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The UK’s FCA announced stricter crypto marketing rules this week, prohibiting giving away free NFTs and cryptocurrencies to promote digital asset investing. Earlier this week, the United Kingdom’s Financial Conduct Authority (FCA) introduced tighter advertising rules for the crypto industry, which will take force on October 8. Giving away free NFTs (non-fungible tokens) and cryptocurrencies via airdrops to encourage users to invest in digital assets will no longer be allowed. Matthew Long, the FCA’s director of payments and digital assets, told media publication CoinDesk, that frequently these NFTs and airdrops when used as promotional products, result in consumers buying crypto that they realise “can be problematic later.” Long added that NFTs and airdrops will not be banned, merely promotions involving them. FCA Classifies Crypto as “Restricted Mass Market Investment” The FCA’s newly published rules categorise crypto as a “restricted mass market investment” and will require firms promoting crypto products or services to introduce clear risk warnings. The regulator also said “refer a friend” bonuses incentivising the public to invest in cryptocurrencies will be banned. The new rules will require a “cooling-off” period for first-time investors to discourage impulsive crypto purchases. Research by the FCA reveals that estimated crypto ownership has more than doubled from 2021 to 2022, with 10% of the 2,000 people surveyed indicating that they own cryptocurrencies. Sheldon Mills, executive director of Consumers and Competition at the FCA, said: It is up to people to decide whether they buy crypto. But research shows many regret making a hasty decision. Our rules give people the time and the right risk warnings to make an informed choice. Consumers should still be aware that crypto remains largely unregulated and high risk. Those who invest should be prepared to lose all their money. FCA Goes Ahead With Tighter Rules Despite Industry Pushback The FCA consulted on its proposed marketing rules in 2022 and found that respondents largely disagreed with rules such as banning incentives, blocking new investors from getting non-real-time promotional offers (DOFP) and treating crypto as a mass market investment. As it stands, only entities that have received authorisation from the FCA can approve their own advertisements. Given that there is no framework currently in place that allows the FCA to authorise crypto firms fully, the government has created a temporary exemption that will enable crypto firms registered with the FCA to comply with its AML requirements to approve their own advertisements starting in October. The measure, as stated, is only temporary, and eventually, only FCA-authorised entities will be permitted to approve ads. Some industry players, however, caution the requirement may be too restrictive. The FCA will go forward with the above measures despite industry pushback. 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.

Heath Tarbert will serve as the company's chief legal officer and head of corporate affairs, bringing experience with all three branches of government.

The UK’s Financial Conduct Authority released a new set of crypto marketing rules to take effect on October 8. On Thursday, the UK’s Financial Conduct Authority (FCA) unveiled stricter marketing rules. The new guidelines, set to come into force on October 8, introduces a “cooling-off” period for crypto buyers and scraps “refer a friend” bonuses. The regulator said in a press release: The new rules mean crypto firms must ensure that people have the appropriate knowledge and experience to invest in crypto. Incentive Bonuses Scrapped The UK’s financial watchdog is taking a closer look at its crypto marketing rules introducing a more comprehensive guideline to protect investors. In a bid to discourage impulsive crypto purchases, the FCA’s new rules require first-time crypto investors to wait out a 24-hour “cooling-off” period after registering trading accounts. Sheldon Mills, Executive Director of the FCA’s Consumers and Competition Division, said: It is up to people to decide whether they buy crypto. But research shows many regret making a hasty decision. Consumers should still be aware that crypto remains largely unregulated and high risk. The regulator further said that “refer a friend” incentive bonuses for crypto buyers would be done away with. It added institutions promoting crypto assets would have to introduce clear risk warnings and ensure that advertisements are transparent, fair, and not misleading. The agency said crypto firms would have to carry warnings stating, for instance: Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. UK Looks To Regulate Crypto Sector Regulators worldwide are working relentlessly to introduce frameworks to govern the crypto sector to mitigate the risk to investors and economic stability. The European Union (EU) has taken charge in this respect with its landmark Markets in Crypto Asset (MiCA) regulation. The bill underwent its last vote late in May and is set to take effect in phases in 2024. The UK Treasury Committee recently released a report compelling the government to regulate retail crypto trading not as financial assets but as gambling instruments. The committee argued that fraudsters and money launderers’ potential use of crypto threatens consumers and economic stability. 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.

Pouch founder Ethan Rose said that they've managed to convince 400 businesses to accept Bitcoin in the Philippines.

San Francisco-based Web3 developer hub Ankr has officially launched Enterprise Remote Procedure Call (RPC) services on Microsoft's Azure Marketplace, following their partnership announcement in February this year. The service is intended to provide Azure's vast customer base with low-latency, globally accessible blockchain connections, aiding them in their Web3 project and application development. Notably, Ankr's AppChains, a solution enabling enterprises to deploy dedicated, customizable blockchains, will also be made available on Azure Marketplace. Initial offerings will include the deployment of Polygon Supernets with a promise of more blockchain ecosystem choices in the near future. "Through this partnership, we are abstracting away what is often an impediment to testing, deploying, and scaling Web3 projects seamlessly," shares Daniel An, Microsoft's Director of Business Development. AppChains have been part of Ankr's product line-up for a year now. These scalable, application-specific blockchains facilitate decentralized app development and project execution for Web3 organizations. Their popularity among traditional enterprises has grown significantly due to their versatile application potential across banking, institutional clients, CBDCs, gaming, and more. By offering AppChains through the Azure Marketplace, enterprises have a vetted and trusted platform to explore and adopt this new technology. Ankr's AppChains aim to overcome significant hurdles faced by enterprises, such as scalability, user experience, and the cost of hiring new Web3 engineering talent. AppChains provide speedy and affordable transactions, seamless user experiences, regulatory compliance, and comprehensive engineering support. These advantages could streamline the transition to Web3 for many firms interested in the digital asset space. Peter Stewart, Head of Infrastructure at Ankr, praised the collaboration with Microsoft and highlighted their anticipation for increased demand following the Azure Marketplace launch. Simultaneously, Kev Silk, Ankr AppChains Lead, underscored Ankr's commitment to facilitating Web3 accessibility for large businesses through this enterprise-grade chain solution. "With Microsoft's guidance, we will continue to innovate and improve based on user feedback and performance metrics. This partnership has been remarkable, and we are excited for the future of our Enterprise RPC service," Stewart shares. Ankr, as an all-in-one Web3 developer hub, offers an extensive toolkit to build Web3 apps and establish high-performance connections to over 30 blockchains. Ankr is an approved infrastructure partner for constructing application-specific blockchains on ecosystems like the BNB Smart Chain, Polygon, and Avalanche. According to data from 2022, Microsoft Azure is the second-largest cloud service provider worldwide, commanding a market share of approximately 20%. Analysts predict that by 2024, global blockchain technology revenues are expected to reach $23.3 billion. Given this context, the Ankr-Microsoft partnership could be a significant step in catering to this emerging demand. The Ankr and Microsoft Azure collaboration represents an important development in the expansion of Web3, emphasizing the increasing importance of reliable infrastructure in fostering its growth. By facilitating the rapid deployment of customized blockchains and providing scalable connections to over 30 blockchain networks, this partnership could catalyze the mainstream adoption of Web3 technologies. Building Web3 infrastructure is akin to creating the foundational pillars of the next-generation internet. It provides the necessary groundwork that enables decentralized applications (dApps) and platforms to run smoothly. This not only enhances performance but also ensures that these platforms can effectively maintain the decentralized ethos at the heart of the Web3 vision. What's Next For Ankr and Microsoft Azure? Microsoft Azure's involvement in this endeavor is notable. As one of the leading cloud service providers, Azure brings extensive expertise in facilitating scalable, reliable, and secure cloud solutions for various applications. Its entry into the Web3 infrastructure space underscores the intersection of traditional tech giants with the burgeoning field of blockchain technology. In terms of broader implications, the Ankr-Microsoft partnership provides an excellent example of how cloud services can fuel the growth of Web3. Cloud computing, with its inherent flexibility, scalability, and cost-effectiveness, provides an ideal environment for developing and deploying dApps, smart contracts, and other blockchain-powered applications. In fact, the synergy of cloud computing and blockchain could serve as a catalyst for new business models and applications in the Web3 space. For instance, decentralized data storage and management, enhanced digital identity solutions, and streamlined supply chain systems are among the numerous potential applications of a blockchain-cloud fusion. Microsoft Azure, with its robust cloud infrastructure, has a history of fostering such innovations. The platform's as-a-service offerings – including Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS), and Infrastructure-as-a-Service (IaaS) – have already disrupted multiple sectors. By extending these capabilities to Web3 infrastructure development, Azure could unlock new frontiers in the decentralized tech landscape. The integration of Ankr’s Enterprise RPC services and AppChains into Azure Marketplace, therefore, not only marks a significant step in Web3 infrastructure development but also demonstrates the potential of cloud services in accelerating the growth of Web3. As enterprises worldwide increasingly recognize the potential of blockchain technology, collaborations like these are likely to become more prominent, shaping the evolution of the Internet as we know it. Partnerships such as Ankr and Microsoft Azure's represent a critical step in this direction, bringing together the flexibility of cloud services with the transformative potential of blockchain technology. 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 former CEO of Binance.US, Brian Brooks, has revealed why he left his position as the CEO of the exchange in court documents submitted this week. Brooks had resigned as the CEO of Binance.US in August 2021, just months after taking the position. Shadow CEO Court documents cited Brooks in a transcript linked to documents regarding the United States Securities and Exchange Commission’s case against Binance, Binance CEO Changpeng Zhao, Bam Trading, and Bam Management. In the interview transcript with the Securities and Exchange Commission (SEC), Brooks was asked about his role as the head of Binance.US; Brooks stated, “I did not work for Binance.com, that nobody at Binance.com was my boss, and that my role was to complete and highlight the corporate separateness. So when I talked to CZ, I considered myself to be talking to him in his role as board chair of BAM Trading. What became clear to me at a certain point was [that] CZ was the CEO of BAM Trading, not me…That wasn’t because Binance.com somehow controlled us, but again, he owns the vast majority of Binance.com, so I put that aside.” At the time of resigning, Brooks stated that he was leaving his position as the CEO of Binance.US because of differences over strategic direction. Brooks held his position at the American arm of Binance for only three months. The SEC’s Case Against Binance The Securities and Exchange Commission filed a lawsuit against Binance and its CEO Changpeng Zhao on Monday. The lawsuit contained 13 charges, including allegations of fraud and co-mingling of customer assets. The action came after months of threats, warnings, and discussions, with the exchange and Zhao accused of operating a “web of deception.” The filing against Binance also includes quotes from multiple unnamed Binance executives, which it stated were acknowledging that they were running Binance.com as an unregistered securities exchange in the US. It also quoted Zhao as seeking ways to keep its VIP customers. According to the lawsuit, Zhao, in a weekly meeting with senior company officials, stated, “We don’t want to lose all the VIPs, which actually contribute to quite a large number of volume. So ideally, we would help them facilitate registering companies or moving the trading volume offshore in some way—in a way that we can accept without them being labeled completely US to us.” Binance Reacts Binance handles billions worth of investments for small and established investors and also sponsors Italian Serie A team Lazio and the Argentina National team. The action on the exchange is part of a wider crackdown on crypto initiated by the SEC, which began after the collapse of FTX. FTX founder Sam Bankman-Fried has been charged with several offenses, including securities fraud and money laundering. Reacting to the SEC lawsuit, Binance stated that it was “disheartened and disappointed” with the SEC lawsuit. It added that it had extensively discussed with the regulator to reach a negotiated settlement. “Most recently, we have engaged in extensive good-faith discussions to reach a negotiated settlement to resolve their investigations. But despite our efforts, with its complaint…the SEC abandoned that process and instead chose to act unilaterally and litigate.” The SEC also added that it had filed a temporary restraining order against BAM Trading, BAM Management, which oversees Binance.US operations, and against Binance. If the order is granted, it would look to freeze the assets of BAM Trading and BAM Management. 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 executive, once instrumental to the company’s NFT efforts, was "terminated" amid lackluster Q1 earnings.

The FSC rejected Gopax’s executive change report filed on March 7 and claimed it was very difficult to accept the acquisition requests amid accusations of securities laws violations.

In a shocking development, the SEC filed suit against crypto exchange Coinbase on Tuesday, alleging it acted as an unregistered broker and exchange. On Tuesday, the US Securities and Exchange Commission (SEC), in its relentless pursuit of the crypto industry, sued crypto exchange Coinbase in a New York federal court. The agency alleges the exchange acted as an unregistered broker and exchange and is demanding that the firm be “permanently restrained and enjoined” from further doing so. The complaint comes less than a day after the agency sued Binance and its CEO, Changpeng Zhao. SEC: Coinbase Is an Unregistered Exchange, Broker, and Clearing Agency In a press release, the securities regulator said Coinbase acted as an unregistered securities exchange, broker, and clearing agency and charged it for “the unregistered offer and sale of securities in connection with its staking-as-a-service program.” The SEC details: Since 2019, Coinbase has been engaging in an unregistered securities offering through its staking-as-a-service program, which allows customers to earn profits from the “proof of stake” mechanisms of certain blockchains and Coinbase’s efforts. Through its unregistered services, the agency said Coinbase allegedly: Provides a marketplace and brings together the orders for securities of multiple buyers and sellers using established, non-discretionary methods under which such orders interact. Further, it states that Coinbase: Engages in the business of effecting securities transactions for the accounts of Coinbase customers. Finally, the SEC alleges that Coinbase: Provides facilities for comparison of data respecting the terms of settlement of crypto asset securities transactions, serves as an intermediary in settling transactions in crypto asset securities by Coinbase customers, and acts as a securities depository. The regulator further deems at least 13 crypto assets available to Coinbase users as “crypto asset securities”. Gensler and Grewal Comment Chairman of the SEC, Gary Gensler, took to Twitter to share the news. Gensler commented: Coinbase’s alleged failures deprive investors of critical protections, including rulebooks that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC. Director of the SEC’s Division of Enforcement, Gurbir S. Grewal, had this to say: You simply can’t ignore the rules because you don’t like them or because you’d prefer different ones: the consequences for the investing public are far too great. As alleged in our complaint, Coinbase was fully aware of the applicability of the federal securities laws to its business activities, but deliberately refused to follow them. While Coinbase’s calculated decisions may have allowed it to earn billions, it’s done so at the expense of investors by depriving them of the protections to which they are entitled.Today’s action seeks to hold Coinbase accountable for its choices. The SEC Appears to be Out for Blood The crypto market has been in free fall since news broke that the agency filed suit against crypto exchange Binance and its founder and CEO, Changpeng Zhao. The agency accused Binance of mishandling funds and lying to investors and regulators about its operations. Binance responded by denying the claims. Coinbase has been under the radar amid the SEC’s broader crackdown on unregistered securities. After the SEC and crypto exchange Kraken reached a settlement earlier in the year where the company agreed to shutter its staking program, Coinbase said they would defend the agency’s classification of staking as a security. Coinbase executives claim that staking cannot be classified as a security under the US Securities Act or the Howey Test. 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.

Blockchain gaming executives believe the law has not yet caught up with the concept of earning a living through gaming.

ST HELLIER, Jersey, June 6th, 2023, ChainwireOKX, the world’s second-largest cryptocurrency exchange by trading volume and a leading Web3 technology company, and regulated digital asset custody service provider Komainu, today announced that OKX has joined collateral management platform Komainu Connect, enabling institutional customers to conduct secure 24/7 trading of segregated assets under custody through the OKX platform.Launched in April of 2023, Komainu Connect reduces client counterparty risk by removing the need to store collateral with trading counterparties, and offering the ability to keep assets in safe custody instead.Nicolas Bertrand, CEO at Komainu, said: “This strategic partnership marks a milestone in our mission to provide secure and compliant digital asset custody solutions. OKX's reputation as a leading cryptocurrency exchange, combined with our expertise in institutional-grade custody services is paving the way for a new era of trust and innovation in the industry.”Sebastian Widmann, Head of Strategy at Komainu, said: “Komainu Connect is rapidly emerging as the leading collateral management solution. Partnering with one of the world’s largest crypto exchanges is a testament to the infrastructure and expertise committed to this service and our focus remains on seamless execution for all parties.”Lennix Lai, Global Chief Commercial Officer at OKX, said: “Institutions need the peace of mind that comes with knowing their assets are being kept safe with a leading custodian, while retaining their ability to capitalize when investment opportunities arise. That is why we are delighted to partner with Komainu to allow investors a way to keep their assets secure while not compromising on returns.”The off-exchange settlement and tripartite mirroring solution is a significant step forward for large-scale institutional crypto traders requiring immediate access to OKX's market-leading portfolio margin account mode and liquid markets.Komainu was established in 2018 to provide institutions with a secure and compliant custody service for investment in digital assets. Launched in June 2020, Komainu currently custodies assets for exchanges, financial institutions, asset managers, corporations, and government agencies.Find out more about why institutions choose OKX here.About OKXOKX is a world-leading technology company building the future of Web3. Known as the most reliable crypto trading platform for traders, OKX’s crypto exchange is the second largest globally by trading volume.OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.OKX partners with a number of the world’s top brands and athletes, including English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.To learn more about OKX, download OKX's app or visit: okx.comAbout KomainuKomainu is a regulated digital asset custodian built by institutions for institutions and created as a joint venture between Nomura, digital asset manager CoinShares, and digital asset security company Ledger. Offering multi-asset support with regulatory compliance, Komainu is merging traditional financial services with leading security standards for the next generation of institutional custody. Headquartered in Jersey and with offices in London, Dublin, Dubai, and Singapore, Komainu is regulated by the Jersey Financial Services Commission (JFSC) and Dubai Virtual Assets Regulatory Authority (VARA). For more information, visit https://www.komainu.comMedia Contact: Armel Leslie, Peaks Strategies, +1 (914) 320-7620, [email protected] announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific [email protected]

The United States Securities and Exchange Commission (SEC) has alleged that popular cryptocurrencies such as Cardano (ADA), Polygon (MATIC), and Solana (SOL) are unregistered securities. The regulator made the allegation in a lawsuit against Binance and its CEO, Changpeng Zhao. Prominent Cryptocurrencies Classified As Securities The lawsuit names an extensive list of cryptocurrencies apart from Cardano (ADA), Polygon (MATIC), and Solana (SOL). The three rank among the largest and most prominent cryptocurrencies in the market. The other cryptocurrencies mentioned include Cosmos Hub (ATOM), Filecoin (FIL), Decentraland (MANA), Algorand (ALGO), The Sandbox (SAND), Coti ( COTI), and Axie Infinity (AXS). The lawsuit has also identified the BUSD and BNB stablecoins as securities, further compounding the seriousness of the situation. Furthermore, the SEC lawsuit also alleges that Binance has listed crypto assets that have previously been the subject of enforcement action by the SEC. These include several assets, such as TRX, UST, AMP, and REP. This, according to the Securities and Exchange Commission, indicates a reckless disregard for securities regulations by Binance and its executives. However, the lawsuit does not mention Litecoin (LTC) or Ethereum (ETH). Additionally, Securities and Exchange Commission Chair Gary Gensler has clarified that the SEC views Bitcoin as a commodity. However, he has suggested that a vast majority of other tokens in the market are securities. Token Value Tanks Several tokens saw a considerable drop in price following the news of the SEC lawsuit. Among the hardest hit was Solana, which saw a 6% drop, sliding to $20 in just an hour. Algorand, another asset mentioned as a security in the lawsuit, saw its value drop by 9.9% following the news. SEC Chair Gensler has previously spoken quite positively about the asset. Polygon saw a drop of 7%, while Polkadot dropped by 6.9%, according to data from CoinGecko. The Lawsuit Against Binance And Zhao The Securities and Exchange Commission unveiled its lawsuit against Binance on Monday. The commission had sued the world’s largest cryptocurrency exchange and its CEO, Changpeng Zhao, for alleged violation of several US securities laws. According to the SEC, Binance has been offering its users unregistered securities trading platforms and offering unregistered crypto asset securities sales. “The Securities and Exchange Commission today charged Binance Holdings Ltd. (“Binance”), which operates the largest crypto asset trading platform in the world, Binance.com; U.S.-based affiliate, BAM Trading Services Inc. (“BAM Trading”), which, together with Binance, operates the crypto asset trading platform, Binance.US; and their founder, Changpeng Zhao, with a variety of securities law violations.” One of the key charges against Binance involves the company’s US operations. According to the Securities and Exchange Commission, Binance and BAM Trading, the Binance.US operator, operated as exchanges in the United States of America without registering with the SEC, in addition to being clearing agencies and broker-dealers. According to the SEC, certain cryptocurrencies were offered as securities on Binance’s primary international exchange and Binance.US. “Binance and BAM Trading have unlawfully engaged in unregistered offers and sales of crypto asset securities,” the lawsuit states. “In so doing, they have deprived investors of material information, including the risks and trends that affect the enterprise and an investment in these securities.” The Securities and Exchange Commission also alleged that Binance secretly controlled its US operations, allowing high-value US customers to evade restrictions and divert billions of dollars worth of customer funds. Binance has refuted all allegations made by the SEC. 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.

Cryptocurrency prices nosedived Monday as the U.S. Securities and Exchange Commission (SEC) sued the crypto exchange and its chief executive for multiple federal securities law violations.

In a collaboration that is set to ignite the crypto scene in Dubai, the Dubai Multi Commodities Centre (DMCC) has teamed up with global crypto giant Bybit. A strategic partnership This strategic partnership aims to provide substantial financial support, totaling Dhs500,000, to new crypto ventures seeking to establish themselves in the thriving DMCC Crypto Centre—an influential hub for Web3 and blockchain enterprises in the region. As reported by Gulf Today, Bybit, one of the world's leading crypto exchanges with over 15 million users, will take on the role of the official listing partner for the Crypto Centre. This means that Bybit will offer dedicated support to crypto firms looking to list their digital assets on top global exchanges, providing a significant boost to their visibility and growth opportunities. Moreover, Crypto Centre members will gain access to a range of Bybit Services, further enhancing their capabilities and potential. With its headquarters in Dubai, Bybit's partnership with DMCC underscores the emirate's growing prominence as a global crypto hub. The collaboration aims to foster the success of high-potential Web3 businesses in Dubai and fuel the continuous evolution of the crypto industry and the global digital economy. Bybit brings to the table its expertise in transparency, listing procedures, custodial services, and more, aiming to make a lasting impact on Dubai's position as the crypto capital and to fulfil its vision of becoming, what Ben Zhou, co-founder and CEO, calls the world's "Crypto Ark." Ahmed Bin Sulayem, the Executive Chairman and Chief Executive of DMCC, expressed his excitement about the partnership, stating, "Dubai has firmly established itself as a global hub for crypto and Web3, with the DMCC Crypto Centre serving as the region's premier platform for crypto firms. Bybit's presence further strengthens this position, and we are delighted to have them on board as an official ecosystem partner. Through their expertise and financial contribution, we anticipate an acceleration in the growth and influence of Dubai's pioneering crypto and Web3 businesses." Dubai positions itself as a crypto hub The collaboration between DMCC and Bybit extends beyond financial support and listing opportunities. Bybit will actively participate in the educational initiatives of the DMCC Crypto Centre, delivering webinars and educational courses focused on emerging trends in the digital assets industry, the role of centralised exchanges, and their impact on shaping the Web3 ecosystem. As an inclusive ecosystem catering to Web3 and blockchain enterprises, the DMCC Crypto Centre offers a wide range of services and support for companies looking to establish and expand their crypto operations. Currently hosting more than 550 businesses in the Web3 and blockchain space, the Crypto Centre provides an ideal environment for entrepreneurs and innovators to thrive, positioning Dubai as a hotbed for crypto-based innovation and growth. 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

Binance.US has always claimed to be independent from Binance, a stance that may come under scrutiny following this news.

According to Eleanor Terrett, Ripple and its underwriters met Wall Street investors as they look to generate interest in a potential IPO. An IPO On The Cards? Several rumors suggest that Ripple may go the IPO route following the conclusion of its long-running lawsuit against the Securities and Exchange Commission. This became a topic of discussion on Twitter, where it was revealed that the company held a private roadshow event in April, during which company executives met Wall Street investors with the goal of generating interest for an IPO. Eleanor Terrett, Fox Business Journalist, picked up the news, tweeting, “In April, @Ripple hosted a private “road show” (a marketing event where a company and its underwriters meet with potential investors to generate interest in an IPO). I’m told it was attended by just about every reputable institutional investment firm on the Street.” John Deaton, a pro crypto attorney, noted that Ripple could be in a relatively good position depending on the outcome of the summary judgment. Deaton believes that an outright win for Ripple or a mere slap on the wrist could show that ongoing and future sales of XRP are not securities. “If @Ripple wins the SEC lawsuit or gets the functional equivalent of a slap on the wrist, along with a ruling that ongoing and future sales of #XRP are not securities, the lawsuit will prove a blessing in disguise for Ripple.” Long Running Lawsuit Nearing The End Deaton also commented on the potential outcome of the lawsuit, stating that there is a minimal chance (less than 3%) that the Securities and Exchange Commission can score an outright win against Ripple. Deaton has been a vocal supporter of Ripple’s fight against the SEC, and was speaking during the June 3rd episode of the Good Morning Crypto podcast. Apart from his predictions about an outright Ripple victory, he also added that there was a 50% chance that Ripple could emerge victorious through a “splitting the baby” ruling. The last option is a reference to Judge Torress drawing a line in the sand, potentially ruling that XRP was offered as an unregistered security before 2018. However, following the Hinman documents, it could be possible that cryptocurrencies could make the transition from securities to commodities once they are sufficiently decentralized. Deaton added, “I think that XRP itself is going to be deemed not a security and that I think that secondary market sales show comment. Even if [Judge Torres] does rule finding that Ripple violated the law, that doesn’t apply to secondary market sales.” Decision Before the 30th of September Ripple’s executives have been predicting an end to the lawsuit from the Securities and Exchange Commission for a while. Deaton also believes so and predicted that Judge Torres would likely make a final ruling before the 30th of September. He pointed to what he called a “six-month list” that district judges have to file before Congress and added that Judge Torres has never been on the list. The list contains details of all summary judgments that have been pending for longer than six months. Deaton has also given his predictions about the price of XRP following a positive ruling, stating that the token’s value could hover between $2 and $10. He also urged the Ripple community to mark the 13th of June, which is when investors would discover if XRP was the topic of discussion between the SEC staff before the Hinman speech. The Hinman files will be unsealed on the 13th and could dramatically impact the case. 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 largest exit scam in May was executed by Fintoch, which absconded with users' funds worth $31.6 million.

Uniswap and its foundation have no association with the scam as efforts are being made to combat it.

The ChatGPT creators did not launch a crypto token, despite brief claims from a company executive’s Twitter page.

The market trends in the crypto industry have yet again sprung up new development that is forcing the hands of investors. As it stands, Sparklo has continued its meteoric rise in price and reputation among crypto investors because of the project's outstanding potential. However, the market price of coins like Near Protocol (NEAR) and XRP (XRP) has continued to struggle in the crypto market. Investors are joyful as Sparklo (SPRK) keeps its consistent growth The stability that the Sparklo project has shown in the past weeks is bringing smiles to early investors of the token. More investors have joined the Sparklo project in a bid to position themselves for potential moon-bound growth. Sparklo is an innovative blockchain-based investment platform that allows users to invest in profitable solid treasures like Gold, Silver and Platinum. Investors can also passively trade these assets using fractionalized NFTs as digital placeholders. It is safe to say that the Sparklo token (SPRK) is one of the hottest tokens in the crypto market at the moment. Crypto experts have already projected a 1,000% rise in price value for the token before the end of Q4 of 2023. Currently, the SPRK token goes at the price of only $0.030 per token. Investors that purchase the SPRK token now will be given a 100% bonus for their purchase which will end in the next 48 hours. This means you have limited time to benefit from this bonus. Experienced investors will recognize that now is the best time to invest in the SPRK tokens for significant gains in the near future. The safety and security of the Sparklo project have been vetted and approved through the Interfi Network. Moreso, BlockAudit Report Team has verified the project's KYC certification. The SPRK token will be locked for 100 years to avoid an event of a rug pull. Do not hesitate to invest in the Sparklo project, as we believe in the promising potential of the token. Click the link below to invest. >>>> PURCHASE HERE <<< Near Protocol (NEAR) sees a crab-like price movement Near Protocol (NEAR) is a community-driven cloud computing protocol that operates on the layer 1 blockchain to enhance the overall activities on the blockchain. Within the last 24 hours, Near Protocol (NEAR) saw an insignificant -0.18% loss in price value. This development pegs the price of the Near Protocol (NEAR) token at $1.56 at the time of writing. The trading volume of Near Protocol (NEAR) went down by -20.31% and currently stands at $40,745,164. In the last few days, the Near Protocol (NEAR) price has not seen any upward price movement. The Near Protocol (NEAR) price chart shows that the coin is struggling to overcome the bear market. Despite all these, crypto experts still think that the price of Near Protocol (NEAR) will surge in the coming days despite the current price trajectory and the stats suggesting the contrary. Near Protocol (NEAR) coin holders have already joined the ongoing Sparklo project, which has proven to be a more viable investment option. XRP (XRP) declines in price value amid fresh token released from escrow XRP (XRP) is a decentralized open-source ledger that executes transactions in the blockchain network at a low-cost price alongside speed and scalability. In a fresh development, XRP (XRP) now has an additional 1 billion tokens added to its circulating supply in another monthly token released by the network. This development was executed through the escrow system which has 55 billion XRP (XRP) tokens locked in from December 17, 2021. These tokens have since then been released at 1 billion per month. However, the escrow system has seen divided opinions among experts as to whether it affects the price of the XRP (XRP) token negatively. XRP (XRP) in the last 24 hours lost 1.08% in price value. As a result, the price of XRP (XRP) is $0.50 at present time. The coin has made significant progress in the last few days and has gained over 5%. However, with the last 24 hours' price of XRP (XRP) not showing signs of a rally, the XRP (XRP) investors have moved over to the trending Sparklo project, where significant gains will be made. The Sparklo project is already giving a bonus for token purchase, which makes it one of the best crypto projects for now. Find out more about the Sparklo presale: Website: https://sparklo.finance Presale: https://invest.sparklo.finance Twitter: https://twitter.com/sparklo_finance Telegram: https://t.me/sparklofinance 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.

The liquidation plan should prioritize user payouts and restrict exit packages for executives.

Lawyers for the disgraced exchange executive filed pre-trial motions in early May to dismiss most of the charges on technicalities or procedural issues.

The exec also served as the director of corporate finance at the Monetary Authority of Singapore (MAS).

Although no accusations of intentional misconduct were filed, the team behind the investments took responsibility for their poor judgement.