Connect with us

Business

Nepal to fight crypto fraud with public awareness, transaction monitoring

Published

on

Nepal’s Financial Information Unit (FIU) is stepping up efforts to combat cryptocurrency-related fraud by increasing awareness and implementing stricter regulations. The FIU, which operates under Nepal’s central bank, has expressed concern over the growing number of fraudulent schemes involving digital currencies and their impact on investors. In response, the unit is focusing on educating the public about the risks associated with crypto investments and promoting better regulatory practices to protect consumers from scams.

Despite cryptocurrencies being banned in Nepal since 2017, the country has seen a rise in illegal trading and fraudulent activities tied to digital assets. The FIU is particularly concerned about the proliferation of unregistered platforms and fraudulent schemes that promise high returns on crypto investments. Many of these scams have led to significant financial losses, prompting the FIU to urge Nepali citizens to be cautious and avoid engaging with unregulated crypto services.

To address these challenges, the FIU is collaborating with local law enforcement and international agencies to improve monitoring of crypto-related activities and enhance its regulatory framework. The agency aims to strengthen its oversight of financial transactions and identify potential risks in the rapidly evolving digital asset space. By enforcing stricter regulations, the FIU hopes to create a safer environment for those involved in legitimate cryptocurrency transactions while curbing the activities of fraudsters.

The growing focus on cryptocurrency fraud in Nepal highlights a broader global trend as regulators worldwide grapple with how to address the risks associated with digital currencies. While Nepal has yet to legalize cryptocurrency trading, the FIU’s push for increased awareness and tighter regulations could signal a shift in the country’s approach to managing digital asset risks. As the cryptocurrency space continues to grow, authorities in Nepal are likely to face ongoing challenges in balancing innovation with consumer protection.

News

Binance launches in Syria after Trump lifts sanctions

Published

on

Binance has signaled interest in expanding its services to Syria following a recent move by former U.S. President Donald Trump to lift certain economic sanctions. The easing of restrictions has opened the door for global businesses, including cryptocurrency platforms, to re-evaluate their presence in the region.

A Binance spokesperson confirmed that the company is exploring opportunities in Syria and may extend support to local users. The development marks a potential shift in crypto accessibility for a country that has long faced economic isolation due to international sanctions.

Although no formal launch has been announced, the move suggests that Binance is preparing to tap into an underserved market. The company emphasized that it will continue to monitor regulatory guidelines while assessing how best to engage Syrian users within legal frameworks.

The renewed interest in Syria reflects broader efforts by crypto firms to expand globally amid shifting geopolitical and regulatory dynamics. If Binance proceeds, it could become one of the first major crypto platforms to reenter the Syrian market in years.

Continue Reading

Business

GameStop plunges 12% after proposing new $1.75B debt offering

Published

on

GameStop’s stock dropped 11% after the company revealed plans to offer $2.14 billion in convertible notes, sparking investor concerns about potential dilution. The market reacted sharply to the move, which could lead to an increased share count if noteholders opt to convert their holdings into equity.

The company stated that the proceeds will be used for general corporate purposes, which may include acquisitions and investments. Convertible notes provide flexibility for companies, but often trigger negative investor sentiment due to the future possibility of share dilution.

The timing of the announcement came just as GameStop was enjoying renewed attention from retail investors, particularly following the reappearance of “Roaring Kitty,” a central figure in the 2021 meme stock frenzy. That momentum was quickly undercut by fears surrounding the fundraising effort.

GameStop’s latest financial strategy highlights its continued attempts to adapt and remain relevant in a changing retail landscape. However, the negative market reaction reflects ongoing uncertainty over the company’s ability to convert hype into sustained performance.

Continue Reading

Business

Peaq and UAE bet on tokenized machines to power future economy

Published

on

The United Arab Emirates has introduced a new regulatory sandbox dedicated to advancing the machine economy, in collaboration with blockchain network peaq and Web3 data platform Pulsar. The initiative is backed by the country’s Artificial Intelligence, Digital Economy and Remote Work Applications Office and is aimed at supporting decentralized physical infrastructure networks (DePINs).

The sandbox offers a controlled environment where projects involving autonomous vehicles, delivery drones, and smart city applications can be tested and scaled. Developers will be able to deploy real-world use cases involving connected devices while benefiting from regulatory guidance and technical support.

Participants in the program will receive resources such as funding opportunities, mentorship, and access to strategic partners, enabling them to refine and expand their technologies. The initiative reflects the UAE’s continued efforts to lead in Web3 innovation, artificial intelligence, and future-driven economic models.

By fostering projects that combine AI, blockchain, and IoT, the UAE seeks to attract global startups to build the foundations of a decentralized machine economy. The sandbox is expected to drive real-world adoption of DePIN technologies across transport, infrastructure, and smart services sectors.

Continue Reading

Trending

Copyright © 2025 cryptonews.lk