Hong Kong Securities Regulator Bans Crypto “Gifts” to Encourage Retail Investments. Hong Kong’s Securities and Futures Commission (SFC) to Start Accepting Crypto Trading Platform License Applications from June 1 The Securities and Futures Commission (SFC) has agreed to permit licensed virtual asset providers to cater to retail investors, as long as operators assess their understanding…
Bank of America predicts low trading activity and less participation from individual investors in the crypto market. According to a recent report by Bank of America (BAC), the potential for significant growth in cryptocurrency markets is limited in the near future. In simpler terms, analysts Alkesh Shah and Andrew Moss from Bank of America (BAC)…
Cryptocurrency exchange Bitget Obtains Licensing in Lithuania for its Operations. Cryptocurrency exchange Bitget is now officially registered as a virtual asset service provider (VASP) in Poland, according to an announcement made on May 23. This regulatory license permits Bitget to conduct its operations within the Polish market in compliance with the law. Earlier in April,…
Warning: Beware of Fake Job Ads Targeting Crypto Enthusiasts – Scammers Tricking Job Seekers into Participating in Cryptocurrency Fraud FBI Warns of Scam Crypto Job Ad Targeting US Citizens – Beware of Fraudulent Employment Offers. Beware of Fake Crypto Job Ads Targeting US Citizens, Warns FBI – Stay Alert to Avoid Deceptive Employment Offers. On May…
South Korea’s biggest cryptocurrency exchange, Upbit, has lifted its warning and now permits trading for these alternative cryptocurrencies. Good news for investors in KAVA and WAVES on Upbit, South Korea’s largest cryptocurrency exchange. Upbit, a popular cryptocurrency exchange in South Korea, has lifted its warnings for altcoins KAVA and WAVES. Upbit, along with other South…
The newly appointed CEO of FTX has been having several meetings in the past month to revive the unsuccessful cryptocurrency exchange. They are actively participating in a bidding process to relaunch the exchange. The bankrupt crypto exchange FTX is making progress towards its revival under the leadership of new CEO John Ray III. According to…
Hong Kong’s securities watchdog introduces new plans to let regular investors access virtual assets platform. Hong Kong‘s Securities and Futures Commission (SFC) to Permit Licensed Platforms for Retail Investors On May 23, the SFC made an announcement stating that operators of virtual asset trading platforms can apply for a license if they are willing to…
Developers have assured that all funds are secure, and they are currently working on a governance proposal to fix the problematic strategy. Certain users of Aave version 2 (V2) are currently facing a temporary issue where they cannot access their funds on the Polygon blockchain. This problem arose when a flawed bug was introduced in…
OKX has submitted an application for a license as a Digital Asset Service Provider, joining many other companies that have already been approved. OKX, a cryptocurrency exchange, aims to make France its main center in Europe and intends to hire approximately 100 employees in the country over the next three years. They are seeking approval…
Bitcoin of America was told by the Department of Banking that they did not get the necessary license to run Bitcoin ATM machines in Connecticut. Bitcoin ATM provider Bitcoin of America agreed with the Connecticut Department of Banking to stop its operations because they didn’t have the right license. As a result, the prices of…
Coinbase Launches National Ad Campaign to Promote Crypto’s Role in Financial Innovation Coinbase recently announced its upcoming campaign called “Moving America Forward” in a blog post on May 22. The campaign will begin with a series of four advertisements featuring Coinbase CEO Brian Armstrong. These ads are scheduled to be shown primarily during popular Sunday…
According to an analyst from Ark Invest, the cryptocurrency ecosystem in the United States is lacking established and trustworthy institutions, creating a significant gap. Ark Invest analyst Yassine Elmandjra cautions that the United States is at risk of falling behind countries like the United Arab Emirates, Korea, Australia, and Switzerland in the cryptocurrency race. ▪️Regulatory…
Strike, the Bitcoin payments app, now supports Tether’s USDT stablecoin, enabling users to easily buy, sell, and transact with USDT within the app. The popular global money app, Strike, has added Tether (USDT) to its platform. Strike is known for its fast and secure payment solutions and has now integrated USDT, a digital currency, to…
A U.S. court in charge of bankruptcy ordered the estate to send a letter stating that a disclosure made on May 13 was not authorized. They were also instructed not to ask for support for the restructuring plan. Bankrupt crypto lender BlockFi has retracted statements about a plan to close down, which were published on…
BitMEX has launched a special app called BitMEX Hong Kong specifically for users in Hong Kong who follow the Virtual Asset Service Provider (VASP) regulations. BitMEX has officially introduced BitMEX Hong Kong, a specialized service designed to comply with the upcoming regulations for Virtual Asset Service Providers (VASP) in Hong Kong. This new service will…
Over the past month, the overall crypto markets have been declining, with a significant drop in the first week of May. During this time, the price of bitcoin (BTC) started decreasing from its recent high of around $30,000 at the end of April. On May 12, the price of bitcoin experienced a significant drop, reaching…
Gemini intends to submit a new request to the court to reclaim $1.1 billion worth of digital assets from Genesis, which is owned by DCG. Gemini, the cryptocurrency exchange facing difficulties, is thinking about using forbearance against Digital Currency Group (DCG). DCG failed to make a repayment of $630 million last week. When a lender…
Hotbit stated that centralized exchanges are becoming more complicated and emphasized that they are unlikely to align with long-term trends. Hotbit, a cryptocurrency exchange, announced that it will stop its operations starting from May 22. The exchange has requested its users to withdraw their funds before June 21, at 4:00 am UTC. In a statement,…
US President Joe Biden is focusing on crypto investors and stated that he will not support any deal that shields wealthy tax evaders and crypto traders. During the G7 summit, President Joe Biden mentioned that prior to his departure, he had discussions with all four congressional leaders. They reached a consensus that the only viable…
Crypto wallet MetaMask is facing criticism from the crypto community after revealing its new terms of service, which state that it has the ability to hold back consumer funds for tax payments. The new terms and conditions of crypto wallet MetaMask are causing confusion and surprise within the community. According to the new terms, if…
Binance, the biggest crypto exchange globally, experienced a significant 34% decrease in trading volume in the past 24 hours, dropping to $3.3 billion. The financial market is uncertain and waiting due to a delay in important discussions between U.S. President Joe Biden and House of Representatives Republicans, led by Kevin McCarthy. While the global crypto…
OFAC (Office of Foreign Assets Control) stated on Friday that an Irish person assisted wealthy individuals from Russia in evading sanctions and concealing their money in the United Arab Emirates (UAE). In simpler terms, according to OFAC, an Irish national helped rich Russians avoid sanctions and keep their money hidden in the UAE. The Office…
A new bipartisan effort, led by lawmakers Tom Emmer and Darren Soto, aims to address legal disputes between the SEC and crypto organizations by reintroducing the Securities Clarity Act. The Securities Clarity Act, first introduced in 2020, seeks to establish clear distinctions between commodities and securities, improving regulatory laws related to digital assets. Emmer believes…
Coinbase praises Canada’s approach to cryptocurrencies, which includes making PRU (Product Regulatory Framework) mandatory. This move has resulted in Binance leaving the country. Coinbase, a well-known cryptocurrency exchange, has expressed its approval of Canada’s approach. They appreciate the country’s clear regulations and the opportunity for companies to collaborate with regulators. On the other hand, Coinbase…
Binance Stops AUD Fiat Services in Australia, Despite the Country’s Crypto-Friendly Reputation. Cuscal, the payments provider for Binance Australia, indicated that the choice to halt its services was influenced by concerns related to scams and fraud. These concerns are associated with activities like account fraud, identity theft, and cryptocurrency transactions. In an unexpected development, Binance…
The company wants to take advantage of Hong Kong’s renewed potential as a crypto hub, as the city works on creating clear rules for digital assets. According to a report from Bloomberg on Friday, HashKey Group, a company that provides financial services for digital assets, is planning to raise funds with a valuation of $1…
Coinbase Cloud, the cloud services division of the popular crypto exchange, has teamed up with Chainlink Network to strengthen its involvement in the decentralized space. In their collaboration, Coinbase Cloud will take on the role of a node operator, utilizing their expertise and infrastructure to support the operations of the Chainlink Network. This partnership aims…
Binance Australia faces deposit issues due to a payment provider’s decision. Users cannot use PayID AUD deposits for now. Binance is searching for a solution. Meanwhile, users can use credit or debit cards for crypto transactions. The service provider executive warns about scammers using foreign exchanges. Binance Australia Seeks New Payment Provider: Binance Australia temporarily…
Custodia Bank has not yet launched its Bitcoin custody service. Custodia Bank is currently not offering its Bitcoin custody service. During a Bitcoin 2023 panel, prominent figures such as Caitlin Long, the CEO of Custodia Bank, and Dylan LeClair, the Head of Market Research at Bitcoin Magazine, among others, made appearances. Caitlin Long specifically shared…
“Coinbase Enables USDC Trading and Offers Rewards for Holding” Coinbase, a popular cryptocurrency exchange, has announced an upcoming feature that will allow users to trade using USDC. This feature will provide faster trading and a more rewarding experience for users. More USDC trading pairs means a faster and more rewarding Advanced Trade experience. See what…
Ripple CEO, Brad Garlinghouse, expressed concern that unclear regulations in the United States are causing cryptocurrency companies to leave the country. Ripple CEO, Brad Garlinghouse, stated that the unclear regulations in the US will lead to more cryptocurrency companies relocating away from the country. This is because firms like Ripple are actively seeking opportunities for…
Visa tests Ethereum Account Abstraction and ERC-4337 for crypto payments using two Paymaster contracts on the Goerli testnet. Visa, a major payments company, is actively exploring digital asset payments and innovative technologies to make crypto transactions easier and more seamless. After studying Account Abstraction for secure automatic recurring payments on self-custodial wallets, Visa is now…
Bitgert Aims to Revolutionize Real Estate Deals Bitgert Releases Video Showcasing Marketplace Interface People have been wanting changes in the real estate industry for a while now. The traditional way of buying and selling properties can be slow and expensive. A new marketplace called Bitgert Geo Web3 Real Estate Marketplace has emerged, offering a decentralized…
Render Token (RNDR) Leads in Price Surge as Crypto Market Shows Signs of Recovery The total value of the global cryptocurrency market has been unstable in the past month. On May 12, it reached a low point of $1.09 trillion. However, just three days later, it made a recovery and rose to nearly $1.15 trillion,…
Binance Partners with TradingView for Enhanced Trading Experience The biggest cryptocurrency exchange in the world, Binance, continues to introduce new ideas and advancements in the crypto industry. Binance has announced its integration with the widely-used data and analysis platform TradingView, making it convenient for users to trade cryptocurrencies. Binance has made it possible for…
Singapore’s Prominent Family Firm, Whampoa Group, Plans to Establish Cryptocurrency Bank Whampoa Group, a top multi-family company in Singapore, intends to set up a cryptocurrency bank in Bahrain. The bank will offer round-the-clock payment and settlement services for digital asset businesses. Whampoa Group Establishes Cryptocurrency Bank in Bahrain Whampoa Group plans to launch a cryptocurrency…
The company will also demonstrate a product that allows real estate assets to be converted into digital tokens as part of Hong Kong Monetary Authority’s e-HKD pilot program. Users can manage and customize the entire life cycle of the CBDC, including minting, distribution, redemption and destruction. (Ripple Labs) Ripple is launching a platform that enables…
Head of Global Financial Crimes Watchdog Urges G-7 Leaders to Implement Anti-Money Laundering Rules for Cryptocurrency. The president of the global financial crimes watchdog has called on the advanced economies of the Group of Seven (G-7) to lead the way in fighting against illegal financial activities in the cryptocurrency space. This can be achieved by…
The Finance Minister and officials from the central bank of the country expressed unfavorable views on cryptocurrencies during their statements to the press. During a statement to the press, Pakistani Finance Minister Aisha Ghaus Pasha made a series of remarks regarding cryptocurrencies. The minister firmly stated that digital assets would never be deemed legal within…
Over the last 24 hours, NFT transactions amounted to approximately $2 million in value. Buys and sells of Bitcoin Frogs-source: (CryptoSlam) Bitcoin Frogs, a recently introduced collection of non-fungible tokens (NFTs) featuring frog designs, has emerged as the most-traded collection in the last 24 hours. It has surpassed popular collections like Bored Apes in terms…
The purpose of the discussion was to enhance decentralization within the dYdX ecosystem in preparation for its v4 upgrade. DYdX, the decentralized platform famous for its perpetual contracts, is currently exploring the idea of establishing additional subDAOs to further decentralize the management of its ecosystem. A recent post by Fox Labs Digital, an Australian marketing…
Binance Australia reassures users, says they’re actively searching for a new option to keep AUD deposits and withdrawals available. Binance Australia, the Australian branch of the largest cryptocurrency exchange, announced on Thursday that it has temporarily suspended its services involving the Australian dollar (AUD). They explained that this decision was prompted by actions taken by…
Metaco will keep working independently with its own team, led by CEO and founder Adrien Treccani. Ripple, a blockchain company, has bought a Swiss crypto storage company called Metaco for $250 million, according to a statement released on Wednesday. By acquiring Metaco, Ripple will be able to expand its services and use their technology to…
Coinbase Expands Globally Amid SEC Crackdown, Receives Singapore MAS Clearance. Following the SEC’s denial to provide clarity on crypto regulations, Coinbase is considering Singapore as a new focus. Due to the unclear cryptocurrency laws in the US, CEO Brian Armstrong is exploring the possibility of relocating the company’s headquarters to the Bahamas, the United Arab…
Gruenberg Raises Concerns about Crypto in Prudential Regulators Hearing Former SVB CEO Attributes Failures to Rising Interest Rates The failure of Signature Bank was primarily attributed to inadequate management and insufficient liquidity. FDIC Chairman Martin Gruenberg, however, believes that the bank should have been more aware of the risks associated with cryptocurrencies, as it could…
UK Treasury Committee Comprised of Parliament Members. Cryptocurrency Gaming Winnings to Face Highest Tax Rate. A UK regulatory group, the Treasury Select Committee, composed of members of Parliament, has released a report stating that unbacked cryptocurrencies like Bitcoin (BTC) should be treated as gambling for retail investors. The committee “strongly recommends” adopting this approach in…
Feeless ETH opens new possibilities. Crypto community anticipates feeless ETH launch. A revolutionary development in crypto transactions has arrived. A new way to buy and sell Ethereum (ETH) has emerged, offering a remarkable feature – no fees. This innovation has the potential to transform how people interact with and use this popular cryptocurrency. ETH with…
A little over half of the companies included in the survey participated by offering either complete or partial responses. Coinbase, Circle, and Ripple have confirmed that they undergo yearly audits conducted by Deloitte. According to reports, Bloomberg News conducted a survey involving 60 popular cryptocurrency companies. The survey included various types of entities such as…
The EU’s Council has given its final approval to the groundbreaking regulation called “Markets in Crypto Assets.” Additionally, they have agreed on a new law to share information about taxes on cryptocurrency holdings. On Tuesday, the finance ministers of the European Union (EU) approved significant new rules for cryptocurrencies. These rules are considered a major…
Polygon Co-founder Highlights Top Active Wallets for ERC-4337. Polygon Records 4,000 Active Wallets in April, Revealing Growing User Engagement. Polygon Co-founder Sandeep Nailwal Shares Yearly Nifty Chart for Ethereum’s ERC-4337 Wallets, Providing Monthly Insights. https://twitter.com/sandeepnailwal/status/1658184083690643464 The ERC-4337 (also known as EIP-4337) operates on the Polygon blockchain and offers developers the ability to achieve account abstraction….