Bitcoin News and Finance: What You Need to Know

India’s finance minister, Nirmala Sitharaman, has urged the International Monetary Fund (IMF) to take “a lead role” in regulating crypto assets. IMF Managing Director Kristalina Georgieva says the global organization stands ready to work with India on climate change, crypto regulation, and other global challenges of our times. India Wants IMF to Lead in Crypto Regulation Indian Finance Minister Nirmala Sitharaman met with Kristalina Georgieva, the managing director and chairman of the executive board of the International Monetary Fund (IMF), in New Delhi on Wednesday. The two discussed a wide range of topics, including India’s upcoming G20 presidency and crypto regulation. According to India’s Ministry of Finance, Sitharaman and Georgieva discussed the significance of regulating crypto assets and the need to have a “globally coordinated, synchronized approach to the issue.” In addition, the Indian finance minister urged the IMF to “play a lead role in this regard.” Sitharaman’s s...

Canadian crypto exchange Coinberry, part of Kevin O’Leary’s Wonderfi, has sued 50 customers for the return of the bitcoin they obtained without paying during a software glitch. “Coinberry contacted all of the said 546 affected registered users by email and demanded the return of the misappropriated bitcoins,” the lawsuit details. Coinberry Sues Users to Get Bitcoin Back Canadian cryptocurrency exchange Coinberry has reportedly sued its customers who took advantage of its software glitch and obtained bitcoin without paying. Coinberry, a regulated crypto trading platform, is owned by Vancouver-based Wonderfi Technologies Inc., a company backed by Shark Tank star Kevin O’Leary. The lawsuit, filed in Ontario in June, explains that during a software upgrade in 2020, Coinberry accidentally let users buy BTC with Canadian dollars that had not properly transferred to their accounts. The exchange detailed that during the software glitch, customers could initiate an Interac e-transfer, g...

Mysten Labs, developer of a new blockchain project called Sui, raised $300 million in its latest funding round. The round, which was led by FTX ventures, also had the support of A16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, and Coinbase Ventures, among others. The funds will be directed to continue growing Sui’s infrastructure and core, hiring in the Asia Pacific area for this task. Mysten Labs Reaches $2 Billion Valuation in Series B Funding Round Mysten Labs, a company founded by Meta’s former employees that worked on the Novi project, has achieved a significant milestone for its future. The company reported having raised $300 million in its Series B funding round. The round was led by FTX Ventures and had the participation of many venture capital firms, including A16z crypto, Jump Crypto, Apollo, Binance Labs, Franklin Templeton, Coinbase Ventures, Circle Ventures, and Lightspeed Venture Partners, among others. This funding round allowed the company to rea...

Days after the two institutions agreed on the need for cross-border crypto payments, the finance ministry and the central bank of Russia are once again highlighting their different priorities. While the treasury department aims for legalizing cryptocurrency payments in the coming months, the monetary authority says it will “actively promote” its digital currency for international settlements. Bank of Russia Seeks to Impose Digital Ruble for International Settlements The Central Bank of Russia (CBR) will “actively promote” the employment of the digital ruble in cross-border payments, its Governor Elvira Nabiullina stated in a documentary aired by the Russia-24 TV channel. The film was devoted to the 220th anniversary of the Ministry of Finance of the Russian Federation. The department recently announced it had reached an agreement with the monetary authority on the need to legalize international crypto payments in the face of Western sanctions. In the current conditions, “it is imp...

According to reports, the Japanese government is one of the first countries to use non-fungible tokens (NFTs) as a supplementary award to local authorities that excelled in a digitization competition. The awards were given to local authorities as recognition for their efforts in using digital technology to solve local challenges. Issuing and Distributing NFTs via a Low-Cost Blockchain In what has been described as a first for the Japanese government, the country’s cabinet secretariat recently used non-fungible tokens (NFTs) as a supplementary prize during a ceremony to recognize local governments that excelled in a digitization competition. According to a Coinpost report , this year’s award ceremony was supported by four technology companies: Indiesquare, Bitflyer Holdings, Tree Digital Studio, and Tomonari Kogei. As noted in the report, Indiesquare’s low-cost blockchain platform, the Hazama Base, was used to issue and distribute the NFTs. Before this, the platform was similarly us...

Thailand’s securities regulator recently said it had referred digital asset service provider Zipmex and its Thai unit chief executive officer, Akalarp Yimwilai, to a technology crime division of the Royal Thai Police. The regulator said it made decision after Yimwilai and his company failed to comply with the request to furnish an official with information relating to customers’ digital wallets. Zipmex Fails to Share Details on Transfers and Withdrawals on Its Platform Thailand’s Securities and Exchange Commission (TSEC) said it has referred Zipmex and the digital asset service provider’s Thai unit chief executive officer (CEO) Akalarp Yimwilai to local law enforcement for non-compliance “with the order of the competent official.” In a statement, the regulator said it took action after Yimwilai and his company failed to submit information relating to customers’ digital wallets. Zipmex is also accused of failing to furnish the TSEC official with details on the transfer and withdrawa...