Weekly Report (18– 24 April 22) | What Happened This Week In Crypto

This Report will provide you with some important and quick news about cryptocurrencies that happened around the world.

1) A New York State Bill Would Criminalize Crypto Rug Pulling And Scams

Senator Kevin Thomas of New York has introduced legislation to punish rug pulls and other fraudulent conduct in the cryptocurrency field. Additionally, the proposed bill proposes an amendment to criminalise virtual token distribution, concealed interest in crypto, and private key abuse under New York law…[continue reading]

2) Smart Contract Error Freezes $34 Million Of ETH For NFT Project

An NFT project named AkuDreams was struck by a griefing exploit via its refundable Dutch auction Friday in which the hacker did not benefit, but the project’s smart contract was afterwards frozen with $34 million in cash…[continue reading]

3) US Treasury Sanctions 3 Ethereum Addresses Related To North Korea

In an apparent attempt to prevent North Korea from avoiding the United States and UN sanctions, the government department placed the addresses on a list. Sanctions on three Ethereum addresses related to the hacking gang responsible for the loss of more than $600 million in crypto from Axie Infinity’s Ronin sidechain have been added by the US Treasury Department…[continue reading]

4) The Bank Of England Claims That Crypto Has Left Them With A $419 Million Deficit

For this year’s monitoring obligations, the Bank of England’s regulatory arm believes it will require more funds. PRA wants to raise 321 million pounds ($419 million) by February 2023, a 9 percent rise from last year’s total, to address the mounting risks surrounding cryptocurrencies and other new technologies, according to the regulator’s annual business plan released Wednesday…[continue reading]

5) According To Michael Saylor, Bitcoin Is The Answer To Inflation

The MicroStrategy Chairman and CEO gave his ideas on why he thinks BTC is a feasible answer to inflation, the possibility for greater Bitcoin acceptance, and what Twitter under Elon Musk may mean for the cryptocurrency community in an interview with Bloomberg Technology…[continue reading]

6) Regulating Crypto Is A Priority Issue For India, According To The IMF

As cryptocurrencies gain popularity and acceptance as a viable alternative to conventional payment methods, governments and organisations worldwide struggle to determine how to better regulate these new assets…[continue reading]

7) Australia’s First Bitcoin ETF Might Attract $1 Billion After Its Introduction 

Australian investors will have access to the country’s first Bitcoin spot ETF next week when the Cosmos Asset Management Bitcoin ETF is listed on ASX Clear. Financial authorities have approved Australia’s first Bitcoin ETF, which will begin trading on April 27 and is expected to attract up to $1 billion in inflows, according to the Australian Financial Review…[continue reading]