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Crypto exchange Binance announced Monday its strategy to comply with the forthcoming Markets in Crypto Assets Regulation (MiCA) stablecoin rules, set to take effect on June 30 across the European Economic Area (EEA). These regulations will restrict the issuance and offering of stablecoins to regulated companies, categorizing them as “Regulated Stablecoins.” Binance will make phased … Read more
Out of the approximately $60 million (ZAR1.1 billion) that was recovered to pay back victims of the collapsed bitcoin investment platform Mirror Trading International (MTI), only $34.3 million remains. Court documents reportedly state that liquidators have used the recovered funds to pay an outstanding tax liability of $15.2 million and legal fees of $7.78 million. … Read more
Global crypto trading platform Okx has launched its centralized exchange and wallet in the Netherlands. Dutch customers can now engage in spot trading and convert services for over 150 cryptocurrencies, including more than 60 crypto-Euro pairs. The platform integrates with Ideal, a popular online payment system in the Netherlands, for instant, fee-free deposits, and offers … Read more
Australia-based Monochrome Asset Management is set to debut its spot bitcoin exchange-traded fund (ETF), IBTC, on the Cboe Australia exchange this Tuesday, June 4. This will be Australia’s first ETF to directly hold bitcoin. Previously, Australian investors were limited to indirect bitcoin ETFs or offshore options, which did not offer the same investor protections established … Read more
Blockchain sleuth Zackxbt called out former boxing world champion Floyd “Money” Mayweather about his fraudulent token activities. Answering a now-deleted post on X where Mayweather promoted a Solana address for his token, Zackxbt asked if the boxer deserved a 13th chance, given the numerous failed and disappeared projects he had promoted before. Zackxbt stressed that … Read more
China and the United Arab Emirates (UAE) have acknowledged the crucial role of central bank digital currency (CBDC) in facilitating cross-border trade and investment. In a joint statement, the two countries expressed their commitment to deepening bilateral and multilateral cooperation with respect to their CBDCs. China also expressed appreciation for the UAE’s recent direct cross-border … Read more
Hong Kong police have issued a warning over the rise in counterfeit banknotes, with many cases linked to cryptocurrency scams. Between January and April, authorities seized 3,396 fake notes valued at HK$2.55 million (US$326,130), a significant increase from last year’s 553 notes worth HK$166,220. Three major cryptocurrency-related fraud cases led to the confiscation of 1,693 … Read more
Coinbase’s chief legal officer, Paul Grewal, announced that the crypto exchange has filed a closing brief in the Third Circuit challenging the SEC’s denial of their rulemaking petition. The brief argues that the SEC’s order, which disagrees with claims that SEC rules are unworkable for digital asset firms, lacks reasoned decision-making. Grewal asserts that the … Read more
The American Bankers Association, Bank Policy Institute, Financial Services Forum, and Securities Industry and Financial Markets Association sent a letter to President Joe Biden on May 31, urging him to sign the resolution passed by Congress to overturn the SEC’s Staff Accounting Bulletin 121 (SAB 121). The letter outlines that SAB 121, issued without regulatory … Read more
The pro-bitcoin president of El Salvador, Nayib Bukele, commenced his second term on June 1 at the National Palace in San Salvador, with his family and a large crowd in attendance. Despite rising economic concerns, Bukele’s popularity remains robust. His administration’s notable policies include adopting bitcoin as legal tender. During his first term, over 80,000 … Read more
