Clams(CLAM)

Several meme coins have shed huge losses amid the latest clampdown, but Dogwihat WIF has managed to regain strength today – leading the market’s top gainer chart with a 25% gain in the past 24 hours. It looks a bit strong. The leading Solana-based meme coin – WIF started this […]

The surge occurred as U.S. federal prosecutors charged the exchange and two of its founders with violating anti-money laundering laws on Tuesday.

Bonk is currently in the red following over 20% loss since yesterday. It appeared weak and now bleeding on the day. However, the price is approaching a key level, where a potential rebound is likely. The latest clampdown has positioned most meme coins in a downward range while bringing them […]

Despite this week’s crypto clampdown, Ray showed strength and continued to rally upward. It flipped through a key resistance to test a new high yesterday but faced rejection and is now looking for a retest.  Solana-based automated market maker – Raydium started this month a bit rough after managing to […]

Cardano’s ADA price looks set for a fresh drop following recent price rejections. It has posted some notable losses over the past days as it looks poise for a serious clampdown. Following an unexpected price movement this week, ADA has seen a noticeable reduction and at the same time showing […]

New rules from the SEC and FCC, and the former’s own SIM swap incident, are likely to raise scrutiny on crypto firms to clamp down on a scourge of identity-hacks, says Andrew Adams, partner at Steptoe.

The Biden administration recently put out an emergency edict which requires all bitcoin mining operations in the United States to submit full data on their electricity usage. US grid stability is cited as the reason.

Shiba Inu entered this week at a loss and further dipped to a new multi-week low. It sharply rejected that price level and climbed back to the $0.0000088 level, where it remained stagnant since Wednesday. After plunging to $0.0000083 earlier this month, Shiba rapidly rejected the price level and made […]

The crypto market has been on an upswing in the past 24 hours, with major altcoins like Solana (SOL) and Avalanche (AVAX) seeing double-digit gains. Meanwhile, hot new crypto presale Bitcoin Minetrix (BTCMTX) has just hit the $7.8 million funding milestone, with investors clamoring to get involved while the token price is so low. Solana […]

In a bold proclamation as 2023 comes to a close, MicroStrategy founder Michael Saylor has declared Bitcoin as "this year's winner."

Bitcoin is trading at levels previously seen in April 2022, shrugging off a tough year marked by several implosions and regulatory clampdowns.

The innovative new platform Bitcoin Minetrix (BTCMTX) has raised over $4 million on presale as investors clamor to get involved before the token hits the open market. This hot new Stake-to-Mine platform allows users to earn BTC rewards passively – and is already being touted as the next 10x token in the presale space. Exploring […]

Bullish Bitcoin investors are cheering the digital asset’s reclamation of a perch above $30,000 in recent days, but the rally back above that threshold only served to buoy bold predictions that the world’s largest and oldest crypto will hit six figures in the near future.

Crypto investors and their brokerages are waiting for a U.S. tax rule that will completely overhaul how they report their cryptocurrency taxes, but the government isn’t offering any straight answers about its holdup even as prominent lawmakers clamor for the Treasury Department to finish the job.

Figure Technologies, Inc., has pulled its application to become a federally chartered bank in the U.S., ending a three-year rollercoaster ride as regulators clamped down on crypto activity and digital assets banking suffered a black eye when regional lenders associated with the tech world cratered earlier this year.

The United States Senate has passed an $886 billion military spending bill with strict anti-money laundering provisions for cryptocurrency. U.S. Senate Takes a Stand on Crypto On Thursday, the U.S. Senate made a significant move by passing the 2024 National Defense Authorization Act (NDAA), a $886 billion military spending bill that contains a provision that will significantly affect the crypto industry. Spearheaded by senators Kirsten Gillibrand, Cynthia Lummis, Elizabeth Warren, and Roger Marshall, the amendment aims to tighten oversight of financial institutions involved in crypto trading and clamp down on the use of crypto mixers and "anonymity-enhancing" assets. The senators hailed it as a substantial step in regulating crypto assets. Merging Existing Acts The amendment draws from two existing acts already presented earlier to the Senate. Elements from the 2023 Lummis-Gillibrand Responsible Financial Innovation Act and portions of Senator Warren’s and Senator Marshall’s Digital Asset Anti-Money Laundering Act, introduced in 2022, have been integrated into the bill. These additions mandate the Secretary of the Treasury to establish examination standards for crypto assets, helping with risk assessment and ensuring compliance with money laundering and sanctions laws. Furthermore, the Treasury Department will be required to conduct a study on countering anonymous crypto transactions, specifically targeting the use of mixers to obscure fund origins. Customary Approach To Legislation The inclusion of crypto-related provisions in a military bill may raise eyebrows. However, the practice of adding non-defense-related amendments to military bills is not uncommon. Furthermore, the senators have defended this move by highlighting the importance of combating illicit finance within the crypto industry. Senator Lummis emphasizes that this measure is crucial for identifying and rooting out bad actors in the sector. Additionally, the bill aims to address concerns related to national security, ensuring that crypto assets are not exploited to evade sanctions or fund terrorist activities. As the House has already passed its version of the NDAA, both chambers will now enter negotiations to reconcile differences and reach a consensus on the final version of the bill. This process is essential for the legislation's passage and enactment. Broader Regulatory Initiatives In conjunction with the NDAA, other congressional committees have also taken steps to address the regulatory challenges posed by the crypto industry. The House Agriculture Committee recently advanced the Financial Innovation Technology for the 21st Century Act to establish a federal regulatory framework for cryptocurrencies in the United States. The House Financial Services Committee passed its version a day earlier, focusing on establishing clear criteria for classifying crypto assets as securities or commodities. As the House and Senate continue their negotiations, the outcome will determine the extent of regulatory measures imposed on the crypto sector and its impact on financial institutions and traders alike. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Kuwait’s government has hardened its stance against cryptocurrencies, prohibiting the use of digital assets for payments or investments in a bid to clamp down on money laundering and terrorist financing.

Recently, crypto experts and analysts have raised questions on whether Polygon (MATIC) price could plummet to zero amidst the SEC's tightening regulations on the crypto industry. Amidst the uncertainty, seize the opportunity to participate in Uwerx presale bonuses, offering enticing rewards for early investors. This article provides a comprehensive overview to help you navigate the evolving crypto community and make informed investment decisions. Polygon (MATIC) Price Prediction Polygon (MATIC) is a crypto and blockchain platform built on top of the Ethereum (ETH) network. Polygon (MATIC) aims to address the limitations of the Ethereum blockchain by providing faster transaction processing and lower fees. Polygon (MATIC) achieves this through a combination of technologies, including sidechains, plasma chains, and a decentralized network of validators. Polygon (MATIC) holds a value of $0.6339, boasting a market capitalization of $6B and a 24-hour trading volume of $552M. Market experts project a promising trajectory for Polygon (MATIC), anticipating a rise to $2.05 by the first quarter of 2025. Disrupting the Industry: Uwerx's (WERX) Low Transaction Fee Sets it Apart from Traditional Platforms. Uwerx is revolutionizing the freelancer marketplace with its array of innovative features. One notable highlight is its customized matching system, which optimizes connections between freelancers and clients based on their specific requirements, skills, and budget. Upon its launch on centralized exchanges, Uwerx plans to renounce contracts, cementing its disruptive approach. A significant aspect of this disruption is the platform's transaction fee, set at a mere 1%. This starkly contrasts the excessive charges imposed by traditional platforms like Upwork and Fiverr, making Uwerx a highly appealing choice for freelancers and clients. Its latest feature—the Uwerx Vault—adds another layer of innovation for token holders. Users can earn rewards based on platform variables by staking their WERX tokens in the vault, enhancing their engagement and potential benefits. Uwerx prioritizes security and reliability, evident in the rigorous audits conducted by reputable firms such as SolidProof and InterFi Network. These audits provide users with a sense of confidence and trust in the platform's integrity. Uwerx's achievements have garnered recognition, leading to its listing on CoinSniper. Moreover, it is set to be listed on Uniswap, a major decentralized exchange, on August 1st. These listings further enhance Uwerx's accessibility, liquidity, and overall standing in the crypto market. Uwerx (WERX) Test Airdrop and Long-Term Stability Measures: Exciting Opportunities and Trust for Token Holders Uwerx recently launched the initial version of its Alpha platform, providing users with a glimpse into its functionality and user experience. The platform is now preparing to transition from Alpha to the eagerly awaited Beta phase, bringing further improvements and enhanced features for a smoother user journey. Uwerx has made a comprehensive update available as a PDF document to demonstrate its commitment to transparency and user support. This update covers essential aspects such as sign-up, login, password recovery, freelancer and client roles, job creation, talent discovery, and key pages like activity tracking and the hiring dashboard. Uwerx's progress in shaping the future of freelancing is undeniable, driven by innovation, lower fees, and user-centric features. The platform highly values user feedback, encouraging individuals to share their insights at [email protected] to actively contribute to its evolution. Exciting times lie ahead as Uwerx prepares for a Test Airdrop scheduled at the end of the presale on July 31st. This presents an excellent opportunity for participants to experience the platform's capabilities personally. To ensure stability and trust for token holders, Uwerx has implemented a nine-month lock on team tokens and plans to extend the token liquidity lock for 25 years after the presale. These long-term commitments showcase Uwerx's dedication to maintaining a secure and reliable environment. The rapid growth of the Uwerx platform, with over 5,500 sign-ups and a substantial presence on Twitter and Telegram, reflects its appeal to freelancers and clients seeking cutting-edge solutions. Uwerx (WERX) Presale Success: Breaking Records and Reaching New Heights Uwerx achieved outstanding success during its presale by swiftly completing stages 1 to 4. In the Stage 5 presale, Uwerx tokens are available at an attractive price of $0.047725 per token, accompanied by a tempting 15% bonus on each purchase. The price is set to rise to $0.05245 on Monday, July 10th at 18:00 UTC. This week, there will be a release of a clickable prototype for the presale, which will include pages for freelancer registration and client registration. Furthermore, the Uwerx Vault feature will be unveiled next week, and a poll will be conducted to determine the date of the test airdrop. This presents a remarkable opportunity to acquire tokens at a favorable value. Market analysts anticipate a promising trajectory for Uwerx, projecting a price of $1.33 by Q4 2023. Remaining responsive to community demands, the Uwerx team demonstrates flexibility by adjusting token allocations in light of the rapid speed of the presale. Don’t Miss Out on the 15% Bonus; Buy WERX tokens today: Presale: invest.uwerx.network Telegram: https://t.me/uwerx_network Twitter: https://twitter.com/uwerx_network Website: https://www.uwerx.network/ Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Despite the ban, crypto users are skeptical about Belarus' ability to enforce it.

Huobi founder Li Lin has sued Huobi Global in Hong Kong for using the Huobi trademark without proper permission. Lin has filed a lawsuit in the High Court of the Hong Kong Special Administrative Region. According to the lawsuit, the exchange continued to use the Huobi trademark without obtaining consent from Li Lin’s company, X-Spot. Huobi Founder Sues Exchange He Founded Chinese crypto reporter posted details about the lawsuit on his Twitter handle, stating that the crypto firm had resumed using the “Huobi” trademark without permission from X-Spot. Lin’s company maintains exclusive rights to the trademark. The news of the lawsuit comes as the exchange attempts to increase its footprint in Hong Kong in the face of growing regulatory pressure on the crypto industry. The United States Securities and Exchange Commission has also clamped down on cryptocurrencies and crypto platforms, forcing exchanges to look for more friendly jurisdictions. Colin Wu, a Chinese crypto reporter, published details about the lawsuit on Twitter, stating, “Huobi founder Li Lin formally sued Huobi Global in Hong Kong for using its Chinese trademark 火币 that was not allowed to continue to be used in the original acquisition contract. Huobi was acquired by Justin Sun for over $1 billion last year. Sun froze Li Lin’s brother’s account and accused him of dumping HT this year.” Li vs Sun The move to sue the exchange comes after Justin Sun, Huobi Global Advisor, moved to block Li Lin’s brother, Li Wei’s account and accused him of dumping Huobi Global’s native HT token. Sun had assured token holders at the time that the volume of HT tokens sold by Wei would be removed from the circulating supply, restoring the token’s original value. The move resulted in the token facing significant volatility. Following the blocking of the account, Huobi began using the “Huobi” trademark once again. However, the complaint filed by Li Lin on the 21st of June, 2023, states that X-Spot had retained exclusive rights to the Huobi trademark. “X-Spot Limited has retained exclusive rights to the ‘Huobi’ trademark, which Huobi Global Limited has been using without X-Spot’s authorization.”’ Apparently, when the original shareholders transferred their shares in Huobi Global to About Capital Management, they explicitly agreed to retain the “Huobi” trademark. According to the terms of the agreement, About Capital’s buyout vehicle would control a majority stake in Huobi Global once the transaction was complete. The sale of the exchange was part of a larger strategy to position the platform as an option for providing international investors with the best investment and trading services. Apart from retaining trademark rights, shareholders also agreed that the rights would not be transferred to Huobi or the buyer. They added that the parties’ asset delivery and equity transfer agreement prohibited the purchaser from using the “Huobi” brand and trademark. Huobi Global Counters However, Huobi Global has countered the claims, arguing that the exchange maintains the right to use the trademark in a number of legal jurisdictions globally. According to the exchange’s interpretation of the agreement, it has the mandate to use the “Huobi” trademark freely. Huobi Global Limited is currently looking to expand its operations in Hong Kong. However, the exchange is not yet registered in the region. This is significant due to the threat posed to the proposed expansion plans by Li Lin’s lawsuit. According to operational rules in Hong Kong and other regions, the right to use a trademark is subject to the regulations and laws in the region. As a result, a court will have to approve Huobi’s expansion plans. Meanwhile, the Huobi token is currently trading at $2.69, suggesting increased investor interest in the token despite the ongoing troubles. So far, there has been no official comment by Justin Sun or Huobi Global about the lawsuit. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

crypto traders flock to OTC

The Blockchain Association has filed a Freedom of Information Act (FOIA) request with the U.S. Securities and Exchange Commission (SEC), with an inquiry into the regulator's interactions with Prometheum, a relatively lesser-known cryptocurrency exchange that has recently garnered significant attention. Prometheum's co-CEO Aaron Kaplan was recently invited to testify before Congress, a rare occurrence for an executive from a relatively obscure company in a nascent industry. During the session, Kaplan voiced his support for the SEC's existing regulatory framework for cryptocurrency exchanges, while casting criticism on a significant portion of the industry. His statements have sparked intense discussions within the industry, and have elicited skepticism from some quarters. Possible Inconsistencies: Prometheum's Relationship with the SEC Adding to the intrigue surrounding Prometheum's operations is a revelation that the company paid over $1.5 million in sales commissions to a Chinese-affiliated entity, which carries a less-than-stellar regulatory track record. This has raised concerns within the Blockchain Association, leading it to further investigate the company's regulatory dealings. The criticisms are mainly centered on the fact that, despite being approved as a SPBD, Prometheum faces a considerable challenge in terms of regulatory compliance, and, for its end, the capacity to do so. The company's trading platform will not be able to facilitate the trading of any tokens until the projects behind those tokens have registered with the SEC. As it stands, there is no clear pathway for such registration under the existing SEC regime. This highlights a glaring contradiction in Prometheum's claims of offering a regulatory compliant platform for digital asset securities.The skepticism is well-founded, with several red flags raising questions about Prometheum's operations. The company reportedly paid in excess of $1.5 million in sales commissions to a Chinese-affiliated entity, which carries a dubious regulatory record. Such practices would typically invite scrutiny, but they appear to have been overlooked in Prometheum's case. These findings are the result of diligent work by the Blockchain Association, which continues to investigate the company's actions and interactions with the SEC. Further, Prometheum's claims of being a compliant path were brought into question during Kaplan's congressional hearing and an interview with journalist Laura Shin. It was suggested that Kaplan misinterpreted the legalities surrounding the crypto industry, thereby misrepresenting his company's position. This was reflected in the words of Representative Mike Flood, who dismissed Prometheum's assertions as unfounded. Regulatory Concessions Despite its status as a SPBD, Prometheum's Alternative Trading System (ATS) faces a considerable regulatory hurdle. The platform will be unable to trade any tokens until those tokens' creators have first registered with the SEC. This presents a roadblock, given the lack of a clear path to registration under the current SEC regime—a reality at odds with Prometheum's proclamations of offering a regulated platform for digital asset securities. Prometheum's unusual trajectory underscores the broader struggle within the crypto industry to navigate the complex and rapidly evolving regulatory environment. It highlights the critical need for greater transparency and a well-defined regulatory framework that can keep pace with innovation in the digital asset space. Prometheum has been under scrutiny since its co-CEO, Aaron Kaplan, testified before Congress and made statements supporting the SEC's regulatory approach towards crypto exchanges, while criticizing much of the crypto industry. Prometheum claims to be a broker-dealer approved by the Financial Industry Regulatory Authority as an alternative trading system. Current Tensions In U.S. Crypto Regulation Prometheum's position comes at a time when the crypto industry has been expressing concerns over what they perceive to be an antagonistic regulatory environment in the U.S., especially in the wake of recent lawsuits filed by the SEC against major exchanges like Coinbase and Binance. Prometheum plans to list regulated cryptocurrencies. However, this has been met with criticism. Rodrigo Seira, special counsel at Paradigm, pointed out that the SEC's stance is that most cryptocurrencies are unregistered securities, and therefore cannot be traded even on regulated exchanges. In response to a question during the congressional hearing from Congressman Mike Flood about whether Prometheum lists bitcoin or ether, Kaplan confirmed that the platform does not list either of these. Kaplan's statement seems to contradict the idea that no additional legislation is needed, as argued by Flood. Prometheum had previously announced plans to support digital asset securities, including Flow, Filecoin, The Graph, Compound, and Celo. The company has yet to provide a public disclosure on the matter. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The exchanges, targeted by the SEC for violating federal securities laws, have endured a significant wave of user withdrawals but managed to process transactions in an orderly fashion so far.

SEC has started to clamp down on crypto influencers and has issued several fines and cease and desist orders over the past few years.