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ICC Securities Watchdog To Help Regulate Cryptocurrency - Here's What It Says
24.5.2023
With a number of securities regulators across the world developing new rules for the crypto industry, the International Organization of Securities Commissions (IOSCO) aims to contribute to the ongoing discussion by releasing its own batch of crypto-focused policy recommendations. ...
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Red Swan CRE delivers token studio on Hedera
24.5.2023
Red Swan CRE takes an immense amount of pleasure in coming out with its official announcement regarding the deliverance of its token studio on Hedera. Incidentally, Red Swan CRE is basically a commercial real estate organization having $5 billion in Assets Under management (AUM). The token studio...
Japanese Gov’t Green-lights Travel Rule Adoption – Are Crypto Exchanges Struggling to Comply?
24.5.2023
The Japanese government has approved the adoption of the Travel Rule, with a new law set to come into force next month.
But domestic exchanges are experiencing difficulty with adoption, leading to crypto withdrawal difficulties.
Per Sankei News, the cabinet of ministers has signed off on...
Reuters Says They Stand by Its Reporting On Binance Commingling Customer Funds
24.5.2023
Reuters says it stands by its reporting following criticism it received from a Binance executive on its story that said the world’s largest crypto exchange commingled customer funds.
In a story published on Tuesday, Reuters reporters said that Binance commingled customer funds with company...
Coinbase Asks the Court To Step In To Get Answers on Its Rulemaking Petition
23.5.2023
Cryptocurrency exchange Coinbase called on a court to issue a “writ of mandamus” telling the US Securities and Exchange Commission to respond to its rulemaking petition within seven days.
A mandamus “is warranted because the SEC has made up its mind to deny Coinbase’s petition,” the exchange said...
Binance Denies Reuters Report That It Commingled Customer Funds
23.5.2023
Binance is pushing back against a Reuters report that said the world’s largest cryptocurrency exchange commingled customer funds with company revenue in 2020 and 2021.
Binance Chief Communications Officer Patrick Hillmann called the story “weak,” in a five paragraph tweet on Tuesday....
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Bitget Restricts Use of AI Tools Following Troubling Results and Negative User Experiences
23.5.2023
Crypto derivatives exchange Bitget has decided to limit how much it uses artificial intelligence (AI) tools like ChatGPT due to the potential for misinformation.
According to the exchange, problematic results, including false information about crypto-related topics, have come from the use...
Global Standard Setter Recommends More Investor Protection Following Turmoil Over the Past Year
23.5.2023
The International Organization of Securities Commissions called for more consistency and protection for retail investors following turmoil over the past year in its newly drafted cryptocurrency recommendations.
IOSCO, which has members that regulate more than 95 percent of the world’s securities...
Baidu Ai Chatbot Raises Questions With Its Claim of 'improved' Communication
23.5.2023
Chinese-based multinational tech firm Baidu recently unveiled its latest AI chatbot, with intriguing claims about its capabilities.
According to Baidu, the new chatbot can communicate with zero errors on sensitive topics.
However, Baidu’s claims raise questions, given the extent of...
UK Parliament's Treasury Committee Calls for Cryptocurrency Regulation, Citing Gambling-Like Risks
23.5.2023
The UK Parliament’s Treasury Committee has called for unbacked cryptocurrencies to be regulated in the same way as gambling, saying speculation in these assets “more closely resembles gambling than it does a financial service.”
“Regardless of the regulatory regime, their price volatility...
TON Foundation Launches $25 Million Accelerator Program for Emerging Crypto Projects
23.5.2023
The TON Foundation, the entity which runs The Open Network (TON) blockchain, has unveiled a new accelerator program for emerging projects, allocating up to $25 million for supported projects this year.
"The funding, which is provided by Toncoin Fund, a $250 million ecosystem fund dedicated...
Republican Tim Scott Announces His Run for President — How Could That Affect Crypto?
23.5.2023
Republican Sen. Tim Scott, who could be an influential player in the cryptocurrency industry, announced his run for US president on Monday.
The South Carolina lawmaker formally announced his run on Twitter as a crowd gathered in Charleston, South Carolina.
Scott joins other candidates, including...
Ukraine’s Anti-corruption Bureau Unveils Plan to Fight ‘Crypto Corruption’
23.5.2023
Ukraine’s anti-corruption bureau has stated that it is probing the crypto sector to unmask money launderers.
In an official National Anti-corruption Bureau of Ukraine (NABU) release, the regulator said that it was teaming up with the United States Embassy for the drive.
The NABU said that...
BlockFi Sent Out Reorganization Plan ‘Prematurely,’ Court Orders Them Withdrawn
23.5.2023
Bankruptcy cryptocurrency lender BlockFi took back statements it made earlier this month about a plan to reorganize which it said was done “prematurely.”
BlockFi released a “corrective letter to creditors” on Friday, directed by the court, asking them to disregard certain statements posted to...
Crypto Exchange Coinbase Launches TV Campaign in Washington DC
22.5.2023
Cryptocurrency exchange Coinbase is honing in on Washington DC with a new TV campaign set to launch this week promoting the future of crypto amid its own fight with US regulators.
In a black and white and almost two-minute long video, CEO Brian Armstrong lays out the benefits of crypto and calls...
Malaysia Regulator Orders Crypto Exchange Huobi Global Limited To Stop Operations
22.5.2023
Cryptocurrency exchange Huobi Global Limited has to stop operations in Malaysia after its regulator found it was operating without being registered.
The Securities Commission Malaysia on Monday said the exchange has to disable its website and mobile apps on platforms including the Apple Store...
South Korean Prosecutors Buy Blockchain Analytics Tools in Bid to Bust ‘Crypto Money Laundering’
22.5.2023
South Korea’s prosecution service will buy new blockchain analytics software – and wants to use it to catch people laundering crypto overseas.
Per the domestic media outlet Economist, the new tools will be used to apply the same level of scrutiny to overseas exchanges as is currently applied...
Ripple Adds Nielsen CFO to Its Board of Directors
20.5.2023
Ripple is bringing on the chief financial officer of market researcher Nielsen to its board of directors, the crypto firm announced on Friday.
Warren Jenson was added to the board and was also appointed as Ripple’s chair of the audit committee, overseeing the auditing process of Ripple’s...
South Korean Justice Ministry Hits Out at Claims it ‘Refused to Say’ if Minister Owns Crypto
20.5.2023
South Korea’s Justice Ministry has hit out at claims that Minister Han Dong-hoon “refused to disclose information” about whether or not he owns crypto.
Per the media outlet Newsis, the ministry claimed that “the cryptoasset holding status of public officials who work with cryptoasset [regulation]”...
Bankrupt Crypto Firm Celsius May Receive Second Chance from Wall Street
19.5.2023
The now-bankrupt crypto lender Celsius Network may get a second chance with the help of Wall Street investment giants.
According to a Wall Street Journal article from Thursday, two groups of investment heavyweights are currently engaged in a bidding war for what remains of Celsius, close to a year...