#cryptocurrencies

U.S. Senator Elizabeth Warren of Massachusetts has once again expressed her concerns about cryptocurrencies, emphasizing the need for their compliance with current traditional financial regulations. She highlighted her proposed anti-money laundering legislation, which could have adverse effects on the crypto sector, awaiting further examination.

PostFinance, one of Switzerland's major banks, is stepping into the cryptocurrency world with a service for retail clients, launching on February 21, 2024. The service will allow users to purchase, store, and even set up savings plans for digital assets. Initially, it will offer access to 11 popular cryptocurrencies.

In China, local governments and law enforcement agencies warned the public against illegal fundraising activities masked as lucrative crypto investments.

Brian Nelson, the U.S. Deputy Treasury Secretary for Terrorism and Financial Intelligence, conceded in a Congressional hearing that the role of cryptocurrencies in funding terrorism has been overstated.

Valkyrie Chief Investment Officer Steven McClurg believes that a spot Ethereum ETF is unlikely to come soon, though it could be approved by 2026. He advises against drawing parallels with the Bitcoin ETF, highlighting significant differences between the two cryptocurrencies.

The U.S. Financial Crimes Enforcement Network (FinCEN) has released a report that unveils statistics on the use of various cryptocurrencies in crimes related to human trafficking and the sexual exploitation of children between 2020 and 2021. Throughout this period, the criminal funds identified amounted to $412 million.

The Spanish Ministry of Finance is drafting a bill aimed at the confiscation of digital assets to cover outstanding tax liabilities. The new regulations will allow investigators to track users' cryptocurrencies and freeze them for subsequent confiscation at the earliest opportunity.