Abbas reportedly said.
😇Nigeria’s SEC aims to register fintech firms as digital sub-brokers, crowdfunding intermediaries, fund managers and tokenized coins issuers. The authority will not register crypto exchanges until the central bank provides clear regulations for the crypto market.
Abbas noted that license applicants would undergo a year of “regulatory incubation,” allowing the SEC to study their operations and render their services in the country. He added:👇
“By the 10th month, we should be able to make a determination whether to register the firm, extend the incubation period or even ask the firm to stop operation.”
😂As previously reported, the Central Bank of Nigeria banned local banks from providing services to cryptocurrency-related platforms in early 2021. On the ban, the regulator cited high risks associated with trading cryptocurrencies like Bitcoin. The central bank also promised to impose strict penalties for any lender or financial institution failing to comply with the directive.
Despite the ban, Nigeria has emerged as one of the most active countries in terms of adoption and curiosity about Bitcoin and other cryptocurrencies.☁️
Americans Want Regulated Spot Bitcoin ETFs, Says Coinbase's Chief Legal Officer 💎
➡️ The American people want access to more safe and regulated crypto-based investment products, and the market is now responding to this, Coinbase’s chief legal officer Paul Grewal has stated.
⚡️ “We have great confidence that the market is responding to what Americans have said about what they want in their financial future. It’s something like 20% of Americans who have already bought or sold digital assets in one form or fashion, and over 60% believes that our current system needs a serious upgrade,” Grewal said in an interview on Bloomberg TV on Thursday.
🔔 He added that Coinbase believes crypto to be “an important part” of what Americans want for their financial future, and said the market now is attempting to deliver “safe, regulated products” to the American people, referring to a spot Bitcoin exchange-traded fund (ETF).
📌 He went on by suggesting that the US Securities and Exchange Commission (SEC) is not acting in the best interest of the American people.
✔️ “When the U.S. government, the SEC in particular, stands in the way of that access, they are really standing in the way of what the American people have said, clearly, they want,” Grewal said.
Binance Forced to Stop Providing Crypto Services in Belgium by Financial Regulator 📣
📍 The financial regulator in Belgium, the Financial Services and Markets Authority (FSMA) had forced the cryptocurrency exchange Binance to halt its services in the country alleging that the exchange has violated the law by serving Belgian customers from countries outside the European Economic Area (EEA).
🗺 “The FSMA has noted that Binance is offering and providing exchange services in Belgium between virtual currencies and legal currencies, as well as custody wallet services, from countries that are not members of the European Economic Area. The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any and all such services in Belgium,” the FSMA said in a statement.
🟥 According to the statement, companies that are from countries outside the EEA are prohibited from offering exchange services between virtual currencies and legal currencies to customers within Belgium.
❔ The FMSA is blaming the exchange for violating Article 136 of the Belgian Law and thus imposing sanctions to prevent money laundering and terrorist financing.
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S Korean Crypto Lender Delio Suspends Withdrawals 🔠
💫 The South Korean crypto lending platform Delio says it is “temporarily” suspending deposits and withdrawals, as financial regulators say they are “investigating” the situation.
The platform is a crypto lending service and wallet, which holds an official virtual asset service provider (VASP) operating license.
✏️ In a statement, the firm said that it would halt deposits and withdrawals on the platform as of UTC 09:30 on June 14.
Delio blamed the move on “the aftermath” of domestic firm Haru Invest’s own decision to suspend crypto deposits and withdrawals this week.
⚡️ Delio said Haru’s move had “dramatically increased market volatility and increased confusion among investors.”
The newspaper Herald Kyungjae quoted Jeong Sang-ho, Delio’s CEO, as “admitting” that “some” of its customer assets had been invested on Haru’s platform.
➡️ He said:
“I cannot disclose the exact amount, but it is true that some of our customers’ funds were deposited with Haru Invest.”
Crypto Card Adoption Rising in Brazil, Say Issuers ✏️
📈 Crypto credit card adoption is on the rise in Brazil, issuers have claimed, with more Latin American users than ever reportedly buying and spending tokens.
Per the Brazilian media outlet Livecoins, Brazilians are not just buying crypto, but also using coins, instead of fiat, to pay in stores.
♾ The media outlet quoted Binance’s Brazilian head Guilherme Nazar as stating that cards, such as the Binance Card, were “bringing cryptocurrencies into users’ day-to-day lives.”
He claimed that citizens were now “buying bread at the bakery, paying for dinner with friends, and paying for taxi fares” using crypto-powered cards.
⚠️ Nazar added that the card was helping Binance “meet the demands of its local users.”
The exchange giant further claimed that “most” crypto cardholders use their coins to pay in supermarkets or grocery stores.
Crypto Biz: Six months on from FTX, Tether mines BTC, and Nvidia’s AI superchips😈
🫶Just over six months after FTX’s dramatic collapse, the crypto industry can finally begin analyzing the effects of the debacle. The quick ripple effect to other crypto businesses drained liquidity from the industry and prolonged the crypto winter, with Silvergate Bank, BlockFi and Genesis Global Capital among those hit by the exchange’s collapse.
FTX’s bankruptcy😐 has also affected the crypto regulatory landscape, with authorities cracking down on firms — employing controversial methods in some cases — to avoid a deepening blend of traditional finance with cryptocurrencies.
Companies that closed their United States✌️ operations citing regulatory pressure in the past months included Bittrex, Nexo and Unbanked, to name a few. Coinbase CEO Brian Armstrong said this week that China stands to benefit most from restrictive crypto policies in the U.S., but only time will tell if this is true.
☄️Companies are also reviewing their business operations due to increased regulatory scrutiny. In response to crypto firms being debanked, Binance has even considered buying a bank in the past months, said its CEO Chanpeng Zhao. Now, the crypto exchange is gearing up for a layoff that will boost its compliance and regulatory capabilities.
😡While the industry digests the recent events, FTX’s new management claims FTX 2.0 could be launched as soon as next year, hopefully in time to join the club of crypto companies striving to remain in business after November 2022.
AirDAO Achieves Decentralized Governance
AirDAO, the groundbreaking Decentralized Autonomous Organization (DAO), has completed its long-term plan of decentralized governance.
AirDAO has embraced a new era of democratic decision-making following the election of nine council members to the AirDAO Council. Traditional leadership roles such as ‘Director,’ ‘CTO,’ and ‘CEO’ are being eliminated. The AirDAO Council will take control of the organization's finances, operations, and blockchain. The community-elected council will have 100% control over AirDAO’s assets from May 31st, 2023.
Led by long-term community member Michael Grimwood, the AirDAO community created the proposal and participated in the council election process. Multiple community members nominated themselves as candidates for the council, which will guide the future of the AirDAO ecosystem.
The AirDAO team supported the community throughout the transition. Director/CEO Lang Mei demonstrated exceptional leadership by accepting the community’s innovative proposal and committed to stepping down by May 31st, 2023. The AirDAO internal team leveraged their experience and expertise to ensure a seamless election and transition process for the community.
AirDAO will continue its path toward total decentralization under its new leadership. Council members are committed to collaborating with the community to consider every idea and opinion. The AirDAO Council will meet soon to discuss the organization’s plans — prioritizing the development of products the community wants in alignment with AirDAO’s tokenomics upgrade and decentralization roadmap.
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South Korean Prosecution Vows to ‘Review’ Crypto Sector as Scandal Intensifies 💎
🧊 South Korea’s Prosecutor-General has promised a “thorough review” of the crypto sector amid rising “public suspicion” about politicians and their crypto holdings.
Per Yonhap, Prosecutor-General Lee Won-seok said his agency would “faithfully investigate” the sector.
💫 And he pledged to “resolve public suspicions about cryptoassets.”
Lawmakers and prosecutors are attempting to fight a wave of outcry sparked by the Coin Gate scandal.
Earlier this month, a leading MP was reportedly found to have traded coins with “insider knowledge” of forthcoming crypto regulations.
❗️ A range of other allegations has also been made about the MP, Kim Nam-kuk.
Lee distanced himself from crypto, saying:
❔ “I have never owned stocks or cryptoassets. That will not change in the future.”
🆒 Speaking to media representatives outside the Suwon District Prosecutor’s Office, Lee said that prosecutors would tackle issues such as “token listings on exchanges.”
The pepperoni on the first pizza bought with Bitcoin is worth $6.5M today 💲
🔕 It’s been 13 years since programmer Laszlo Hanyecz made the first commercial transaction with Bitcoin on May 22, 2010, buying two supreme pizzas from Papa John’s for a whopping 10,000 BTC, or $266 million at current prices.
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💠 “Bitcoin Pizza Day” marks the world’s first transaction for real-world goods using Bitcoin and celebrates the massive rise in the value of the cryptocurrency since then, which was worth only $0.0041 in May 2010 and is now worth over $26,500 at current prices.
⚡️ In the end, Hanyecz’s pizza order was delivered four days after he posted his request on May 18, 2010, on the Bitcointalk forum.
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LG Electronics files patent for NFT-trading TV🤪
🤩The information was published on WIPO’s global database for intellectual property on May 11, 18 months after LG filed its application.
South Korean tech company LG Electronics has filed a patent application for its blockchain-based smart TV, which allows users to trade nonfungible tokens (NFTs).
😊The information was published on the World Intellectual Property Organization’s (WIPO) global database for intellectual property on May 11. According to WIPO’s documentation, a patent application is published 18 months after the filing date or the priority filing. Based on this timeline, LG’s application was submitted in November 2021. The next steps include substantive examination, followed by granting or refusing legal protection to the invention.
According to LG’s application, its technology allows devices to connect with a crypto wallet and an NFT market server to enable transactions. When connected to an NFT market server, the device incorporates onscreen QR codes that let users complete transactions via a cryptocurrency wallet.
😁The application follows the release of LG’s own NFT platform in September 2022 — the LG Art Lab Marketplace — based on the Hedera network. It allows TVs running webOS 5.0 or later versions to trade digital artworks.
It’s unclear if the TV will integrate with different wallets or be restricted to LG’s Wallypto — the company’s smartphone crypto wallet — which is also available on its Art Lab Marketplace.
😋LG is onboarding a range of Web3 solutions to its devices. In January, the company disclosed a partnership with cloud-based technology platforms Oorbit and Pixelynx to bring the metaverse directly into viewers’ living rooms. At the time, Cointelegraph reported that the collaboration was designed to allow customers to explore interconnected virtual worlds, concerts and artificial intelligence multiplayer games through their LG TVs.
Bitcoin trading up 80% at DBS Bank due to crypto crashes in 2022, says exec👇
DBS Bank’s crypto trading platform has been attracting more institutional investors due to crypto exchanges that collapsed last year.
😅Singapore megabank DBS is among the few companies worldwide that reaped major benefits from massive crypto industry collapses in 2022.
😎DBS Digital Exchange, DBS Bank’s institutional crypto trading platform, saw a significant increase in Bitcoin trading volumes last year. According to DBS Digital Exchange CEO Lionel Lim, the amount of Bitcoin that DBS stored for its clients more than doubled in 2022 compared to the previous year.
“Bitcoin trading volumes grew 80% at the digital exchange during the same period,” 👈Lim said in an interview with Cointelegraph on May 8.
The executive believes that the spike in demand for crypto services at DBS Digital Exchange is a consequence of crypto exchange collapses in 2022. Lim noted that DBS continues to see a growing trend in volumes. He stated:👇
“DBS continues to benefit from the flight to safety and quality following the implosion of several exchanges last year.”
🙃Evy Theunis, head of digital assets at DBS Bank, also told Cointelegraph that DBS had seen more cooperation inquiries from digital asset and blockchain firms in recent months.
Launched in 2020, DBS’ cryptocurrency exchange initially served exclusively institutional investors. In September 2022, DBS Digital Exchange expanded access to its products to accredited investors, who are individuals. The digital asset platform currently provides services to corporate and institutional investors, accredited investors and family offices.
🧐Before FTX collapsed in November 2022, a significant amount of crypto trading on the platform came from institutional investors. In March 2022, FTX launched a dedicated unit working with institutions. At the time, about two-thirds of trading volumes on FTX and FTX US were reportedly coming from institutional accounts.
WallStreetBets mod dumps memecoin worth $635K in alleged rug pull🥸
👉Within two days, the token’s price plummeted from an all-time high of $0.00067279 to an all-time low of $0.00004827.
A moderator of the popular trading subreddit r/WallStreetBets has dumped a large portion of the WSB Coin (WSB), a token project that claims to be the official memecoin of Wall Street Bets.🧑
👉On May 2, WSB was launched by people involved in moderating the WallStreetBets Reddit forum. The subreddit gained notoriety for the GameStop short squeeze, sending hedge funds to their knees in January 2021.
The creators of the WSB token claimed that there would be no allocation for the team and that 10% of the coins would be reserved for the subreddit. The website writes:👇
“It’s the fairest launch memecoin you will find with no team allocation and no presale. Just a free airdrop and some coins for the community. 10% of the $WSB supply is reserved as a treasury for the r/wallstreetbets sub to do with as they please.”
However🌸, just days later, one of the token’s team members started to dump massive amounts of tokens. On May 4, on-chain detective ZachXBT tweeted that “zjz.eth,” who runs the moderation bots for the subreddit, has allegedly pulled the rug on WSB investors. On-chain data shows that zjz.eth has sold WSB coins in exchange for 334 Ether, worth around $635,000 at the time of writing.
😤The token price dropped massively after the dump, going from an all-time high of $0.00067279 to an all-time low of $0.00004827 in two days. Community members warned people to refrain from buying the dip as the moderators still have access to 10% of the total supply.
Meanwhile, another moderator who goes by WSBmod has threatened to report those who were involved in the dump to the police and the FBI if they don’t reach out. The moderator urged zjz.eth to return the money. 🌿
Hong Kong regulator requires banks to open accounts for crypto firms🌿
Hong Kong’s central bank has urged banks to provide services to crypto firms before receiving a license.
🔍The Hong Kong Monetary Authority (HKMA), the region’s central banking institution and regulator, has called on banks to provide services to cryptocurrency firms.
On April 27, the HKMA issued a circular related to the access of corporate customers to banking services. In the document, the regulator has required authorized institutions, referred to as “AIs,” 🤨to adopt a risk-based approach in Anti-Money Laundering efforts.
😱The HKMA also urged the institutions in Hong Kong to pay attention to market developments and take a forward-looking approach to new sectors like the crypto market. Hong Kong’s central bank has specifically required the institutions to help virtual asset service providers (VASPs) in getting banking services, stating:
“AIs should endeavor to support VASPs licensed and regulated by the Securities and Futures Commission on their legitimate need for bank accounts in Hong Kong.”
🙊The regulator stressed that customer due diligence (CDD) measures should be proportionate to the risk level of customers in order not to create an undue burden on the customers.
For example, if a VASP has applied for a license under Hong Kong’s new crypto regulatory regime and only wants to open an account for its own corporate use, AIs should provide the service even before the approval, the HKMA said. The authority wrote:
“Authorized institutions should give due regard to the ‘approval-in-principle’ issued by the relevant authority to VASP license applicants in the CDD process instead of taking no actions until the VASP license is actually granted.”
😇Additionally, the statement encouraged lenders to train staff and form dedicated divisions to support the crypto industry while avoiding a “wholesale de-risking approach” that turns away new industries or certain nationalities.
