International crypto exchange platform Binance has seen its Turkish branch fined over $700,000 by Turkey’s financial watchdog due to failure to meet its AML standards. Turkey’s Financial Crimes Investigation Board (MASAK) has now levied enforcement action against Binance Turkey as the exchange has failed the regulatory body’s audit done for Anti-Money Laundering (AML) compliance. Crypto…
Profunds Group’s ProShares has revealed its plan to join the increasingly hot crypto Metaverse race in an announcement through its spokesperson. ProShares announced that it had applied with the United States financial watchdog, the SEC, to enable the company to issue crypto Metaverse leveraged ETFs at home and abroad successfully. The US-based company prides itself…
Crypto big shot Sam Bankman-Fried has shared his perceptions about the crypto industry as an innovative tech. His unique revelations came in a lengthy Twitter thread that he posted earlier this week. In the thread by the FTX CEO, the issue of regulations and compliance stood out amongst other challenges. Bankman-Fried Crypto Insights The giant…
An unprecedented cryptocurrency bill may soon be passed into law by the Brazilian Senate in Brazil. The country’s Congressional Chamber has already approved the Bill of Deputies. The Bill, if eventually it is legislated, will see an unprecedented comprehensive regulation across all sectors of the country. The Bill was developed to cater to the cryptocurrency…
Jack Dorsey, the former Twitter CEO, has single-handedly riled up the global crypto community through his tweets targeting centralization, the web3 initiative, and numerous VCs. Many essential and notable personnel spoke for and against the criticism. Jack’s tweet where he took a jab at web 3.0 protocols and notable venture capitalists and venture capital firms…
StarkWare, a solutions protocol that currently utilizes Zero-Knowledge for scaling solutions, is set to take its solutions to the next level by developing its Layer 3 network protocol. As of now, the DeFi sector’s solutions for ether scaling problems utilize only layer 1 and Layer 2 networks. Starkware’s attempt at developing the L3 network will…
Arcade, a credit provision platform that utilizes NFTs as loan collateral, has reportedly generated capital worth $15 million in its first series fundraiser. The credit company that is formerly known as Pawn.fi, has revealed in an announcement on its Twitter page that its just-concluded series A fundraiser has provided $15 million worth of capital to…
Cryptocurrency leveraged lending firm, Nexo, has launched its proprietary lending platform, including a non-fungible token(NFT) lending platform. Nexo primarily offers liquid funds to its users for their crypto pegged collaterals such as Bitcoin, Ethereum, and other major cryptocurrencies. It has now extended its lending services to the NFT community members. The new feature will see…
VanEck, a cryptocurrency ETN investment management firm that operates from New York, is looking to extend its catalog of services for its customers by including Avalanche and Polygon ETNs in its new comprehensive upgrade. The firm has announced plans to expand its offerings to accommodate crypto tokens Avalanche(AVAX) and Polygon(MATIC). The new feature will enable…
The Security Exchange Commission is abuzz as two of the regulator’s commissioners took to social media to show their dissatisfaction over the SEC’s Chairperson’s newly published,’ Regulatory Flexibility Agenda.’ United States Securities and Exchange Commission (SEC) commissioners Hester Peirce and Elad Roisman have expressly shown their disapproval over the commission’s chairperson Gray Gensler’s new Regulations…
The United Kingdom’s Advertising Standards Authority (A.S.A) has prohibited multiple cryptocurrencies from promoting advertisements. The regulator has claimed that the advertisements being aired in the nation’s mass media space were primarily deceptive. It has been claimed that the U.K.’s citizens were being taken advantage of, as the ads only showcased scenarios of overnight success in…
Danal, a South Korean based Fintech company, has launched a new feature through its commerce Division that will enable luxury Carline BMWs to be bought with its native cryptocurrency token Paycoin(PCI). The Fintech company has partnered with Samchully Motors, a native motors dealership that focuses on BMW vehicle sales. The announcement that came after the…
Unocoin, India’s leading exchange platform, has included comprehensive trading options for Shiba Inu and Dogecoin meme coins. This revelation came from an announcement during the company’s press release on Monday. Unocoin’s extensive customer base will now be able to access trade options that pair the Dogecoin against India’s Fiat currency, the rupee. There is no…
Solv Protocol, a decentralized platform for creating, managing, and trading financial, has introduced its latest innovation, the Initial Voucher Offering (IVO). The team has now offered a new unique method of raising revenue to the crypto world. The protocol has a unique standing amongst the other protocols in the industry currently. It fabricates a unique…
In a recent post, Grayscale Investments, a trusted expert in the digital currency investing and cryptocurrency market, stated that meme coin DOGE has greater exposure in the investing community than Ethereum. The New York-based company is a subsidiary of Digital Currency Group that provides insight and investment exposure to the digital currency asset class. Through…
Blockchain data intelligence outlet, Chainalysis, will integrate a support platform for L2 Lightning protocol, in its framework for Bitcoin leveraged blockchain network, early next year. In its press release earlier today, Chainalysis has announced to the general public that it aims to leverage L2 lightning Network protocol for its next round of system upgrades, which…
Polygon Technologies has announced its purchase of Mir for $400 million in MATIC tokens. Mir, a scaling solutions firm focused on solving the zero-knowledge conundrum, has changed hands, according to Polygon’s announcement on Thursday, December 9. The L2 scaling protocol Polygon revealed during its zero knowledge virtual conference that it has purchased Mir, for a…
Credit dispensing firm, Tribal Credit, has liaised with Bitson and Stellar Development Foundation (SDF) to develop a transboundary payment gateway that leverages the Blockchain network for companies based in North America. The gateway is geared towards making it less cumbersome and less costly for small and medium business enterprises in the North American Continent to…
Florida as of now, is the first state in the U.S to radically adopt blockchain leveraged technologies to multiple sectors of its economy. In the announcement of the year 2022 budget for the Florida State, coined “Freedom First Budget”, state governor Ron DeSantis, confirmed that the 2022 budget totaling a sum of $99 billion was…
The cryptocurrency industry is enjoying a high level of success, with investors swarming to the industry in large numbers, but lack of appropriate regulations have effectively stymied the industry’s growth. The ‘fair’ regulation of cryptocurrencies is a discussion that is considered very important, as it goes a long way in determining the further development of…
