#transactions

As a stablecoin that exists independently of the specific blockchains it utilizes for transactions, USDT's adaptability on over 15 blockchains has prompted Tether to offer a fallback for users against potential blockchain failures. The company has unveiled a tool designed for the recovery of USDT tokens across a multitude of blockchains.

In an effort spanning the last two years, Binance has managed to recompense $4 billion to its users, addressing losses from platform glitches or user errors. This includes mishaps like incorrect deposits or transactions amid blockchain upgrades, with the team rectifying upwards of 381,616 such instances.

The Central Bank of Nigeria has reversed its directive that barred commercial banks from engaging with cryptocurrency platforms. This change has, however, stirred discontent among P2P traders, who had largely taken over the market after the initial ban.

F2Pool, a prominent Asian Bitcoin mining pool, appears to be enforcing U.S. sanctions by selectively filtering transactions from wallets identified on the OFAC blacklist.

The cryptocurrency project Evmos, which allows deploying Ethereum smart contracts on the Cosmos blockchain, decided to completely abandon the support of native Cosmos transactions and focus on Ethereum by the end of 2024.

Deutsche Bank and SC Ventures have successfully executed the first stablecoin swaps within the Universal Digital Payments Network (UDPN). This platform was established to facilitate transactions using stablecoins and Central Bank Digital Currencies (CBDC).

The agency highlights that entities like HAMAS and other terrorist groups employ these mixers for illicit activities. This designation acts as a form of sanction, with stringent reporting requirements for any associated financial transactions.

Ethereum co-founder Vitalik Buterin has initiated a transfer of $14.9 million in USDC to the Gemini cryptocurrency exchange, thereby adding to the growing number of similar transactions in recent months.

Nigeria's government has levied a $10 billion fine against Binance, citing illegal transactions and efforts to manipulate the local currency's value. This move was outlined in a BBC interview with Bayo Onanuga, the President's Information and Strategy advisor.

The US Internal Revenue Service (IRS) has brought on board two former cryptocurrency company employees as consultants to aid in crafting the definitive tax regulations for digital assets. This move will impact all crypto businesses, including exchanges and brokers, requiring them to report all transactions per client.

Crypto enthusiast Preston Pysh has scrutinized the recent proposals by the Financial Crimes Enforcement Network (FinCEN) aimed at tracking all cryptocurrency transactions. He contends that these rules are in conflict with several US laws and the Constitution, and they do not align with the traditional scope of bank transfers.

JPMorgan Coin is a stablecoin designed to maintain a 1:1 peg with the U.S. dollar, offering stability and efficiency in transactions.

Telecommunications company Deutsche Telekom MMS has joined the MultiversX blockchain as a validator, responsible for verifying transactions, generating new blocks, and enhancing user security.

Several Japanese companies are gearing up to introduce DCJPY, a digital currency pegged to the Japanese yen, aimed at facilitating transactions involving clean energy certificates.