US Authorities To Announce Enforcement Action Against International Crypto Entity – January 18

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Bitcoin price has erased some of its recent gains, as concern spreads surrounding the international enforcement action to take place at noon.

Top-20 altcoins are mostly down over the last 24 hours too, as Ethereum falls 3%, BNB drops 5% and Solana tumbles 11%.

Top Stories for January 18, 2022 🔥

👉 US Authorities To Announce Enforcement Action Against International Crypto Entity

U.S. authorities, including the FBI, OFAC, FinCEN, and the Eastern District of New York, plan to announce an enforcement action against an international crypto entity at noon ET today.

The combination of agencies suggests both criminal and civil interests, with OFAC administering U.S. sanctions and FinCEN collecting reports from financial institutions to monitor for suspicious transactions.

👉 Coinbase To Halt Operations In Japan

Crypto exchange giant Coinbase is halting its operations in Japan, citing “market conditions”. Customers have until Feb. 16 to withdraw their fiat and crypto holdings from the exchange, and fiat deposits will be halted on Friday.

Coinbase entered the Japanese market after completing registration with the country’s Financial Services Agency in June 2021. The move follows rival exchange Kraken, which ended its operations in Japan at the end of last year.

Last week, Coinbase announced it is cutting around 20% of its workforce as part of its restructuring. The stock has risen 56% since the start of the year after dropping more than 80% in 2022.

👉 EU Postpones Final Vote On MiCA Once Again, Citing Transalation Issues

The final vote on the European Union’s Markets in Crypto Assets (MiCA) regulation, which sets guidelines for the operation, structure, and governance of issuers of digital asset tokens, has been deferred to April 2023.

It is the second delay of the final vote, which was previously postponed from November 2022 to February 2023. The delay is due to a technical issue, where the official 400-page document couldn’t be translated into the 24 official languages of the EU.

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