By engaging with stakeholders and focusing on compliance, Wu aims to position Hong Kong as a leader in the adoption of Bitcoin and Web3 technologies. Source: https://cointelegraph.com/news/hong-kong-bitcoin-financial-reserves-web3-development?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Month: July 2024
Former NBA Star Scottie Pippen to Tokenize Legendary Chicago Bulls Ball
Scottie Pippen, a former Chicago Bulls’ small forward, 6-time NBA champion, and 2-time Olympic Gold medalist, has announced the tokenization initiative for a historic ball. Pippen alleges that he had saved the ball that started the Chicago Bulls dynasty, used in the fifth game of the team victory against the Los Angeles Lakers during the […] Source: https://news.bitcoin.com/former-nba-star-scottie-pippen-to-tokenize-legendary-chicago-bulls-ball/
Swiss regulator FINMA targets stablecoin issuers in new proposal
As stablecoins continue to gain traction globally, regulatory initiatives such as FINMA’s guidance are likely to influence policies in other jurisdictions. Source: https://cointelegraph.com/news/finma-regulate-stablecoin-issuers?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
El Paso Man Fined $31M for Forex and Crypto Fraud
A federal court has ordered Abner Alejandro Tinoco and his company, Kikit & Mess Investments LLC, to pay over $31 million for forex and cryptocurrency fraud. The order includes $6.2 million in restitution, $6.3 million in disgorgement, and an $18.8 million civil penalty. Tinoco and his firm defrauded 199 victims by misusing over $7.2 million […] Source: https://news.bitcoin.com/el-paso-man-fined-31m-for-forex-and-crypto-fraud/
Bitcoin hits 16-month high 'positive sentiment' as price sits near $68K
According to Santiment data, the term “Bitcoin” is being used more positively on social media now than at any time in the past 16 months. Source: https://cointelegraph.com/news/bitcoin-weighted-sentiment-index-positive-price-68k?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
ZK Rollups: A Foundational Technology, Not Just a Fleeting Trend, According to Quicknode VP
According to Josh Neuroth, the Vice President of Product at Quicknode, Layer-2 (L2) scaling solutions known as zero-knowledge (ZK) rollups can potentially solve the most pressing issues in blockchain technology. Hence, the buzz around them is “well-founded.” He added that unlike the speculation-driven non-fungible token (NFT) frenzy, interest in ZK rollups is grounded in their […] Source: https://news.bitcoin.com/zk-rollups-a-foundational-technology-not-just-a-fleeting-trend-according-to-quicknode-vp/
AAVE founder issues health warning to crypto founders after undergoing surgery
AAVE founder Stani Kulechov says he “rarely” ever thought about his health while reflecting on a day after surgery in which his organ was removed. Source: https://cointelegraph.com/news/aave-founder-stani-kulechov-hospital-warning-crypto-founders?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
FINMA Warns Stablecoins Threaten Swiss Financial Reputation
The Swiss regulator, the Financial Market Supervisory Authority (FINMA), recently published guidance on the issuance of stablecoins. The regulator says stablecoins are not only associated with money laundering risks but pose reputational risks for the entire Swiss financial centre. Stablecoin Issuers as Financial Intermediaries The Swiss regulator, the Financial Market Supervisory Authority (FINMA), has recently […] Source: https://news.bitcoin.com/finma-warns-stablecoins-threaten-swiss-financial-reputation/
Worldcoin Gets Hit With $200,000 Fine in Buenos Aires
Worldcoin, the biometric, iris-based ID and universal basic income (UBI) project, has been sanctioned with fines for over $200,000 in the Buenos Aires province. The fines answer to several violations of the National Consumer Defense Law, such as the inclusion of abusive clauses in its terms of service agreement. Also, authorities of Buenos Aires concluded […] Source: https://news.bitcoin.com/worldcoin-gets-hit-with-200000-fine-in-buenos-aires/
Russian State Duma Deputy Chairman: BRICS SWIFT Counterpart Needed for Creating a New Economic Reality
Alexander Babakov, Deputy Chairman of the Russian State Duma, highlighted the need to create a BRICS equivalent to the SWIFT messaging system, which routes payments alongside the current banking infrastructure. Babakov emphasized that this new system would help to reduce the dependence on Western institutions and simplify settlements outside the dollar-dominated system. BRICS SWIFT Equivalent […] Source: https://news.bitcoin.com/russian-state-duma-deputy-chairman-brics-swift-counterpart-needed-for-creating-a-new-economic-reality/