Crypto Regulation Evolves In US And EU, Banks Help Binance Competitors + More Info

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Get your daily digest of crypto-asset and blockchain news – investigating the stories that slip under the radar of today’s crypto news.

Regulatory news

  • In a letter to Security and Trade Commission President (SEC) Gary Gensler, U.S. Senator Elizabeth Warren said she needed responses from Gensler by July 28 on the authority of the SEC to protect consumers investing and trading in cryptocurrencies, and determine what further congressional action was needed, Reuters reported. (Learn more: ‘Knives Coming Out’ As Cryptoverse Responds To BTC FUD By US Senator)
  • The European Union will propose a new agency to fight money laundering and new transparency rules for crypto-asset transfers, Reuters reported, citing EU documents. The European Executive Commission of the EU is proposing a new Anti-Money Laundering Authority (AMLA) which will become the “centerpiece” of an integrated monitoring system also made up of national authorities, he added. .
  • The SEC has expanded its review of SkyBridge Capitalrequest Bitcoin (BTC) exchange traded fund, according to to a July 7 filing. The regulator extended the initial 45-day review period until August 25.
  • the Parliament of the Economic Community of West African States (ECOWAS Parliament) expressed concerns about the use of cryptocurrencies in the sub-region regarding the risk factors involved, according to At the direction. While highlighting the prospects for cryptocurrencies making it easier to invest in West African countries, they still cautioned that the sharp drop in the price of bitcoin in recent weeks shows its volatility and inherent danger. .

Banking News

  • Bank of America (BofA) has created a new team dedicated to the research of cryptoassets and digital currency technologies, Bloomberg reported, citing an internal note. Alkesh Shah, who joined the bank in 2013 and previously led its global team of tech specialists, will lead this new effort, he added.
  • UK based Santander Bank confirmed that from today they will be stop payments from Santander accounts to Binance “wherever possible.” According to the bank, “this decision follows the [Finacial Conduct Authority (FCA)’s] recent consumer warnings for Binance Markets Limited and the wider Binance group, “and” is to protect you against fraud. “(Learn more: Barclays Binance Customers Seeking Alternative Apps, Banks and Countries)

News from the exchanges

  • Meanwhile, through CNBC, the FCA crackdown on Binance has benefited a number of its rivals, including Bitstamp, Kraken, and Gemini. As of Tuesday, Bitstamp had seen its clients rise 138% since the FCA published its review on Binance on June 25, according to the report. Kraken said the percentage share of listings from the UK has roughly doubled over the past two weeks, compared to listings in Kraken’s other major markets.
  • Based in Kazakhstan Eurasian space companies (ESV) has launched Cock, which aims to be the world’s first space crypto exchange, using the space technology of the EspaceX Falcon 9 rocket and in partnership with Spatial chain satellite network, through Astana time. The main benefit of Biteeu is marketed as a daily backup of operational and customer data in low earth orbit, he added.
  • Gemini mentionned it seeks to develop further in the Asia-Pacific region after a year of presence in Singapore. The new offices will include Australia and Hong Kong, but no specific date has yet been set.
  • Crypto asset platform possesses received an electronic money institution (IME) license from the Malta Financial Services Authority (MFSA), allowing it to issue cards and offer bank transfers directly to consumers. This makes the company the first crypto-related platform to receive this license.

Investment news

  • Crypto company MobileCoin raised more than $ 75 million in venture capital for a valuation of $ 1 billion, The Information reported, citing people familiar with the matter. This valuation is more than 10 times higher than that of its last financing in March, they added.
  • Blockchain-based capital markets company Chintai mentionned it raised $ 7.5 million in seed funding from investors such as Block.a, Group of crypto assets, Collective capital, and others. The funds will be used to enable compliant tokenization of traditional financial assets on its blockchain network.
  • US Senator Pat Toomey purchased between $ 1,000 and $ 15,000 each of Shades of grey Ethereum Trust (ETHE) and Grayscale Bitcoin Trust (GBTC), according to to a financial disclosure. The senator bought these shares in mid-June.

Career News

  • Stable coin transmitter Attached (USDT) is looking for a Reputation Manager, according to to a job offer. The job involves engaging in Tether-related social media talk, implementing a proactive process to capture online reviews from loyal customers, and identifying and reporting threats and opportunities in content generated by users regarding the business, he said.

NFT News

  • The movie ‘Zero Contact’, formerly called ’92’, by Enderby Entertainment and starring Anthony Hopkins, will premiere on a new non-fungible token (TVN) Platform Fly away later this summer the deadline reported. Vuele will allow users to purchase exclusive, limited edition movies and collectible content to watch, collect, sell and redeem on the platform, while people can pay for the movie with cryptocurrency or credit cards. credit.

CBDC news

  • the Reserve Bank of New Zealand mentionned he will devote the remainder of 2021 to in-depth consultations on issues “key to the future of how New Zealanders pay and save”. The following articles will examine central bank digital currencies (CBDC) the potential to work alongside cash as government guaranteed money and issues arising from other crypto assets, including bitcoin and stablecoins.

Blockchain news

  • Smallholder coffee and cocoa farmers and their cooperatives in Honduras are using blockchain to access new markets and make business decisions through IBM Food Trust and IBM Watson decision platform for agriculture, work with International Heifer and CATIE. The blockchain will provide transparency throughout the supply chain to help coffee buyers better understand their product supply chains and enable farmers to obtain higher prices they mentionned.
  • Digital goods community Gitcoin integrated the proof of stake blockchain Tezos (XTZ), and launch bounties on the platform for development projects, including infrastructure, tools and applications supporting the Tezos ecosystem. Gitcoin will also be running a hackathon called ‘NFT Me, You Can DAO It’, departure July 21, with a total of $ 75,000 in XTZ prizes spread across 10 winning submissions.
  • Decentralized infrastructure company The graphic (TJB) launched decentralized curation, a form of community governance to ensure the quality and accuracy of information, according to an emailed press release. In addition, it exceeded 30 billion requests in June alone.
  • The Free TON network, a blockchain protocol based on the now abandoned Telegram The TON network announced a $ 36 million prize pool for validators in a test contest. According to Forklog, the poll will pay in the protocol’s native tokens and the validators will be responsible for testing the network. Telegram has previously disassociated itself from the project, warning investors to keep their distance, although the developers say they are continuing in the spirit of the original TON initiative.
  • Blockchain-powered mortgages are expected to roll out in Kazakhstan next year. Across the border into Russia, the central bank is piloting a similar project. But now, through LS, the Kazakh Ministry of Digital Development “is carrying out technical work” which will allow it to link blockchain networks to the national real estate register, with ongoing technical monitoring. The tests will be completed by the end of the year, the ministry added and affirmed that “by the first half of 2022, citizens of Kazakhstan will be able to take out a mortgage using blockchain technology.”
  • A group of Japanese investors set to sue a South Korean crypto firm, with attorneys representing 100 Japan-based clients claiming they cannot withdraw their funds from a US-based “crypto investment” scheme. ‘across the sea to the west. Through Tokyo-based MBC investors claimed they were drawn to the project after reading “famous investor blog posts” and reading “guaranteed returns” and “introductory fees” to persuade new investors to join us. A woman reportedly invested some USD 26,000 in fiat on behalf of her husband and father.
  • that of Israel National Office for Combating Terrorist Financing Posted a seizure order against 84 cryptographic addresses that would belong to Hamas, the Palestinian militant group that rule Gaza, or are “otherwise used to finance terrorism.” According to at the blockchain and crypto analyst firm Elliptical, these addresses received over $ 7.7 million in crypto. However, not all of these funds may be associated with terrorism.

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