Bitcoin News and Finance: What You Need to Know

The European Union said Russian nationals from owning or controlling crypto service providers under the bloc’s twelfth package of restrictive measures against the country. According to the EU, diamonds entering its will now have to be traced from “the mine to the finger” and this is set to be done using the blockchain. New Package Seeks to Combat Sanctions Circumvention The European Union (EU) announced on Dec. 18 that it had adopted a new package of economic and individual sanctions. The package now bars Russian nationals from owning or controlling crypto service providers. This ban is part of the EU’s attempt to “limit circumvention of the prohibition” on the provision of crypto-related services already imposed. According to the European Commission (EC), the new sanctions package seeks to fulfil the EU’s key objective of finding “a just and lasting peace, not another frozen conflict.” In the document that answers key questions about the Russian sanctions, the EC insisted that th...

A report issued by Grant Thornton, a professional services network, has revealed that family offices are eyeing crypto and blockchain to increase their investments in these areas. More than half of the family offices consulted have already invested in digital assets, with 38% allocating less than 1% of their portfolio to these technologies. Grant Thornton Report Reveals Family Offices’ Interest in Crypto and Blockchain Family offices might be considering putting more funds behind crypto and blockchain initiatives. A recent report prepared by Grant Thornton, a professional services network that operates in over 147 markets and employs over 68,000 personnel, has revealed that family offices are warming up to crypto and blockchain. 35% of these offices hope to increase their exposure to blockchain investments, while 27% expect to increase their investments in cryptocurrency. Nonetheless, these two investment tools are not new for this kind of institution, as more than half of the off...

Ripple’s president has shared her crypto predictions, stating that 2024 could mark “the breakout moment where institutional adoption for real-world utility takes off.” She emphasized: “The industry needs to build compliance tooling in a decentralized environment. It’s the next frontier of innovation in blockchain.” ‘We Reached the Tipping Point for Crypto to Be Recognized as Mainstream’ Ripple’s president, Monica Long, shared several predictions regarding the future of crypto and blockchain over the next 12 months on social media platform X Tuesday. “Within the past couple of years, we’ve seen many more traditional financial players such as Fidelity, Blackrock, Paypal, and Visa integrating or partnering with crypto-native companies to offer crypto and blockchain services and products,” she described. “The way forward is a happy marriage — blockchain will not replace banks. The ability to settle payments instantly, across borders, without the need for a middleman charging exorbitant...

In a recent development in the high-profile case of Sam Bankman-Fried, the founder of the now-defunct crypto exchange FTX, a request for postponement of the sentencing hearing was firmly denied by U.S. District Judge Lewis Kaplan. Bankman-Fried’s legal team had sought a four to six-week adjournment, citing the need for additional preparation time. However, the court’s refusal to grant this extension marks a significant moment in this ongoing legal saga. Sam Bankman-Fried Sentencing Date Proceeds as Kaplan Denies Delay The defense, representing Sam Bankman-Fried (SBF), submitted a formal request for the adjournment of the sentencing hearing, originally scheduled for March 28, 2024. This plea was grounded in the defense’s requirement for more time to gather necessary materials and prepare adequately for the upcoming presentence interview. The defense emphasized the importance of this additional time for a thorough and fair preparation process. “The defense requires the additional ti...